rumbleph1$h Posted May 21, 2005 Share Posted May 21, 2005 High Oil Prices Required, OPEC Chief Says SOUTHERN SHUNEH, Jordan, May 21, 2005 (AP Online via COMTEX) -- High oil prices are needed to help fund higher oil production and exploration by producer countries, OPEC's president said Saturday. Global demand for oil will rise to 85.5 million barrels per day in the fourth quarter of this year and OPEC is making investments to bring production in line with that demand, said Sheik Ahmed Fahd Al Ahmed Al Sabah, Kuwait's oil minister and current president of the Vienna-based cartel. "OPEC is investing to increase production and flow to markets" and ensure stable prices, Al Sabah said in a speech before the World Economic Forum. The added production is needed to boost global economic growth but "acceptable fair prices" for oil are required to repay investments made by producing countries, Al Sabah said. The minister said oil-producing countries in the Gulf must also invest in oil- and gas-related industries that diversify economies, even within the energy sector. He listed petrochemical production as a top priority. Al Sabah said the international community can help ease high prices by providing technology and expertise needed to build these new industries, as well as using diplomacy to bring stability to the region. http://news.tradingcharts.com/futures/3/1/66690813.html?mpop Link to comment Share on other sites More sharing options...
FloatingFatMan Posted May 23, 2005 Share Posted May 23, 2005 Translation: "Higher oil prices are required as my old 120 foot yahct is getting a bit grubby so I have to buy a couple more at once to replace it. Oh, and I could do with a new mansion or two as I've run out of room on my old ones..." Exploration my backside... They know exactly where it all is... They're just some of the greediest buggers on the planet is all... Link to comment Share on other sites More sharing options...
danniboi Posted May 23, 2005 Share Posted May 23, 2005 Translation:"Higher oil prices are required as my old 120 foot yahct is getting a bit grubby so I have to buy a couple more at once to replace it. Oh, and I could do with a new mansion or two as I've run out of room on my old ones..." Exploration my backside... They know exactly where it all is... They're just some of the greediest buggers on the planet is all... 585959163[/snapback] Exactly! How many billion$ does the OPEC cartel make? now they want more to explore. WTF, OPEC can suck a ****! Link to comment Share on other sites More sharing options...
PseudoRandomDragon Posted May 23, 2005 Share Posted May 23, 2005 You guys dont like the prices? Well what are you going to do about it? A car these days will last about 6 years, is your next one going to be an SUV? I sure hope not. Link to comment Share on other sites More sharing options...
DreAming in DigITal Posted May 23, 2005 Share Posted May 23, 2005 You guys dont like the prices? Well what are you going to do about it? A car these days will last about 6 years, is your next one going to be an SUV? I sure hope not. 585961654[/snapback] Absolutely nothing...just bought a Yukon Denali, so I'm gonna get a straw to drink the gas :) People need to stop bitching about a $2.00 per GALLON of gas and stop buying 12 OUNCE bottles of water for $1.50. Link to comment Share on other sites More sharing options...
rumbleph1$h Posted May 23, 2005 Author Share Posted May 23, 2005 You guys dont like the prices? Well what are you going to do about it? A car these days will last about 6 years, is your next one going to be an SUV? I sure hope not. 585961654[/snapback] I saw an interesting article a while back saying that for the average SUV owner, even if crude oil was free, or if your car got 1000 miles /gallon , the cost of driving per mile would only go down 10 or 15 percent. In other worlds, these mild fluctuations in gas prices have less of an effect than many believe and pose nothing the average driver can't 'shrug off'. All in all, gas costs to the consumer are still lower than ever.I disagree with OPEC for a few reasons. The oil industry certainly does face several hurdles when trying to start new explorations and productions. Will higher gas prices fix the astonishing lack of investment the oil industry has seen in years of late? Doubtfully. The real problem lies in the open market, small-contract marginal pricing nature of the oil industry. Oil prices fluctuate dramatically on the slightest change in supply, or even mere speculation. This results in extremely volatile prices and inconsistent revenue - driving away investors. Would increasing gas prices do anything to encourage investment? I doubt it. Link to comment Share on other sites More sharing options...
PseudoRandomDragon Posted May 23, 2005 Share Posted May 23, 2005 Absolutely nothing...just bought a Yukon Denali, so I'm gonna get a straw to drink the gas :) People need to stop bitching about a $2.00 per GALLON of gas and stop buying 12 OUNCE bottles of water for $1.50. 585961755[/snapback] Ha yeah. Watch in about ten years people will start buying oxygen. Link to comment Share on other sites More sharing options...
DreAming in DigITal Posted May 23, 2005 Share Posted May 23, 2005 Ha yeah. Watch in about ten years people will start buying oxygen. 585961782[/snapback] :laugh: :rofl: Link to comment Share on other sites More sharing options...
FloatingFatMan Posted May 24, 2005 Share Posted May 24, 2005 Absolutely nothing...just bought a Yukon Denali, so I'm gonna get a straw to drink the gas :) People need to stop bitching about a $2.00 per GALLON of gas and stop buying 12 OUNCE bottles of water for $1.50. 585961755[/snapback] TWO BUCKS A GALLON?!?!?!? You lucky ******s!! I'd NEVER moan about such a piffling amount! You want to come to the UK mate, with an average of about 85p per litre, that works out to 3.86 pounds per gallon, or 7.07 US Dollars!!!!! You lucky lucky ******s! Link to comment Share on other sites More sharing options...
Rudy Posted May 24, 2005 Share Posted May 24, 2005 You guys dont like the prices? Well what are you going to do about it? A car these days will last about 6 years, is your next one going to be an SUV? I sure hope not. 585961654[/snapback] damn only 6 years for a car?? i guess my old 93 honda civic has 2 lifes.... :pinch: Link to comment Share on other sites More sharing options...
matt74441 Posted May 24, 2005 Share Posted May 24, 2005 You guys dont like the prices? Well what are you going to do about it? A car these days will last about 6 years, is your next one going to be an SUV? I sure hope not. 585961654[/snapback] Exactly. If you're upset about gas prices, then when its time to buy your next vehicle, buy one thats fuel-efficient. My mother hauls herself around town in a goddamn Pontiac Montana, and shes the only passenger ever in it. I actually laugh at her when she whines about how much it costs to fill it up. @ Rudy, my sister's 94 Chevrolet is at the same point and it still runs great. My dads new Pontiac Sunfire is a worthless piece of **** that spends more time being serviced than he spends on the road with it. Link to comment Share on other sites More sharing options...
danniboi Posted May 29, 2005 Share Posted May 29, 2005 The point is that they control the worlds economy and control our cost of living. It sad to say that they are making billions and billions of dollars polluting the earth while we live check to check because of them. Oil is involved in everything we use and buy. The things we use and buy need power to run, be made, keep us warm or cool, shipped from overseas or from warehouse to stores, etc... Link to comment Share on other sites More sharing options...
Starcom826 Posted May 29, 2005 Share Posted May 29, 2005 TWO BUCKS A GALLON?!?!?!? You lucky ******s!! I'd NEVER moan about such a piffling amount! You want to come to the UK mate, with an average of about 85p per litre, that works out to 3.86 pounds per gallon, or 7.07 US Dollars!!!!!You lucky lucky ******s! 585964261[/snapback] Theres a difference. The U.S. is less densely populated hence its rail network isn't great. We're dependent on oil, so much so that prices reaching $3 a gallon is enough to sent is plunging back into recession. Link to comment Share on other sites More sharing options...
FloatingFatMan Posted June 1, 2005 Share Posted June 1, 2005 Theres a difference. The U.S. is less densely populated hence its rail network isn't great. We're dependent on oil, so much so that prices reaching $3 a gallon is enough to sent is plunging back into recession. 585986417[/snapback] Our rail network sucks the donkey's ass mate :D I think a big part of the problem is that engines in US cars tend to ba a lot higher CC than ours, and a lot less fuel efficient. Couple that with how far apart you guys build and that's not great. Still, pound/dollar per mile, we STILL pay a shedload more for our petrol/gas than you guys do... Link to comment Share on other sites More sharing options...
MonkeyClaw Veteran Posted June 3, 2005 Veteran Share Posted June 3, 2005 Translation:"Higher oil prices are required as my old 120 foot yahct is getting a bit grubby so I have to buy a couple more at once to replace it. Oh, and I could do with a new mansion or two as I've run out of room on my old ones..." Exploration my backside... They know exactly where it all is... They're just some of the greediest buggers on the planet is all... 585959163[/snapback] bingo, hit the nail on the head. Link to comment Share on other sites More sharing options...
El Bourricot Posted June 4, 2005 Share Posted June 4, 2005 Our rail network sucks the donkey's ass mate :D I think a big part of the problem is that engines in US cars tend to ba a lot higher CC than ours, and a lot less fuel efficient. Couple that with how far apart you guys build and that's not great. Still, pound/dollar per mile, we STILL pay a shedload more for our petrol/gas than you guys do... 585998926[/snapback] Mainly cos the gov takes a lion's share. Link to comment Share on other sites More sharing options...
yisman Posted June 5, 2005 Share Posted June 5, 2005 Translation:"Higher oil prices are required as my old 120 foot yahct is getting a bit grubby so I have to buy a couple more at once to replace it. Oh, and I could do with a new mansion or two as I've run out of room on my old ones..." Exploration my backside... They know exactly where it all is... They're just some of the greediest buggers on the planet is all... 585959163[/snapback] Exactly. All I can say is that when I buy a car, I plan to buy a hybrid, even if it costs me an extra $5,000. Better my money go to a car company than these ******s. Besides, a lot of the Middle East money ends up going to fund terrorism. Link to comment Share on other sites More sharing options...
yisman Posted June 5, 2005 Share Posted June 5, 2005 Absolutely nothing...just bought a Yukon Denali, so I'm gonna get a straw to drink the gas :) People need to stop bitching about a $2.00 per GALLON of gas and stop buying 12 OUNCE bottles of water for $1.50. 585961755[/snapback] That would be 16.9 ounces. Anyway, a gallon of water is often less than an American dollar (for the non-brand names). And water is necessary to live. Gas is not. Gas is way too overpriced. Alternative forms of energy should be used, and people should stop buying friggin' SUVs. Link to comment Share on other sites More sharing options...
zhangm Supervisor Posted June 5, 2005 Supervisor Share Posted June 5, 2005 I believe solar power may become a more viable option in the near-future. We're all used to the old silicon photovoltaic cells that cost you an arm/leg/useful internal organ, etc. They're brittle, expensive, and inefficient when not under full sun. Saw a video about alternative sources of energy including hydrogen. One of the more interesting pieces of technology was a new type of solar collector. Cheap, flexible, durable, and unlike current photovoltaic cells, this stuff can be produced by the square mile. Its also ~ 40% more efficient than what we're using now in overcast conditions, i.e. moderate to low light levels. It will at least make electric cars more environmentally friendly, as most electricity these days is generated by...you guessed it, fossil fuels. Link to comment Share on other sites More sharing options...
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