Oil Squeeze coming

[theclencher]

IEA sees oil supply crunch looming


I think the only logical responses to this situation are to breed lots of kids, build a McMansion and move as far away from my job as I can, and get a commuter Expedition. Oh, and demand that someone else (govt., industry, military, whoever) DO something.

[Bill in Houston]

Now yer thinkin'. Driving those old Tempos wasn't getting you anywhere.

Pretty bleak. And rightfully so. Too bad most of the oil is in places with high political risk. Tends to make it more difficult to forecast production.

[GasSavers_roadrunner]

I think the only logical responses to this situation are to breed lots of kids, build a McMansion and move as far away from my job as I can, and get a commuter Expedition. Oh, and demand that someone else (govt., industry, military, whoever) DO something.

Very very well said!
I might add, try not to be informed about what is going on in this world. Like don't listen to NPR, and hear what might bother you. Just keep spending and spending, and getting more material possessions.

[Silveredwings]

Stupid OPEC. Can't we just take over a few more countries? Don't they know we have kids to drive to Walmart?!

[theclencher]

Lookit:

"...Oil prices climbed towards $72 a barrel on Monday as central bankers injected cash into jittery financial markets and as expectations of energy demand remained robust... Demand from the world's second largest consumer China also remains strong, with July imports of crude surging 39 percent versus a year ago."

39% increase?!?

http://news.yahoo.com/s/nm/20070813/...n8h.V0qvlg.3QA

And this too:

"...The price of oil is headed for $US100," Chavez told Caribbean leaders at an energy summit. "OPEC says so ... We should prepare ourselves for those prices." He added that "the world is entering into an energy crisis" largely caused by a US-influenced "consumerist model and the limitless waste".

http://au.news.yahoo.com/070811/2/146er.html

"US-influenced "consumerist model and the limitless waste"- LOL! He's right and no "leader" in this country has the ballz to say it. :sad:

Also: "Hugo Chavez, President of Opec member Venezuela, has said he believes oil is headed for $100 a barrel, reported Reuters. Chavez blamed 'voracious consumption' for creating a global energy crisis which has seen oil reserves dwindle. Meanwhile, the country's Oil Minister Rafael Ramirez has said he will advise Opec to leave its output levels unchanged when it meets in September.

http://www.ameinfo.com/128941.html

Interesting how gas prices dropped in my town today. Something tells me this is the calm before the storm...

[Bill in Houston]

China's demand is, is, I can't even explain it. If you get 500 million off donkeys and onto mopeds, they are going to use a lot of oil. And if they start to want electricity or running water, wow, that will be another huge increase in demand. Sort of scary.

[omgwtfbyobbq]

Thanks to the dollar, not supply AFAIK.

[trebuchet03]

Originally Posted by omgwtfbyobbq

Thanks to the dollar, not supply AFAIK.

I think the Canadian dollar is now worth more than the US dollar.... Maybe that will attract some Canadian tourists to infuse some more US dollar power so interest rates can be cut to put power to the stock market while keeping the dollar down at current status low... I mean quo

[omgwtfbyobbq]

If we keep going, all the factories we disassembled and sent to China/Central&South America may be shipped back. I can finally look forward to gainful employment!

[trebuchet03]

Originally Posted by theclencher

Nice lil price bump this last week from 2.74 to 3.09!

Can hardly wait for $4!

I noticed that too.... I saw a 2.75 to 2.89+ :/