An oil bumper sticker I saw today

"Drill here, Drill more, Pay less"

There are actually morons who:

A. Think it is a "supply & demand" issue even though there are no lines or rationing at the gas stations.

B. Think it is somehow "our" oil.


Un-frickin-believable.
Wow.


----

Americans are like little children addicted to their security blankets (oil).

I couldn't believe it either.

will be charged.


If you don't sell more at a lower price, there is no reason to lower the price. Consumption has not gone down enough to warrant the price going back to what it once was. Maybe it goes back to the low $3 range but I can't see why it would go lower than that.

A friend of mine mentioned "Congress" doing what shrub wants about drilling. I kindly mentioned that: Gas is high because of speculators, regardless when and how much is drilled, we will not see a drop of that fuel for 10 years." That ended that topic.

On monday it was mentioned in congress that they were going to investigate speculators and short sellers. Since then oil is down 11%. Coincidence, I think not.

just at a big scale. Chinese demand has increased which have raised oil prices.

I read that China, with four times the population of the entire US, still uses less oil than California alone.

As China's economic development continues the pressure on oil supply and prices will get much worse as it approaches, and eventually passes given its large population, the level of oil usage in the US. It is a function of how tight and inflexible the supply of oil is that the growth in the last 20 years of a fraction of California's usage has put so much strain on the oil market.

We would be smart to leave the "oil economy" behind as quickly and completely as possible and move ahead, while China endures the consequences of more and more expensive oil in the decades to come.

NPR reported yesterday that there's a supply gut in the US. Demand is down here and there's plenty of Gas and Diesel stocks.

Earlier it was reported that gas and diesel exports are up 33% over last year.

Add the two together and gas should be down.

-Hoot

If the demand for oil goes down in Ohio, but up in Indiana by the same amount, guess what? The price of oil stays the same, but Ohio "exports" some of its oil to Indiana. As soon as the price starts to go up in Indiana and down in Ohio due to the changes in demand, those with the "extra" oil in Ohio will send it to Indiana where they can sell it for more. The price in Ohio rises as some of our supply is "exported to Indiana" and the price in Indiana declines as their supply increases due to "imports" from Ohio.

Thus demand is down in Ohio, but the price stays the same. The same applies to China and the US as it does to Ohio and Indiana. Even though our demand is down, total world demand is stable or increasing still, so the price stays the same or increases and we "export" the oil we had been using before our demand dropped.

going to cause price increases. We, human beings, cannot continue to expect infinitely growing consumption (growing and expanding economies) to continue to exist as they are today on finite resources on which infinite growth is dependent upon.

I forget his name. I saw him on CSPAN. On the floor of the House. He had a bigass poster and that bumper sticker too.

The farmer has his own message board that read:

WANT CHANGE?
DRILL NOW

Since I was riding my bike and had about 30 miles to go, my mind started playing with the letters. I came up with:

ILL NOW
WANT CHANGE
R?
D

1) Would be to take a drill and some tubing
2) Drill through the car's body & into the gas tank
3) Siphon off any fuel
4) Leave a note thanking the owner for their kind offer

US oil producers are EXPORTING 33% more oil this year than last year. If we need it so badly we have to drill in environmentally sensitive areas, why are we increasing exports?

"While the U.S. oil industry wants access to more federal lands to help reduce reliance on foreign suppliers, U.S.-based companies are shipping record amounts of gasoline and diesel fuel to other countries.

"A record 1.6 million barrels a day in U.S. refined petroleum products were exported during the first four months of this year, up 33 percent from 1.2 million barrels a day over the same period in 2007. Shipments this February topped 1.8 million barrels a day for the first time during any month, according to final numbers from the Energy Department.

"The surge in exports appears to contradict the pleas from the U.S. oil industry and the Bush administration for Congress to open more offshore waters and Alaska's Arctic National Wildlife Refuge to drilling."

http://www.cnbc.com/id/25518912/