Oil heading over $200/barrel?

[Roger Batts]

Some very interesting reading over on MSN about oil right now. Here is an excerpt:





"There is no reason why oil prices should be above $60," Gheit said, noting that domestic crude supplies are at average levels, and that refineries are cutting gasoline production as high prices cut consumers demand for fuel. "The physical supplies do not justify the price, it just doesn't make sense."



OPEC Secretary General Abdalla Salem El-Badri on Thursday reiterated his position that oil supplies are adequate, and that there is no need for the cartel to boost production. He said several Organization of Petroleum Exporting Countries oil projects are coming on line, but he noted that several member countries are having a hard time finding buyers for their additional supplies.





OPEC says they have too much oil and can't find buyers for what they've already pumped????





Here is the link where I got the quote. http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=AP&date=20080508&id=4160093

 

[Kevin Lang]

Roger, I can't agree to rationing. One thing I must point out is that Japan did not attack us over rubber. They had more military thoughts on their mind.



While we ration ourselves and find alternative energy,limiting ourselves, other countries are going to take advantage of the tried-and-true petroleum technology and surpass us. Not to mention that with america reducing her oil consumption, then more is available for the other countries to use



Russia is waiting for a chance to get us, and they have their own oil, china and india don't like being at the bottom, and they have hordes of people, cheap labor, all of our intellectual products, and then, all the oil they could want.



So while we deliberate making electric cars and a non-petroleum fueled fighter jet, the big 3 over there are going to make advances. Three on one are not good odds, especially when 2 of the 3 countries are larger than us.



Oh, and while we're "breaking free of opec" and asserting energy independence, the other countries are not getting leaps and bounds ahead of are already degrading country, but they're also going to heavily pollute the environment.







First it was the exxonmobile guy saying production was being throttled back, now even opec is commenting on the ludicrousness of the oil prices. Getting back to bill gates, microsoft was a far better "trust"/"monopoly" then these oil companies. At least Microsoft could technically have competition.



Although on that quote, I do recall an opec official saying that they were going to keep oil at no less than 80 bucks a barrel



60 is more agreeable, that's what, ~80 bucks less than what we pay per barrel now?

 

[Tom Schindler]

"Those who would give up Essential Liberty to purchase a little Temporary Safety, deserve neither Liberty nor Safety."

So why do we accept that the government is allowed to snoop into our personal lives?





Tom

 

[Johnny O]

Because we will not vote out the people who do it.

I don't think the govt should tell me how much water my toilet can use either.

 

[Kevin Lang]

I'm proud that my household still has the anachronistic toilets that flush over a gallon each time...no wimpy underpowered toilet that you have to flush 3x to get it all down...which actually uses more water. :unsure:



They also shouldn't be able to mandate lightbulbs to us either--the 100w compact fluorescents that I have burn out (when they aren't supposed to) and the latest one to burn out actually melted its plastic base. Never had that problem with an incandescent bulb. If we wanted fluorescent lighting in all of our home, we could buy shop lights. Standard fluorescent bulbs are inferior to incandescent bulbs in all the important areas anyhow.