magnumCA
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Los Angeles
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Message Posted:
8/21/2008 6:42:26 PM
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OH MY.................................
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POLELANE
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Ohio
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Message Posted:
8/21/2008 3:21:30 PM
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they're baaaack
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rtw777
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Florida
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Message Posted:
8/21/2008 12:06:34 PM
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Oil should be on the spot market only. That may help keep the price reasonable.
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letmathe
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Chicago
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Message Posted:
8/21/2008 11:48:23 AM
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kdhloretto ~ your last point was crucial for our future and as a way to relieve the stranglehold of the oil industry (= improved efficiency of existing technology, reduced demand via conservation and alternative fuel development and use).
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rtw777
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Florida
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Message Posted:
8/21/2008 11:34:33 AM
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Oil is at $121+, up over $5. What the hell happen.
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2DRILL4
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Alberta
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8/21/2008 11:30:45 AM
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Interesting post bykdhloretto. I think its interesting that if it requires that much electricity to produce hydrogen, why don't they just go straight to electric cars? Oh yeah, they did but they were killed by the California government. Too bad!
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drthunder
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New York
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Message Posted:
8/21/2008 11:30:37 AM
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Yea Right
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kdhloretto
Veteran Author
Twin Cities
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Message Posted:
8/21/2008 11:20:34 AM
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For those of you that keep raving about hydrogen:
It very well may be a good alternative energy mode in the future, but there are a number of difficult obstacles to overcome. Think of it as more like a battery than as fuel.
Hydrogen is one of the most common elements around us. The only problem is that it does not exist naturally as pure hydrogen. It takes lots of energy to separate it out as a discrete element. (Usually into a gas). Current readily available technologies are about 70% efficient (Not bad). Then you have to compress it to a very high pressure (~7000+ PSI) to get enough of it into a tank where you can drive more than a few miles. This requires more energy, reducing the overall efficiency. Hydrogen is a very small molecule, so it leaks out of very small cracks etc. This requires special tanks and other (currently) very expensive equipment.
Today it takes about $5 or $6 worth of electricity (at ~ .07/Kwh) to extract 1 Kg of hydrogen out of 1/2 gallon of water. This is about equal to the energy of 1 gallon of gasoline. Then you have the efficiency losses in using the stuff in fuel cells or other engines. (The exhaust is water vapor) There is a lot of research going on to improve the efficiencies and technologies, but any way you look at it, we need massive amounts of electrical power. Way more than our current electrical grid can support. Solar or wind will never produce enough to support the need either, unless you dedicate areas the size of Texas for it. The only way it can be done cleanly (In my humble opinion) is we better start building a lot of nuclear power plants and major transmission lines.
This is many years (probably decades) away from becoming mainstream technology, so we need to keep expanding our current petroleum and coal energy sources until then, or our economy will go in the tank. We have the technology to do it far cleaner and safer than ever before.
(Encourage your kids to become engineers and scientists! We need a lot more here in the good ol' USA!)
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rtw777
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Florida
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Message Posted:
8/21/2008 11:18:52 AM
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If price fixing is not the answer, then what is? Everyone, EVERYONE I know has cut back on driving and energy use, yet prices climb. Supplies are up not down and so a reduction is ordered. I don't hear anything from either Candidate about this hugh problem. What can be done other than ride your bicycle?
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TBoneSoCA
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Orange County
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Message Posted:
8/21/2008 11:16:10 AM
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You've got to love those conflicting reports...
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NavyEOD
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Los Angeles
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Message Posted:
8/21/2008 11:12:59 AM
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They said the worst was over. Yea Right!!!
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Caspertherat
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Arkansas
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Message Posted:
8/21/2008 11:12:56 AM
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How do you get gas prices up so your investors can make more money? Make dire predictions about supply or war or something/anything. After all, Labor Day weekend is coming up and they have to hurry and get their last shot at us before the driving season ends. Goldman Sachs is part of the problem.
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evasilion
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Virginia Beach
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Message Posted:
8/21/2008 11:10:44 AM
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OPEC?
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ftsgt
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Illinois
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Message Posted:
8/21/2008 11:09:21 AM
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crude is up almost $4 so far today...ouch
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Don20
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Oklahoma City
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Message Posted:
8/21/2008 11:09:12 AM
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Its all a gamble, heck life is a gamble..
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Caspertherat
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Arkansas
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Message Posted:
8/21/2008 11:09:08 AM
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Goldman Sachs hopes and prays they are right so their investors can make more money. Goldman Sachs would love for prices to go back up because the recent declines hurt those people who were betting on higher prices and bought futures at the higher prices.
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dabuzman
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Seattle
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Message Posted:
8/21/2008 11:08:51 AM
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Hope someone find a magic pill to get better fuel milage and show OPEC we can do it and they can keep their crude. Then watch then cry.
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Cyberpeep24
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Oakland
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Message Posted:
8/21/2008 11:07:34 AM
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keep conserving
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NissanGirl
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Oregon
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Message Posted:
8/21/2008 11:05:30 AM
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Goldman Sachs can take a hike! Supply is down? How can that be when we are cutting back as much as we are??
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Lovelee
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Detroit
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8/21/2008 11:05:05 AM
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So now they cut production. Demand is still up. Guess what's going to happen.
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NoodlyWee
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Orange County
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Message Posted:
8/21/2008 11:03:03 AM
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Isn't "forecasting" like speculating? Then it's all like gambling and all odds are in favor of whomever holds the cards.
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Gorlock
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Toledo
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Message Posted:
8/21/2008 10:58:23 AM
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What controls everything......money
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bobsalwaysmt
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Long Island
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Message Posted:
8/21/2008 10:55:39 AM
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If consumption is lower than last year (as it has been for the last few months) this is nothing but PURE and UNABASHED MANIPULATION - CRIMINAL!
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Caspertherat
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Arkansas
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Message Posted:
8/21/2008 10:53:10 AM
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Let me see here, we are driving less and yet supplys are shrinking? Call me a nut case but do you think the supply problem may not be on this end but on the other end in order to keep prices up???? Just a wild guess.
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Gerund1
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Toronto
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Message Posted:
8/21/2008 10:52:23 AM
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Can someone explain, in English, how it is that oil reserves are at a high and gas supplies are dropping. Can you say "manipulation for profit"?
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DarthDadJr
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Virginia
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Message Posted:
8/21/2008 10:52:01 AM
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Keep the pressure on --- CONSERVE ENERGY!
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Austin1850
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Austin
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Message Posted:
8/21/2008 10:50:47 AM
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knew it wouldn't last long
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maindrag
All-Star Author
Ontario
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Message Posted:
8/21/2008 10:50:25 AM
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115 i'll take it. we're at 123
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kypeanuts
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Louisville
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Message Posted:
8/21/2008 10:49:05 AM
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of course - got to keep it going up
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laddyboy62
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Riverside
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Message Posted:
8/21/2008 10:47:40 AM
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115$ this a.m. and climbing...not good..party over?
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BM4225
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Atlanta
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8/21/2008 10:46:04 AM
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The oil industry does have competition coming on line. Florida Power & Light is building a solar farm in the Mojave dessert. That's a long way from home, with todays cost of building a solar farm almost matching the cost of an oil fired plant, it was decided this was a way to go. Smart thinking, I don't think the cost of solar energy is going to be going up any time soon.
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10k
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North Carolina
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Message Posted:
8/21/2008 10:45:25 AM
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i still remember 25 cents/gallon gas--and it ain't been that long ago...40 years ago it was 25 cents here--so this is one redneck suth'rn'r
who ain't gonna be happy til it falls under $1 again...gas prices didn't fall here in the past 2-3 weeks--i guess they were waiting for the spike...
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bkstecklein
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Tulsa
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Message Posted:
8/21/2008 10:42:49 AM
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lets see here, we are driving less, and buy less gasoline, and gas supply fell. how did that happen, must be production. they do have a way with price multiplication
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TwoEyes
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New Haven
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Message Posted:
8/21/2008 10:38:33 AM
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probably no decline in sight for today -- oil has spiked up $4.44 to over $119/barrel.
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jdbgn
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Los Angeles
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Message Posted:
8/21/2008 10:36:23 AM
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rtw777
The government has no business setting prices. They can't even do what they are supposed to do let alone set prices. There are too many interest groups out there with way too much money and the fools in government are way too greedy.
They are heavily influenced by big oil and industry already.
[Edited by: jdbgn at 8/21/2008 10:37:10 AM EST]
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Caspertherat
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Arkansas
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Message Posted:
8/21/2008 10:35:30 AM
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Of course we have to have this kind of prediction. How else are they going to find a way to jack up prices for the Labor Day weekend? Their last desperate chance this driving season and then they start looking for the dire predictions on FUEL OIL and the coldest winter on record as their next excuse.
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ElCubano
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Miami
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Message Posted:
8/21/2008 10:32:19 AM
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I agree with rtw777
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whitemiata
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Albany
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Message Posted:
8/21/2008 10:32:15 AM
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or is the strengthening dollar part of the reason as well?
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amacquarrie
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Nevada
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Message Posted:
8/21/2008 10:29:21 AM
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we get all excite about the lower prices and now it's time to sock it to us again
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rtw777
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Florida
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Message Posted:
8/21/2008 10:28:39 AM
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I never thought I would say this--Fuel prices should be set by the government! I am a free market man, but greed has taken over. Other countries do it and it works for them. I know they may be commies, but only oil and gas prices should be controlled. It is sad to say and makes me feel as if I am giving up. Maybe I am.
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Arktander
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Illinois
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Message Posted:
8/21/2008 10:25:21 AM
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This is the kind of behavior by business that furthers conspiracy theories.
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dohanian
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Illinois
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Message Posted:
8/21/2008 10:23:27 AM
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They think the US public has become desensitized to the higher price and now they want to jack it up to 5.00 to see if we will become desensitized to 4.00. Well let me tell you I am still stinging from over 3.00
[Edited by: dohanian at 8/21/2008 10:23:55 AM EST]
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superglidefxd
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Michigan
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Message Posted:
8/21/2008 10:20:07 AM
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same thing keeps happening over and over, they just use any excuse to make huge profits.
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Roo08
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Grand Rapids
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Message Posted:
8/21/2008 10:19:16 AM
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jrobbie is right, it all sounds like someone just trying to talk the price back up because they have been hurt they want to make another killing on us.
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AnObserver
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New Jersey
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Message Posted:
8/21/2008 10:17:27 AM
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spec - u - la - tion
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bluebird1
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Toronto
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Message Posted:
8/21/2008 10:17:10 AM
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I wouldn't count on things stabilizing yet.
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Chazzer
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Nevada
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Message Posted:
8/21/2008 10:15:05 AM
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Yeah, the refineries are holding back product!
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spunky4443
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Washington
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Message Posted:
8/21/2008 10:14:25 AM
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Well I hope People continue to Conserve.
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roydarecker
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Minnesota
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Message Posted:
8/21/2008 10:13:36 AM
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I think everything is going to stay on a even platue
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SeerLV
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Las Vegas
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Message Posted:
8/21/2008 10:13:11 AM
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High prices could come right back if OPEC cuts production.
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