Oil price over $147 for the first time-now above $80

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cycloneye
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Re: Oil price over $139 for the first time

#661 Postby cycloneye » Tue Jun 24, 2008 2:41 pm

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Re: Oil price over $139 for the first time

#662 Postby DanKellFla » Tue Jun 24, 2008 5:43 pm

Skyhawk wrote:
Because the current process requires more energy to get the oil than the oil contains. It is like buying $100 for $110 dollars.


Simply not true. After the hydrocarbons have been driven off by heating there remains residual carbon, which is combusted to provide energy to run the process plus excess energy that can be used to generate electricity.

http://www.shaleoilinfo.org/library/cit ... 5Jul09.php

The barriers to production come from pressure exerted by enviromentalists.

BTW the term is a misnomer. Oil shale doesn't contain oil but kerogen, and it is not shale.


That is the first I have heard. But, it that is the case. Very cool.

http://i-r-squared.blogspot.com/2006/06 ... inent.html
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#663 Postby Cryomaniac » Tue Jun 24, 2008 8:33 pm

Oil has been fairly static today, which is I suppose, better than a large price spike.
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Re: Oil price over $139 for the first time

#664 Postby cycloneye » Wed Jun 25, 2008 4:37 pm

Oil falls over $2.00

:uarrow: :uarrow: :uarrow: :uarrow: :uarrow: :uarrow:

Todaty oil prices fell over $2.00 on stronger than expected inventories and a weak demand.
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Re: Oil price over $140 for the first time

#665 Postby cycloneye » Thu Jun 26, 2008 1:43 pm

New intraday record high

:uarrow: :uarrow: :uarrow: :uarrow: :uarrow: :uarrow:

Well folks,a new intraday record high in oil prices was broken today as the price of oil for the first time ever surpassed $140.
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Re: Oil price over $140 for the first time

#666 Postby cycloneye » Thu Jun 26, 2008 2:25 pm

Oil closed today at $139.64

:uarrow: :uarrow: :uarrow: :uarrow: :uarrow:

It was a record breaking day in the oil market as oil closed at $139.64 but in intraday trading prices went up to reach $140.23.
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Re: Oil price over $140 for the first time

#667 Postby lurkey » Thu Jun 26, 2008 5:13 pm

So, they going to manipulate the price to $200 a barrel come hell or high water . . .
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#668 Postby brunota2003 » Thu Jun 26, 2008 6:15 pm

What's their reasoning this time? The fact I got into trouble this morning? xP
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Re: Oil price over $140 for the first time

#669 Postby Cryomaniac » Thu Jun 26, 2008 6:26 pm

lurker_from_nc wrote:So, they going to manipulate the price to $200 a barrel come hell or high water . . .


I think the price will reach $175 fairly soon, and $200 by the end of the year. There are some people who think it could hit $500 if there is an attack on Iran.
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#670 Postby Tstormwatcher » Thu Jun 26, 2008 7:48 pm

I heard that it reached this high because someone wrote that they predicted $7 a gal real soon and that scared investors. Stupid speculators, there should be a law against this.
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Re:

#671 Postby cycloneye » Thu Jun 26, 2008 8:49 pm

brunota2003 wrote:What's their reasoning this time? The fact I got into trouble this morning? xP


The dollar down again,Libya said it would cut oil production,volume at trading day was light among the causes.
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Re: Oil price over $140 for the first time

#672 Postby cycloneye » Fri Jun 27, 2008 5:15 am

In the overnight hours,oil prices jumped over $141 to set a new record high.

http://www.cnbc.com/id/25400811
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#673 Postby Cryomaniac » Fri Jun 27, 2008 7:30 am

I think the markets falling really didn't help yesterday. Hopefully they will rally today, which would at least stop the price rising so fast.
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Re: Oil price over $141 for the first time

#674 Postby Skyhawk » Fri Jun 27, 2008 7:46 am

The dollar down again,Libya said it would cut oil production,volume at trading day was light among the causes.[/Quote]


Reasoning seems to be circular. Why is the dollar down? Because the price of oil is up. Why is the price of oil up? Because the dollar is down.

The surplus capacity was 2 million barrels/day at the beginning of the year and is projected to be 4 million barrels/day by the end of the year. Libya was threating a cut of 200,000 barrels/day. In a rational world that should have little effect on the price; however, the financial types are emotion driven with a follow the herd mentality. The predictions of ever higher prices are self fulfilling until the bubble finally bursts. Remember the housing bubble. Housing prices in certain areas just went up, up, up with no end in sight. Then pop! Now there seems to be no floor to housing prices in those areas. The oil bubble will pop, but I don't know when. If I knew for sure I could make a bundle.

The only solution for now is to drill, drill, drill. Create more surplus supply. Take the risk premium out of the price. Reduce the emotion.
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Re: Oil price over $141 for the first time

#675 Postby feederband » Fri Jun 27, 2008 8:02 am

Skyhawk wrote:
The dollar down again,Libya said it would cut oil production,volume at trading day was light among the causes.[/Quote]


Reasoning seems to be circular. Why is the dollar down? Because the price of oil is up. Why is the price of oil up? Because the dollar is down.

The surplus capacity was 2 million barrels/day at the beginning of the year and is projected to be 4 million barrels/day by the end of the year. Libya was threating a cut of 200,000 barrels/day. In a rational world that should have little effect on the price; however, the financial types are emotion driven with a follow the herd mentality. The predictions of ever higher prices are self fulfilling until the bubble finally bursts. Remember the housing bubble. Housing prices in certain areas just went up, up, up with no end in sight. Then pop! Now there seems to be no floor to housing prices in those areas. The oil bubble will pop, but I don't know when. If I knew for sure I could make a bundle.

The only solution for now is to drill, drill, drill. Create more surplus supply. Take the risk premium out of the price. Reduce the emotion.


High gas prices are good..
We don't need to drive to work or feed the kids or have electricity...
Dont need jobs...
We should all be useing the Alternative..Which one was that again?

Besides it WILL TAKE 1000 YEARS BEFORE WE GET ONE DROP OF OIL!!!
ALL THE CARABOO WILL DIE!!!
MORE OIL WONT CHANGE THE PRICE!!!
THERE IS ONLY 4 DAYS WORTH ANYWAY!!!!
THE OIL COMPANY HAS 4 TRILLION MILES TO DRILL!!! WE KNOW THERE IS NONE UNDER THOSE MILES BUT IF THEY DRILL DEEPER THAT WOULD FIND IT!!! HIRE BRUCE WILLIS'S CREW!!
BUY A GREENER CAR !!! How much does that cost? When will I see the savings?
My car is shaking out side must be withdraws from that oil addiction...

We don't need oil...

Just cheetos and Mountain Dew..Thats what I run on...


Say it with a Larry the Cable Guy voice ...Makes it funnier... :wink:
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Re: Oil price over $141 for the first time

#676 Postby gtalum » Fri Jun 27, 2008 9:32 am

Skyhawk wrote:Reasoning seems to be circular. Why is the dollar down? Because the price of oil is up. Why is the price of oil up? Because the dollar is down.


It's not circular. The dollar is down because the feds keep printing money like there's no tomorrow to finance a certain massive boondoggle at the expense of our children and grandchildren. The price of oil is up because the dollar is down.
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Re: Oil price over $141 for the first time

#677 Postby cycloneye » Fri Jun 27, 2008 10:33 am

Guess what,again oil breaks another record high,now over $142.

http://money.cnn.com/2008/06/27/markets ... tm?cnn=yes
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Re: Oil price over $142 for the first time

#678 Postby cycloneye » Fri Jun 27, 2008 2:22 pm

Oil closes at $140.21

:uarrow: :uarrow: :uarrow: :uarrow:

After oil broke a new record high as it almost got to $143 as it got to $142.99,it pulled back closing at $140.21.
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Re: Oil price over $142 for the first time

#679 Postby Matt-hurricanewatcher » Fri Jun 27, 2008 3:48 pm

Nothing short of nuclear will keep us from feeling the cluster "add in your own word". Lets go down the list, Wind power forget it, because it will take up so much land to power our cities that it will be unthinkable. Also it won't make nearly enough power anyways at the end of the day. Solar power, hell maybe if we where to cover the freaking moon with them. Maybe a few more half mile wide ones around the earth to support that. At the end of the day that is at least a few hundred years from going on. Heck we can't even get a man back to the moon in 40 years, so how do you think this is going to happen? Also it is not economic and we will loss tones of money and go poor for doing it.

Corn based fuels, also forget it. People already are rioting over this. In food prices are up 80 percent in one year. Nothing outside of nuclear power will save us now. What I'm talking about is clean and effective nuclear power. We already have around 104 nuclear plants in the United states supplying close to 20 percent of our energy needs. We need to rise that to around 300-400 plants to increase to around 60-80 percent of our needs, only then can have the power grid needed to go to hybrids. Yes we do need to get away from oil. It is a proven fact that nuclear has little to NO co2. So listen up all you global warmers you want us to go back to pre-1990 levels? Here is what you should be screaming for. Also it is effective and produces enough energy at a rate that will have little economic effect, hell in the long run it will mean lower power bills for you and a stronger American economy.

It would work to not only get us off middle east oil, but to lower co2 levels. Also it would be a even more effective energy at a large scale then "oil".


Any one that had the stones to do this would be remembered as a hero in a hundred years.
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#680 Postby Cryomaniac » Fri Jun 27, 2008 5:10 pm

People are against nuclear power because of the risks, both perceived and real.
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