Why is oil above $100?

[Cygnus X1]

Remember, it's cheaper to expand an existing refinery that it is to build a new one.
The new refinery planned for here in AZ has a price tag of $2.5 billion dollars. Yes, that's a "B" in there.

And while I went off on steel (it was to compare two unrelated industries, and "obscene profits" ), look forward to having a steel mill in the Mesa area.

Don't worry, it's small, nobody will notice.

But the environmental impact studies have taken 18 months, it's the biggest bottleneck so far. I've lived there. How can you impact an "environment" that doesn't exist?

[rjohnstone]

But the environmental impact studies have taken 18 months, it's the biggest bottleneck so far. I've lived there. How can you impact an "environment" that doesn't exist?

You have to get past the Mormons first. As long as they get paid, it will happen.
Remember, they own Mesa.
I agree with ya there though. Not much of an environment to impact.
Well there is all that dirt.

[Woman_Driver]

Here in New York, the current gas price is $3.259 per gallon. That converts to 1.672 GBP per gallon. At 3.8 liters per gallon, that is $.857 and .44 GBP per liter.

I pay roughly £4.20 for a gallon. I think the average per liter is £1.09. So that's about roughly $8.23 or there abouts per gallon. =/

[j2379]

the market has helped the price of oil go high & stay there. with stocks iffy, oil & other commodities are doing well. cx you mentioned steel, most metals are on the up. i work for a HVAC contractor, copper is getting expensive. we do 90$ of our work in NYC so by code we must use copper for everything, its get crazy. almost $100 for a 10'length of 1" pipe we use hundreds of feet on a job. asia growing rapidly & is using alot of metals, & demand is high.

[VoiceX3]

It's all bullshit. My daily driver runs premium (93 octane) and is right around $3.30 a gallon. I honestly can not believe that in 10 years the price has tripled. I didn't pay that much per gallon for racing fuel back then. It's all about greed. Yeah the Bush family may be a little guilty of that....but come on, the saudis especially. Who the hell needs to drive a lexus made completely of sterling silver? There's all kinds of crazy shit like that within the middle eastern oil cartels.
Chavez in Valenzuela sees that and want's his extravigant crap too. Absolutely ridiculous.

The real fuel answer.........HEMP OIL!!!!!

[Cygnus X1]

I'm all for miniaturized nuclear powerplants for cars.
Works great on subs and carriers.

[åron]

I guess that's a joke...

It is a joke indeed, on those of us that care. I'm pretty sure the Bush family has all the bases covered. They're well diversified in weaponry, oil services and commodities last time I checked. That whole crew has been cashing in on conflict and oil dependence for generations. The business model of being a political hawk and a military contractor/investor is as old as human civilization.

Keep in mind you have millions of Chinese & Indians who are making middle class money for the first time in history and are buying automobiles, thereby increasing global demand for refined gasoline. You conspiracy nuts can whine all you want, but it all comes down to supply & demand.

...and speculation... I don't see this as a conspiracy. There are other dynamics that suggest conspiracy. We do have broad agreements between various parties to create laws that favor extractors and undermine the power of sovereign resource interests all over the world. Shit, we have representative, parliamentary government. If people didn't conspire, nothing would get done.

the market has helped the price of oil go high & stay there. with stocks iffy, oil & other commodities are doing well.

When we say Oil is at $x, aren't we quoting the market driven price? The price of anything in commodities is driven by speculation based on production statistics and general news and theory.

That being said, please ignore all this evil and consume, reproduce and sleep! More guitars please! :ROTF:

[GodOfRhythm]

A barrel of oil is cheaper than a barrel of drinkable water.

Take it OFF the commodities market to stop the speculating and all this crap'll be redundant.

EDIT: LOL I posted this without reading any other posts, so looks like Aron and me are on the same wavelength.

[yard dawg]

I think its exactly where they want it. Yes we may be in recession but people are still buying gas. People still drive there SUVs and Hummers. I see it everyday. People whine about it but they still buy it everyday and the oil cartels know this. We got to get free from the Oil teat.

[fett]

Nooooooo I tried walking and buses recently. I tried to be Green. But, I love my van. It is a treat to drive. Yes. I am a bad person. But, I'll make up my "Sin" in other ways. How about the fact that I buy very few things new? I buy "Used" stuff. Just about everything I own has already made an impact. I have been doing this for 35 years. I think I am so far ahead of the game and all I was doing was being cheap.

[Bengal]

Nooooooo I tried walking and buses recently. I tried to be Green. But, I love my van. It is a treat to drive. Yes. I am a bad person. But, I'll make up my "Sin" in other ways. How about the fact that I buy very few things new? I buy "Used" stuff. Just about everything I own has already made an impact. I have been doing this for 35 years. I think I am so far ahead of the game and all I was doing was being cheap.

So your part of the problem, not the solution...

We need to drive period. It could be Hummers or a Ford Festiva, we need to drive because everything is so spralled out. We will always be slaves to our cars...

But I agree with RacerX. Another energy crisis and those big cars with V8's will start going cheap secondhand. It's a buyers market then...

[Nuclear Vampire]

The province I live in is a net exporter of oil and we are paying about $3.72/gallon when I factor in the exchange rate so don't feel so bad. The higher oil goes the higher the Canadian dollar goes and the cheaper all of those cool American built guitars and amps become. The appreciation of the Canadian dollar has probably offset the Jackson Custom Shop price increase by now. So high oil prices = cheaper guitars and that is a good thing.

Here in Manitoba it's @ $1.09 per litre. That's $4.04 per gallon at the current exchange rate. $1.09 converts to .73 Euros or .55 Pounds.

[fett]

Bengal. Isn't this all about your Carbon Footprint? I buy used meat; used clothes; used cars; used guitars; used pot and pans; used funiture; used stereo stuff; used just about anything you can mention and you begrudge me the pleasure of driving my Van? I am on my high horse. How dare you say that I haven't paid my dues?

[Bengal]

Bengal. Isn't this all about your Carbon Footprint? I buy used meat; used clothes; used cars; used guitars; used pot and pans; used funiture; used stereo stuff; used just about anything you can mention and you begrudge me the pleasure of driving my Van? I am on my high horse. How dare you say that I haven't paid my dues?

You misunderstood me, which is fine it was mostly sarcastic anyway...

Drive your van. I have no problem with that at all...

My sarcastic comment was more that you are not helping the economy buying used stuff. That's where the comment was based...

Lame joke, I know...

[fett]

Why would I, as just fett trying to survive, pay those Capitalist Pigs? I come from a Commie family. Really.