[Olle]

Highest this year!
http://www.bloomberg.com/markets/commod ... rices.html

Who is gonna take the blame this time? The Saudies? Bush? Santa?

[syrac818]

Not to dismiss this, or seem like the constant contrarian here in hapy fun land, but...

With global markets at record/near record levels, and the US economy remaining relatively strong, and past performace showing that the economy can continue to expand in the face of $65 - $70 - $75 barrel oil, is there really a reason to blame anyone?

The results of $70/oil seem to be little more than a cranky American public and grumblings about evil oil executives. The economy, however, hasn't taken any huge hit due to this.

Why should OPEC supply more? Why should we be surprised that we're in this price territoy?

[Valdemar]

Given the US economy is in hideous shape, this is by no means a good thing. When it comes to keeping the SPR stocked, the US will feel it. That the Dow is at record levels means squat when buying power of the dollar has plummetted.

[Windmills]

But are economies continuing to grow because high energy prices aren't yet having a significant effect, or are economies like the US's growing because we're playing a bunch of back room credit/debt/deficit/borrowing/hallucinated wealth/money printing games that can only be played for a limited amount of time before their house of cards falls down?

[MonteQuest]

$this->bbcode_second_pass_quote('syrac818', ' ')The results of $70/oil seem to be little more than a cranky American public and grumblings about evil oil executives.....

[syrac818]

LOL - Jeez, no reason to be a beeyotch about it. I'm simply posing a question, which really isn't all that "out of touch" when looking at the current market levels. Cheer up

[dukey]

why such a spread in prices
between brent and the others ?

different crude grades ?

[MonteQuest]

$this->bbcode_second_pass_quote('syrac818', 'L')OL - Jeez, no reason to be a beeyotch about it.

[frankthetank]

Dukey...i think cause there is a glut of oil sitting in texas...

[Olle]

$this->bbcode_second_pass_quote('syrac818', 'N')ot to dismiss this, or seem like the constant contrarian here in hapy fun land, but...

With global markets at record/near record levels, and the US economy remaining relatively strong, and past performace showing that the economy can continue to expand in the face of $65 - $70 - $75 barrel oil, is there really a reason to blame anyone?

The results of $70/oil seem to be little more than a cranky American public and grumblings about evil oil executives. The economy, however, hasn't taken any huge hit due to this.

Why should OPEC supply more? Why should we be surprised that we're in this price territoy?

[syrac818]

LOL...oh please.. and seriously, cheer up. Like, with meds if you have to. The article was decent, an interesting look at the disconnect between the American Wall Street class and the American poor. You can let it go at that.

[Olle]

$this->bbcode_second_pass_quote('dukey', 'w')hy such a spread in prices
between brent and the others ?

different crude grades ?

[Ayame]

$this->bbcode_second_pass_quote('Windmills', 'o')r are economies like the US's growing because we're playing a bunch of back room credit/debt/deficit/borrowing/hallucinated wealth/money printing games that can only be played for a limited amount of time before their house of cards falls down?

[Smudger]

$this->bbcode_second_pass_quote('syrac818', 'L')OL...oh please.. and seriously, cheer up. Like, with meds if you have to. The article was decent, an interesting look at the disconnect between the American Wall Street class and the American poor. You can let it go at that.

[Newsseeker]

Up, up and away it goes. I expect it to break $80 this summer. Anyone else have predictions?

[MonteQuest]

$this->bbcode_second_pass_quote('Smudger', 't')he reality is $70 a barrel will not tip us over and one could argue is a good thing. Even better will be a time when US pretrol prices get on a par with Europe at $7-8. that would reduce demand for petrol/oil i suspect. (and lower Co2 emissions...)

[Smudger]

$this->bbcode_second_pass_quote('MonteQuest', '')$this->bbcode_second_pass_quote('Smudger', 't')he reality is $70 a barrel will not tip us over and one could argue is a good thing. Even better will be a time when US pretrol prices get on a par with Europe at $7-8. that would reduce demand for petrol/oil i suspect. (and lower Co2 emissions...)

[What_Went_Wrong]

$this->bbcode_second_pass_quote('Smudger', '
')
Secondly - Europe gets along just fine on $7-8 a gallon why can't the US? (the result seems to be that we use half the energy for a similar task than the US). or is what we are really talking about is "we need a solution to save the US from peak oil becuase otherwise the US way of life will have to change".....hmm... now there's a thing

[MonteQuest]

$this->bbcode_second_pass_quote('Smudger', ' ')MQ: Do tell me how you analysed it as the tipping point is $40. why not $41 or $56.7?!! my point was 1. trying to illustrate there is no really single tipping point (by which I mean the "we're all doomed" scenario some people subscribe to).

[Dukat_Reloaded]

$this->bbcode_second_pass_quote('', 'O')il Falls Almost $2 on Signs U.S. Gasoline Summer Supply to Be Sufficient