Oil closer to $100 on Nigeria violence »
Posted By STONERS 1 year, 6 months ago in Business & FinanceOil prices jumped sharply Wednesday, once again approaching $100 a barrel on supply concerns sparked by renewed violence in Nigeria and a warning that OPEC may not be able to meet its share of global oil demand by 2024.
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STONERS1 year, 6 months ago
"Bands of armed men invaded Port Harcourt, the center of Nigeria's oil industry Tuesday, attacking two police stations and raiding the lobby of a major hotel. Four policemen, three civilians and six attackers were killed. The Niger Delta Vigilante Movement claimed responsibility for the attack."
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tclaw991 year, 6 months ago
So whats the big surprise? They will continue to destroy this economy.
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tclaw991 year, 6 months ago
World is in total self destruct mode and there is no stopping it.
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saneman1 year, 6 months ago
Cheer up people. Its only going to get a lot worse. If possible, scrap the gas guzzling vehicles you have and buy a hybrid or hopefully wait until the hydrogen fuel cell vehicles hit the market later this year. We all need to change our way of thinking. Bigger is not best in regards to SUV's or pickup trucks. Lucky for me, I live in the largest E-85 fuel state. There are over 500 E-85 stations, all of which happened quite rapidly. Many people have said that the change over to Hydrogen fuel cells would take time and money. Well, that's not what happened with E-85 fuel. Hopefully, the independently owned stations will changeover rapidly to hydrogen fuel cells beginning this year, becase Japan is introducing its hydrogen fuel cell cars on the market this year. We are being held hostage by Big Oil and we need to make efforts to leave them behind.
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IcCaRus1 year, 6 months ago
im all for alternative fuels, but before you start singing the praises of corn based ethanol, understand this...
yes, you may use less imported oil, which is definately a good thing.... and you may THINK thats saving you money, but those savings will be eaten up by the rising costs of many, many other products...
because of ethanol production there are record demands for corn, as we all know supply/demand drives price... the price of corn is climbing... obviously an ear of corn will cost more, but so will beef, because beefcows are fed corn... cereal may hit $7 a box. look for vegetable oil to go up too.. get the picture? the $$ you save on gas will just be spent on other things...
the solution for ethanol is hemp. all the scientists say that corn is a very poor fuel source, and that hemp is ideal (something to do with cellulose content) its easier to grow, and uses far less water. AND its doesnt drive up the prices of all those corn based products.
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Justice4All1 year, 6 months ago
After the warnings of the 1970's we should have weened ourselves off oil by 1990. But it didn't happen. And it won't happen this time either. We will always choose the cheapest route. When oil hit's 150-175 dollars per barrel we will start the oil from coal projects.
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vor1 year, 6 months ago
That's what speculation is all about but who on Earth can see that far into the future? Apparently these oil speculators can!
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IcCaRus1 year, 6 months ago
no oil imports in america after 2009? hey, nothing sounds better than that to me, but 2009? thats YEARS ahead of when we can REALISTICALLY free ourselves of imported oil. but let me guess, as long as YOUR state stops using imported oil by then (which it most definately will NOT) the hell with the rest of us right?
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Harbeas1 year, 6 months ago
Someone is getting mighty rich with this and isn't the average Joe who is paying up the nose for oil. Where is this infinite supply of oil that the misguided people are saying. It doesn't exist in an infinite supply! We must elect people who will put the highest priority on developing alternate energy sources and do it now before this situation becomes untenable(and it will).
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Cityslicker1 year, 6 months ago
Enron-ish Trading , keep supply low and prices up .
Alternative Fuel is more of a SCAM than the Oil Prices , all cost more to produce or are deadly or the source that is used to produce it , corn for one , will be bought from foreign sources a well , no win for the general public , only fools (or those whom stand to profit from them) push AF (alternative fuels) .
Every time the Stock Market falls Oil Commodities rise , hmmmm , Consumers didn't buy this Season , Housing is down , but look what is up , making it both ways Heating Oil and Gasoline .
S.O.S.,S.O.S.a.D.
We have paid for Katrina , Christ , lower the prices .
The Saints are playing football , so everything must be fine , don't tell me they would put a Football team ahead of rebuilding !
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Justice4All1 year, 6 months ago
Oil is not a renewable resource. It will never follow the price of a renewable resource like grain.
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IcCaRus1 year, 6 months ago
Mialguy, ive been saying for years that the four leading wheat producers should form WPEC. then we tell the arabs, no more money.. we'll trade you a bushel of wheat for a barrel of oil. oh, you dont like that deal? wellll, tell ya what, if we HAVE to, we can ride horses again and heat our homes with fireplaces, but never in a million years will you be able to eat sand or drink your oil...... call us when youre hungry!
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Harbeas1 year, 6 months ago
cityslicker
you are right on the alternative fuels. However, my cry is for alternative energy sources.
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jmopinion1 year, 6 months ago
As always, the US will learn their lesson the hard way when its way too late.
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NoWayMan1 year, 6 months ago
that shouldn't be too hard since it means she's promising to bring gas prices down to what they were in April 2004.
avg. price in the US on 12/31/07 was $3.28/gal
40% x $3.28 = $1.31
$3.28 - $1.31 = $1.97
the avg. price in the US on 04/12/04 was $1.97/gal
so, its obviously do-able - just like the price of your house, thats falling back to its april 2004 price as well.
but I still ain't voting for her.
note: these are prices for premium gas.
note: when bush took office the avg. price in the US was $1.66/gal, which means gas prices have gone up approx. 100% under bush.
http://www.eia.doe.gov/emeu/international/gas1....
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Justice4All1 year, 6 months ago
When did she say that?? She must be as crazy as Bush if she thinks she can control the price of oil.
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DropkickaLib1 year, 6 months ago
Is she getting lypo done and rendering the fat into a usable fuel?
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Sludge-Guzzler1 year, 6 months ago
Hitlery said if she's elected, the price will drop by 40%? Sure....I believe her.....but then, I also believe the moon is made of green cheese....
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panzerv1 year, 6 months ago
Welcome to the United States of Saudi Arabia, the world's newest third world country.
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IcCaRus1 year, 6 months ago
getreal-
"Saneman, You should run for President. You would probably be to good at it."
now heres a quote from saneman-
"I have never flip flopped on that issue. I only care about my family. From the very start I have always stated that I don't have friends and sure as hell don't want any"
getreal-
if you think sane would make a good President, please do the rest of us a favor and STAY HOME on election day.
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Xaos1 year, 6 months ago
Well Oil has broke a $100.00 a barrel, just a few days into the new year, the conspiracy theory crowd predicted this in the summer of 2007. They also are predicting that sometime in 2008 oil will hit $200 a barrel. I pray they are wrong on that one.
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IcCaRus1 year, 6 months ago
everything else aside, continued dependence on imported oil is strategic suicide for our country.
ENERGY INDEPENDENCE NOW!
whatever the cost!
corn, hemp, solar, wind... WHATEVER IT TAKES!
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