> On Fri, 13 Jun 2008 05:24:14 +1000, Sean wrote:
>

>>
>> "tg" earthlink.net> wrote in message
>> news:dc911a6b-db03-4220-8c75-c745e980b942@34g2000hsh.googlegroups.com...
>> On Jun 12, 12:03 am, "Sean" bro.org> wrote:

>>> "Jerry Kraus" yahoo.com> wrote in message
>>>
>>> news:fa3ddaa2-a45a-4b64-8ea3-f819c0ac1f20@25g2000hsx.googlegroups.com...
>>>

>>>> It's interesting, in observing all of the activity surrounding the
>>>> catastrophic runup in oil prices lately that virtually no one is
>>>> providing the fairly obvious explanation that we're out of oil.

>>>
>>> Maybe that's because we're not out of Oil at all.
>>>
>>> Ah,
>>>

>>>> it's the War in Iraq, or, it's gas-guzzling SUV's, or, it's those
>>>> pesky Chinese and Indians with their burgeoning populations and
>>>> economies, or, it's the Greed of the Oil Companies, or, it's our
>>>> inability to adequately conserve, or, it's because we aren't drilling
>>>> offshore and in Alaska. Naaaaaaaaaaaaaaahhhh!!!!

>>>
>>> It's all of those pushing up the Price, but more than the above it's the
>>> manipulation of world trade by vested interests, including Stock markets
>>> and
>>> the money trader system. iow it's a free market system taking advantage
>>> of
>>> the market forces to profiteer
>>>

>>>> The pump is dry. The well is used up. The barn is empty. We are
>>>> fresh out. We no longer have those items in stock. No, I'm sorry, we
>>>> don't have any of those.

>>>
>>> It's isn't dry, there is enormous amounts of Oil, and there is NO
>>> shortage
>>> of it. Tankers do not lay idle in exporting countries waiting to fill
>>> up,
>>> oil wells are not dry, there is ample Oil to meet the current demand for
>>> Oil, no doubt about it.
>>>
>>> There is not one Gas Station in the USA that is out of Oil, not one, so
>>> "shortage" of Oil is NOT the driver of the current price hikes.
>>>

>>
>> Why would a tanker waiting to fill up be the test for the term
>> 'shortage', rather than an increase in retail price? Are you saying
>> that having a tanker sit idle doesn't cost money?
>>
>> -tg
>>
>>
>> -------------------------------------------
>>
>> Do I really have to answer those questions?
>>
>> Economic shortage is a term describing a disparity between the amount
>> demanded for a product or service and the amount supplied in a market.
>> Specifically, a shortage occurs when there is excess demand; therefore,
>> it
>> is the opposite of a surplus.
>>
>> and
>>
>> OPEC Supply OPEC crude oil production is projected to average 36.9
>> million
>> bbl/d in the second quarter, 140,000 bbl/d higher than first quarter
>> levels.
>> Over the quarter, lower production in Nigeria, due to security problems
>> and
>> a workers strike, was offset by higher Iraqi and Saudi production. Saudi
>> Arabia reportedly increased output in mid-May by 300,000 bbl/d, with
>> production expected to reach 9.4 million bbl/d in June. At these
>> production
>> levels, global surplus production capacity, virtually all of which is in
>> Saudi Arabia, should be about 1.4 million bbl/d in June (OPEC Surplus Oil
>> Production Capacity). OPEC crude oil production is expected to increase
>> during the third quarter of 2008, although this is dependent upon how the
>> security situation in Iraq and Nigeria evolves..
>>
>> Inventories. OECD commercial inventories fell in the first quarter of
>> 2008
>> by about 430,000 bbl/d, in line with the 5-year average decline during
>> that
>> part of the year. At the end of the first quarter, OECD commercial
>> inventories stood at 2.54 billion barrels, 18 million barrels above the
>> 5-year average and equal to 53 days of forward consumption.
>>
>> virtually all of the growth in non-OPEC supply is expected in the second
>> half of the year, with an expected year-over-year increase of 820,000
>> bbl/d,
>> driven by growth in Brazil and Azerbaijan
>>
>> AND
>>
>> World has enough oil reserves, says BP boss
>> Terry Macalister, Guardian
>> The world is not running out of oil and can continue to produce
>> hydrocarbons
>> for the next 40 years provided restrictions are lifted on where companies
>> can operate, the head of BP said today.
>>
>> The Arctic and currently closed areas off the coast of America should be
>> considered for exploration if rising global energy demand is to be met in
>> future, said chief executive Tony Hayward.
>>
>> He insisted that all other forms of energy, whether clean-tech or
>> otherwise,
>> also need to be developed simultaneously while rising carbon emissions
>> could
>> still be curbed.
>>
>> ... The BP boss was talking at the launch of his company's annual
>> statistical review of world energy which showed that world oil
>> consumption
>> grew by 1.1%% in 2007, or 1m barrels a day, slightly below the 10-year
>> average, while production fell by 0.2%%, or 130,000 barrels a day, the
>> first
>> decline in five years.
>>
>> An increasing number of oil industry commentators have put forward the
>> view
>> that "peak oil" has now been reached - or shortly will be - and is
>> responsible for a 40%% rise in crude prices this year to record highs of
>> nearly $140 a barrel. BP, though, said today that proved oil reserves at
>> 1.24tn barrels are enough to meet current production for 41 years.
>> (11 June 2008)
>>
>> Oil data lag may cause sharp price fall -Lehman
>> Reuters
>> Oil prices could fall sharply toward the end of this year or early next
>> year
>> as evidence of eroding demand in Asian economies slowly materialises,
>> investment bank Lehman Brothers said in a report.
>>
>> ... Lehman analysts said they believed oil prices in the high
>> double-digits
>> would curb demand growth enough to allow supplies to catch up, but that
>> it
>> may take months for demand destruction to appear in data, and that oil
>> traders "appear to have lost patience".
>> (9 June 2008)
>>
>> Saudi Arabia to call summit of oil producers
>> Terry Macalister, Guardian
>> Saudi Arabia says it will call a summit of oil producers and consumers in
>> a
>> bid to stem the soaring price of oil amid fears that the world economy
>> could
>> suffer if fuel costs continue to rise.
>>
>> The world's biggest producer said that recent rises - including the
>> record
>> $10 rise on Friday - were not justified by market fundamentals and that
>> the
>> kingdom would work with Opec to guarantee supplies. (9 June 2008)
>> --------------------------------
>>
>> PS
>> Due to the USA's trade sanctions on Iran, it is restricting their ability
>> to
>> increase oil production for the last 28 years.
>>
>> Due to the USA's invasion of Iraq and subsequent security instability in
>> that nation plus the region, the factoring in of higher prices for future
>> orders due to the "unknown" keeps occuring.
>>
>> ---------------------------
>>
>> Does that all add up ok?

>
> What "adds up" is biofuels from algae. Enough of this fascist pig manure.
> Imagine: Companies that actually _produce_ energy instead of laying claim
> to it.
>

> --
> "I know no safe depository of the ultimate powers
> of society but the people themselves; and
> if we think them not enlightened enough to
> exercise their control with a wholesome
> discretion, the remedy is not to take it from
> them, but to inform their discretion by
> education." - Thomas Jefferson
> http://GreaterVoice.org/extend
>