Here is an article that will adress my Theory

http://pbp.typepad.com/economy/2008/...ce-of-oil.html


Here is a wikipedia article
http://en.wikipedia.org/wiki/Peak_oil

Using the reserves so people can pay $2.00 for a gallon of gas is not what they are for.
They are intended for War.

They are called the Strategic Petroleum reserve
http://en.wikipedia.org/wiki/Strateg...roleum_Reserve

Here are the current numbers
http://www.spr.doe.gov/dir/dir.html

The SPR is only crude oil it's not a gas station. We are back again to refining oil, who is going to do it? The Saudis will! nobody wants a refinery in thier backyard. By the way that will be the next big debate, where are we going to build the refinerys?

OCG35

You disagree with my post? why? Disagreeing to disagree makes no sense. If you are upset you are paying $4.00 for a gallon of gas I feel yah. I feel it also, but it won't make the price of gas go down.

 

one thing is for certain... I'm kicking myself in the @ss for not investing 10 yrs ago or so... I'll never forget having a conversation with a co-worker about the price per barrel being over $40... I think it was around 40... whatever it was, it was a new high and I was baffled and though it was crazy! We were saying there is no way it would go higher

Damn it! I wish I had bought!!!

Google IPO too! I blew that one off! The 2 combined would be tens if not hundreds of thousands profit!

Good thing I'm not a stockbroker or financial analyst

 

nah - I only spend about $50 every month or 2... I disagree with many of the "opinions" you posted... IMO many of them hold no merit... I really dont care enough to squabble about it...

The fact is though there is a way bigger picture than how much we spend to put fuel in our tanks... it goes far, far beyond that... but again - I dont really care to get into all that crap right now.

 

If the Feds would allow new refineries there would be absolutely no problem getting it done! Even if the Feds would allow expansion things would get better... 60 year old refineries that are maintained by periodic turn-arounds is as inefficient as it gets... adding or making new refineries would be a blessing...

First things first though... we need to start drilling domestically. And YES, it WILL make a HUGE difference.

 

http://moneycentral.msn.com/investor...&DisplayForm=1

check out the stock link… don’t let the stock symbol fool you – they are an American company… check out what happened in May! In one week they had over 500% gains!

Why? They hit a huge well!
http://news.moneycentral.msn.com/tic...519&id=8665196

This could be happening all over the place!

Next step – adding to existing and building new refineries…

The “fad” of alternative fuel source will eventually fizzle (maybe not completely die) and once domestic oil is more readily available the entire economy will see change.

Problem is – it has taken too long to get to the stage we are in… so it’s still a bit of time before this will take shape.

 

Well the only thing I can say is we will see. I am pretty good at my predictions.

I will be so bold to say "I told you so".


But let's be clear on this point.
The price of oil will not come down just because a drill bit touched into the frozen tundra. It may start a cascade of other events but it is not the true panacea that creates our self sufficiency. The Arabs will be concerned.
If it makes the U.S. self sufficient then I am wrong by all acounts.

I love a good debate and I intend to keep it very cordial and professional.
It's not to stir up discontent but to inform and become more knowlegable about our world.

 

Me too! And when I don’t second-guess it... its almost always accurate! This one has no 2nd guessing.
I usually don’t do "I told you so" (except to myself)... never really need to - it's usually apparent.

 

Reason the oil is so high is the market. Im a stock broker and i realized that gas is only going to go up so as far as i was concerned i hoped on the band wagon to make enough in the market through there stock that it in a sense would cancel out what i pay at the pump each month. If you have a extra 20k lying around invest in exxon

 

I've been in oil and gas the past 16 months or so and my account has seen about 50% return per year. If that isn't amazing I dont know what is. The other funds I hold are in preciouse metals. Check that out!!!!!