Oil Prices Hit Another Record High

AP:

Oil prices briefly hit a record high and gasoline futures jumped Thursday as refiners reported production problems after Hurricane Humberto hit Texas.

Oil first traded over $80 a barrel on Wednesday after the Energy Department reported declines in crude and gasoline inventories and refinery activity last week.

Read the whole story: AP

Comments

[bickerson4]

07:44 PM on 09/13/2007

liberals: oil is going up and it's all some rightwing conspiracy.

liberals: let's not even think about drilling for our own oil.

liberals: let's raise taxes. that always fixes everything.

conservative: oh jeez!!

[wars4profit]

05:45 PM on 09/13/2007

WE didn't invade Iraq for oil; THEY invaded Iraq for oil


Some erroneously say, "We invaded Iraq because we wanted their oil." A sentence like this reveals a great deal of confusion regarding who owns the oil. It was "they" (transnational oil corporations, the likes of Halliburton) who used our taxes to invade Iraq because "they" wanted Iraqi oil.

It was the supra-national (ABOVE the nation-state) corporations that seized Iraqi oil.

Proof of this is that those of us who are forced to pay for the occupation of Iraq are also paying more at the pump than ever before.

Meanwhile oil profits for the transnational oil corporations go through the roof.
.

[bickerson4]

07:47 PM on 09/13/2007

if we wanted someones oil, we'd have just gone down and taken that fat little commie pricks maracaibo reserves and the mexicans gulf production.

but don't let obvious fact keep you from your lunacy. your so called friends would hate you if you wised up.

[MI6troll]

03:41 PM on 09/14/2007

Halliburton is not a drilling company, paranoid spammer.

Naff off

[LadyAva]

03:56 PM on 09/13/2007

Perhaps when oil prices hit $6 a gallon in this country, Americans will finally stop this corrupt, greed-driven government in its tracks...

[Gumby69]

03:21 PM on 09/13/2007

How ya like SUVs' now. Ha Ha drink it up you losers!

[fitz]

04:01 PM on 09/13/2007

I'd gladly pay $10.00 a gallon if it keeps more of you assmonkeys off the road.

Enjoy your bus commute to Wendys.

[drkazmd65]

03:01 PM on 09/13/2007

OK,... how the hell can these guys blame a hurricane that hit yesterday for 'production problems' today?

I mean OK,... there could be some potential problems,... but take a day or so to assess them before you report them and drive the prices up.

Oh sorry,... I forgot,... the oil companies make more profit when the allege that they are experiencing 'production problems'.

So of course they have an incentive to drive the speculation up - it covers up their drive to make even more obscene profits in the short term.

[Honeybun]

02:52 PM on 09/13/2007

As oil prices rise the price of goods we buy will rise as well. Most of what we purchase, including food, in the US is moved by truck. Each of those trucks has a separate engine requiring fuel.

It is my opinion that the US has been very short-sighted in many ways. Energy is one. Railroads have been all but abandoned. Each truck carries what a box car would carry. It, of course, would make sense to move much of the freight in this country by rail to "hubs" and then move by truck from there. Less fuel would be needed.

There is nothing comparable to Kennedy's putting a man on the moon in a decade when it comes to finding alternatives to oil. Oil is a finite resource-no more is being made. What there is should be used for those things where alternatives cannot be found.

Since much of our oil is imported we are left open and very vulerable to whichever way the winds of world politics blow.

Just a few thoughts for discussion.

[fitz]

04:10 PM on 09/13/2007

Why not encourage your politicians to stop blocking more domestic oil drilling, the production of more refineries, and the construction of nuclear power plants?

Then we can stop killing Iraqis, plus we won't have to start killing Iranians. We can let the savages go back to killing each other like we do just about everywhere else there isn't any oil.

Also, you won't have to walk to work, grandma will have heat in the winter and grandpa will have AC in the summer.

Think about it.

[Honeybun]

04:55 PM on 09/13/2007

I have thought about it. See my third paragraph.

[Paul]

04:58 PM on 09/13/2007

A tax on imported oil is the way to go. It will curb consumption, allow us to build a decent mass transit system and get us out of the war-for-oil business. If the price of oil is higher, the market will seek out alternatives faster.

This process can be made orderly by anually increasing the tax on imported oil.

[BPCentrisAmerican]

02:45 PM on 09/13/2007

Funny that in the late 90s oil was 10 bucks a barrow and the Saudi Royal Family was broke after pissing away their oil wealth on a spending spree in the US and Europe. The big 5 western oil companies went to Congress begging for subsidies, cheap lands lease deals and got them. Then comes big Dick's Secret Energy Task Force in 2000-01, it's secrecy the Ideological conservative judges in the Supreme Court upheld, not that that Dick Cheney acts like a elected public official.

I'm not a big conspiracy theorist, but this one is easy to figure out. What to do with Iraq? Sanctions were coming off and Saddam was not with the program, Iraq was going to convert to Euros and had a solid market in Europe, Russia, and the Chinese, he certainly did not need us. We know what happens next, invade and get rid of Saddam and gain control of their oil by installing a user friendly government, but the big plan got unhinged when completely fucked up post war planning creates a power vacuum and the current mess. This war was motivated to keep control of Iraqi oil on the world market and gain a power base in Middle East to separate Iran and Israel. If you honestly believe that this war would be undertaken if Iraq had no oil than you are seriously nevi.

[wadenelson1]

02:12 PM on 09/13/2007

All's well in Texas.

The Halliburton board cheers as they view the chart on the wall in the boardroom.

Schlumberger plans a stock dividend.

Thank GOD we elected GWB.

[Paul]

01:50 PM on 09/13/2007

Imported oil should be taxed. Commodity markets and price volatility keep the US from achieving energy independence.

Start taxing imported oil at $20/barrel and raise it $20/barrel each year. At the end of 5 years we will have cars that get 55 mpg and a good mass transit system.

And we can kiss the entire middle-east good-bye.

[SmellyOne]

02:59 PM on 09/13/2007

Changing behavior with taxation can work, but it's a very painful process to go through that will create poverty in the short term.

Letting the Free Market find alternatives will solve the problem and create more wealth for more people.

[Paul]

04:55 PM on 09/13/2007

You make a point, but the fact is that the cost of oil is more than just the price per barrel. If we used half the oil we use now, there would be no reason for us to have to get involved in the middle east.

The Iraq quagmire is going to cost a trillion or more. This is money that won't be used to build wealth, except for a few defense contractors.

The less oil we use, the richer we will be.

[SmallvilleSC]

01:48 PM on 09/13/2007

Hurricanes, rag-head sheikhs, slime-ball dictators, and/or the president farts, it all has some effect on the price of gas.
So the oil companies claim.
(Wouldn't you really love to know how the price for a gallon of gasoline is really computed?)
Oh, and let's don't forget the futures' speculators!
"Buy low,
sell high,
reap the profit,
spit in your eye!
Charge till it hurts
for a gallon of gas,
Kick 'em down harder
and f*ck 'em in the ass!"
Gooooo Team!
(Sorry about that. It's football season.)

It's really remarkable that the price of oil and gas stayed not just low but LEVEL for so many years. There weren't even the "seasonal" variations in price. Or if there were, the oil companies ate the minuscule difference, passing the fractional savings on to the customer, instead of obscenely pocketing multi-billion dollar profits per quarter.

Maybe it's just as well there was a news story earlier this week about how someone has developed (and now needs to perfect) a relatively simple process to burn sea water. It ignites and holds temperature high enough to power engines (so it's claimed).

Should technology like this be true, wouldn't it be nice to do to the oil companies, price speculators, and greasy monkeys what they've been doing to us for years?

[fact finder]

03:37 PM on 09/13/2007

Two books that are must read, " None Dare Call it Conspiracy and None dare call it Treason." Hard to find look in used, off the main drag, book stores or College Library's

[Graywolf48]

07:02 PM on 09/13/2007

Factfinder: I remember "None Dare Call It Treason" from the mid 60's, it was mandatory reading for the then right wing lunatic fringe. I say "then lunatic fringe" because now these folks are mainstream of the GOP. It was essentially an anti-communist diatribe. The author(s) accuse a small group of international financiers and bankers (mostly all Jews) of controlling everything that happens on the world stage for fun and profit. The book was a staple of Lou Sheldon, one of the first extreme right fundie preachers who had a "college" located in Cape May, NJ. He was and still is an anticommunist, anti-semitic fundamentalist Christian homophobe. The second book, "None Dare Call It Conspiracy" is from the 70's and also blames everything wrong in the world on the communists (socialists). It was written by a rabid John Bircher. Why would you consider these a "must read?" Do you really believe the Bilderbergers are creating a New World Order and controlling events? Or is it the Tri-Lateral Commission? Or how about just the International Jewish Conspiracy (ala The Protocols of the Elders of Zion) working to achieve world domination and enslavement of the non-elite masses? I think you might want to take a few deep breaths and relax for awhile.

[TJTelecaster]

01:04 PM on 09/13/2007

The Bilderbergers approved Oil up to and over $100.00 per barrel so you are gonna see it and also the market knows that an attack upon Iran and WWIII is coming..!

We must Nationalize the America Oil Industry..

Remember the Oil companies are paying $25 per barrel or less for this $80.00 Oil..

We could cut costs by 1/3 and still have billions for alternative energy sources and development and new engine designs, infrastructure, oil and others and so much more..

It might even help avoid WWIII..!

[mrcontinental]

01:40 PM on 09/13/2007

But the Bilderbergers don't exist.

[mrcontinental]

01:45 PM on 09/13/2007

Just ask Henry Kissinger, he'll tell you.

[johnmorgan]

12:46 PM on 09/13/2007

When gas prices go up, I always think of all the self-centred yuppies in their huge SUVs and Hummers, and I think "Good! Let them pay $4 per gallon."

[Fuji]

02:52 PM on 09/13/2007

Take that, Al Gore!

[mrcontinental]

12:29 PM on 09/13/2007

Just in time for winter.

[thegreatgiginthesky]

12:38 PM on 09/13/2007

Exactly. Are you tired of this bullshit yet America???

[chronic]

01:22 PM on 09/13/2007

Exactly! All this blame the hurricans shit.


How come hurricanes never affected production and prices until the Bush/Cheney junta and The republican crime syndicate hijacked America?

[thegreatgiginthesky]

01:45 PM on 09/13/2007

Bush and Cheney are assholes who have ruined this nation. The hurricane that hit the gulf coast was a cat 1. All it did was dump a bunch of rain. Nothing was destroyed, no one died nothing happened. Just some water on the frigging ground.

[thegreatgiginthesky]

12:26 PM on 09/13/2007

Thousands of years later we're still using a fossil fuel. Compare this to the advances we've made in weapons. Mankind, we're truly sick.

[lornejl]

12:21 PM on 09/13/2007

" Excellent " says Dick Cheney.

[Captain EdwardGraham]

07:47 PM on 09/13/2007

http://www.youtube.com/watch?v=biX0qI1P7B4 Making Progress


http://www.youtube.com/watch?v=biX0qI1P7B4 Making Progress

[Captain EdwardGraham]

07:50 PM on 09/13/2007

09/13/07 DoD Identifies Army Casualties (part 7)
Spc. Steven R. Elrod, 20, of Hope Mills, N.C...assigned to the 1st Squadron, 73rd Cavalry Regiment, 2nd Brigade Combat Team, 82nd Airborne Division...died Sept. 10 in Baghdad...of injuries suffered from a non-combat related vehicle rollover.

09/13/07 DoD Identifies Army Casualties (part 6)
Spc. Ari D. Brown-Weeks, 23, of Abingdon, Md...assigned to the 1st Squadron, 73rd Cavalry Regiment, 2nd Brigade Combat Team, 82nd Airborne Division...died Sept. 10 in Baghdad...of injuries suffered from a non-combat related vehicle rollover.

09/13/07 DoD Identifies Army Casualties (part 5)
Sgt. Nicholas J. Patterson, 24, of Rochester, Ind...assigned to the 1st Squadron, 73rd Cavalry Regiment, 2nd Brigade Combat Team, 82nd Airborne Division...died Sept. 10 in Baghdad...of injuries suffered from a non-combat related vehicle rollover.

09/13/07 DoD Identifies Army Casualties (part 4)
Sgt. Omar L. Mora, 28, of Texas City, Texas...assigned to the 1st Squadron, 73rd Cavalry Regiment, 2nd Brigade Combat Team, 82nd Airborne Division...died Sept. 10 in Baghdad...of injuries suffered from a non-combat related vehicle rollover.

09/13/07 DoD Identifies Army Casualties (part 3)
Sgt. Michael C. Hardegree, 21, of Villa Rica, Ga....assigned to the 1st Squadron, 73rd Cavalry Regiment, 2nd Brigade Combat Team, 82nd Airborne Division...died Sept. 10 in Baghdad...of injuries suffered from a non-combat related vehicle rollover.

09/13/07 DoD Identifies Army Casualties (part 2)
Staff Sgt. Gregory Rivera-Santiago, 26, of St. Croix, Virgin Islands....assigned to the 1st Squadron, 73rd Cavalry Regiment, 2nd Brigade Combat Team, 82nd Airborne Division, Fort Bragg...died Sept. 10 in Baghdad...

09/13/07 DoD Identifies Army Casualties (part 1)
Staff Sgt. Yance T. Gray, 26, of Ismay, Mont...assigned to the 1st Squadron, 73rd Cavalry Regiment, 2nd Brigade Combat Team, 82nd Airborne Division, Fort Bragg...died Sept. 10 in Baghdad...of injuries suffered from a non-combat related vehicle rollover.


http://www.youtube.com/watch?v=biX0qI1P7B4 Making Progress