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Eli
Fusion
Joined: Jun 18, 2005
Posts: 3970
Location: In a van down by the river
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 Posted: Tue May 20, 2008 2:44 pm Post subject: Re: There! This'll fix everything... |
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Mods feel free to merge my thread with this thread.
This is too damn funny. I love it, we are all so very screwed. |
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Twilight
Expert
Joined: Mar 02, 2007
Posts: 3076
Location: UK
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| Posted: Tue May 20, 2008 2:57 pm Post subject: Re: There! This'll fix everything... |
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Now we know the ratio of lawmakers who understand the basic principles of energy policy to those who do not. 1:4.
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Volatility. When life isn't exciting enough. |
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Plantagenet
Expert
Joined: Apr 09, 2007
Posts: 6289
Location: Alaska (its much bigger than Texas).
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| Posted: Tue May 20, 2008 3:11 pm Post subject: Re: Congress votes to sue OPEC over high oil prices |
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| IgnoranceIsBliss wrote: | I'm also interested in the ramifications of this action. Anyone in the know?
First we stop filling the SPR and now this. (oh, and Cllinton's windfall profits tax idea) We really do have our heads up you know where.
I listened to a podcast today about nuclear energy. It takes 7+ years to bring a new facility on line and costs BILLIONS. So even if we did decide to go in this direction (like a lot of other nations did years ago), we are still looking at years of high prices and groveling at OPEC's feet. Not to mention the fact that (a) we have ZERO money to build these things and (b) the price of uranium is about to explode due to worldwide demand. (and againk it's a limited resource) |
Yup. You are right.
But look on the bright side.
The MSM thinks its great that Congress is gonna sue OPEC and fix the energy crisis. Now Nancy Pelosi will be able to keep her huge government jet that she needed to fly nonstop to California.
All will be OK once we sue OPEC. And if those uranium prices get too high.....well, Congress can sue them too! |
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mididoctors
Intermediate Crude
Joined: Aug 30, 2004
Posts: 558
Location: London
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| Posted: Tue May 20, 2008 3:15 pm Post subject: Re: US House is going to sue OPEC. |
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I thought they thought there was no supply issue and it was the effect of speculation?
hence all the need for anti speculation regulation?
what is it?
Boris
London |
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Cog
Heavy Crude
Joined: May 17, 2008
Posts: 150
Location: Metro-East Illinois
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| Posted: Tue May 20, 2008 3:22 pm Post subject: Re: US House is going to sue OPEC. |
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When I first read this story I thought it had to be a parody. Congress wants to sue OPEC to make them produce more oil. I do not have enough disparaging words in my vocabulary to describe how stupid this legislation is. We would deserve to have OPEC cut off all oil supplies to the USA just for us being complete retards.  |
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JBinKC
Heavy Crude
Joined: Aug 14, 2004
Posts: 251
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| Posted: Tue May 20, 2008 3:28 pm Post subject: Re: US House is going to sue OPEC. |
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| Its pathetic that people elect a bunch of buffoons to run this country. We are lucky to get a supply at all. If I were an OPEC country I would dump every dollar that existed and demand payment in gold. |
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UncoveringTruths
Intermediate Crude
Joined: Nov 04, 2004
Posts: 900
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| Posted: Tue May 20, 2008 3:30 pm Post subject: Re: US House is going to sue OPEC. |
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| mididoctors wrote: | I thought they thought there was no supply issue and it was the effect of speculation?
hence all the need for anti speculation regulation?
what is it?
Boris
London |
Their using the shotgun affect. Put enough lead in the air(laws) and something will hit the target(oil). However it is messy and can have unintended consequences. For example at close ranges they will tear up the meat(oil) with buckshot. Then somebody will have to do without.
Best analogy I could come up with.
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It's a cold cold world when a man has to pawn his shoes. |
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Eli
Fusion
Joined: Jun 18, 2005
Posts: 3970
Location: In a van down by the river
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| Posted: Tue May 20, 2008 3:31 pm Post subject: Re: US House is going to sue OPEC. |
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Cog, life is a piece of crap when you look at it.
If life has got you down just give a whistle and
Always look on the bright side of life. |
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yesplease
Fission
Joined: Oct 03, 2006
Posts: 2498
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| Posted: Tue May 20, 2008 3:38 pm Post subject: Re: There! This'll fix everything... |
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| jlw61 wrote: | | I feel so much better now! Not only has Bush made a mess out of the Middle East, but now congress is doing everything it can to completely screw up the US. |
I think screwing up the US is a bit strong and limited. There are significant financial incentives for said behavior.
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| Professor Membrane wrote: | | Not now son! I'm making...TOAST! |
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IanC
Heavy Crude
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Joined: Jun 05, 2005
Posts: 363
Location: Portland Oregon, USA
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| Posted: Tue May 20, 2008 3:43 pm Post subject: Re: US House is going to sue OPEC. |
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Oh, come on, guys! Everyone is always complaining that the government needs to "Do Something" about Peak Oil. Well, here it is. This and the Iraq war. Don't say their not busy trying to solve the problem - they're just trying to solve it like a retarded lemur.
-Ian
While preparing to bug out with the other lemurs... |
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bkwillia
Tar Sands
Joined: Aug 20, 2007
Posts: 70
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| Posted: Tue May 20, 2008 3:44 pm Post subject: Re: US House is going to sue OPEC. |
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We lost some oil from Nigeria and Iraq that was high quality. OPEC has plently of low quality oil, but it cannot be substituted without refitting a refinery. WTI is high quality, trading near 130 today, and there is a true shortage. There is no shortage of OPEC heavy/sour crude, but its trading at $125/bbl and is more expensive to refine. Iran is holding back sour crude production and/or stock piling in tankers. Check out tanker rates these days... there is supposed to be a glut of tankers on the market. Who else is using them as floating storage?
Congress is fully justified in sueing OPEC. Its a much better option than bombing Iran. By the time the trial gets started, the glut of crude sitting in tankers with escalating day rates will have to beunloaded on the spot market. The heavier the losses Iran takes on its sour crude, the more evident it will be that congress was right. |
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Twilight
Expert
Joined: Mar 02, 2007
Posts: 3076
Location: UK
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| Posted: Tue May 20, 2008 3:53 pm Post subject: Re: US House is going to sue OPEC. |
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| bkwillia wrote: | Iran is holding back sour crude production and/or stock piling in tankers. Check out tanker rates these days... there is supposed to be a glut of tankers on the market. Who else is using them as floating storage?
Congress is fully justified in sueing OPEC. Its a much better option than bombing Iran. By the time the trial gets started, the glut of crude sitting in tankers with escalating day rates will have to beunloaded on the spot market. The heavier the losses Iran takes on its sour crude, the more evident it will be that congress was right. |
Is this a parody, or did someone actually swallow that propaganda?
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Volatility. When life isn't exciting enough. |
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RSB
Tar Sands
Joined: May 13, 2008
Posts: 28
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| Posted: Tue May 20, 2008 3:56 pm Post subject: Re: US House is going to sue OPEC. |
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| Time to start trading oil in Euros? |
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shortonoil
Fission
Joined: Dec 02, 2004
Posts: 2733
Location: VA USA
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| Posted: Tue May 20, 2008 4:08 pm Post subject: Re: US House is going to sue OPEC. |
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Eli said:
| Quote: | | Oh my this is so frigging sad and pathetic it is hysterical. |
I read what you posted over at TF. The reponses of that bunch of nuckle-heads is probably the response we’ll get from Mr. Average American J6P. We are soooooooooooo screwed it is unimaginable. At this point Pandora is out of her box, and raging. No matter what happens from here on out, the US’s privileged access to ME oil is over. This is the ultimate in embarrassment to our once ME allies, AND THEY ARE NOT GOING TO FORGET IT!!!
Don’t these fools realize that our access to oil depends on the status of the SA ruling families. Don’t they realize that their position of power in their county is the only thing that keeps our country alive. How can hubris grow this great?
Eli said at TF:
| Quote: | This could precipitate Saudi Arabia coming clean and announcing they have reached Peak oil production. They good report the evidence we all ready have that their drilling rates are going through the roof and that the water cut is increasing.
What would we do if they pointed to geological limitations as being the reason they cannot pump more oil? |
The idiots at TF couldn’t even consider the possibility that “geological limitations” are a factor.
If you have ever wondered what kind of complete unmitigated idiots we have in Congress, here is the answer! Absolutely unbelievable!
| Quote: | | The measure passed in a 324-84 vote, a big enough margin to override a presidential veto. |
This could very well be the last horrific decision of the once late great USA! Anything else will only be a continuance of the same mind boggling stupidity. |
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Twilight
Expert
Joined: Mar 02, 2007
Posts: 3076
Location: UK
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| Posted: Tue May 20, 2008 4:12 pm Post subject: Re: Congress votes to sue OPEC over high oil prices |
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Relax, someone will have already been on the phone to the Saudis "clarifying" this result.
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Volatility. When life isn't exciting enough. |
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