Are oil futures over-valued?

[Achilles]

Of course, I wonder if Oil will spark a War in the future.

Who says that it hasn't already?

 

Food for thought:

World's largest conventional oil reserves - Saudi Arabia (ally)

2nd largest - Iran (Bush admin. building case for war)

3rd largest - Iraq (Large U.S. military presense for the past 5 years)

 

 

Only time will tell, as the old saying goes.

If you like the movie, you may also what to consider picking up this book.

[Arcesious]

Do you happen to recall what this special was titled? I'd like to try to find it on YouTube if I can.

 

I don't exactly remember, but I remember a part of it was 'We were warned'.

 

Edit: I remember now. It was CNN Special Investigations Unit-We were warned-Out of gas. If you link from youtube, I won't be able to see it though, due to BSafe. But that doesn't matter, because I already saw it when it was aired.

[mur'phon]

This is great:D

Wait, what did you say about wars? *Looks at neighbour Russia* uh-oh...

 

In all seriousness, the previous oil shock removed oil from power generation, hopefully this one will get it out of transport (though that would screw my countrys economy).

 

Demand is currently low, and oil stocks are still rising

 

Errr no, demand is growing thanks to a lot of asians getting their very own gas guzzlers.

[Litofsky]

Who says that it hasn't already?

 

Food for thought:

World's largest conventional oil reserves - Saudi Arabia (ally)

2nd largest - Iran (Bush admin. building case for war)

3rd largest - Iraq (Large U.S. military presense for the past 5 years)

 

 

If you like the movie, you may also what to consider picking up this book.

 

Well, the planet is in a sorry state as it is. We're so obsessed with Oil that we are failing to look into the future. It's a scary I thought (this, I know), but when we realize that we have control of the future, things come right 'down to earth.'

[Achilles]

when we realize that we have control of the future, things come right 'down to earth.'

For some of us anyway

[Litofsky]

For some of us anyway

 

*Cough* People with positions of power? *Cough* Yeah, I hate it when they abuse their power, too.

[Achilles]

Just saying that some of us seem to be aware that there is a problem.

[Jae Onasi]

Yep, fill up your gas tanks today if possible. Some uninsured idiot ran a stop sign right in front of me, so I won't have to worry about filling up my van anymore--with it being 8 years old I suspect the insurance company will just total it.

[tk102]

Can't wait for more vehicles like this to become commonplace.

 

 

vv No, zero to 60 in less than 10 seconds. link

[Achilles]

Hmmm. The ZENN car boasts similar mileage and range but has a top speed of 25mph. I wonder if the same applies here.

[Litofsky]

Yep, fill up your gas tanks today if possible. Some uninsured idiot ran a stop sign right in front of me, so I won't have to worry about filling up my van anymore--with it being 8 years old I suspect the insurance company will just total it.

 

So, he hit your car? If so, sorry, Jae. I hope you enjoy your new piece of metal!

 

Anyways, I wouldn't mind an electric car. At night, we'd go home and plug it into the socket into the wall.

[Rev7]

Yep, fill up your gas tanks today if possible. Some uninsured idiot ran a stop sign right in front of me, so I won't have to worry about filling up my van anymore--with it being 8 years old I suspect the insurance company will just total it.

I am sorry. I hope that no one was hurt.

 

 

The price of oil is just outrageous. I don't think that there is much more to say other than that....and I certainly hope that something changes in the near-future about it....

[Litofsky]

I am sorry. I hope that no one was hurt.

 

 

The price of oil is just outrageous. I don't think that there is much more to say other than that....and I certainly hope that something changes in the near-future about it....

 

I still think that we should be responding by marching on Capitol Hill or the White House. Imagine the President waking up, only to be greeted by several thousand protesters on his front lawn (metaphorically speaking). We, being the American Public, need to let Government(s) know that we will not stand for this. What better way than by blockading the White House?

 

Of course, I'm not saying that will guarantee results. I'm merely saying that by bringing the fight to Bush's front door, we'd force him to do something. He'd either act, or admit that he is nothing more than a tool.

 

Don't forget that these are all opinions, and not facts.

[mur'phon]

Just curious, how is Bush suposed to lower the price?

[Totenkopf]

I still think that we should be responding by marching on Capitol Hill or the White House. Imagine the President waking up, only to be greeted by several thousand protesters on his front lawn (metaphorically speaking). We, being the American Public, need to let Government(s) know that we will not stand for this. What better way than by blockading the White House?

 

Of course, I'm not saying that will guarantee results. I'm merely saying that by bringing the fight to Bush's front door, we'd force him to do something. He'd either act, or admit that he is nothing more than a tool.

 

Don't forget that these are all opinions, and not facts.

 

While it might make Oberman's day (as well as many others), it's well known fact that Bush is on his way out and thus has much less leverage than the next president would have. Still, given that oil is an international market, just how does one propose that an American president force the world market to heel?

[Achilles]

Just curious' date=' how is Bush suposed to lower the price?[/quote']Since he has no control over supply or demand, I imagine very little.

[mur'phon]

It was a retorical question:)

[Jae Onasi]

Kids and I were OK. The police officer let us know she was very pleased we'd all been wearing seatbelts and daughter had been in her car seat.

 

We could try marching on OPEC (which would probably get us arrested in any of the Middle East countries) or Wall Street (which would be pretty useless), or we could do something like elect people here at home who support a better energy policy, which includes, like it or not, building some more refineries, decreasing our demand by increasing development of renewable resources and looking at biofuels (among many other things), and going to more fuel efficient energy use. Since we'll likely have to get another vehicle ourselves, we'll probably be looking at something smaller and with much better gas mileage. My one choice alone won't do very much at all. However, if everyone makes wiser choices in energy consumption, we'll have an impact on the market.

[Achilles]

Kids and I were OK. The police officer let us know she was very pleased we'd all been wearing seatbelts and daughter had been in her car seat.

Glad to hear that no one was hurt

Kids pretty shaken up?

 

We could try marching on OPEC (which would probably get us arrested in any of the Middle East countries) or Wall Street (which would be pretty useless), or we could do something like elect people here at home who support a better energy policy,

I agree.

 

which includes, like it or not, building some more refineries,

I don't think this will happen. Refinieres cost a lot to build and with supply diminishing, there is no incentive to invest in new infrastructure.

 

decreasing our demand by increasing development of renewable resources

Agreed.

 

and looking at biofuels (among many other things),

Biofuels just aren't efficient.

 

Since we'll likely have to get another vehicle ourselves, we'll probably be looking at something smaller and with much better gas mileage. My one choice alone won't do very much at all. However, if everyone makes wiser choices in energy consumption, we'll have an impact on the market.

Good luck with the car shopping. I imagine the dealers are going to be very happy to see a customer right now

[tk102]

While it might make Oberman's day (as well as many others), it's well known fact that Bush is on his way out and thus has much less leverage than the next president would have. Still, given that oil is an international market, just how does one propose that an American president force the world market to heel?

 

By invading Iran?

 

You know that's his solution.

 

Imagine a single Exxon oil tanker bombed in the Strait of Hormuz. The evidence shows the ties to Iran. With the rhetoric already in place of Iran being a destabilizing force in the region and a threat to Israel, this proves the last straw. The U.S. bombs Iran. War ensues. Oil jumps to $250/barrel and gas prices double. How far-fetched is that?

[Litofsky]

By invading Iran?

 

You know that's his solution.

 

Imagine a single Exxon oil tanker bombed in the Strait of Hormuz. The evidence shows the ties to Iran. With the rhetoric already in place of Iran being a destabilizing force in the region and a threat to Israel, this proves the last straw. The U.S. bombs Iran. War ensues. Oil jumps to $250/barrel and gas prices double. How far-fetched is that?

 

Very likely, in my opinion. It's likely that something of that nature will happen in the not-so-far-off future.

[Rev7]

Kids and I were OK. The police officer let us know she was very pleased we'd all been wearing seatbelts and daughter had been in her car seat.

It is good to hear that everything is okay. Seatbelts were made for a reason...

By invading Iran?

 

You know that's his solution.

 

Imagine a single Exxon oil tanker bombed in the Strait of Hormuz. The evidence shows the ties to Iran. With the rhetoric already in place of Iran being a destabilizing force in the region and a threat to Israel, this proves the last straw. The U.S. bombs Iran. War ensues. Oil jumps to $250/barrel and gas prices double. How far-fetched is that?

I certainly hope that it doesn't come to that.