Price Of Oil Skyrocketing Again
Diesel Enthusiast
Joined: Apr 2007
Posts: 144
Likes: 7
It is not oil going up, the $$$ is falling, go to oanda.com and do a search, in 2001 US $ .86, bought 1 Euro $, today it takes $ 1.46 US to buy 1 Euro$. Do the figures, you will find the US $ is worth 60% + less against the Euro.
Go the Europe 1 or 2 times a year, using their currency fuel have held same price for years, maybe up 10% - 15%, that is all.
May add, the arabs like the Euro$, it is stable, some of the country's still use their old currency, it is locked in against the Euro $. Same value.
Go the Europe 1 or 2 times a year, using their currency fuel have held same price for years, maybe up 10% - 15%, that is all.
May add, the arabs like the Euro$, it is stable, some of the country's still use their old currency, it is locked in against the Euro $. Same value.
Last edited by saab9k; Nov 7, 2007 at 07:56 PM.
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From: Why-homing
http://www.stansberryresearch.com/PR...UT-COL-49.html
Hidden 1,000 feet beneath the surface of the Rocky Mountains
lies the largest untapped oil reserve in the world — more than 2 TRILLION barrels. On August 8, 2005 President Bush mandated its extraction. Three companies have been chosen to lead the way. Test drilling has already begun...
they better get it on then..........oil hits 99 bucks a barrel today
Hidden 1,000 feet beneath the surface of the Rocky Mountains
lies the largest untapped oil reserve in the world — more than 2 TRILLION barrels. On August 8, 2005 President Bush mandated its extraction. Three companies have been chosen to lead the way. Test drilling has already begun...
they better get it on then..........oil hits 99 bucks a barrel today
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From: Why-homing
The market is now really looking at $100 a barrel as the next target to hit," said Victor Shum, an energy analyst with Purvin & Gertz in Singapore. "The fact that we are having this surge in pricing in this short trading week underscores the strength of this bull run for oil."
Light, sweet crude for January delivery rose as high as $99.29 a barrel in electronic trading after the New York Mercantile Exchange closed, breaking the previous intraday record of $98.62 set Nov 7. The contract was trading at $98.24 a barrel -- up 21 cents on Tuesday's close -- at midday in Europe. Brent crude for January delivery was little changed at $95.88.
Light, sweet crude for January delivery rose as high as $99.29 a barrel in electronic trading after the New York Mercantile Exchange closed, breaking the previous intraday record of $98.62 set Nov 7. The contract was trading at $98.24 a barrel -- up 21 cents on Tuesday's close -- at midday in Europe. Brent crude for January delivery was little changed at $95.88.
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From: Why-homing
Bottom line: We are still at the beginning of a long-term bull market for oil... the likes of which the industrialized world has never seen.
The U.S government forecasts a 54% increase in oil demand over the next 18 years. And governments around the world are spending unprecedented amounts of money to satisfy that demand.
The U.S government forecasts a 54% increase in oil demand over the next 18 years. And governments around the world are spending unprecedented amounts of money to satisfy that demand.
Diesel Enthusiast
Joined: Aug 2007
Posts: 228
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From: Smithfield, VA
http://www.stansberryresearch.com/PR...UT-COL-49.html
Hidden 1,000 feet beneath the surface of the Rocky Mountains
lies the largest untapped oil reserve in the world — more than 2 TRILLION barrels. On August 8, 2005 President Bush mandated its extraction. Three companies have been chosen to lead the way. Test drilling has already begun...
they better get it on then..........oil hits 99 bucks a barrel today
Hidden 1,000 feet beneath the surface of the Rocky Mountains
lies the largest untapped oil reserve in the world — more than 2 TRILLION barrels. On August 8, 2005 President Bush mandated its extraction. Three companies have been chosen to lead the way. Test drilling has already begun...
they better get it on then..........oil hits 99 bucks a barrel today
---AutoMerged DoublePost---
You hate the US how so?
Last edited by alaskaflyer; Nov 22, 2007 at 12:07 PM. Reason: Automerged Doublepost
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From: Why-homing
may hit 100 outa this deal
NEW YORK (CNNMoney.com) -- Oil prices rose over $1 a barrel Thursday, putting crude about $2 from its all-time high, after the assassination of former Pakistan Prime Minister Benazir Bhutto and a larger-than-expected decline in U.S. crude inventories.
U.S. crude for February delivery rose $1.23 to $97.20 a barrel, after being up to $96.37 just before the inventory report.
Bhutto, who had a controversial past in Pakistan and returned in October to again seek the prime minister's seat, was killed along with at least 14 others in a suicide attack following a political rally Thursday.
Although nuclear-armed Pakistan has little oil, traders fear any instability could spread to neighboring states. Pakistan boarders Iran, the world's fourth-largest exporter of crude, and also lies near the oil rich Central Asian states.
Oil prices were also supported by a U.S. government report Thursday showing a drop in domestic supplies of crude oil and heating fuel.
In its weekly inventory report, delayed by a day due to the Christmas holiday, the Energy Information Administration said crude stocks fell by 3.3 million barrels last week. Analysts were looking for a drop of 1.3 million barrels, according to a Dow Jones poll.
Distillates, used to make heating oil and diesel fuel, fell by 2.8 million barrels while gasoline supplies increased by 700,000 barrels. Analysts were looking for a 800,000 barrel decline in distillates supplies and a 1.4 million barrel increase in gasoline stockpiles.
Traders blamed fog in the Houston area for the decline in supplies, as oil tankers were unable to unload their cargo.
It's the sixth straight week that domestic crude stocks have fallen, and supplies of crude, distillates and gasoline are all in the lower half of the average range for this time of year, EIA said.
But that may not be surprising, as refiners generally try to deplete stocks in December because they must pay taxes on any inventory held at the year's end.
Refiners ran at 88.1 percent capacity, EIA said, slightly below analysts' estimates.
Oil prices jumped nearly $2 Wednesday on renewed Turkish attacks on Kurdish separatists in northern Iraq, although traders noted the thin trading volume during the holiday week was probably exaggerating the price swings.
Nonetheless, the runup puts oil within striking distance of its all-time high of $99.29 a barrel set last month.
Crude prices have jumped over 60 percent this year, and surged nearly five-fold since 2002.
Analyst say strong demand and limited supply is the main reason. Strained supplies also exaggerate the effects of geopolitical events, and the price runup has attracted lots of speculative investment, further pushing up prices. A weak dollar is also partly to blame, as oil is priced in dollars worldwide.
NEW YORK (CNNMoney.com) -- Oil prices rose over $1 a barrel Thursday, putting crude about $2 from its all-time high, after the assassination of former Pakistan Prime Minister Benazir Bhutto and a larger-than-expected decline in U.S. crude inventories.
U.S. crude for February delivery rose $1.23 to $97.20 a barrel, after being up to $96.37 just before the inventory report.
Bhutto, who had a controversial past in Pakistan and returned in October to again seek the prime minister's seat, was killed along with at least 14 others in a suicide attack following a political rally Thursday.
Although nuclear-armed Pakistan has little oil, traders fear any instability could spread to neighboring states. Pakistan boarders Iran, the world's fourth-largest exporter of crude, and also lies near the oil rich Central Asian states.
Oil prices were also supported by a U.S. government report Thursday showing a drop in domestic supplies of crude oil and heating fuel.
In its weekly inventory report, delayed by a day due to the Christmas holiday, the Energy Information Administration said crude stocks fell by 3.3 million barrels last week. Analysts were looking for a drop of 1.3 million barrels, according to a Dow Jones poll.
Distillates, used to make heating oil and diesel fuel, fell by 2.8 million barrels while gasoline supplies increased by 700,000 barrels. Analysts were looking for a 800,000 barrel decline in distillates supplies and a 1.4 million barrel increase in gasoline stockpiles.
Traders blamed fog in the Houston area for the decline in supplies, as oil tankers were unable to unload their cargo.
It's the sixth straight week that domestic crude stocks have fallen, and supplies of crude, distillates and gasoline are all in the lower half of the average range for this time of year, EIA said.
But that may not be surprising, as refiners generally try to deplete stocks in December because they must pay taxes on any inventory held at the year's end.
Refiners ran at 88.1 percent capacity, EIA said, slightly below analysts' estimates.
Oil prices jumped nearly $2 Wednesday on renewed Turkish attacks on Kurdish separatists in northern Iraq, although traders noted the thin trading volume during the holiday week was probably exaggerating the price swings.
Nonetheless, the runup puts oil within striking distance of its all-time high of $99.29 a barrel set last month.
Crude prices have jumped over 60 percent this year, and surged nearly five-fold since 2002.
Analyst say strong demand and limited supply is the main reason. Strained supplies also exaggerate the effects of geopolitical events, and the price runup has attracted lots of speculative investment, further pushing up prices. A weak dollar is also partly to blame, as oil is priced in dollars worldwide.
Duramax Virgin
Joined: Dec 2007
Posts: 2,221
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From: Ponca City, OK
That is freaking ridiculious! Pakistan has NOTHING to do with Oil -- but the traders want ANYTHING to make the price go up... that is retarded! That is the dumbest thing I have ever heard in a reason to raise oil prices again... just because they were starting to come down.... what a joke!
