[AirlinePilot]

$this->bbcode_second_pass_quote('Gandalf_the_White', '$')1000 per barrel isn't going to be enough if it takes two barrels to produce one. That kind of arithmetic goes beyond fuzzy math. We like to call it the mathematics of doom. Why? You would always have to have external energy inputs into production. The trade off just does not work economically and that will become apparent soon I think if it is not perfectly clear now.

[frankthetank]

AP-

Reminds me of when i use to read thing about how, say CTL, will be profitable when oil hits X (Say $75 barrel). Well thats great, but if oil doubles to get there, so does everything else (metals, other energy souces, labor, etc). Nothing really has changed except the price of just about everything has doubled... Shale oil is another example. I still haven't heard anything about this big nuclear powered electic plants that are going to heat up the ground Its a bunch of BS bullshit...they(oil companies) know they don't want to fuck with that crap, they'd rather have some asshole invade a country so they can get at it. No hair off their ass.

Oil still above 121... thought it might drop more because of WPSR... guess not.

[Dan1195]

Just broke $123....wtf.

[dblk]

$this->bbcode_second_pass_quote('Dan1195', 'J')ust broke $123....wtf.

[idomar]

still an hour to go before the official close, over the last feew days the lsat half hour has provided a large move upward before settling back a little,

could hit $124+ before closing at around $123.something

[Duende]

frankthetank wrote:
$this->bbcode_second_pass_quote('', 'A')P-

Reminds me of when i use to read thing about how, say CTL, will be profitable when oil hits X (Say $75 barrel). Well thats great, but if oil doubles to get there, so does everything else (metals, other energy souces, labor, etc). Nothing really has changed except the price of just about everything has doubled...

[frankthetank]

Thats what it is. I know i've read it briefly before.

Can't believe oil didn't back down today after WPSR... I guess that thing really doesn't do much .

I was reading how some gulf countries are starting to build coal power plants because they are running out of natural gas to use. I think it was Oman and UAE. They really need to ramp up production of electricity soon. Those bastards will have a world of hurt on their hands some day. With all those people living in a HOT humid desert and the only water comes from desalination...ouch. Good luck.

[Duende]

double post

[Ferretlover]

$123.48 @1:23 pm CT.

[Armageddon]

Can't believe oil didn't back down today after WPSR

===================================


??

[Forney2008]

I am going out on a hunch to guess that the reason why oil prices are up in the face of a bearish inventory report is because the overall world inventory levels are probably dropping. Many of these countries are probably exporting their oil to us because we outbid them for it. However, this being a global economy, what effects their inventory situation, will effect the world crude oil price. The U.S consumes 25% of the world's oil. The other 75% is consumed by countries such as China and India whose demand for oil is still rapidly rising.

[jasonraymondson]

Happy days are here again. $125.00 by next week for sure. $150.00 by july

[Bas]

wake me when it's 100 euros....

[AlCzervik]

On edit, yeah, PATC, I am trying to link the $123.63 picture, but it isn't working.

[PeakingAroundtheCorner]

$123.66

[ColossalContrarian]

$this->bbcode_second_pass_quote('Bas', 'w')ake me when it's 100 euros....

[biofuel13]

ok so inventory is up...the dollar is up....then why is oil skyrocketing?

[eastbay]

Inventory is NOT up everywhere.

The Wednesday report indicates it's only up in the USA (and only temporarily). Many other countries are more and more priced out of the market allowing the wealthier nations to continue buying what they would have bought, but at higher prices.

[Zardoz]

[Armageddon]

US inventories won't be up much longer.

Mexican crude oil supplies to U.S. to be cut back by 184,000 bpd. Plus as DantesPeak has said regarding Nigeria and their exporting problems, we are going to see some serious supply issues this Summer and Fall in the US.

http://www.autobloggreen.com/2008/05/05 ... 4-000-bpd/