elef Posted June 8, 2008 Author Report Share Posted June 8, 2008 The Group of Eight (G8) organisation met two days after a record one-day jump in crude oil to $139 a barrel. On Saturday, five key energy-consuming nations, the United States, China, Japan, India and South Korea, all called on oil producers to increase output to try to control the soaring prices. The Organisation of Petroleum Exporting Countries (Opec) has said no new decision will be made until its meeting in Vienna in 9 September. US Energy Secretary Samuel Bodman said: "It's not good for producing nations to see the US struggling economically. They depend on us to be a significant engine in world economic activity." Later, Australian Prime Minister Kevin Rudd said a "blowtorch" needed to be applied to OPEC to urge the cartel to increase production. BBC Link to comment Share on other sites More sharing options...
cavanami Posted June 8, 2008 Report Share Posted June 8, 2008 Easy fix to the $140 oil...tit for tat... They don't want to increase production...then that loaf of bread will now cost you $100 and the new Benz will be $1,000,000...you don't like it? Go pound sand where the sun don't shine Link to comment Share on other sites More sharing options...
Old Hippie Posted June 8, 2008 Report Share Posted June 8, 2008 So true, and I'd add, that we could start developing alternatives to mid east oil here in the USA. Nuclear (Yes, I've changed my opinion on this) drilling our own oil (he have tons) and basically sending them the message that they can choke on their oil. They would most likely then lower the price so it would not be economically feasible for us to do it. Happened/worked before in the 70's as I recall. Link to comment Share on other sites More sharing options...
chuckwoww Posted June 8, 2008 Report Share Posted June 8, 2008 That was before China and India got serious about modernizing their industries OH. Link to comment Share on other sites More sharing options...
cavanami Posted June 9, 2008 Report Share Posted June 9, 2008 The alternatives to using oil for fuel are out there and have been out there for some YEARS now! Of course, the oil companies don't want you to use them. They can power cars from WATER!!! There are people in the USA that have their cars powered from water, right now!!! http://s35.photobucket.com/albums/d157/cavanami/?action=view¤t=WaterPower.flv Can it get any better or simplier then using water for a fuel Link to comment Share on other sites More sharing options...
chuckwoww Posted June 9, 2008 Report Share Posted June 9, 2008 Doesn't electrolysis use energy? You still have to burn some kind of fuel to get at the HHO. Link to comment Share on other sites More sharing options...
cavanami Posted June 9, 2008 Report Share Posted June 9, 2008 You don't get something for nothing, but this looks interesting and is coming more into the spotlight. Stay tuned, I am! Link to comment Share on other sites More sharing options...
Old Hippie Posted June 9, 2008 Report Share Posted June 9, 2008 That was before China and India got serious about modernizing their industries OH. China and India are developing Nuclear and I believe coal plants, the idea being to not need as much oil, and tghus NOT be at the mercy of the mid east nut jobs...not sure why we don't do the same. Link to comment Share on other sites More sharing options...
chuckwoww Posted June 9, 2008 Report Share Posted June 9, 2008 We don't hear so many complaints about nuclear waste and sulphur emissions these days but it all comes down to cost I think OH. Nuclear power requires massive investment. Likewise the amount of coal required to produce synthetic fuels would be enormous, and not cheap. Nuclear and coal do help with power generation but even with oil at $150 barrel it's still the most cost effective way to keep the wheels moving. Link to comment Share on other sites More sharing options...
Sporty Posted June 10, 2008 Report Share Posted June 10, 2008 Serious Troube ahead for the LOS, I think... elef Said:OK, In 5-6 months. $: will be 30 £: will be 70 Euro: Will be 55 In 5-6 months. $: will be 40 £: will be 60 Euro: Will be 53 Bangkok Post Today http://www.bangkokpost.net/Business/10Jun2008_biz28.php BoT detects baht speculation Foreign deals pushing down currency's value BoT detects baht speculation Foreign deals pushing down currency's value Disagree so much, with that link, I do not know where to start... Remember the speculator, can take either side, and drain the Central Bank... That thinking will make for 1997, type currency disconnect. Link to comment Share on other sites More sharing options...
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