"BIG Oil" much like "BAD Weather"

[reconeil]

"BIG Oil" much like "BAD Weather"
(5/19/08)

Like it or not Folks, but societies can control BAD Weather just about as much as national devastations & cripplings from Big Oil Conglomerates & Cohorts can be controlled or stopped.

Both Nature or God and gods of Oil (re. Oil Barrons, Sheiks, Governments,Speculators, Profiteers or whomever) always do as damn-well-please. These realities cannot be denied, nor that both entities apparently: "Work in mysterious ways".

Still, and in fairness to God, at least He (maybe She?) does eventually stop any such troubling devastation cycles forced upon mankind. Unfortunately, The Greedy gods of Oil are never so merciful or kind. Lulls in greed for va$t windfall$ only last for awhile and/or until a new plateau in Oil Price is concertedly desired & agreed upon. Basically, such collusion in greed is determined by: "Whatever traffic will bare".

Plus, God would never in His Wisdom intelligence insultingly excuse economy inflating devastations as merely due: "Supply & Demand". Whereas, MANY Oil Exporting Nations (America inclusive) having Vast Oil Reserves (some pumping, some tapped, some not yet drilled) perpetually & duplicitously DO JUST THAT.

Hell,...'twas only recently that Saudi King Abdullah himself proved the quite valid point that World's Oil Consumers are daily being Waltzed-Around BIG TIME,...with that: "Supply & Demand" people-pacifying & nonsensical excuse. Such occurred when President Bush fruitlessly asked The King to increase Saudi Oil Production, under the FOOLISH (People on street know better.) misconception that such would bring World Oil Prices down.

The King quite knowledgeable about oil (as are MANY others worldwide) responded to Bush's request with words to the effect Of: "Since Demand for Oil was DOWN, I see absolutely no reason whatsoever for INCREASING Oil Production". King sure makes sense to me.

Yeah, that's right: "Pilgrims" and/or consumers daily held hostage & victimized by Oil Fat Cats (both domestic & foreign). Trade-in your SUVs for bicyles, walk or whatever. But, I personally believe that only idiots could still possibly believe governments, leaders, journalists or pundits excusing Absurdly High Oil Prices,...as lamely & stupidly as due that: "SUPPLY & DEMAND" silly nonsense. Such just not so.

Neil

[reconeil]

Well,...here goes again.
Let's see if we can't that: "Few hours of lost database", debunking what some might call
blatant: "Oil Terrorism" back & rolling again.

Yesterday, some info slipped-out that should truly make all we Oil Victimized think.
While news that World Oil Spot Price had reached about $130 a barrel & Futures were speculated at about $140,...some U.S. Senator was announcing that Congress would be holding hearings and/or a: "Dog & Pony Show" (his words) on BIG Oil rip-offs.

Apparently doesn't matter one iota to many in U.S. Congress that DEMAND for Oil in America has gone DOWN for the last 2 years while Oil Price has steadily & astronomically increased (WOW!),...nor even that Saudi King Abdullah recently refused increasing oil production for President Bush since: "World DEMAND for Oil was also DOWN (Another WOW!).


So then, and in A QUITE DIFFERENT THAN USUAL Realistic & Honest context about Oil, anyone still believing that: "Supply & Demand" or lack of drilling & refineries are what cause the ever increasing Costs of our Criminally Economy Crippling Fuels has to be an idiot,...or at minimum that: "Sucker born every minute" that P.T. Barnum once proudly alluded to.

Neil

[revwardoc]

I was watching the news yesterday and a Congressional Committee (what a terrifying thought) was interviewing the heads of all the major oil companies asking they why, after several consecutive financial quarters of making increasing net profits, is the price of oil still rising. The head of Exxon, looking very bored, said it was the same very simple economics that they've been explaining for the past several consecutive financial quarters: the law of supply and demand, blah, blah, blah. In other words, we (the oil company execs) are all ultra-greedy assholes and they's not a damned thing Congress can do about it.

[DeadlyDaring]

Farrrrr! Tooooo!!!! Maaaanyy! Posts!!! on the Arkin!!! same subject Arkin' Ellll!

[Boats]

Chicago 4.25+ per gallon. $200 a barrel they say in the next 12 to 16 months. Why?

[revwardoc]

Breaking News:


CNN reports that gas stations will start showing PORN movies on the screens of the pumps so that you can see someone else get screwed at the same time you do!!

[David]

AP


PARIS - A leading global energy monitor said Thursday it is worried that demand for oil will outstrip world supply and is preparing a landmark revision of its closely watched forecasts.

The International Energy Agency is studying depletion rates at about 400 oil fields in its first-ever study of world oil supply, said chief economist Fatih Birol.

"We are entering a new world energy order, " Birol told The Associated Press.

Market analysts call the Paris-based IEA the world's most reliable independent source of oil information, and its new forecasts are likely to further upset markets. Oil prices hit an all-time high Thursday above $135 a barrel before falling back.

Birol said the study, which will be released in November, was prompted by concern about the volatility of world oil markets and uncertainty about supply levels.

"The prices are very high, and demand did not respond in the last few years as much as one would have expected," Birol said. "The growth in terms of production was not great. We did not see enough investment."

He would not speculate on whether the forecast, which will predict supplies through 2030, could go sharply downward.

Birol said oil companies and governments have been cooperative with the IEA experts preparing the report, though analysts were skeptical that the agency would get a complete picture from often-secretive oil producing nations.

He said most demand now and in the coming decades will come from China, India and the Middle East. That is a stark shift from past decades, when the United States and Europe were demand-drivers.

The IEA is part of the Organization for Economic Cooperation and Development, which brings together 30 rich nations. It has no links to OPEC, and its review may challenge the Organization for Petroleum Exporting Countries' view that the world is well-supplied with oil.

Gasoline prices sprinted to a new record high overnight ahead of the Memorial Day weekend. The national average rose above $3.83 a gallon. Some analysts predict gas will break past $4 as early as next week.

Oil prices rose to a record $135.09 a barrel in overnight electronic trading on the New York Mercantile Exchange before retreating to trade down $1.11 at $132.06 a barrel by afternoon in New York.

Unlike last year, oil prices are setting new record highs on a daily basis, pushing gas prices with them.

The fear is that oil producing regions will not be able to meet future demand.

"The oil investments required may be much, much higher than what people assume," Birol told The Wall Street Journal in a story published Thursday. "This is a dangerous situation."