Another Record ($143.67)

PeakingAroundtheCorner · Posted: Wed May 21, 2008 10:11 am Post subject: Re: Another Record ($131.40)

Now, I'm starting to get really scared.

This is amazing to watch.

eXpat · Intermediate Crude Joined: Jun 08, 2006 Posts: 959

Eli · Posted: Wed May 21, 2008 10:13 am Post subject: Re: Another Record ($131.40)

no Joe they turned it all into ethanol, the bastards.

emersonbiggins · Posted: Wed May 21, 2008 10:19 am Post subject: Re: Another Record ($132.08)

It won't be long until we have to assign a mod solely to updating this thread's title. Shocked

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sdcoyote · Tar Sands Joined: May 24, 2005 Posts: 56

Hogan · Light Sweet Crude Joined: Oct 25, 2004 Posts: 1298

morph · Heavy Crude Joined: Jul 28, 2006 Posts: 103

Bloody hell, It seems we are breaking records everyday now.

BTW anyone know the lowest oil has been this year/ in the last 12 months?

Peleg · Heavy Crude Joined: May 20, 2008 Posts: 391

You guys have to go watch Orrin Hatch on bloomberg video. I couldn't get the link.

Here is his argument about shale:
a) we could produce oil shale at $30-$40 per barrel
b) we have 800 bn to 2 tr barrels of oil shale
c) we are not producing it because
i) the environmentalists are in control of the democratic party
ii) there has always been a rogue group of liberal Republicans who block efforts to bring shale to market.

His conclusion, we could ensure our enegry future if we just stopped playing games and got on to producing oil shale.

I think we need to make sure Mr. Hatch dines on his own words. That is a dangerous set of hypotheses for him to spew especially now.

How can we use legal means to make sure that Mr. Hatch apologizes for his misinformation? Any ideas?

charliehelyes · Heavy Crude Joined: Mar 27, 2005 Posts: 105

hmm I reccon something is going on why the sudden acceleration in price rises, maybe oil supply has hit a cliff

Eli · Posted: Wed May 21, 2008 11:57 am Post subject: Re: Another Record ($132.08)

Charlie that could easily be the case.

Hirsch said the first thing you would see when peak hit was rising prices and no increase in supply.

Hogan · Light Sweet Crude Joined: Oct 25, 2004 Posts: 1298

Perhaps OPEC had been draining their oil tank farms to make up for the supply shortfall, and they can't do it any more. Hmm...

lowem · Posted: Wed May 21, 2008 12:08 pm Post subject: Re: Another Record ($132.08)

PeakingAroundtheCorner · Posted: Wed May 21, 2008 12:09 pm Post subject: Re: Another Record ($132.08)

New record $132.62

lowem · Posted: Wed May 21, 2008 12:09 pm Post subject: Re: Another Record ($132.08)

We're certainly having fun here.
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Hogan · Light Sweet Crude Joined: Oct 25, 2004 Posts: 1298

Anyone who is wondering where to watch real-time oil prices, look here.