[Revi]

I think it depends on who "we" are. We have a lot of technologies that can half our energy consumption and allow us to live almost exactly the same lifestyle now. Why not use them? I think a lot of it has to do with people not knowing that there is any alternative to fossil fuels.

Every time they raise the price of fossil fuels, I'm doing something to use less of them.

Now that oil is setting records, I think people are ready for alternatives.

We're always on the verge of the wheels falling off. When they do, I'm going to have a solar-electric car going. We built this with the kids in my high school. Click on the youtube movie. It was really fun.

www.sunnev.com

[aancci]

$this->bbcode_second_pass_quote('Bas', '$')92.40 in early monday morning Asian trading.

http://www.livecharts.co.uk/MarketCharts/crude.php

[sameu]

saw $92.74 on cnbc

and some dumbass chick babbling about geopolitical stuff and market driven by fear
without the geopolitical tensions oil could go to $70
which is funny, cause when oil was $70, without the geopolitical tension it would have been $50 and when it was $50 it could easily drop back to 40 dollars etc

[Leanan]

Brent crude hits record $89.40 on Mexico outage

$this->bbcode_second_pass_quote('', ' ')SINGAPORE, Oct 29 (Reuters) - Brent crude oil futures <LCOc1> jumped 71 cents to a new record high $89.40 a barrel on Monday, after news of a halt to one-fifth of Mexico's oil output added fresh fuel to the market's rally.

U.S. crude futures <CLc1>, which made a new record earlier in the day, leapt 91 cents to $92.77 a barrel by 0115 GMT after Mexico's state oil firm Pemex said it had shut in 600,000 barrels per day (bpd) of Gulf production due to a cold front and high inventories at its major export terminals.

[Armageddon]

Pemex said it had shut in 600,000 barrels per day (bpd) of Gulf production due to a cold front and high inventories at its major export terminals.

WTF does that mean ?

[Leanan]

I would guess it's referring to the shut down they had to do after that storm moved through. The one that caused two rigs to crash into each other and killed 19 oil workers. They had to close their export ports due to the weather, and that probably means the oil backed up there. Hence the high inventories.

[roccman]

Link

$this->bbcode_second_pass_quote('', '
')BEIJING (AFP) - Fuel shortages were reported at petrol stations throughout China Sunday as the cost of oil on the domestic market lagged behind record global prices, prompting refiners to slow deliveries.

Petrol stations were temporarily closed or refusing to sell petrol and diesel in Shanghai, the southern provinces of Guangdong and Fujian and in the central and eastern regions of Zhejiang, Shandong and Henan, state media reports said.

[HEADER_RACK]

$this->bbcode_second_pass_quote('Armageddon', 'P')emex said it had shut in 600,000 barrels per day (bpd) of Gulf production due to a cold front and high inventories at its major export terminals.

WTF does that mean ?

[DantesPeak]

$this->bbcode_second_pass_quote('Armageddon', 'P')emex said it had shut in 600,000 barrels per day (bpd) of Gulf production due to a cold front and high inventories at its major export terminals.

WTF does that mean ?

[Leanan]

I think this was the "cold front" they are referring to:

Mexico finds 2 more victims of oil rig collision; death toll 21

That is how it was described in the news at the time: as a "cold front." It wasn't a hurricane. They weren't even expecting a storm. It was a cold front.

I think that's why it did so much damage. They really weren't expecting anything that bad.

[HEADER_RACK]

$this->bbcode_second_pass_quote('Leanan', 'I') think this was the "cold front" they are referring to:

Mexico finds 2 more victims of oil rig collision; death toll 21

That is how it was described in the news at the time: as a "cold front." It wasn't a hurricane. They weren't even expecting a storm. It was a cold front.

I think that's why it did so much damage. They really weren't expecting anything that bad.

[DantesPeak]

$this->bbcode_second_pass_quote('Leanan', 'I') think this was the "cold front" they are referring to:

Mexico finds 2 more victims of oil rig collision; death toll 21

That is how it was described in the news at the time: as a "cold front." It wasn't a hurricane. They weren't even expecting a storm. It was a cold front.

I think that's why it did so much damage. They really weren't expecting anything that bad.

[Leanan]

Mexico shutting 600,000 bpd oil output due cold front

$this->bbcode_second_pass_quote('', 'M')exico's state-owned oil company Pemex was shutting down about one-fifth of its daily output on Sunday due to bad weather, but said it expects to quickly resume output within days.

U.S. crude oil futures jumped as much as 1 percent to a record high $92.79 a barrel on news of the outage, which traders fear could put further strain on winter fuel supplies in the United States, Mexico's main customer.

A Pemex spokesman, Carlos Ramirez, said the bad weather was expected to last two days and that Pemex should be able to "immediately" resume production once it passes, adding that it had not evacuated any workers from platforms.

[DantesPeak]

Past $93 now.

[Bas]

$93.20 and Brent tops 90 dollar for the first time....

[Johnvancouver]

$100 by this Friday if the Fed cuts by another 0.5 basis point.

[lowem]

Um, that would be, 50 basis points, or a 0.5 percentage point.
The "street consensus" is 25 points, but shrug, who knows?
The earlier consensus was 25 points too, and they did 50.

By the way, anybody still remember the good old days of $80+ oil? So very long ago. About one month or so.

[joewp]

Not only has crude now hit $93.20, but reformulated gasoline (RBOB) is now at $2.29, which is a Summer-like price, and diesel/heating oil is at a record shattering $2.45. Gold is $795 and silver is $14.43. We're watching the collapse of western civilization in front of our eyes.

Don't you feel privileged to witness this historic event? Hope you can keep warm this winter and in winters to come.

[roccman]

$this->bbcode_second_pass_quote('joewp', ' ')We're watching the collapse of western civilization in front of our eyes.