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OPEC president sees $200 oil possible

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posted on Apr, 28 2008 @ 07:31 AM
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OPEC president sees $200 oil possible


biz.yahoo.com

ALGIERS (Reuters) - OPEC President Chakib Khelil does not rule out oil prices reaching $200 a barrel, even though supply is adequate, because the market is driven by the dollar's slide, Algerian government newspaper El Moudjahid reported on Monday.
(visit the link for the full news article)




posted on Apr, 28 2008 @ 07:31 AM
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Its more than just the declining value of the dollar. Market speculation, panic, hysteria, and alarmists play pretty big roles in this mess. Once oil hits past the $155 mark the US economy will begin to grind to halt. Ours isn't the only one though, much of the industrialized world will be affected.

For the Global economy to function, a new system must emerge. A 21st century Bretton Woods system. If something is not done to control out of control devaluation and soaring commodity prices, we'll find ourselves in the middle of global meltdown of revolutions and chaos.

biz.yahoo.com
(visit the link for the full news article)



posted on Apr, 28 2008 @ 07:42 AM
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I have found out who the problems are .....here is a must watch very very very very powerful video
www.youtube.com...

You have to watch all 8 parts to get the full story the first couple are boring but important to understand whats going on...this explains everything..



posted on Apr, 28 2008 @ 07:50 AM
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Originally posted by MikeboydUS
Ours isn't the only one though, much of the industrialized world will be affected.


When you think about how much fuel the shipping industry goes through year by year that's an understatement.

Say goodbye to those cheap chinese goods, friend.

You know, When i look at how business and government are pathetically squabbling over how it would be best to deal with this, i'm starting to think it's nessecary for me to opt for the more extreme approach to protecting myself if things get as bad as i think they will be.

I don't want to end up like that, i'll probably end up hurting people who refuse to get out of my way (if i even give them the benefit of an option of getting out of the way).

But anyway, now is not the time for dwelling on things to come.



posted on Apr, 28 2008 @ 07:57 AM
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Well you can take that to the bank. Last summer, when I first logged on to ATS, one of the first things I read was a thread with a link detailing how oil will be $125 -150 by this summer. We are already there - $120.



posted on Apr, 28 2008 @ 08:55 AM
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The "speculation" are to be in the 200/225 mark, remember that people are making money on speculations as we speak.

Now this is going to happen during the next 4 years, just wait when the elections are over and you will see the real prices on gas at the pump surge to incredible amounts.

Now the speculators are creating the energy bubble this energy bubble just like the housing bubble will eventually crash and some analyst said that depending how hight the prices on oil will go thats how bad is going to come crashing in about 4 years.

So we have enough time to buy a horse and carriage.



posted on Apr, 28 2008 @ 10:46 AM
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Originally posted by mybigunit
I have found out who the problems are .....here is a must watch very very very very powerful video
www.youtube.com...

You have to watch all 8 parts to get the full story the first couple are boring but important to understand whats going on...this explains everything..


Not to pick on you in particular, because there are many more who do this, but;

Why don't people post a synopsis or description or something to go with these video links? Its so frustrating... You see it all the time on ATS. It never used to be like this.


On topic - $200 oil won't be the end of us, it just makes other forms of energy generation more viable. The days of cheap energy are gone.

S.



posted on Apr, 28 2008 @ 10:56 AM
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Marg is right, this is just like the Dot Com Bubble and the Housing Bubble.

The Food and Oil "Crisis" is an intertwined Economic Bubble.

When it Bursts or Crashes, Many wealthy people will no longer be wealthy. It will be a crash probably on the scale of the Great Depression.

Large amounts of assets will suddenly be worth far less than what they were paid for. It will be a drastic wealth adjustment or "correction".

[edit on 28/4/08 by MikeboydUS]



posted on Apr, 28 2008 @ 10:59 AM
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Yes but as history will tell the elites in the world that control he oil productions, you know the Arabs (most of them) will do what they did back in the 90s

Remember back in 1980, Congress passed the Energy Security Act

This launched the creation of Synthetic Fuels Corp..

The government awarded billions of dollars for the research on synthetic fuel, well it seems that our friendly oil producing nations didn't like that idea so they the Organization of Petroleum Exporting Countries lowered their oil from $39 a barrel to less than $8 a barrel.

So the need for Synthetic fuel went bye bye.

Interested article by Glenn Beck

U.S. is a suicidal superpower

www.cnn.com...



posted on Apr, 28 2008 @ 11:05 AM
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reply to post by marg6043
 


Marg:

Not many people remember that.

Heck, ze Germans were working with synthetic oil in World War 2!! You mean to tell me that the US, for instance, can't do something like that in 2008, in a country that isn't getting it's shorts bombed off twice a day?



posted on Apr, 28 2008 @ 11:12 AM
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reply to post by marg6043
 



It will probably be synthetic fuels and oils that causes the crash. Suddenly petroleum won't be as needed anymore. OPEC will try to drop prices, but the poor speculators who have billions tied up in oil assets will find themselves with a whole lot less money. Tulips!



posted on Apr, 28 2008 @ 11:18 AM
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Don't like Glenn Beck but he raises some good points here:

US is a suicidal superpower

Our fuel policy has been even more absurd. We're completely dependent on foreign countries, many of whom hate us, to keep our trucks moving, our planes flying and our homes warm.

That's not arrogance and suicidal stupidity?

Take a look at the top five countries we currently rely on for oil imports. You tell me if these are the five you would choose if you were creating your own world superpower from scratch: Canada, Saudi Arabia, Mexico, Nigeria, Venezuela.

Aside from Canada, that's not exactly a "Who's Who" list of stable, America-loving countries.

And if you think I cut off the list at five because the next five are so friendly, think again. Here's the next five: Iraq, Angola, Kuwait, Colombia, Ecuador.

The point is that we don't control our own destiny, foreigners do. Despite bipartisan hatred for high oil prices, they've gone up 49 percent since 2006. If we could've done something, anything, to stop that, we would have. But the sad fact is that we can't.

That's why, instead of offering real solutions, most politicians offer something else: blame. Democrats blame Republicans, Republicans blame Democrats, and nothing ever gets solved.



Fortunately, there is some good news in all of this: Oil prices this high mean that a lot of formerly dismissed alternatives will finally make good economic sense.

For example, back in 1980, Congress passed the Energy Security Act, which led to the creation of something called the Synthetic Fuels Corp. (SFC). Lawmakers provided SFC with up to $88 billion in loans and incentives to get started (the equivalent of about $230 billion in today's dollars) with the goal of creating two million barrels a day of synthetic oil within seven years.

So why aren't you putting SFC oil into your SUV right now? Well, it turns out that members of the Organization of Petroleum Exporting Countries didn't appreciate the competition so they started bringing down the price of oil. From 1980, when SFC launched, to 1986, when it was shut down, oil went from more than $39 a barrel to less than $8 a barrel. Suddenly, synthetic oil didn't seem so important anymore.

In announcing the SFC's closure, then-Energy Secretary John Herrington said that oil prices had simply dropped too low to make it a viable business.

But the good news is that those economics don't work anymore. The state of Montana, which is leading the synthetic fuel charge, says we can now make it for somewhere around $55 a barrel. That's more than a 50 percent discount from what it costs to buy the real stuff.

It's the opportunity of a lifetime, a chance to use OPEC's price gouging and monopoly against it.

So let me be the big, dumb rodeo clown once again and ask the obvious question: Why aren't we doing it?



posted on Apr, 28 2008 @ 11:19 AM
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reply to post by MikeboydUS
 


It just shows that oil is not dominated by so called "peak oil" but the decline of the American Dollar..

As the Dollar falls it would appear the price of oil will continue to rise.

So eventually countries will stop buying in dollars, stop selling in dollars or America gets a new currency because it doesn't look like it's going to slow down does it?



posted on Apr, 28 2008 @ 11:21 AM
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Originally posted by jerico65
reply to post by marg6043
 

Marg:

Not many people remember that.


I am going to be honest with you, I had not clue about this Synthetic fuels at all, yes I am familiar with the more commercialized synthetic oil you know the ones you find on the shelves, but that was it.

MikeboydUS, I wonder why is not money been used right now to start the 80s program back.

To tell you the truth I think the reason is because we are so tied up with corporate America in our government that this is will not be good for their fat pockets.

But this indeed could bring a crash on the energy bubble.



posted on Apr, 28 2008 @ 11:23 AM
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reply to post by marg6043
 


Didn't even notice that you had posted about that. Glenn Beck wrote about the same thing today - that's what I was quoting.

Good call!



posted on Apr, 28 2008 @ 11:24 AM
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I hope they like $600.00 a bushel corn cause once we pay it for oil we are going to get it back. They sand people are selling their children's starvation. idiots. We may not sell them any at all. They never thought about that eh?



posted on Apr, 28 2008 @ 11:25 AM
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reply to post by Sublime620
 


I don't like him either but this article caught my attention, with all this energy wars we are having, specially with the food crisis in the world due to the diversion of grains into production to feed bio-fuels.

This is not getting the attention it needs in the news, I can not find any news sources talking about synthetic oils as an alternative to work against the natural oil



posted on Apr, 28 2008 @ 11:28 AM
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Middle East countries do import large amounts of their food from various regions of the world..

And while most are completely socialist, the people themselves don't really get any of the oil money..

So with food prices rising, theoretically those in America and in Europe as well still have it better off then the Arabs.



posted on Apr, 28 2008 @ 03:02 PM
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Originally posted by Smokersroom

Originally posted by mybigunit
I have found out who the problems are .....here is a must watch very very very very powerful video
www.youtube.com...

You have to watch all 8 parts to get the full story the first couple are boring but important to understand whats going on...this explains everything..


Not to pick on you in particular, because there are many more who do this, but;

Why don't people post a synopsis or description or something to go with these video links? Its so frustrating... You see it all the time on ATS. It never used to be like this.


S.


Ok this is an 8 part video that explains why the energy crisis is non existent and there is more than enough oil out there for everyone. It explains the ties from oil to the federal reserve and World Bank and how this is all about money for the elites and we are not talking about the oil companies either...its a very very powerful video but you have to watch all 8 parts. There is a thread right here about this video done by my buddy jackinthebox
www.abovetopsecret.com...'
please feel free to comment there on the video...and yes $200 oil is possible in the near future along with 5 to 6 dollar gas to be ready...

[edit on 28-4-2008 by mybigunit]



posted on Apr, 28 2008 @ 03:41 PM
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reply to post by gaeliclad
 


I agree that as the dollar falls oil will go up, but here recently with this spike up to almost $120 the primary factor was market speculation.

Normally as the dollar falls, gold and silver will go up. Well gold and silver appear to have stabilized around $16-18 for an ounce of silver and $880-900 for an ounce of gold. The dollar has actually risen in value recently. Yet, oil still manged to get to $120. The Silver and gold reflected the dollar rise and dropped in value accordingly. Yet this is not the case with oil.

So the main problem is market speculators who are blowing up one hell of a bubble. If they don't watch out it may explode. Just like Tulips, Japanese Businesses, Internet Companies and Real Estate.




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