Saudis to pump oil at record levels
 

Hopefully I can pull up and pump gas from now on without a hundred $ bill handy.

http://www.independent.co.uk/news/wo...il-847830.html

-S

....and the price of gass will probably still go up. :nope:

Wonder if Mars has oil, forget finding traces of water, lets send up a drill and start drilling :rotfl:

You would need evidence of past life first. Where do you think oil comes from?

-S

If the Ghawar oil field is on the decline like many peak-oil apologists claim, wouldn't this be counter-intuitive for the Saudi family?

the fact that they're increasing output to lower prices to maintain demand suggests to me that there is still a helluva lot more oil out there to be tapped... lets face it the saudis wouldnt be doing something if it wasnt in their longterm interests...

but you do not know what political pressure and horse trading is going on to make it in SA's interest

The Saudis are our bestest friends ever.

PD

exactly. This is a stratgeic decision of theirs. Politic strategies do not allow to make conclusion on physical state of things. It is in the best interest of short-termed profiteers to make people believe there is plenty of oil left, and it pays off to still invest into oil-consuming cars, oilconsuming energy production etc. Else people would turn towards alternatives, oil-depending cars and oil depending energy production wopuld decline - and by that oil-sales would drop overproportionally.

sometimes you are low on ammo but fire almost all of it at your enemy - to make him believe you have plenty of it left that you can afford to waste it.

While I accept that we need to be actively looking to replace oil as a fuel resource over the next 20 years, to continue to get the vast majority of our oil from the Middle East makes no sense at all.

With China and India placing ever increasing demands on the worlds oil supply as they grow as industrial Countries, you don't need to be a mathematician to see what will happen to the price of oil over the next 20 years.

The irony is that here in the US, we have several options which would solve our oil problem until an alternate fuel source is decided upon.

One solution would be drilling off the coast of Florida. Most experts agree that there is enough oil there to sustain our needs for about 30 years. The same is true for Anwar. By one federal estimate, the refuge holds more than 4 billion barrels of oil ready for the taking. The USA consumes roughly 20 million barrels of oil a day.

The argument against drilling in Anwar has been the disruption to wildlife. Yet we're talking about drilling in an area the size of a large city, when the Anwar region is the size of three States.

I think Americans have to ease up about things like not wanting to see oil rigs off the Florida coast as an excuse for not drilling there. If we want to continue to drive what we want when we want then there is a price to pay for that luxury.

...meanwhile in the UK, gordon brown thinks this the perfect respite to go ahead with the 2ppl increase in fuel duty early, originally planned for october...

I put £30.00 of diesel in at the pump on saturday. Would anyone hazzard a guess as to how many litres that put into my tank?






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20 litres.

The price will not go down. They have seen we will pay these inflated prices so why change anything?

I forgot :damn:
Ah well, its about time we moved away from fossil fuels anyway, that stuff won't last forever.

Britain has the highest tax on petrol on this planet AFAIK.:nope: They really exaggerate it.
Here we are paying about 1.50€ (ca. 2.31$ / 1,18 £) per litre now (changes daily).:roll:

You know what the worlds rate of growth for oil consumption has been yearly for the last 30 years? About 1%. This includes China, India, the US, Europe, You name it. This is why I despise the media attempts to say that all the sudden China is using way way way more fuel! BS! Nothing has changed. What you are listening to is speculators. They are hyping the cost of oil again.

And yes, its in the Saudi's best interest to pump massive oil - They are getting top dollar for it right now! I'd turn it up too! Got a get it while its hot!

-S