Peak Oil

[Moose1am]

http://www.lifeaftertheoilcrash.net/

http://www.cnn.com/2008/TECH/science/05/13/Oilbriefing/

http://www.peak-oil-crisis.com/

[BSeybold]

You can link to all the oil and environmental sites you want to but the bottom line is that a few people are taking advantage of the needs of many.

The oil companies are destroying the very society that allowed them to get as powerful as they have become. You can not tell me that gas is so expensive to produce when a single oil company made almost 11 billion dollars profit in one quarter. It has become strictly a case of corportate greed.

I don't know of anyone that has not already made some effort to lower their gas consumption whether is be via cancelling a fishing trip or simply making one less trip to the grocery store. As we lower our demand over the next few years then oil will at least stabilize and the oil companies will try to encourage us to go back to our old ways and use more of their products so they can repeat this cycle all over again.

To me this gas situation is the same as it was in the 70's. The oil compaies will gouge us until we make them stop. Then they will become our best buddies again.

[DJD]

I agree but I would say don't forget OPEC and their Monopoly they have on their oil.

[BSeybold]

This is my question;
If OPEC oil is so expensive then how did an oil company make almost 11 billion dollars profit in a single quarter.

I would like to know just how much oil they buy from OPEC and just how much of their own oil do they sell themselves at OPEC prices.

This is where they are making all their money. Pure rip-off.

All a poor man can do is to cut his usage. Another thing I can't understand is why the truckers aren't screaming their heads off.

[Bobby Headrick]

I heard this from a guy who's brother works for a BIG GAS company and he said his brother told him that they are paying the same they did last year and years prior. His brother is wanting to leave his job but due to the ecomony he cannot afford to quit. Something is rotten somewhere.

[DJD]

This is my question;
If OPEC oil is so expensive then how did an oil company make almost 11 billion dollars profit in a single quarter.

I would like to know just how much oil they buy from OPEC and just how much of their own oil do they sell themselves at OPEC prices.

This is where they are making all their money. Pure rip-off.

All a poor man can do is to cut his usage. Another thing I can't understand is why the truckers aren't screaming their heads off.

IMO,
1) We use more oil and they raise their rates as needed.
2) Go to the US Energy site and you will find the monthly breakdown of where we import oil from. Looks as if we get more from nonopec nations than opec. There are 52 other countries that we get oil from other than opec, very interesting. Google OPEC as well and you will see some more stuff.
3) Saudi's pay .45 cents for a gallon of gas according to one of the news sources.

Man, I think it's stinks to high heaven and there is always greed and corruption in business so your right we are a victim of that as well.

[Stonewall2002]

The other day I saw three Black Helicopters hovering over the local BP. After about a couple minutes long black tubes descended from their undersides and they began to siphon gas out from the tanks below, all while no one at the station noticed. When they were done the attendant came out and raised the price on their sign almost $.50. Strangely the attendant looked eerily like Bush. I think the government is stealing our gas and giving it to BIG OIL so that they can sell it back to us at an even higher price. Oddly enough my neighbor, who is an Arab, drives a Hummer.... and I have never seen him stop for gas. I want to move, but the recent GOP created Depression is preventing me from doing so. Cant wait till Obama is elected so he can "change" things for the better. Cant put my finger on it, but something just aint right.....Cue the "Twilight Zone" theme.....

[DJD]

If Hillary doesn't get the V.P. position then Obama will lose. He needs her!
I still think McCain can pull enough Democrats over from the dark side (especially if the Hillary supporters don't see her on the ticket) and Independants to pull it off. Obama's associations with whitey hating pastors will hurt him as well. Of course these are my dreams and wishes! Once Arizona Joe Arpaio gives him the nod it's over turn out the lights!!

[bassin_bug]

Not all of the oil companies in the United States buy gas from foreign companies. There is a decent list of companies that sell oil that is produced in this country. We need to start patronizing those companies instead of those buying through OPEC and Venezuela (sp). If we would all join in and refuse to buy gas at the "Big Oil" stations we can make a difference. Until we do, we don't have a right to complain about high prices because we are enablers.

[stratosjoe]

If it is produced in the U.S and sold in the U.S. at the same price as OPEC oil are they not doing the same thing to the consumer?

[Moose1am]

I labeled this thread "Peak Oil" because I wanted to see if anyone believes that we have reached the point in time where we have pulled 50% of more of the oil out of the ground. That's what is meant by peak oil.

The output of oil in the world has been flat for the last three years. Now is that by design or did we really reach the point of max capacity of pumping oil out of the ground and are unable to pump more to meet the growing worlds demand for oil

So what do you believe?

As for the links above.. I just did a google search for the words "peak oil" and then chose a few links at the top of the google list that I thought may help explain the concept of "peak oil".

I don't think anyone really knows what's going on. I say this because the oil companies are in competition with each other in many ways. They are keeping secrete any oil fields that they discover. So EXXON is not telling the other companies what they know and vise versa.

And no one oil company can know what's under the ground everywhere.
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I was watching a hearing that congress was holding. It was on TV yesterday but it could have been taped earlier for all I can remember. I just watched it for a short time. But they were discussion the futures market and how by it being unregulated it was leading to these higher prices due to speculation.

One guy was saying that if this government agency would simply start regulating again that the price of oil would drop by 25% or maybe even 50%.

It sounded really good but heck if I know if he knows what he is talking about.

But I would point out that back after 2000 we had this company called ENRON that put a lot of people in the poor house. Anyone remember Ken Lay?

The folks running ENRON were manipulating the energy markets out in California and it was a mess.