Off shore drilling?

[Old Noob]

But you said:

The main reason for the increase in oil prices is the emergence of China as the #1 consumer of OPEC oil. For decades the US was #1 and thus had more leverage with OPEC. We don't have that any longer. Within the last 5 years DEMAND went up sharply as a result of China's economy growing by leaps and bounds. Anyone with a clue will tell you that's the biggest reason for the surge in crude oil prices.

That's not really supportable.

[1bad65]

What do you think the biggest reason is?

[Old Noob]

What do you think the biggest reason is?

The oil business is not my area of expertise so I won't presume to use a bunch of correlative analysis to justify an uneducated guess at what the biggest reason is. My point is really that, unless you're an expert, you shouldn't be calling people clueless. People are entitled to their own opinion and you are entitled to yours. People are not, however, entitled to their own facts, and stating opinions as fact while belittling others doesn't really contribute to a conversation. But what the &%*# do I know?

[1bad65]

Thanks for the honest answer. If I came off as condescending, I'm sorry. I ask if people know this because I just recently was informed of that fact myself. And they only recently became the #1 consumer of OPEC oil so I assume alot of people may not be aware of that fact.

[The Willow Sword]

Ibad69 opwned.


Peace,TWS

[1bad65]

I pointed out a fact. There is disagreement as to how much of a factor it is. Hardly ownage.

[Old Noob]

I pointed out a fact. There is disagreement as to how much of a factor it is. Hardly ownage.

I have to admit 1bad is right. He obviously didn't take any of my last message to heart if he's already calling you a moron. If he'd been owned he might have the introspection to see that the incendiary language made whatever apology he gave previously moot.

[1bad65]

I have to admit 1bad is right. He obviously didn't take any of my last message to heart if he's already calling you a moron. If he'd been owned he might have the introspection to see that the incendiary language made whatever apology he gave previously moot.

I apologized to those being rational. Not to those who aren't contributing to the debate, but taking potshots at those who are.

[Wood Dragon]

There's about 5 Billion barrels of light sweet (iow, does not need a great amount of refining) crude under South Dakota, in the Bakken Formation.

[Becca]

Yes I did. They are the #1 consumer of OPEC oil. OPEC produces CRUDE OIL.

Get it now?

So wch is it that made the Chinese such a diving force ? Thier oil consumption r thier booming economy? You said oil in post#14 and thier economy in post#70.

I don't disagree with what you are saying. I am disagreeing with your waffling.

[Becca]

Light, sweet crude for July delivery fell $4.75 to settle at $131.93 a barrel on the New York Mercantile Exchange.

Strong demand from China's booming economy has helped support crude prices. A change in the government's policy of controlling gas and diesel prices could mean higher gas prices for Chinese consumers, undercutting demand.

I don't think the price of crude is the reason for the gas prices doubling in the last 5 years or so. If it was, then Europe's fuel priced would have doubled as well. They have gon up, but only by about 20%. U.S. prices have gone up 5 tims as much. I think the current trend o blaming the price of cude oil is just that, a trend. It's a seamingly easy answer for a problem that in't actually a problem. The world economy is cyclonic. Just as Black Tuesday started off the Great Depression, but didn't actually cause it, the price of crude and China's economic boom are herolding in a new depression but they didn't cause it. Unchecked growth since the end of WWII did. This has been comming for a long, long time nd thier ain't no way to stem the tide. Nor should we try. Denying the inevitable doesn't make it go away. It just makes dealing with th after math more dificult.

[Becca]

I have to admit 1bad is right. He obviously didn't take any of my last message to heart if he's already calling you a moron. If he'd been owned he might have the introspection to see that the incendiary language made whatever apology he gave previously moot.

Na he took it to heart. He just hasn't figured out not to feed the trolls yet. You can usually get some good debates going with 1bad if the trolls don't rile him up.

[1bad65]

So wch is it that made the Chinese such a diving force ? Thier oil consumption r thier booming economy? You said oil in post#14 and thier economy in post#70.

I don't disagree with what you are saying. I am disagreeing with your waffling.

Their growing economy is why their oil consumption is growing. You do see the 2 are related, right?

[1bad65]

I don't think the price of crude is the reason for the gas prices doubling in the last 5 years or so.

Prices of Light Sweet Crude by year:

2002 - $18-25/barrell
2003 - $23-38/barrell
2004 - $32-52/barrell
2005 - $43-70/barrell
2006 - $58-76/barrell
2007 - $50-94/barrell
2008 - $88-130+/barrell

http://octane.nmt.edu/gotech/Marketplace/Prices.aspx

You sure about that?

If it was, then Europe's fuel priced would have doubled as well. They have gon up, but only by about 20%. U.S. prices have gone up 5 tims as much.

The difference in the pump price is due their astronomical gasoline taxes.

I think the current trend o blaming the price of cude oil is just that, a trend.

What do you think is the reason? And please don't say 'Big Oil' or 'The Rich'.

[sanjuro_ronin]

Prices of Light Sweet Crude by year:

2002 - $18-25/barrell
2003 - $23-38/barrell
2004 - $32-52/barrell
2005 - $43-70/barrell
2006 - $58-76/barrell
2007 - $50-94/barrell
2008 - $88-130+/barrell

http://octane.nmt.edu/gotech/Marketplace/Prices.aspx

You sure about that?




The difference in the pump price is due their astronomical gasoline taxes.



What do you think is the reason? And please don't say 'Big Oil' or 'The Rich'.

You know, stats are funny, when did the Iraq Invasion/war/Occupation start?