TroyinEwa/Perv Posted September 10, 2008 Report Share Posted September 10, 2008 OPEC decides to curb overall output; prices rise Tuesday September 9, 11:23 pm ET By George Jahn, Associated Press Writer OPEC oil ministers decide to trim output by more than 500,000 barrels a day; crude prices rise VIENNA, Austria (AP) -- OPEC oil ministers agreed Wednesday to trim overall output by more than 500,000 barrels a day in a compromise meant to avoid new turmoil in crude markets while seeking to bolster falling prices. [color:blue]I guess 104USD+ just isn't enough for these greedy bastards. Remember the good old days when oil was only 70USD a barrel??[/color] Link Link to comment Share on other sites More sharing options...
chuckwoww Posted September 10, 2008 Report Share Posted September 10, 2008 The same speculators who ran it up have gone short and driven it down. The dollar has strengthened. Demand has dropped. The pendulum swings. Link to comment Share on other sites More sharing options...
Bangkoktraveler Posted September 10, 2008 Report Share Posted September 10, 2008 The same speculators who ran it up have gone short and driven it down. The pendulum swings. I don't think it is like a pendulum, it is more like a climbing inch worm. Appears to be going down, but if you watch it climbs higher on each phase. The game is to control the price of oil, and if they can make more money but pumping less, that is what they are going to do. There is no oil shortage, just players that are manipulating the market. Link to comment Share on other sites More sharing options...
chuckwoww Posted September 10, 2008 Report Share Posted September 10, 2008 Demand has dropped too. But the price is driven by the futures market. Link to comment Share on other sites More sharing options...
Barry Posted September 10, 2008 Report Share Posted September 10, 2008 There's a new generation of electric cars set to hit the market soon. Can't come soon enough. Link to comment Share on other sites More sharing options...
Old Hippie Posted September 10, 2008 Report Share Posted September 10, 2008 Hmmm...where is the energy used to charge the batteries going to come from? Link to comment Share on other sites More sharing options...
Bangkoktraveler Posted September 10, 2008 Report Share Posted September 10, 2008 Hmmm...where is the energy used to charge the batteries going to come from? Electrical transmission has a lost of about 50% if I remember right. If you want 100 kw, you will need at least 200 kw produced. The energy thing is a joke. Sarah is being herald the oil queen but if you look at the production records from Alaska, Alaska has reduced production by 40% in the last decade. Link to comment Share on other sites More sharing options...
Old Hippie Posted September 10, 2008 Report Share Posted September 10, 2008 Never mind production of oil, pull all you want up and out, we have limited refinery space, and we won't build more. Hence, we need alternatives such as nuclear. Link to comment Share on other sites More sharing options...
shygye Posted September 10, 2008 Report Share Posted September 10, 2008 Hmmm...where is the energy used to charge the batteries going to come from? Electrical transmission has a lost of about 50% if I remember right. If you want 100 kw' date=' you will need at least 200 kw produced. ...[/quote'] Transmission and distribution losses in the USA were estimated at 7.2% in 1995 [2], and in the UK at 7.4% in 1998. [3] Link to comment Share on other sites More sharing options...
khun_khon_neua Posted September 11, 2008 Report Share Posted September 11, 2008 Never mind production of oil, pull all you want up and out, we have limited refinery space, and we won't build more. Hence, we need alternatives such as nuclear. A bit outdated I'm afraid. Billions are being spent right now on expanding US refineries U.S. refinery expansion plans Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.