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. |
redshift |
Aug 30 2005, 06:35 PM
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#2
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Bless the Hell out of you! Group: Members Posts: 10,926 Joined: 29-June 03 Member No.: 869 |
Oil is not drying up for a while.
The problem is that we are running a refining deficit, that compounds daily, globally, seasonally, with, and without conflict, and it's a sign of the times, the rampant 'over exuberance' (I didn't say unfounded) in the contract buyers market.. and well.. You can thank people like Sammy! (IMG:http://www.914world.com/bbs2/html/emoticons/ohmy.gif) (IMG:http://www.914world.com/bbs2/html/emoticons/laugh.gif) Has anyone checked the Sammy Seal © Market lately? (IMG:http://www.914world.com/bbs2/html/emoticons/ohmy.gif) RUBBER! OMG! SamDustries LLCTD just posted a 400% increase in month over month, and said they'd beat the street by at least $1,903.18 per share! M |
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