gas prices, take 2 |
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gas prices, take 2 |
scotty914 |
Aug 29 2005, 02:39 PM
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#1
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suby torque rules Group: Members Posts: 1,528 Joined: 20-July 03 From: maryland, the land of 25 year Member No.: 924 |
okay with the hurrican i have been watching a lot of fox news. according to opec they will pump more oil to help. here is the crazy part opec is going to hold a meeting next month to figure out why gas prices are as high as they are, they stated the opec pumps and sells the oil at 12 per barrel.
so who ever is buying the oil at 12 per barrel is marking it up to a current price of 67 a barrel, i wonder if this is along the lines of enron, artificially marking up the oil. i have read a few things lately about oil wells, some thing like 70 % of the wells that were dry 10 to 20 years ago now have oil in them again, and but that they mean full flow pumping, not partial. right now there is a 55 billion gallon oil surpluse ( just heard it ) in storage in this country. |
Speedster07 |
Aug 29 2005, 10:38 PM
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#2
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Member Group: Members Posts: 177 Joined: 20-September 03 From: Indy Member No.: 1,177 |
I lived in the big D and sold oil for Sunset Energy in the 80's. The problem with starting up the Texas and Oklahoma oil wells is: where do you get experienced help, where do you get equipment, all of the suppliers to the Oil industry are out of business as of the Late 80’s, There are no more drill bits makers here no more casing makers here no more rig makers, they all went Bankrupt. If GM went BK do you have any idea how many venders and suppliers make parts for that company, it could bankrupt the whole country. Most auto manufactures don't manufacture vehicles they assemble parts (from suppliers) to make a vehicle. Thousands and thousands of parts suppliers sell parts to GM, Ford, Honda ect....
Same thing happened to suppliers of the oil producing industry. I know I delta with a lot of them. One day making millions the next looking for a job and selling everything to stay alive. Do any of you remember being able to buy exotic cars rarely seen out, now in the front yard of some Texas mansion, pick up a $12,000 Pres Rolex for 3Grand. Million dollar homes for a few Hundred Grand. I was there saw it, did it, lived thru it. You can't just turn on a switch to pump an Oil rig. Man I wish it was that simple! Sorry for the ramble. (IMG:http://www.914world.com/bbs2/html/emoticons/beerchug.gif) Now I sit and play with Toy Cars (914's) (IMG:http://www.914world.com/bbs2/html/emoticons/driving-girl.gif) (IMG:http://www.914world.com/bbs2/html/emoticons/headbang.gif) |
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