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Posted: 4/17/2006 1:17:33 PM EDT
Oil prices settled at a record high above $70 a barrel on Monday, rising more than $1 on concerns about supply disruptions in Nigeria and diplomatic tensions between the West and Iran over Tehran's nuclear ambitions.
Thank you Nigeria and Iran. 
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Posted: 4/17/2006 1:18:41 PM EDT
[#1]
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Posted: 4/17/2006 1:18:49 PM EDT
[#2]
I'm lovin' it, the exxon stock is up again today!
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Posted: 4/17/2006 1:19:09 PM EDT
[#3]
I've been meaning to buy a large SUV. This should make it easier to find some good used ones. 
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Posted: 4/17/2006 1:19:48 PM EDT
[#4]
Nice chart. It's so scientifikee,
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Posted: 4/17/2006 1:20:02 PM EDT
[#5]
Why is it no one realizes on a S&D chart the supply and demand curves dont go in the same direction? |
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Posted: 4/17/2006 1:21:57 PM EDT
[#6]
It's a Napoleon Tanerite Chart. 
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Posted: 4/17/2006 1:25:22 PM EDT
[#7]
because there is not a finite supply of oil. as demand increases, available supply does as well to meet that demand, but the cost of generating that available supply increases as well to eventually exceed the demand. and on a different note: just think, GM cut the zeta platform (GTO and possibly the new camaro) so they can speed new SUVs and large trucks to the market 
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Posted: 4/17/2006 1:27:47 PM EDT
[#8]
I have been wanting an H2 since they came out, for collector's purposes of course... |
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Posted: 4/17/2006 1:28:13 PM EDT
[#9]
IT's all fucking bull shit the goverment should say they can only make a 2 cent profit on every gallon of oil. Watch it drop back down to 1.03$.
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Posted: 4/17/2006 1:29:41 PM EDT
[#10]
Maybe, just maybe, if we quit sucking it up like it's going out of style....
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Posted: 4/17/2006 1:29:54 PM EDT
[#11]
Yeah but still. en.wikipedia.org/wiki/Supply_and_demand 
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Posted: 4/17/2006 1:30:28 PM EDT
[#12]
FILTHY SOCIALIST! WHY DO YOU HATE CAPITALISM AND FREEDOM SO MUCH!!!???? 
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Posted: 4/17/2006 1:32:19 PM EDT
[#13]
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Posted: 4/17/2006 1:33:27 PM EDT
[#14]
Well to be a pain in the ass, for a classic Supply/Demand chart, Price would be Y-Axis and Quantity X-Axis; price wouldnt be represented on the graph. This would result in the supply/demand curves intersecting somewhere evenetually (think equilibrium point), so theyd form an "X" shape if you will. Im sure someone better at economics could add their 2cents, thats just what i remember from class. Edit: Yeah just see the pretty graphs above. |
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Posted: 4/17/2006 1:33:43 PM EDT
[#15]
The blue line in your graph represents supply, while the red is demand only.. where they meet is equilibrium price... |
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Posted: 4/17/2006 1:34:33 PM EDT
[#16]
I don't know. It just seems like there fucking us in the asses thats all. I don't like getting raped by some oil company. Fucking capitalism always fucks you in the long run. |
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Posted: 4/17/2006 1:34:44 PM EDT
[#17]
NutOfGuns,
Sir, please stay away from sharp objects and have someone lock up your firearms. Your ignorance of business, economics, and the proper role of government is ass-tounding. |
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Posted: 4/17/2006 1:35:26 PM EDT
[#18]
I think your chart is backwords well if you refer to oil it is right. |
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Posted: 4/17/2006 1:35:53 PM EDT
[#19]
it IS still a MS paint chart afterall.... it's not like i ripped it out of an economics text book... the general principles still apply however.
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Posted: 4/17/2006 1:36:06 PM EDT
[#20]
what people don't seem to understand is that oil is not just any commodity which is produced in a factory or any other natural resource which is mined from the ground. you can't shift production as high as you want to or produce it as fast as you can drill holes in the ground. if you use water injection and pump a well too quickly, you can permanently damage the reservoir and reduce the amount of recoverable oil it contains. yes, you can always spend more on exploration, but large discoveries are becoming more and more rare. yes, there is lots of oil to be had from tar sands and shale, but it's "scraping the bottom of the barrel" as far as oil resources go, because it is very difficult to extract. for tar sands extraction, for example, massive amounts of natural gas and/or electricity is needed - and in order to fully exploit this resource, it's quite possible that several nuclear power stations would have to be built - which would take years, if not decades. the problems we are seeing now are due to imbalances in supply versus demand. moreso than in most industries, supply cannot immediately be increased to meet demand, there is quite a bit of lag time in order to exploit new sources of oil. as such, we can expect to see high prices or even shortages for the time being. |
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Posted: 4/17/2006 1:37:10 PM EDT
[#21]
I know that the goverment is sapose to stay away from business but you have a oil person in the White House and you don't think he is loving every second of this?\ Remember theese days?Gas. 
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Posted: 4/17/2006 1:39:16 PM EDT
[#22]
My Jeep gets 13 MPG and I don't give a crap!
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Posted: 4/17/2006 1:40:29 PM EDT
[#23]
Looks like the General will be giving away new trucks again
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Posted: 4/17/2006 1:41:21 PM EDT
[#24]
That's better than my FJ40... 
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Posted: 4/17/2006 1:41:33 PM EDT
[#25]
Hey you can drive a 169 miles with that if it has a 10 gallon fuel tank. Thats like from the gas station in new york city to the one almost in boston. The oil company is going to put them sells out of business. I hope the car companies just help them a little bit that is help them go out. I would like one of those hydrogen cars. |
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Posted: 4/17/2006 1:42:45 PM EDT
[#26]
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Posted: 4/17/2006 1:44:03 PM EDT
[#27]
 Thats what I drive. (the big one) I get .245 miles to the gallon. Edit: And my tank gets .2 miles to the gallon. 
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Posted: 4/17/2006 1:56:19 PM EDT
[#28]
That's a genuis move, then the oil companies can't afford to explore for more reserves and build new platforms. Then the supply dries up and we have no more gas cause the oil companies didn't find any more. |
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Posted: 4/17/2006 1:58:47 PM EDT
[#29]
Umm, then we would be forced to switch to hydrogen or something. Gas isn't good for anything. Im sure they have plenty of money. |
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Posted: 4/17/2006 2:02:16 PM EDT
[#30]
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Posted: 4/17/2006 2:04:29 PM EDT
[#31]
the higher the better. will bring out alternatives. alternatives give us the ability to tell the middle beast and venezuela to FOAD.................
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Posted: 4/17/2006 2:06:03 PM EDT
[#32]
durrr. oil costs 70 bucks a barrel. a barrel holds how many gallons?? i'll give you a clue, it's a lot less than $70/$1.03 gallons/barrel. |
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Posted: 4/17/2006 2:06:43 PM EDT
[#33]
It has already come out that some Big-Money types have realized this. They understand that they can speculate in oil, drive up the prices, dump and make a ton of cash in the short term (<5yrs). There is no shortage of supply driving up prices, it is all speculation driving the prices. You WILL pay. These guys DO have you by the balls, at least in the near term. Google "richard rainwater oil".
As I said, the problem is not with supply, it's with speculation.
No, as long as the prices are this high, we won't ever see a shortage! Simple economics. |
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Posted: 4/17/2006 2:09:17 PM EDT
[#34]
+ 
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Posted: 4/17/2006 2:22:02 PM EDT
[#35]
dear god--no one can be this stupid. this has to be someone's joke/troll alias. in the unlikely event that you actually feel this way, remember this: you are responsible for anything that happens to you. if you are getting "fucked in the ass" by capitalism, it is simply because you are too weak to take care of yourself. you have the ability to invest in oil companies, and thus use the current pricing to your advantage. you have this ability because we live in a nation of freedom. so cowboy up and take charge of your own life. if you don't, you deserve to get fucked. |
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Posted: 4/17/2006 2:40:44 PM EDT
[#36]
Peak oil is here. |
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Posted: 4/17/2006 2:43:43 PM EDT
[#37]
this sums it up: 
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Posted: 4/17/2006 2:46:38 PM EDT
[#38]
the supply situation is currently tight, and the reason that speculators have been driving up the prices is because there are serious concerns that the supply situation may become even tighter in the future. venezuela is hostile and nationalizing it's oil industry, rebels in nigeria are starting to target oil infrastructure, a possible war is looming with iran, and there are growing concerns that some of saudi arabia's largest fields may be experiencing production declines - although no one really knows for sure but the saudis themselves, who are very very secretive with certain data on their fields. not to mention the hurricanes which hit the US domestic industry hard last fall, and meteorologists predicting that the gulf will likely be hit hard again this summer due to the unusually warm winter we've had leading to a nastier hurricane season. there are many many pressures on the supply side of the equation right now driving up prices, other than simple speculation.
as long as the socialist entitlement mentality is alive and well in this country, there's a very real possibility that we could see price controls again, like we saw in the first energy crisis, which led to shortages. which is why i said that we will see high prices OR shortages. although high prices don't necessarily prevent shortages - look what happened immediately after katrina. prices shot up, but some stations ran out of gas to sell because of the rush of emergency buying. |
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Posted: 4/17/2006 2:49:40 PM EDT
[#39]
PEAK OIL AND PEAK AMMO!
OH TEH NOES!!!!!111111111!!!!!!!111111 |
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Posted: 4/17/2006 2:51:59 PM EDT
[#40]
 Price for regular was $2.55 yesterday, $2.63 today, bet it hits $2.70 tomorrow.
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Posted: 4/17/2006 2:58:26 PM EDT
[#41]
w00t.
Business is good. I need to buy some oil wells........seriously. |
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Posted: 4/17/2006 3:04:58 PM EDT
[#42]
4.00/gallon by the 4th of July. |
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Posted: 4/17/2006 3:06:45 PM EDT
[#43]
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Posted: 4/17/2006 3:07:57 PM EDT
[#44]
my guess 5 bucks on a peak (we do iran?) before labor day.. |
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Posted: 4/17/2006 3:08:30 PM EDT
[#45]
guess that Harley that's been sitting in my Garage all winter long will come in handy this summer.
~Dg84 |
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Posted: 4/17/2006 3:11:34 PM EDT
[#46]
wanna invest.. ethanol... |
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Posted: 4/17/2006 3:46:30 PM EDT
[#47]
Just went from 2.75 this mornig to 2.85. Hopefully an alternative comes around soon. The Arabs just figured out how to beat us. They know they can't beat us Militarily, so they use our own economic system against us. Kind of ironic and sad 
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Posted: 4/17/2006 4:02:27 PM EDT
[#48]
<<<14mpg here.. Sad part is, I have a 4banger pickup that gets 28~30 depending on my right foot and I still drive my Jeep to work (17miles each way) almost every day
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Posted: 4/17/2006 4:04:02 PM EDT
[#49]
Unless you invest in these companies, then you expect them to help you profit. My truck runs on ethenol, and I do buy it, but ultimately, ethanol takes more energy to produce than we can get from it. |
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Posted: 4/17/2006 4:21:11 PM EDT
[#50]
WOW 13 mpg , 10 gallons, 10 X 13 = 130, not 169 Between the sheer ignorance is simple supply and demand economics, added with terrible math makes this the dumbest thread ever on afrcom and yes I understand how bold that statement really is. |
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