Comments for Oil down on lower-than-expected US gas supplies »
Posted By STONERS 1 year, 3 months ago in Business & FinanceOil prices fell for a fifth straight session Thursday after a lower-than-expected drop in U.S. gasoline supplies fed beliefs that a cooling economy is curbing fuel demand in the world's thirstiest consumer.
Read Full Story at news.yahoo.com »
RSS Join the Discussion
+ Add CommentComments So Far: 22
-
100%
STONERS1 year, 3 months ago
This comment is below the standard viewing threshold View It »
"At the pump, a gallon of regular slid less than a penny overnight to a new national average of $3.678, according to auto club AAA, the Oil Price Information Service and Wright Express. Prices remain well above the year-ago average of about $2.792 a gallon but have fallen more than 10 percent from the July 17 record average of $4.114 a gallon."
Reply -
-
50%
Gransater1 year, 3 months ago
This comment is below the standard viewing threshold View It »
Is there someone out there that can tell me whatever happened to the incredible increase in fuel usage in India and China, that supposedly were the cause of the upwards mobility in the cost of fuel to space normally occupied by cumulus clods?
Reply-
-
-
Neutral
GWHayduke1 year, 3 months ago
This comment is below the standard viewing threshold View It »
Productivity and overall growth in China has all but stalled out in the past quarter, and a significant portion of their consumption of oil has been reduced.
Reply
http://findarticles.com/p/articles/mi_m0WDP/is_200...
The most dramatic change in comsumer habits has come from the US where demand for gasoline has been impacted by the greatest decrease in 26 years....a total of (ironically) 800,000 bbls a day!
http://news.yahoo.com/s/nm/20080812/us_nm/usa_oil_...
EXACTLY the same estimate of production that would be offset by drilling in ANWR - 800,000 bbls per day!
Problem solved, huh?
Probably not, because the likes of tiredofwhiners doesnt like riding a bicycle and is ENTITLED to cheap gas NOW!
-
-
67%
tiredofwhiners1 year, 3 months ago
This comment is below the standard viewing threshold View It »
Drill now, drill American. Replace every barrel of foreign oil with American oil. Stop the unbelievable transfer of $$ to foreign countries. Develop offshore oil, ANWR, shale oil, clean coal, gas from coal, solar, wind, geothermal, nuclear and hydroelectric. Then watch oil prices go way down. Don't wait another 10 years, do it now!
Reply-
100%
miklkit1 year, 3 months ago
This comment is below the standard viewing threshold View It »
If you want more American oil used in this country, then stop exporting it. Big oil is currently exporting more oil, right now today, than they expect to get from more drilling in the future.
Reply
This drill, drill, drill stuff is a fools game. -
Neutral
Gransater1 year, 3 months ago
This comment is below the standard viewing threshold View It »
I agree with just about all you are saying.
Reply
One of the problems with that idea though, is that we don't have neighter enough qualified personnel, or equipment to make a serious dent in how fast we can produce additional oil. Refinery capacity is also a major obstacle.
As to the prices coming down, because more drilling, it will not have that great of an impact. Crude supposedly is sold on the open market, to anyone able to pay.
Worldwide. If we start with rationing for domestic purposes only, that can possibly have consequenses on things we buy outside of the country that we are unable to deal with, on a short term basis.
Our bed is made, and untill we change the sheets, so to speak, we will have challenges to deal with. As you say, drilling alone isn't the answer.-
Neutral
Nowalive1 year, 3 months ago
This comment is below the standard viewing threshold View It »
Actually Gran we do. All that needs to be done is recall all of our drillers and refiners from around the world that are building and running the wells and refineries of foreign countries. Bring back all the men and women that are training the rest of the world and watch how fast we can get it done.
Reply
Additionally if we leave the oil wells and refineries to the Iraqis, Kuwaitis, Saudis, et al within a few years they would be in such a state of disrepair that our oil workers would be the highest paid maintenance men in the world!-
Neutral
Gransater1 year, 3 months ago
This comment is below the standard viewing threshold View It »
Late reply.
Reply
Yes, we have a lot of people scatered out there. Once they come home, what equipment are they going to use? Currently we are building and finishing up about 3-5 rigs per month, land, and maybe 1 a month for offshore. Most rigs built nowdays, are actually being built in other countries, causing some conflicts with our domestic equipment. Metric don't mix well with our stuff.
As to the fast breakdown of foreign oil related equipment, I' sure a lot of current oil field people wouldn't mind, even if they for the most part allready ARE the highest paid worldwide. Also, don't discount the high number of europeans that have expertise similar to ours.
I still maintain that it would take us quite a while to get online in a major significant way to find and extract additional resourses.-
Neutral
Nowalive1 year, 3 months ago
This comment is below the standard viewing threshold View It »
Gran
Reply
There are several new areas already being developed here in Pennsylvania, that within 2 years could have oil to the market.
In the Texas oil fields 25 new wells were sunk over the past year and that oil in already in the pipeline.
The supply is not the problem. As you stated, it is the refining capacity. We need Congress to allow idle refineries to be brought back online. These refineries (20 +) could be restarted and producing inside 5 years.
When given the challenge (like the space program) Americans can achieve wondrous results.
-
-
-
-
-
67%
tiredofwhiners1 year, 3 months ago
This comment is below the standard viewing threshold View It »
For me it's not the economy, it's the high price of gas that causes me to drive less and combine trips. I think that applies to most who are smart about their budget. I drove to California (300 miles) and kept it at 65-70 mph and coasted down some of the long grades. I saved about 3-4 gallons on the 600 mile round trip. I also used the A/C only about half the time in the 100 F. degree heat. I won't go back to my old habits any time soon even if gas goes down significantly more.
Reply-
100%
Nowalive1 year, 3 months ago
This comment is below the standard viewing threshold View It »
tow,
Reply
As a mechanic I can tell you that 60 is the optimum highway speed for fuel efficiency. Using the a/c does trim about 12% off your mileage as well. Additionally many people carry unnecessary items in their cars which adds weight. -
-
-
33%
hbbuyze1 year, 3 months ago
This comment is below the standard viewing threshold View It »
Just think,
Reply
With all of the jobs being sent off shore per Mr. Bush, Mr Cheney and Mr McCain republican senate. Why do we need gas? If you don't have money to go the store to purchase food. Just think of all the good the republican goverment is doing for you.
They say we are all over weight. So they are doing us a favor. We don't need money to live on, so they are putting us a third world diet. Look at all the weight we are going to lose by riding our bikes.
Gee what a great goverment. Yes I want 8 more year of it. -
loading ...
Add a Comment
Sign In With Your Propeller Account
Please keep your comments relevant to this story.
To create a live link, simply type the URL (including http://) or email address and we will make it a live link for you. You can put up to 3 URLs in your comments. Line breaks and paragraphs are automatically converted — no need to use <p> or <br /> tags.