Oil Price Leaps To Year's High

Oil Price Leaps To Year's High

www.guardian.co.uk

The price of oil burst through the $71 a barrel mark today amid revelations that proven reserves had fallen for the first time in 10 years and predictions that the price could eventually hit $250.

The latest high – from lows of $30 only four months ago – came on the New York Mercantile Exchange, where the cost of July deliveries rose by $1.35 to $71.36.
"I wouldn't be surprised if we're testing $80 in a week or two," said one analyst, while BP's chief executive, Tony Hayward, questioned...

(visit the link for the full news article)


Related News Links:
www.guardian.co.uk

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Exxon, Chevron Count Every Dollar Nightly to Protect $40 Billion Hoard!!!

[edit on 11-6-2009 by burntheships]

Another $4.00 a gallon of gas summer ahead?

At today's rate of use there is still enough oil to last the next 42 years, according to the oil company, although those concerned about Peak Oil say we are closer to running out given demand is expected to rise strongly in the short-term.

Gas price manipulation is happening! TPTB are using this do further collapse the dollar!!!

Predictions of $250 a barrel on fears for oil reserves, hopes of economic recovery and hedging against weak dollar...



www.guardian.co.uk
(visit the link for the full news article)

reply to post by burntheships


We are already at $3.05 a gallon in Northern California. We never really got to see any real breaks in the price to begin with. Everything here is outrageous in price to begin with! I went down to the store to pick up some bun's for sausage's and they had gone up 50 cents in two days! It is just getting crazy here with all the price increase's.

reply to post by xoxo stacie


Yes I live in Northern California also...last summer just about broke the bank. I remember filling up my tank and it was 80.00! Had to do it to get to work...you know they know they have us trapped with the gas prices.

What I know...and I am going to start doing this...again!

Get gas in the morning as early as possible...the colder the gas the more you get for same price...

Do not let your tank get empty...get gas in the a.m. with half a tank still in to reduce evaporation....

Seems like there was one other trick...anyone?

The bastards..

How does it feel to be used? How does it feel to be manipulated at every turn? How does it feel that our representatives aren't only not taking action to block price gouging, but enabling it?

I'm going to ride my motorcycle and bike all summer. I'll be surprised if they get 200 dollars out of me!

I'm limiting my environmental impact and also I'm trying to keep as much of my money out of their hands as I can. 100 million personal revolutions would check corporatism so fast, they wouldn't know what hit them. They rely on us! Not the other way around.

reply to post by DeadFlagBlues


Good for you! Awesome to hear about the bike plan...wish I could! What I did do though was to stop all unplanned driving, starting carpooling, going to Winco with a friend...etc. Made a huge difference. I hope everyone sends "them" a message!

Use it up, wear it out, make it do, or do without!


[edit on 11-6-2009 by burntheships]

reply to post by burntheships


Well, we saw what happened when gas was so expensive! Everybody started tightening the reigns on how much they would spend and came up with creative ways to avoid going to the pump. Oil plummeted! Now that they softened up we've gone back to driving our SUV's with one person in them to go pick up groceries or go to work. There's part of me that has incredible faith in America and part of me who thinks it's futile. We never collectively follow through on anything for our benefit.

Im getting pretty sick of this..

I get approx 40 miles per gallon in my car but in the last week prices have hit €1.15 per liter.. thats €5.75 per gallon..

Thats $8.04 per gallon in dollars..

I was in Holland a couple of weeks ago and passed a petrol station in Amsterdam where it was over $10 per gallon for petrol

The next car im getting is a hybrid coz im sick of forking out a fortune on this crap.

Oil prices in the UK have been going up for months now, Diesel in my area cost's £4.59 per gallon already (the equivalent of around $7.52 per gallon iirc?)

reply to post by burntheships


I asked my wife, does anyone come in your store and curse Obama because the price of gasoline has gone up? And she told me, "No, of course not." Heh. I knew the answer before I asked the question. lol.

These clowns cursed Bush when the price of gas went up, and when it went down, no comment. lol. I used to go to my wife's store when the price of gas dropped and praised Bush for lowering the gas prices and got dumb ass looks. And now I go to my wife's store while gas prices are rising and curse Obama, and the sheeple
look at me like I am a terrorist. Heh. Dumb assed people.

Originally posted by Dermo

The next car im getting is a hybrid coz im sick of forking out a fortune on this crap.

Might be worth looking at a small turbo diesel rather than something like a prius? i have a Nissan micra 1.5dci and around town this does 60+ mpg and on a long run (whilst driving really slowly admittedly) a couple of times I have had it doing an indicated 93mpg (80+ is pretty easy to get)

reply to post by solidshot


I remember reading an article about a small turbo diesel Ford Festiva (maybe?) that's fuel mileage rivaled that of a prius, except you had things like acceleration, power, and it didn't look like a shoe. They said that the car wasn't viable in America and that there wouldn't enough demand... Figuring in that America has the most traveled highway systems in the entire world, and personal vehicle ownership rate is also higher than anywhere in the world. I see those shoe shaped green cars everywhere I go! What do they mean not "viable!?????!?!?!?!"

Originally posted by solidshot
Nissan micra 1.5dci

Im 6ft 2" & 95kgs, I don't do Nissan Micra's lol

There's a bucketload of wicked looking and performing hybrid and semi electric cars coming on the market later this year and early next year.. Also, by then there will hopefully be decent resale prices on previously owned hybrids.

Originally posted by Dermo

Im 6ft 2" & 95kgs, I don't do Nissan Micra's lol

I'm 6ft and around 19 stone :p and can still fit with a reasonable amount of room inside

The oil companies are positioning themselves to TAKE any recovery in the economic decline through higher oil prices.

It is the factor the Obama administration failed to foresee in their reckless "recovery plans". In fact they have, are and will push through agendas and legislation which will increase dependence on foreign oil. It is and will be a contributing factor to the economic decline, and will eventually will accelerate the collapse.

Every penny per gallon increase in the price of fuel is transferred to higher costs for goods and services to all, it is in part what caused the domino effect that lead to the sub-prime crisis and other factors in the private and financial sectors that brought down the economy and led to the dire economic status we are in.

It didn't have to be this way folks.

It could have been avoided by increasing exploration and production of domestic oil and actually using some of the now wasted trillions in government spending on stimulating the private sector.

It is a common sense approach, and it would have worked, which leaves the question.... Why are their plans so counterproductive?

Do they actually want the economy to fail completely?

The bow to the Saudi king and and the gift of a golden necklace is starting to make perfect sense now!

[edit on 11-6-2009 by Walkswithfish]

That would be hilarious to see 6ft+, 15stones+ in micra cars.

I don't know why Americans are moaning, they drive around in tank-like SUV's with 6litre V8 engines. It seems that 1.0litre cars are beneath you.

Also, your country isn't too friendly for a public transport infrastructure. Just keep building them roads, make them wider and feed that oil $$.

btw, in the UK 75% of every litre of fuel IS TAX. I'm sure that goes into the nuclear proliferation program and Trident, because the bloody roads don't seem to getting better.

those concerned about Peak Oil say we are closer to running out given demand is expected to rise strongly in the short-term

Demand is expected to rise; yeah right and pigs fly. It has turned into a stay-at-home society, so you have to question the bail-outs for car manufacturers. They've been sitting on efficient cars for decades, but the technology will never be made mainstream. They have too many countries to rape and pillage the oil from.

Just check out google maps and look at why the Caspian Sea is so important. It's the last bastion on the planet where oil is easily mined (BTC pipeline), so the war in Iraq will never, ever end.