White House wants oil at $25 barrel [NA]

Joe Williams said:
And I want the fairy godmother to give me back the body I had when I was 24. Wonder which of us will get our wish first?=
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Are they planning to steal the Iraqi oil?
 
Maverick said:
Are they planning to steal the Iraqi oil?
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It would cost a lot less just to buy it than the Billions of dollars and lives we're spending to stabilize a region that produces terrorism against us.

There's a lot more oil in Venezuala and its closer. If we wanted to steal it we should just go there and remove that Castro wannabe.
 
Joe Williams said:
And I want the fairy godmother to give me back the body I had when I was 24. Wonder which of us will get our wish first? :rofl:


Or as my boss tells me regularly....
"S**t in hand and wish in the other, see which one fills up first."

The book "The Prize", by Daniel Yeargin should be required reading for anyone in a position to set petroleum related energy decisions fo rthis or any country dependent on foreign oil. It was an eye opening experience, well written, and though the subject seemingly dry as toast turned out to be fascinating. The petroleun exploration industry in this country loves the price of oil right now. At $25/barrel they won't even crank up the trucks and leave the barn. Costs more than that to get a barrel out of the ground.
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Interesting... oil inventories in the US are at six-year highs, and the US trade deficit has narrowed considerably. Between higher inventories, insatiable appetites of competing oil producers for money and the likely-strengthening of the dollar, expect continued downward pressure on oil prices.

I don't expect to see $25.00/bbl again, but I don't particularly want to either. The occsaional spike in oil prices helps matters by stimulating exploration and production, and by reminding consumers that unlimited consumption is not a wise strategy... not even a strategy at all.
 
Anthony said:
It would cost a lot less just to buy it than the Billions of dollars and lives we're spending to stabilize a region that produces terrorism against us.

There's a lot more oil in Venezuala and its closer. If we wanted to steal it we should just go there and remove that Castro wannabe.
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Very interesting that you dismiss the current war as extravagant and unneeded but you espouse starting another war in another place. And it would get nasty real quick, wasn't it Venezuela that just inked major concessions with China?

That would be a war where 'blood for oil' would be true.
 
Richard said:
Very interesting that you dismiss the current war as extravagant and unneeded but you espouse starting another war in another place. And it would get nasty real quick, wasn't it Venezuela that just inked major concessions with China?

That would be a war where 'blood for oil' would be true.
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Richard. Please read my post again. I indicated that the war in Iraq is NOT for oil, but to "stabilize a region that produces terrorism". Well worth it in my opinion. My comment about Venezuela was to show how stupid the "war for oil" mantra is, as if we really wanted to steal oil, that is the closest.

I'm no expert on internatial affairs, but Venezuala is the dirty, little secret hiding in our own back yard. If the Administration, ie Bush, wants to stabilize oil prices, they should address Venezuala which is the next Cuba IMHO.
 
Can we just say screw the oil and focus on other forms of energy? I was promised all kinda things when 2000 rolled around, I want to start seeing my flying cars running on renewable energy. Get to it.
 
wbarnhill said:
Can we just say screw the oil and focus on other forms of energy? I was promised all kinda things when 2000 rolled around, I want to start seeing my flying cars running on renewable energy. Get to it.
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We can still pray for all these scientists to finally come up with a sustainable fusion reactor. That would put a lid on the oil companies for good.
 
I bet we see oil in the $30's again, in just a few years.

All this BS about "stealing Iraqi oil" is just that. You ever seen a barrel of crude oil? Have any idea of what it takes to get a barrel of oil out of the ground, transported across country, and loaded on a tanker to get it to market? All you get if $50 for it too.

Oil is heavy, nasty, voluminuous stuff. It takes huge infra-structure to produce, transport and market it. It is virtually impossible to "steal" in any meaningful quantities.

As far as sources of energy go, you have to realize that there is a tremendous amount of energy in a gallon of gasoline. Replacing it with some other source is not going to be easy, cheap or practical. Even if you add in the cost of war, petroleum is still very cheap as a source of energy. That is a reality.
 
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