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Premium Member
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the airlines are really feeling it along with the independent truckers.......it is most intresting watching all this happening and the speed at which fuel costs are rising...........''Fascinating''............
 

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90/10 headed for 95/5
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It probably won't...

When will this end ?
My friend, I realize your question is rhetorical, but I figure it will end one of the following ways:

1. When the oil market spirals completely beyond the control of those who currently control it, taking the world economy down the dumper with it. (The world economy is governed by oil, not by a country's gold reserves, not by stocks and stock markets, not by any measures of international trade...but by oil.) There is almost nothing that we do, nothing that we eat or drink, nothing that we use/consume that is not affected in some way by the price of oil.

2. If and when an alternative fuel, or alternative fuels (plural) is/are released for use by everyone, governments, industry, consumers, etc. (and which if not done in an appropriate and controlled manner would see our petroleum-based economy crash).

3. If some other occurrence precipitates number one, and which sets the world back a hundred years or more.

Otherwise it will continue to increase, peak oil or no peak oil.

That's my sense of things, anyway. Hopefully I'm wrong in this instance.
 

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Premium Member
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what we have here is denile...people want the return of cheap oil and dont want to believe whats going on now as if oil is going to return to below $100 a barrel any day now so they are not getting ready for $7 a gallon fuel......i am all for cheap oil..... but, i am ready for $7 a gallon fuel and beyound that if necassary............
 

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Watchin tha world go by
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im afraid yer right 357-
the price will not drop until the ability to pay for it is gone
at that time the western and asian economies will be in shambles

this may sound a bit conspiratorial but it is beginning to look like the oil sheiks are looking to do just that. why else would they have not increased production in almost 30 years,oil production is at the same level it was after the iranian revolution.
they brought other major oil producers into the cartel to control production, exported the islamic revolution to many of the mideast and african producers.
allah akbar
 

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90/10 headed for 95/5
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7,665 Posts
im afraid yer right 357-
the price will not drop until the ability to pay for it is gone
at that time the western and asian economies will be in shambles

this may sound a bit conspiratorial but it is beginning to look like the oil sheiks are looking to do just that. why else would they have not increased production in almost 30 years,oil production is at the same level it was after the iranian revolution.
they brought other major oil producers into the cartel to control production, exported the islamic revolution to many of the mideast and african producers.
allah akbar
I'm not much for conspiracy theories, per se, and I'm sure there are all kinds of factors that I can't even imagine which affect the price of oil on the world maket and also as distilled products we pull out of the pumps. However, I think it should be clear to all of us that, at best, the major oil producers of every stripe are in collusion with each other...
 
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We The People
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1,658 Posts
the airlines are really feeling it ....
American Airlines is going to start charging a $15 luggage fee for the first piece of "checked" luggage to help accommodate the gas prices. It's getting bad, in fact "they" predict gas prices will hit $4.50 by the end of the summer. I really need to pitch the Jeep.
 

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:confused: I have already posted this on other sites so here it goes. The law of uninteneded consequences is getting ready to play out lets take a look at the military for instance alot of the junior enlisted are not going to be able to afford to to go to work make their housepayments/buy groceries etc. And there is not enough base housing to house them. COLA is not keeping up with inflation and if alot of them have to file bankruptcy they will lose their security clearances. Just something to think about.:cool:
 

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"Dolt"
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3,265 Posts
:confused: I have already posted this on other sites so here it goes. The law of uninteneded consequences is getting ready to play out lets take a look at the military for instance alot of the junior enlisted are not going to be able to afford to to go to work make their housepayments/buy groceries etc. And there is not enough base housing to house them. COLA is not keeping up with inflation and if alot of them have to file bankruptcy they will lose their security clearances. Just something to think about.:cool:
True but the military has a way of taking care of its own. I dont see to much harm going the troops way.
 

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True but the military has a way of taking care of its own. I dont see to much harm going the troops way.
Very true but if the middle class is destroyed in this process it is like killing the goose that lays the golden egg. Look at 1929 and the WW1 vets human nature has not changed in 2000 years if ever.
 

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Resident Mutant
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208 Posts
:confused: I have already posted this on other sites so here it goes. The law of uninteneded consequences is getting ready to play out lets take a look at the military for instance alot of the junior enlisted are not going to be able to afford to to go to work make their housepayments/buy groceries etc. And there is not enough base housing to house them. COLA is not keeping up with inflation and if alot of them have to file bankruptcy they will lose their security clearances. Just something to think about.:cool:
Good point. I figure the military will find and alternative though for these people...like Doc said, they tend to take care of their own. The question then becomes, how far will they go?
 

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Watchin tha world go by
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you want a good reason for the skyrocketing price of oil, add the Indian and Chinese increase in demand and you have a 1.2 million/bbl per day increase in consumption (this is a 5 month growth figure 2.9% increase yearly) from the Asian consumers alone, and no increase in output. the only way prices are going to go is up, and rapidly.

http://www.csmonitor.com/2004/0129/p14s01-wogi.html

• Total world oil production reached 68 million barrels per day in 2003, according to a count by the Oil and Gas Journal. That's not much above the 66.7 million barrels per day. in 2001.

http://news.xinhuanet.com/english/2008-06/11/content_8349662.htm

BEIJING, June 11 (Xinhua) -- China's oil imports posted double-digit growth in the first five months of 2008 as global crude prices more than doubled from a year earlier, the General Administration of Customs said Wednesday.

The country imported 75.97 million tons of crude oil, up 12.7 percent from a year earlier, with average prices rising 64.1 percent to 689.9 U.S. dollars per ton.

Imports of oil products jumped 17.3 percent to 17.34 million tons. Prices soared 66.9 percent to average 709.6 U.S. dollars per ton.

Analysts said booming domestic demand, notably from the severe winter and quake reconstruction, fueled imports.

Crude oil exports totaled 950,000 tons, valued at 570 million U.S. dollars, while exports of refined oil stood at 6.48 million tons worth 4.85 billion U.S. dollars.

http://www.eia.doe.gov/steo

in contrast, consumption in the non-OECD countries is projected to grow by 1.2 million bbl/d in 2008, led by China, India, and the Middle East (World Oil Consumption). Continued economic growth, fuel subsidies, and increased oil-fired power generation are supporting increases in non-OECD oil consumption.
 

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AKA The Dragon
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2,818 Posts
Australian airlines are in the process of charging luggage tax and reducing the number of flights and destinations over the fuel price increases.
 
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