$134 / barrel oil

Time for a change in how we see the “good life”. From a newsletter I get daily:

*They called us “pessimists.” Said we were “too paranoid” and were “profiteers of doom and gloom.” *
*And just last month, the talking heads on Fox referred to us as “peak freaks.” *
*That’s how the media has described us ever since we made a shocking prediction back on March 3, 2005. *
*If you missed it, here’s what we said that day… *

*Even the stodgy Steve Forbes couldn’t resist taking a swipe. He called us out, and made his own “shocking” prediction… *
*“In 12 months, you’re going to see oil down to $35 to $40 a barrel. It’s a huge bubble, I don’t know what’s going to pop it but eventually it will pop - you cannot go against supply and demand, you cannot go against the fundamentals forever.” **We couldn’t have said it better ourselves. You can’t go against supply and demand forever. *
*That was over 3 years ago. *
*And today? *
*You know the story all too well. Oil is at record levels, hitting nearly $130 a barrel on May 20. And everybody from President Bush to OPEC to the CEOs of Big Oil are now saying exactly what we were saying in 2005: The world’s supply of easy oil is quickly running out… *

*They All Agree With Us Now. *

  • *“An abrupt escalation of oil prices after 2015 as a result of a global supply crisis cannot be ruled out. The consequences of unfettered growth in world energy demand are alarming.” - International Energy Agency’s World Energy Outlook
    • *“Many oil company CEOs privately agree that peak oil is imminent but don’t say so publicly.” -James Schlesinger, former head of the CIA, Secretary of Defense and Secretary of Energy, September 2007
    • *“We may be at a point of peak oil production.” -Former President Bill Clinton, London Business School
    • *“The era of cheap energy is over - for good.” - UK Energy minister Malcolm Wicks
    • "We are experiencing a step-change in the growth rate of energy demand due to population growth and economic development… easy-to-access oil and gas will no longer keep up with demand." -Jeroen van der Veer, CEO Royal Dutch Shell, Jan. 28, 2008
      ]"I believe oil prices are going up because the demand for oil outstrips the supply for oil. Oil is going up because we use too much oil, and the capacity to replace reserves is dwindling. That’s why the price of oil is going up." -President George Bush, November 7, 2007 *

There is no oil shortage.

There is an unwillingness of US politicians and their handlers in the envirowaco movement to **DRILL for the OIL WE KNOW is THERE

Peak oil continues to be a myth

Things always get bad just before an election , so the other party can pretend to fix it.:twisted:

You get what you vote for…I did not vote for Pres. Bush.
He comes from a oil family…I put my chastity belt on as soon as he
was sworn in. For all you others stop crying, you got what you had


Is there enough oil in ANWAR to make an appreciable impact on our gas prices? Or would it just save us around 10 cents a gallon while prices continue to skyrocket cause of “investor fears” over instability in Nigeria or reduced OPEC production?

Here we go with it being Bushs fault again! :roll: :roll: :roll: Don’t blame me either, I am doing my part. I traded in my old SUV that got 16.9 MPG for a new one that get 17.3 MPG.:smiley: Man, I love my SUV;-)

I agree with David.

Nick, you nailed a big part of it “investor fears” and you can add China, India, Washington DC as in the do nothing congress, tree huggers, people like me who drive SUV’s, lack of drilling in our own hood, lack of new refineries, and so on, and so forth.

Some fast facts off the top of my head. There are many more.

Clinton vetoed a bill that would have permitted drilling in ANWAR 10 years ago.

Bush 1 signed a bill that stopped further drilling in coastal waters.

Clinton locked up some of the best low sulfur coal in the country.

There hasn’t been a single new Nuclear power plant started in the last 30 years.

The point is our leaders are doing everything possible to decrease our ability to produce adequate supplies of energy for a growing economy.

Yes we get what we vote for. :frowning:

Facts are that China is using more and more energy all the time, and this drives up prices for oil.
How do you think it gets here when you buy cheap stuff.
Good thing is that manufacturing in the USA may benifit.
Just a thought.

And just how are you going to power new manufacturing in the US without energy?:roll:

Mike , what do you think Nuke plants are going to do for us?

Here in Illinois we have enjoyed more Nuke plants than anywhere else and have the highest rates to prove it.

Transporting all those goods cost a lot more than manufacturing them.

Michael and Robert, haven’t we had this conversation before? (8\) My guess is this will get pretty political before the threads all over.</IMG>

They currently provide 20% of our energy need.

We have plentful supply of the required fuel

It is the safest, cleanest, cheapest most carbon friendly energy there is.

Now quit being so optimistic:)

Hey …how big is your back yard, I got some glowing garbage to get rid of.

Not only China but India and South America.

I agree with the no oil shortage. I get the feeling some countries don’t like us.

Where gasoline is cheapest

1.Venezuela 12 cents
2.Iran 40 cents
3.Saudi Arabia 45 cents
4.Libya 50 cents
5.Swaziland 54 cents
6.Qatar 73 cents
7.Bahrain 81 cents
8.Egypt 89 cents
9.Kuwait 90 cents
10.Seychelles 98 cents
**44.****United States **$3.45

155 countries surveyed between March 17 and April 1, 2008. Prices not adjusted for cost of living or exchange rates.

Truth is what it is Bob:D

BTW-you guys in IL electric rates where frozen by government reagulation for how long?

Looks like that chicken has come home to roost. There is no free lunch.:roll: