Oil $75 a Barrel!

Oil Touches Record Above $75 a Barrel

Crude-oil prices reached a new record of $75 a barrel Friday amid concern about Iran's nuclear ambitions and declining U.S. gasoline stocks.

U.S. pump prices also kept rising, with the average price of a gallon of unleaded regular gasoline at $2.855, up 3 cents from a day earlier and more than 60 cents higher than a year ago, according to AAA's daily fuel gauge report.

Analysts say oil prices are likely to climb higher in the weeks ahead as worries grow about how international pressure on Iran, OPEC's No. 2 oil producer, will affect its crude output. Rebel disruptions of oil production in Nigeria also pose a risk to world supplies.

More...

See also:

Record Gas Prices Rise Even Higher

Gas shortages hit the East Coast.

Exxon Chairman Gets $400 Million Retirement Package

This is going to get a lot worse....

BTW, if you want to check local gas prices by zip code, here is a great resource:

Local Gas Prices

[edit on 21-4-2006 by loam]

And the worst is. . . that the oil barons still have not been clear on the reasons for the oil hype.

Funny but. . . as long as the American consumer pay the prices nothing will be done.

But hey. . . wait when the services and prices on common items starts to get up because inflation.

I wonder how many people in America still remember what inflation means.

Wouldnt you hate to have to get out of town in a hurry? God help us if we have to leave in a hurry, in my case seeking higher ground, with these prices?

Why is everything coming unglued? Is God on vacation?

This is just plain propostrous.

Honestly, I don't know what to do anymore. I live in the suburbs; and when you grow up in the suburbs, you get used to driving. I drive 30 miles (each way) to work, and another 25 miles (each way) to attend college.

Thats 110 miles a day!

When the prices spiked to $3.00 a gallon during Katrina, I was bamboozled. I paniced and didn't know what I'd do. Then they eventually dropped down to $2 and I was ok for a while. Now, it's been around $2.80-$3.10 for the past few months, and I'm dirt broke.

I'm loosing my house, all my ultilities are behind, my car payment hasnt been made for 2 months now. And they keep raising the prices.

Pretty soon, I'm going to be living in my stolen car on the college campus parking lot.

Oh, and I was told I don't qualify for financial assistance because I'm "not black" (their exact words).

Go figure.


[edit on 4/21/2006 by QuietSoul]

Originally posted by QuietSoul
Honestly, I don't know what to do anymore.

I feel your pain my friend, we just parked one of our cars and will remind in our driveway until things get better.

But you know that very soon prices on everything that is move around and that require the use of gas will get higher in prices.

Inflation is in our way, and our minimum wages are still the same.

I'm sorry quetsoul, truly.

I havent been "shopping" for months- That designer bag i love? If i bought it i'd have to eat it for supper, y'know?

Always robbing peter to pay paul...Its just not fair.

Q1 Earnings for most of the petroleum companies will be released over the next two weeks.... Here's a preview of what to expect:

BP set to post strong profits

Solid 1Q Conoco refining margins expected for whole sector

Schlumberger first-quarter profits climb

Woodside's First-Quarter Sales Rise 25% on Oil Prices

PetroChina Shares Rise on 1st-Qtr Gas Output, Oil Price Gains

Looks like a veritable global petroleum party... :shk:

This is crazy!

Originally posted by dgtempe
I'm sorry quetsoul, truly.

I havent been "shopping" for months- That designer bag i love? If i bought it i'd have to eat it for supper, y'know?

Always robbing peter to pay paul...Its just not fair.

I always used to wonder why people rob convientent stores or banks. I always wondered why people mugged other people. I've always wondered what it was like to "live poor".

I now know what drives people to steal. Desperation. And I'm damn close.

At this pace, I'll never finish college, and I'll be living like this my whole life.

SOMETHING HAS TO GIVE!

Weak dollar, corrupt politicians what do you expect. Exxon might make 40 billion in 2006. Republicans just love collusion.

Hmmm, how long has it been now that we must pay to exist in our modern world?
For most of our existence we lived cash free, now it's like a noose around our necks if we don't have it.

It's philisophically wrong, but realistically it's our modern way. Hard to live up to your ATS name (quiet soul) when your world is crumbling, but I don't think you are alone, I'm sure there are many stories like yours in the naked city.
The suburbs are doomed, and are a throwback to cheap fuel, another era (or error) the trend will be to move closer to the city where everything is you need is accesable by walking or bicycle.
The suburbs are an expensive place to live when you must burn fuel to meet your needs. It's not realistic., I see a lot of ghost town suburbs happening as they become increasingly to far from convenience to live in.

Quiet soul, get out of the suburbs, it ain't working for you.
Good luck.

Look on the bright side thou. Americans will have to start using bikes and walking. We might not be a nation of fat lazy idiots anymore!


[edit on 21-4-2006 by DiRtYDeViL]

Quiet soul said:

I always used to wonder why people rob convientent stores or banks. I always wondered why people mugged other people. I've always wondered what it was like to "live poor".

Although I have never resorted to crime, I have entertained the thought during low points in my life. I have also come to realise why someone would want to commit suicide, I have never given it consideration, but my understanding why someone would do it became much clearer.

As fuel prices rise, watch desperate people resort to crime, desperate times = desperate measures.
Heck, I saw on TV this guy pawning his lawnmower (this guy does yardwork for a living) just to buy gas to tote about his family. The pawn shops are getting busy. What then when these people have nothing left to pawn?

Originally posted by Toadmund
What then when these people have nothing left to pawn?

A nation of slaves which is what the Elite wants problem is it will back fire on them hard. Off with their heads will be a common theme.

Originally posted by marg6043
oil barons still have not been clear on the reasons for the oil hype.

Speculators are driving up the price. It's all based on fear that
there will be a war with Iran. Every time that Iranian president
says something stupid .. oil prices rise in a fearful response.

At least that's what I see.

Originally posted by FlyersFan

Speculators are driving up the price.

I have seen that also, but when asked they can not come out clear so is seen as just lame excuses.

After all we do not buy crude from Iran and very clear the president has said that he is not going into war and that is just on the table as other alternatives to deal with their problem.

More and more I see it as a way to reap the American consumer.

Iran is not the only issue....Nigeria plays a significant role too.

Delta crisis causes Nigeria's oil earnings to plummet

Oil Rises to a Record $75.15 on Concern About Iran, Nigeria

Originally posted by loam
Iran is not the only issue....Nigeria plays a significant role too.

Yes but the ones that are pumping the oil in Nigeria are American oil companies, so why the companies are reaping record profits while we pay the prices?

It is because we are paying for their loses on the drilling while they keep their profits intact.

It makes no sense and stinks to no end.

This is starting to look real ugly...

I'm worried that the blood bath is very near. In addition to the high price of gas, there is also all those adjustable rate mortgages that many say will implode the housing market...

This is like watching a high speed train racing towards a concrete wall...

Originally posted by loam
This is starting to look real ugly...

Loam is called Inflation a word that many has forgotten through the years, specially if you are very young.

Quiet soul I hope you find a solution.I think education is very important and if I could help you to keep getting that education I would but unfortunatly I am in the same boat as most of you.I wanted to go back to school this August but I made too much money last year or so they say anyway to qualify for finacial aid.

My work has seen a dramatic decrease in business because people can't afford to go out and sit down to a good meal and instead have to get things off the value menu at the drive thru at a McDonalds or something to save those extra bucks for gas.I went from working 40+ hours a week to getting 30 a week if I'm lucky.Business has gotten that slow.

If gas hits $4 or $5 a gallon I fear people will be staying home for dinner and I'll be out of a job.

Ford is running commercials for a new pickup that runs on fuel made from corn grown right here in the midwest...F150 Midwest Edition I believ they called it.Gee wiz they couldn't have thought of this sooner?

But then the oil companies wouldn't be able to give out those $400 million dollar retirements


[edit on 22-4-2006 by Simon_Boudreaux]