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Crude now at $33.98 -- Drill, baby, drill!!

Discussion in 'Political Discussion' started by Fogbuster, Feb 12, 2009.

  1. Fogbuster

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    [size=+4]Oil slides toward multiyear lows[/size]
    Feb 12 02:54 PM US/Eastern
    By MARK WILLIAMS
    AP Energy Writer

    COLUMBUS, Ohio (AP) - Oil prices slid closer to a new multiyear low Thursday because of growing doubts that the $789 billion stimulus package will reinvigorate the economy and demand for energy.

    Retail gas prices, meanwhile, reached a new high for 2009 on Thursday and appeared headed back to $2 a gallon as refiners cut back on production.

    Light, sweet crude for March delivery tumbled $1.96, more than 5 percent, to [highlight]settle at $33.98 a barrel[/highlight] on the New York Mercantile Exchange. [highlight]The contract has closed lower every day this week. [/highlight]


    Oil slides toward multiyear lows


    God bless Geo W. Bush. He spoke, the market responded. Imagine if we had just left it all to Pelosi.


    :scared:


    :disagreement:


    :nono:


    :explative:


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  2. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    You are aware of this of course...


    Environmental Capital - WSJ.com : Don't Drill, Baby: Interior Department Halts Offshore Drilling Push

    Don’t Drill, Baby: Interior Department Halts Offshore Drilling Push

  3. Fogbuster

    Fogbuster Rookie

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  4. Holy Diver

    Holy Diver Rookie

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    Have you looked at the 'market' lately?

    The only company doing fine is Exxon/Mobil.....


    gee I wonder why that is?
  5. Fogbuster

    Fogbuster Rookie

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    Obama's wonks can try to kill all progress in America, but the natives are getting restless and the Ouija board economics of the new administration may find some hard questions being asked.

    Thank God Geo Bush acted when he did last summer or the entire energy thing might have gone completely off the rails. We be buying oil from the Somali pirates as they poached every tanker leaving the Gulf.

    :nono:


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    Last edited: Feb 12, 2009
  6. Holy Diver

    Holy Diver Rookie

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    are you on Earth?
  7. Fogbuster

    Fogbuster Rookie

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    Because they brought down the Twin Towers???? :rolleyes:


    Seriously, I'm just glad it's Exxon-Mobil -- though their triple-chinned chairman makes me feel ill to see him -- than some foreign company.


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  8. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    And the fogman got an athletic scholarship to Dartmouth...
    Rush Limbaugh belongs to a union.. Nixon was a great president if it were not for Woodward and Bernstein... see a trend here...

    :yawn2::yawn2:
    Last edited: Feb 12, 2009
  9. Fogbuster

    Fogbuster Rookie

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    Actually, I'm up on the space station doing a little maintenance on the com system.


    But I plan to be back down soon.

    Thanks for asking!!!

    :singing: ..................................:singing:


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  10. Real World

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    I paid $1.89 yesterday, so WTF?
  11. Fogbuster

    Fogbuster Rookie

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    That's right. Hockey, football, and track (440 and javelin). But .... shh-h-h..... it was "under the table". They actually scholarshipped me for my academic excellence and good looks!!


    :D

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  12. Holy Diver

    Holy Diver Rookie

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    Word!

    it all makes sense now....

    If I were you, I'd stay up there for a bit. Things are pretty poopy down here. Give the rest of the crew a "whuddup!?" from me.
  13. Fogbuster

    Fogbuster Rookie

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    There you go!!! A lot better than Pelosi/Gore/Barney Frank/Chris Dodd's $4 a gallon, eh!


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  14. wistahpatsfan

    wistahpatsfan Rookie

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    Same here, 50 miles west.
  15. Holy Diver

    Holy Diver Rookie

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    really?

    Energy Task Force much?

    Dick Cheney at all?

    ever?
  16. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    Some people lie so much, they can no longer tell the difference... I suspect you may fall into this group.. did you email Rush??? You were so convinced he was part of a union..
  17. Holy Diver

    Holy Diver Rookie

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    YouTube - We Like Sportz
  18. shmessy

    shmessy Maude Staff Member PatsFans.com Supporter

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    #75 Jersey
    .........all it took was a Great Depression, a collapse of our banking system and the erasure of trillions of dollars of nest eggs for it to happen.

    But at least we've had two major tax cuts in the past 7 years and really low oil prices.

    Well worth it, eh?
    Last edited: Feb 12, 2009
  19. Real World

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    Apparently gasoline usage is up, causing the price to rise, despite the fall of oil. Hmmm....so why is gasoline scarce? It wouldn't be by design, would it? Nah...:mad:

    I hope this is investigated ASAP. I hope oil companies aren't purposely keeping gasoline scarce. I'll admit I didn't read enough, and that global usage could be higher, and refined gasoline production could have slowed, due to $140 oil/$4 gas. Still, it seems shady.
  20. Fogbuster

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    To put things into a little perspective: gas at the pump in England is $5.50 a gallon. That's not a misprint: $5.50 a gallon. And that's not a big change; it's been around that mark for years. Here in Lithuania, where we get our oil mostly from Russia, but also from U.S. companies, too, it's going for about $4 a gallon. Most of Europe is between the British price and the price here in the Baltics. Last summer when the U.S. price hit $4 a gallon, it was $10 a gallon in France, $11 in Turkey.

    So, $1.89?? Don't yelp too much.

    Think gas prices are high? Try $11 in Turkey - World business- msnbc.com

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  21. wistahpatsfan

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    You worry about your Lithuanian countrymen and we Americans will worry about our price of gas...butt out.
  22. Fogbuster

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    Finished your first sixer, eh? Too bad.


    :singing:....................:singing:........................:singing:



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  23. reflexblue

    reflexblue PatsFans.com Supporter PatsFans.com Supporter

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    Isn't there a thread just like this one with about 170 posts on it. Do we really need another one so Fog can repeat all his lies all over again.
    Whats he looking for a do over? :rolleyes:
  24. Fogbuster

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    Whatsamatta, undertaker, you run out of brewskies, too?? Go out and have one for me.


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  25. PressCoverage

    PressCoverage Banned

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    Our resident zealot continues to completely misunderstand global energy, and the supply and demand scale that affects energy price. Not that he even TRIES to understand it. Exposing himself to any real knowledge of science would only cut into his day of propaganda and missionary work. He then highilghts his profound ignorance by (bafflingly) "crediting" the outgoing dunce-in-chief for his speech about the prospects of offshore drilling -- a varitable drop in the bucket, even if they did build rigs off the coast of Florida.

    Anyhow, for people willing to educate themselves on the reality of oil price volatility, there's vast information out there... bottom line? Peak oil is occuring, production is crashing, and this dip in price is only temporary...

    And for the love of Pete, it has absolutely NOTHING to do with that idiot from Crawford...

    Environmental Capital - WSJ.com : Oil Prices: Get Ready for the Rebound
    Fadel Gheit: The market has been looking at OPEC as a savior. But as OPEC cuts, demand continues to slide—OPEC is just playing catch-up right now with falling demand. Once that stabilizes, prices will rise.
    I call it ‘the second oil bubble.’ The longer oil prices remain low—and low in my book is below $50 a barrel—the more violent the rebound is going to be. It’s not a question of if, but when.

    WSJ: Because lower prices mean less upstream investment?

    Gheit: Look, oil companies are going to lose 40% of their cash flow this year, and capital expenditures will be cut sharply […] If you thought the fourth-quarter numbers [for oil companies] were bad, wait until you see the first-quarter numbers. Oil prices are now about where they were five or six years ago, but the cost of extracting oil has doubled in that time…​
    Last edited: Feb 13, 2009
  26. PatsFanInVa

    PatsFanInVa PatsFans.com Supporter PatsFans.com Supporter

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    Nut uh there's plenty of oil and always was an always will be. Running out of oil is a myth. All that matters is that a guy says he thinks oil drilling is good, and presto, there's a glut.

    The circle-jerk of right-wing denial is just amazing. Oil is not running out, and never will. Global warming does not exist. Wait, yes it does after all, but has nothing to do with man. Apes evolved from men, whatever. Hold on sorry that was the religion on Planet of the Apes. Nothing evolved from anything... Thomas Jefferson and James Madison really favored a theocracy... the Puritans got a bad rap... Fortune 500 corporatos are most likely to take their tax cut money to Wal-mart...

    Dude, the house of cards collapsed. Everybody gets it now. Oil doesn't last forever. The Earth is warming, and we're accelerating it. The message of the major religions isn't "every man for himself" or "Get rich or die trying."

    I'm wondering how long the GOP in America takes before they understand they're looking at the will of the American people, when they look at our president and elected congressmen/senators. The old fables continue, the old "because I said so" mindset continues, the old belief in the Big Lie continues... but once again, nobody's buying.

    Hey, fringe righties: Adapt. Remember what happened to the dinosaurs.

    No, not a flood.

    PFnV
  27. Fogbuster

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    Might I suggest a size larger for your underwear. Amazing what a little less tightness can do for one's temperament!!


    ;)

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  28. Fogbuster

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    And it's just a matter of time before the word gets out about the fuse that lit this Chinese fire-cracker from hell: the CRA and its proponents and fellow-travelers.

    Sure, there's limited supply of oil. Duh. But *how* limited??? When Pelosi and her minions are blocking further exploration and extraction, who really knows how much there is, or isn't???? Nobody can say for certain, not even the demi-god, Michael Rupert, who uses extant data from which to interpret; but what is already known is not everything that *might be known*.

    The most pressing problem right now is the economy, and the cause of the melt-down is clear: poor banking standards, a melt-down of the entire premise of banking -- that people who borrow other peoples' money have a way to pay it back. When Barney, Chris, Jimmy, and Bubba lifted those fundamental laws of banking, the house of cards was created. And as all houses of cards are destined to become: it finally fell down. Probably pushed by either the Chinese or a consortium of George Soros and fellow far-left ideologues.

    YouTube - Timeline shows Bush, McCain warning Dems of financial and housing crisis; meltdown
    YouTube - Burning Down The House: What Caused Our Economic Crisis?


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  29. PressCoverage

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    ok toolbox.... white flag accepted...
  30. IcyPatriot

    IcyPatriot ~~~Out of Order~~~ PatsFans.com Supporter

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    #87 Jersey

    Fog ... are you saying the forum is a bunch of drunkards ... :rofl:

    I don't drink at all ... I guess I'm a minority then ... ;)

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