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Interesting WSJ article on gas prices and Obama

My problem is that I don't have multiple voices in my head like you seem to. I've never seen you directly respond to anything the other person says. You just watch Sean Hannity at night or something and then respond to Sean Hannity through Jazzfanz. Guess what? Sean Hannity doesn't post here! Go call his show or something.
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Except for this thread, where ALL I've done is respond to the issue and YOU'RE the one bringing up Sean Hannity.

Oil doesn't trade on the filth in the ground at any moment. It trades on what is, and what will be in 3-month and 6-month windows. They don't care about what's in the ground. That's what stock speculators trade on. Market caps rise and fall based on what is/isn't in the ground. Again, supply and demand doesn't come into play until oil is scarce. That isn't the case right now. Demand is being met and will continue to be so for many years to come.
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There are small variances, such as your 3-month and 6-month windows. But again, oil is going bye bye.

That's simply untrue. There is plenty of supply to meet demand right now and the foreseeable future.
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How so? You have no proof of this. While your own article shows proof of exactly the opposite. An unstable Iran is bringing about record prices. Last year, it was an unstable Syria. So we can either say that someone is simply using these unstable countries as an excuse to raise prices or agree that the supply and demand is so tight that slight variances (such as Iran threatening to not export to the US) could lead to record gas prices.

And expect prices to continue to increase as it becomes more and more in demand with more countries industrializing. Sorry, there's no reversing this direction. Been happenin for decades.

And lastly, there is less oil in this planet today than yesterday. Once again, you fail to address the long-term advantages of getting off this drug.

$2 gas would be possible in a world of stable monetary growth and peace.
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When has the world ever had that? You're surely not delusional enough to believe this will happen anytime soon, right?

Because demand is so high and supply so tight, just a threat of a war in the ME is shooting gas prices to record levels. With markets becoming more and more interconnected, you're going to see small disturbances on the other side of the world creating huge waves here in the US.

Obama doesn't set monetary policy, you bonehead.
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I didn't say Obama did, your ridiculous article did. So perhaps you should write him?

Once again, for the THIRD time now, you've failed to address the advantages of developing alternative energies. The sooner we get off this oil drug, the better.

Aren't you tired of playing this role?
 
The Thriller said:
Seriously, why didn't you address it?
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Probably because your posts sound like you've been living in a bunker since 1950:

The Thriller said:
As if gas prices haven't been increasing steadily since 1950?
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You don't know what the hell you're talking about. You don't understand markets enough to say anything remotely insightful. Appreciating your input on oil is like appreciating a down syndrome man with Parkinson's operating on your brain.
 
franklin said:
Probably because your posts sound like you've been living in a bunker since 1950:



You don't know what the hell you're talking about. You don't understand markets enough to say anything remotely insightful. Appreciating your input on oil is like appreciating a down syndrome man with Parkinson's operating on your brain.
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All of the fluff aside, do you not agree with him regarding our need to get off oil?
 
Surely said:
I think the point of the article is that by printing billions of dollars, Obama has weakened
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Obama doesn't print money, the Federal Reserve does. He can increase the money stock, however, by spending out the nose. And no, the article was not wrong. This is the trade-off we accept for spurring business demand. The other option is to allow prices to drop, releasing spending power for those with jobs. Margins go down some places and the money saved creates jobs elsewhere. Unfortunately, that wasn't an option in this recession. The thing would have fallen appart without government intervention.

The best we can do at this point is learn from mistakes prior to 2008 and manage the money supply much closer to real inflation. There were so many people warning about this prior to the bubble busting (I got burned in the stock market on the housing bust in 2005, well before things really went haywire). We didn't listen then and we're going out of our way to not listen now.
 
TroutBum said:
All of the fluff aside, do you not agree with him regarding our need to get off oil?
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I really don't give a damn either way. Peak oil is to the 20th century what doomsday prophecies were to the 18th. This has been going on for 60 years and I'll adapt to whatever comes my way.

We use so much oil because we produce so much stuff. Take away the oil without a reasonably priced replacement and you'll set living standards back 50 years. I don't worry about it because higher prices will cure higher prices. We've already adapted a lot by adding millions of vehicles on the road over the last 7 years but have used less fuel in them. I also see a ton of demand destruction in the automobile pipeline. I wouldn't be surprised to see passenger fuel consumption drops outpace EIA and IEA best case predictions.

The thing I don't like is that we're going to consume less oil but export more dollars for it. That's the reason I want a $1.00 tax. It would shock the futures markets and oil prices would drop immediately without dropping pump prices pressuring innovation and conservation.
 
TroutBum said:
I personally can't wait until gas is over 6 or 7 bucks a gallon. Then, and only then, will things change. We're drug addicts, and our drug is oil. If our drug of choice becomes too expensive, or is limited in its supply, then we find something else. It's natural, it happens. As a nation and as a worldwide community, we simply must go forward with alternate energy solutions, and high gas prices is a great way to kick it in the *** and get things going.

I love getting 45mpg in my prius, by the way.
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This.
 
sktwstdfrk said:
Kudos to you for reading SOMETHING. At least you are staying informed, something that 90% of this country isn't doing. And something that the Obama steamroller will use to their advantage this year. An uninformed citizen is an easily manipulated one.
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LOL. I am sure you get your information from FOX News. President Obama doesn't steamroll people, he is attempting to find answers, yes sometimes he has the wrong answers, but at least he is trying. What have the informed Republicans done to resolve the issues they helped to create. It seems "informed" citizens can be easily manipulated too.
 
some very interesting statistic here, including this...

Approximately 250 million personal vehicles are registered in the USA, which amounts to about 25% of all personal vehicles in the world. About 60% of the personal vehicles in the U.S. are cars, the other 40% are SUVs, pick-up trucks and motorcycles.

U.S. Transportation fuel consumption accounts for over 70 percent of total U.S. oil consumption, and more than 65 percent of that amount is for personal vehicles. American drivers consume about nine million barrels of gasoline per day for personal transportation—378 million gallons every day—about 45 percent of total U.S. oil consumption.
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https://www.americanenergyindependence.com/fuels.aspx

and more data here: https://www.eia.gov/energyexplained/index.cfm?page=oil_home#tab2

one major difference between Europe and the US is that Europe is much more densely populated so public transportation is much more efficient. Plus people walk more, and use small local shops rather than driving everywhere and doing all their shopping at big box retailers in outlying malls. Most of the US was developed more recently than Europe - our communities were designed with the idea of using personal cars to get everywhere.
 
As a geologist, I feel like maybe I could weigh in a bit on this conversation.

I went to a recruiting event at BP last week where they gave us a talk about the prospects and future direction of the company. The consensus in the oil and gas industry is that it is not a sunset industry. Prices are rising and demand is increasing. In OECD countries (first world) we are becoming much more efficient with our fuel usage, such that, even with population growth we should not be using much more fossil fuels than we are currently over the next 40 years. The growth in energy consumption is centered in China and India where lack of regulations on energy efficiency along with rampant economic growth are unabated.

This means that we are going to need a lot more energy in the future. The representatives I met at BP basically told us that oil is going to remain at production levels similar to now, however, it will become a smaller part of the energy pie. Basically, alternatives will not only become a reality, but will become a necessity because we need the added energy input to keep up.

Future prospects include:

The north Atlantic region where Arctic sea ice is receding due to climate change. In the past we have not been able to drill here because it was simply too difficult. With changing environmental conditions, this has become a new frontier in the search for hydrocarbons.

Continental shelf of Brazil (sub salt). Until recently, conventional drilling operations were constrained to rock strata that were more shallow than the deep salt sections found on the continental shelf of Brazil. We could not get coherent seismic information because the salt scattered the sound waves and too much information was lost. Furthermore, salt is too unstable to drill through. Modern advancements in technology has side-stepped these problems and now companies are finding more oil than ever thought to exist. Brazil is set to become the next oil super-power. The reservoir off of their coast could contain up to 30% of the world's supply and not only that, it's the good stuff, it's extremely low in sulfur and is isotopically light.

Oil sands, natural gas etc. As prices rise, more unconventional approaches become attainable. The cost of heating and centrifuging oil sands, as well as fracking subsurface rock formations has become less of a limiting factor.

Finally, to say that drill baby drill is the answer is a little simplistic. What I don't think people realize is the gargantuan effort required to implement a hydrocarbon drilling site. From discovery to inception it is a 10 to 15 year process. Although the US could drill unabated, we realistically just don't know what the world will be like in that time frame. It is possible that drilling could lower prices eventually, but it is totally speculative, and it would not solve our problems in the short-term.
 
obama_algae.jpg
 
Millsapa said:
I can't get enough Obaaamaaa mockery. He says some dumb *** stuff.

Krauthammer's mockery of Obama's algae comments was pretty amusing:

https://nation.foxnews.com/charles-...4/krauthammer-mocks-obama-s-algae-energy-plan
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Krauthammer? The same guy who said that we cannot judge Bush's Presidency but declared Obama a disaster before he even took the white house?

The same guy that claimed that previous to the Iraqi invasion, "We cannot afford to try and reform Iraq?" The same guy who said that we had to rid Iraq of WMDs? So did we finally find them? LOL, we cannot afford to reform it. Have you seen how much that **** has cost?

Krauthammer, the guy who wanted us to declare war on Libya, Syria, and Iran?

Hmm....

I would take everything he says con un grano de sal...
 
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