[MD]

It's on the news board listed as "Oil Gets More Expensive Again"

The article blames Peak Oil chatter for high oil prices!

I just posted it here to make sure it is not missed. Don't miss it!

[smallpoxgirl]

$this->bbcode_second_pass_quote('Ice Tea', 'V')iolence erupts at a Los Angeles hip hop concert; rap music blamed for violence.
Violence erupts at a New York hockey game; hockey blamed for violence.
Violence breaks out at a European soccer game; soccer blamed for violence.
Violence breaks out at a nuclear peace rally; peace blamed for violence.

[Raxozanne]

Yeah it's like when I try and tell people about it and then they get all angry when they finally understand what I am yapping on about and accuse me of 'wanting it to happen'.

[MD]

$this->bbcode_second_pass_quote('smallpoxgirl', '')$this->bbcode_second_pass_quote('Ice Tea', 'V')iolence erupts at a Los Angeles hip hop concert; rap music blamed for violence.
Violence erupts at a New York hockey game; hockey blamed for violence.
Violence breaks out at a European soccer game; soccer blamed for violence.
Violence breaks out at a nuclear peace rally; peace blamed for violence.

[Jack]

Isn't it amazing how influential we are? We, with our little board and our comments, move markets and make great corporations and governments tremble.

I shall try not to let the power corrupt me. Any more, that is.

[OilsNotWell]

Look the only reason IF "chatter" about peak oil is to blame, which I most sincerely and highly doubt, then it assumes there is some level of TRUTH to them, for who would believe such an idea enough to ACT on them, if the evidence was not convincing? Riddle me that one.

[khebab]

The juicy part:
$this->bbcode_second_pass_quote('', '"')The market is riding a wave of sentiment," said Tim Evans, senior energy analysts at IFR Markets. "Actual production is rising, inventories are higher, even the build in distillates is 800,000 higher than last year, so where is the shortage?"

According to Evans, some of the oil price hike is based on chatter about "peak oil," a theory that world oil reserves have reached their peak and will gradually decline until the world eventually runs out of it completely.

Evans applied a calculation to data from BP's (BP:NYSE - commentary - research) latest annual statistical review of world oil, showing that in 1980, there were 29.5-years worth of oil reserves at that year's consumption rate, while in 2004, there were 40-years worth of oil reserves at 2004 consumption rates.

In 1980, world oil reserves were estimated at 667.1 billion barrels, while in 2004 estimates show 1.18 trillion barrels are still in the ground, BP's report shows.

"There is no evidence that the exhaustion of resources is imminent," Evans said. In fact, recovery rates keep growing as sophisticated technologies have made more of the globe's surface accessible, such as deepwater drilling in the outer continental shelf.

[MD]

$this->bbcode_second_pass_quote('OilsNotWell', 'L')ook the only reason IF "chatter" about peak oil is to blame, which I most sincerely and highly doubt, then it assumes there is some level of TRUTH to them, for who would believe such an idea enough to ACT on them, if the evidence was not convincing? Riddle me that one.

[OilsNotWell]

And think of the market like a vast voting machine where people vote with REAL MONEY about their ideas about where they think the price should be or will go to...

I think a few people have been caught with their SHORTS down...listen in the distance to their squeals...

[duke3522]

$this->bbcode_second_pass_quote('Jack', 'I')sn't it amazing how influential we are? We, with our little board and our comments, move markets and make great corporations and governments tremble.

I shall try not to let the power corrupt me. Any more, that is.

[OilsNotWell]

The oil markets are moved by gargantuan investment players, traders, etc, in my opinion, and analysts get paid buku bucks to look at the data, form opinions about them, and advise which direction to go, also there's a lot of hedging by refiners, airlines, etc.

The mere fact that this article admits that one of the underlying reasons that the markets have moved the way they have is a clear admission that we have a big problem with depletion either now or coming very shortly..

But whatever happened to the usual old blame excuses game? You know, hurricanes, terrorism, Yukos, the weather, refineries, Venezuela, Nigeria, pirates, pipeline attacks, etc?

[KiddieKorral]

$this->bbcode_second_pass_quote('OilsNotWell', 'B')ut whatever happened to the usual old blame excuses game? You know, hurricanes, terrorism, Yukos, the weather, refineries, Venezuela, Nigeria, pirates, pipeline attacks, etc?

[MD]

$this->bbcode_second_pass_quote('OilsNotWell', 'T')he mere fact that this article admits that one of the underlying reasons that the markets have moved the way they have is a clear admission that we have a big problem with depletion either now or coming very shortly..

[Tuike]

I watched tv news and there were the usual exclamations such as refinery constraits and restlessness in oil producing countries.

[OilsNotWell]

You do know that peak oil realists are going to be vilified as the prices rise, don't you? Expect quite a bit more blaming and anger...

But we are the ones who have been trying to WARN to prevent bad things from happening...sigh...people never change...

But all we have to do is point out El Presidente's comment that:
$this->bbcode_second_pass_quote('', '
') "What people need to hear loud and clear is that we're running out of energy in America."

(U.S. President George Bush, May 2001)

"Our supply of energy is not growing fast enough to meet the demands of our growing economy."

(U.S. President George W. Bush, April 2005)

[RonMN]

Raxo Said:
Yeah it's like when I try and tell people about it and then they get all angry when they finally understand what I am yapping on about and accuse me of 'wanting it to happen'.

Keep this in mind guys...WE could get all the blame, and the ones we've been trying to make "aware" could turn very ugly on us!!!

If "chatter" keeps taking the blame then i strongly suggest we start trying to be quiet around our peers...when people get frightened, they can blame any body...any thing...even their friends.

Ofcourse i'll keep comming here to talk, but i'm already cautious of whom i mention PO to in the real world.

[MicroHydro]

I admit it, it was my fault. I sold the house, and put the life savings in oil futures. Before I moved, I told a lot of friends to do the same. Some of them did.

Since votes are not counted anymore, I voted in the only way the system understands - with my capital. Revenge of the "reality based community" strikes!

[MD]

In this culture, the phenomenon called "Shoot the Messenger" is almost universally understood. I suspect the same is true almost everywhere.

[Sgs-Cruz]

$this->bbcode_second_pass_quote('MicroHydro', ' ')I sold the house, and put the life savings in oil futures.

[Daculling]

Remember folks, they always knew we were right but they chose to ignore us either consciencely or unconsciencely. That's changing now.

As far as blame goes... Chatter is usually associated with TERRORISUM!