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World Finance Watch
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<blockquote data-quote="CaryP" data-source="post: 24551" data-attributes="member: 34"><p><strong>Re: World Finance Watch</strong></p><p></p><p>Hi Sue,</p><p></p><p>I'll put my answers in bold underneath your questions.</p><p></p><p><strong>Why are the gas prices so high?</strong></p><p><strong></strong></p><p><strong></strong>I feel like I'm not getting the truth from Fox or the mainstream media. I've heard the following:</p><p> </p><p> 1. Price per barrel of oil has gone up, but it's going down, but it's going to double.</p><p> </p><p><strong>Yes, global demand has been rising, while production has been maxed out. Despite claims by OPEC countries of increasing their production, they are maxed out. They can not pump any more per day. The faster they pump it, the faster it will run out, and the less they'll get out of the ground. As I said before $40/bbl will look cheap in the future.</strong></p><p></p><p> 2. The refineries are all at least 20 years old, and not running to capacity, but they are running fine and they're running at 100%</p><p> </p><p><strong>One of the problems is that our refineries are old. No one wants a new refinery near them, the NIMBY (not in my back yard) phenomenon. They are running at or near capacity, and there have been periods where refineries along the Gulf Coast almost ran out of producable crude, most of which is imported from Venezuela. Hugo Chavez, the Marxist that hates us, remember him? He's the leader there. So no favors from them.</strong></p><p></p><p> 3. We are not drilling to capacity in Alaska, we are drilling to capacity in Alaska.</p><p> </p><p><strong>The ANWR (Artic National Wildlife Refuge) can now be drilled. Analysis I have read shows that at maximum withdrawal of all available known oil there would take care of current U.S. demands for 18 mos. Under typical conditions, where some some of the oil is left in the ground, we get about 10 mos. of U.S. energy. So, while the ANWR drilling is good for politicians wanting to appear as though they're doing something, it's just B.S. Nope, ANWR is no solution. And it will take about 7 years to get whatever oil they do find on line. Not gonna be helping us anytime soon. There have been no major / significant oil field discoveries with major proven reserves in a good number of years. Cuba supposedly found a "sizable" field off their coast recently, but reserves are yet to be proven. Bottom line, the world is running out of "cheap" oil and gas. I didn't say out of ALL oil and gas, just the cheap variety we're spoiled on. There will still be oil and gas, but it gets more expensive from here. </strong></p><p></p><p> 4. The state tax is too high, the state tax has nothing to do with it and is just a few cents a gallon.</p><p> </p><p><strong>I don't know what the state gasoline tax is in your area. The last spot price I saw for gasoline this past week was $1.74, while the pump price here was $2.15. The latest statistics that I've seen show the Federal gas tax is 18.4 cents/gallon. The difference is the state gasoline tax. That leaves about 23 cents per gallon for Louisiana gas tax. </strong></p><p></p><p> 5. The supply of oil is too high, the supply of oil is low and we are using our reserves.</p><p> </p><p><strong>At any given point, the inventory of crude oil can be up or down. There is a weekly report of inventory levels for crude oil, disstilates, gasoline, etc. It's not so much how much inventory is on hand at a particular point in time. It has more to do with trends in demand vs. trends in production. As far as I know, the Strategic Petroleum Reserves (SPR) have not been touched under the Bush admin. They were being filled, and I don't know if that was ever completed, or if the program is still underway.</strong></p><p></p><p> 6. The demand for oil/gas has gone up, no it's gone down.</p><p> </p><p><strong>Demand has gone through the roof. The US has not reduced it's demand for energy, while China, India and "developing" nations have increased their demand significantly. A few years ago I saw a comparison of how much energy the U.S. consumes per barrel/ person/ year vs. Japan and developing countries. The U.S. at the time was consuming about 23 or so barrels of oil per year, per person. Japan was at about 18 barrels. China was less than 5. In 2000, the U.S. was consuming 25% of all energy produced in the world, while only having about 4% of total world populace. We're energy hogs. Demand has gone through the roof. China has gone from being energy self-sufficient just a few years ago, to being the second largest importer, behind the U.S. only. That's a huge jump in a relative "blink of an eye."</strong></p><p><strong></strong></p><p><strong>Cheap energy is over. Get used to it.</strong></p><p></p><p> 7. We're going to run out of drillable oil next year, We're going to have oil forever.</p><p> </p><p><strong>When you say "drillable" that's an entirely different context. There's "drillable" oil all over the planet, but at what cost is the problem. The models today are based on recovery costs (cost of getting oil out of the ground) at $9 to $11 per barrel. Let's say that recovery costs go to $35 per barrel because of the depth that a well would have to be drilled, technology involved, environmental concerns, etc. You got a major cost hike. Like I said, the "cheap" energy is over. There will be energy available, but it will become increasingly more expensive. Read up on Hubbert's Peak or Peak Oil. It appears we've hit the downside of that wall.</strong></p><p></p><p> I know this all sounds extreme. Maybe I'm listening to extreme media. But everybody is saying something different, calling the otherside fools and extremists.</p><p> </p><p><strong>You're not listening to extreme media. It's just the propaganda machine that has a lot to do with confusing, misdirecting and confounding the general populace. Instead of just being honest, the PTB keep the sheeple in the dark with sound bites and pseudo reality. The thought is that most sheeple would panic and can't handle the truth. Maybe the PTB are right on that one. </strong></p><p><strong></strong></p><p><strong></strong> Further, for anyone that says "just reduce your consumption" and you'll be fine. I cannot ride my bike to work and neither can many of the people I know. Living in a rural community you cannot just quit your job and find something close to home because the jobs aren't out there. You cannot just say "I'll take the bus or the subway or carpool." So, you have to pay the price at the pump so you can make money to pay the price at the pump!</p><p> </p><p> <strong>Mom had to pay $2.32 a gallon in Central Illinois, a total price of $28.00 to fill the tank on her midsized sedan. Last summer, it was $20 a fill per week. $8/wk, $32/mo may not sound much to some... but it effects us. </strong></p><p><strong></strong></p><p><strong>I don't want to know what to do ... I just want to know why.</strong> </p><p></p><p><em>I think you know why by now, eh Susan? It's just that's where we are in the history of the planet. It's a "new world" we're living in. We're just passed "life as we knew it" a few years ago. I hope this helps, even though the answers are not the "happy shiney" variety.</em></p><p><em></em></p><p><em>Cary</em></p><p><em></em></p></blockquote><p></p>
[QUOTE="CaryP, post: 24551, member: 34"] [b]Re: World Finance Watch[/b] Hi Sue, I'll put my answers in bold underneath your questions. [b]Why are the gas prices so high? [/b]I feel like I'm not getting the truth from Fox or the mainstream media. I've heard the following: 1. Price per barrel of oil has gone up, but it's going down, but it's going to double. [b]Yes, global demand has been rising, while production has been maxed out. Despite claims by OPEC countries of increasing their production, they are maxed out. They can not pump any more per day. The faster they pump it, the faster it will run out, and the less they'll get out of the ground. As I said before $40/bbl will look cheap in the future.[/b] 2. The refineries are all at least 20 years old, and not running to capacity, but they are running fine and they're running at 100% [b]One of the problems is that our refineries are old. No one wants a new refinery near them, the NIMBY (not in my back yard) phenomenon. They are running at or near capacity, and there have been periods where refineries along the Gulf Coast almost ran out of producable crude, most of which is imported from Venezuela. Hugo Chavez, the Marxist that hates us, remember him? He's the leader there. So no favors from them.[/b] 3. We are not drilling to capacity in Alaska, we are drilling to capacity in Alaska. [b]The ANWR (Artic National Wildlife Refuge) can now be drilled. Analysis I have read shows that at maximum withdrawal of all available known oil there would take care of current U.S. demands for 18 mos. Under typical conditions, where some some of the oil is left in the ground, we get about 10 mos. of U.S. energy. So, while the ANWR drilling is good for politicians wanting to appear as though they're doing something, it's just B.S. Nope, ANWR is no solution. And it will take about 7 years to get whatever oil they do find on line. Not gonna be helping us anytime soon. There have been no major / significant oil field discoveries with major proven reserves in a good number of years. Cuba supposedly found a "sizable" field off their coast recently, but reserves are yet to be proven. Bottom line, the world is running out of "cheap" oil and gas. I didn't say out of ALL oil and gas, just the cheap variety we're spoiled on. There will still be oil and gas, but it gets more expensive from here. [/b] 4. The state tax is too high, the state tax has nothing to do with it and is just a few cents a gallon. [b]I don't know what the state gasoline tax is in your area. The last spot price I saw for gasoline this past week was $1.74, while the pump price here was $2.15. The latest statistics that I've seen show the Federal gas tax is 18.4 cents/gallon. The difference is the state gasoline tax. That leaves about 23 cents per gallon for Louisiana gas tax. [/b] 5. The supply of oil is too high, the supply of oil is low and we are using our reserves. [b]At any given point, the inventory of crude oil can be up or down. There is a weekly report of inventory levels for crude oil, disstilates, gasoline, etc. It's not so much how much inventory is on hand at a particular point in time. It has more to do with trends in demand vs. trends in production. As far as I know, the Strategic Petroleum Reserves (SPR) have not been touched under the Bush admin. They were being filled, and I don't know if that was ever completed, or if the program is still underway.[/b] 6. The demand for oil/gas has gone up, no it's gone down. [b]Demand has gone through the roof. The US has not reduced it's demand for energy, while China, India and "developing" nations have increased their demand significantly. A few years ago I saw a comparison of how much energy the U.S. consumes per barrel/ person/ year vs. Japan and developing countries. The U.S. at the time was consuming about 23 or so barrels of oil per year, per person. Japan was at about 18 barrels. China was less than 5. In 2000, the U.S. was consuming 25% of all energy produced in the world, while only having about 4% of total world populace. We're energy hogs. Demand has gone through the roof. China has gone from being energy self-sufficient just a few years ago, to being the second largest importer, behind the U.S. only. That's a huge jump in a relative "blink of an eye." Cheap energy is over. Get used to it.[/b] 7. We're going to run out of drillable oil next year, We're going to have oil forever. [b]When you say "drillable" that's an entirely different context. There's "drillable" oil all over the planet, but at what cost is the problem. The models today are based on recovery costs (cost of getting oil out of the ground) at $9 to $11 per barrel. Let's say that recovery costs go to $35 per barrel because of the depth that a well would have to be drilled, technology involved, environmental concerns, etc. You got a major cost hike. Like I said, the "cheap" energy is over. There will be energy available, but it will become increasingly more expensive. Read up on Hubbert's Peak or Peak Oil. It appears we've hit the downside of that wall.[/b] I know this all sounds extreme. Maybe I'm listening to extreme media. But everybody is saying something different, calling the otherside fools and extremists. [b]You're not listening to extreme media. It's just the propaganda machine that has a lot to do with confusing, misdirecting and confounding the general populace. Instead of just being honest, the PTB keep the sheeple in the dark with sound bites and pseudo reality. The thought is that most sheeple would panic and can't handle the truth. Maybe the PTB are right on that one. [/b] Further, for anyone that says "just reduce your consumption" and you'll be fine. I cannot ride my bike to work and neither can many of the people I know. Living in a rural community you cannot just quit your job and find something close to home because the jobs aren't out there. You cannot just say "I'll take the bus or the subway or carpool." So, you have to pay the price at the pump so you can make money to pay the price at the pump! [b]Mom had to pay $2.32 a gallon in Central Illinois, a total price of $28.00 to fill the tank on her midsized sedan. Last summer, it was $20 a fill per week. $8/wk, $32/mo may not sound much to some... but it effects us. I don't want to know what to do ... I just want to know why.[/b] [i]I think you know why by now, eh Susan? It's just that's where we are in the history of the planet. It's a "new world" we're living in. We're just passed "life as we knew it" a few years ago. I hope this helps, even though the answers are not the "happy shiney" variety. Cary [/i] [/QUOTE]
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