Uh oh.. get ready to panic over global cooling

[OldTrapper]

Oh BTW how does George Bush feel about the EPA and Al Gore? Lets ask him
Theres your answer.

Yeah, like Bush is the smartest tool in the box, LOL Never did care for that lying coward. As to the oil companies, and the EPA, how is it that the more produced the higher the price? Over the past 5 years production has increased 20%, new permits have been given for the Gulf, refined fuel is now our number one export at over a million gallons a day, 6 refineries have closed their doors due to lack of demand because Americans are using less, oil companies are again making record profits while the American people pay more.

Have you ever heard of speculators? Here, educate yourself:

http://www.chicagotribune.com/sns-wp-blm-news-bc-syria-oil02-20130902,0,130982.story

"You buy at the drumbeats of war and sell at the first shot," Bill O'Grady, chief market strategist at Confluence Investment Management in St. Louis, which oversees $1.6 billion, said by phone Aug. 30. "That's kind of how people are trying to play this."

WTI advanced $4.05, or 3.9 percent, to $109.01 a barrel on the New York Mercantile Exchange in the week covered by the report. The Middle East accounted for about 35 percent of global oil output in the first quarter of this year, according to the International Energy Agency.

http://money.howstuffworks.com/oil-speculation-raise-gas-price.htm

 

[dogtowner]

These the refineries you were referring to ?

If so you are mistaken regarding the cause and effect.

Sunoco (SUN, Fortune 500), which closed its Philadelphia-area Marcus Hook refinery in December and is trying to sell another facility nearby, said its refining businesses has been losing $1 million dollars a day for three years running.

Last fall, ConocoPhillips (COP, Fortune 500) closed its Trainer refinery, also in the Philadelphia area.

If all three refineries were closed, that would leave just six operating refineries in the Northeast.

The refineries are losing money because they are old and cannot process the cheaper, heavier types of oil that are increasingly in supply from Canada's oil sands, Saudi Arabia, Venezuela and elsewhere.

 

[OldTrapper]

These the refineries you were referring to ?

If so you are mistaken regarding the cause and effect.

Not at all. While the price for crude has gone up, and the refineries cannot process the heavier oil, the major cause remains the lack of demand, and the inability for the refinery to pass the additional cost on to its consumer.

http://www.businessweek.com/article...igh-gas-prices-blame-shuttered-oil-refineries

Prices for Brent crude have gone up, but demand for gasoline in the U.S. is at a 15-year low. That means refineries haven’t been able to pass on the higher prices to their customers.

 

[steveox]

 

[Aus22]

I am not sure of the position in the USA but demand for oil or gasoline has reduce because most of the world is concern with global warming. People are buying cars which use less gasoline even power by non polluting fuels. The price of oil will continue to go down because of this,

 

[Texas_tea]

I am not sure of the position in the USA but demand for oil or gasoline has reduce because most of the world is concern with global warming. People are buying cars which use less gasoline even power by non polluting fuels. The price of oil will continue to go down because of this,

Oil prices are going down ...... since when?

 

[dogtowner]

I am not sure of the position in the USA but demand for oil or gasoline has reduce because most of the world is concern with global warming. People are buying cars which use less gasoline even power by non polluting fuels. The price of oil will continue to go down because of this,

sorry to burst your bubble my friend but you have it partly backwards and party wrong. People buy higher milage cars because gas is expensive (which it is generally speaking) but demand is off because of the sputtering world economy. Nobody is buying the CO2 hoax any more and thank goodness for that return to sanity.

 

[steveox]

Oil prices are going down ...... since when?

Theyre not going up nether.

 

[Texas_tea]

Theyre not going up nether.

Since when?

 

[dogtowner]

they sort of bob around a bit here but have been up a little thanks to Syria.

 

[OldTrapper]

they sort of bob around a bit here but have been up a little thanks to Syria.

Speculators have a habit of increasing prices based on fear.

 

[steveox]

Since when?

Theyre stabilized. Still $3.56 a gallon here for 6 weeks.

 

[Texas_tea]

Theyre stabilized. Still $3.56 a gallon here for 6 weeks.

Gasoline is about that around here too ....

But, I thought we were referring to Crude Oil Prices .... which have steadily been going up over the last decade!

 

[dogtowner]

Speculators have a habit of increasing prices based on fear.

speculators are behind the Syrian civil war ?

 

[Texas_tea]

speculators are behind the Syrian civil war ?

No .... it's Bush's fault ....