Plus Iran is trying to drive the price of oil Way High, how bad is it going to get
I am glad I have a 4 cylinder Vehicle......
2007-01-15 15:39:48 · 9 answers · asked by AD 3 in Politics & Government ➔ Politics
I dont have a source, but I do drive a high performance 4 Cylinder Vehicle, and it will also burn E-85, that stuff burns clean
2007-01-15 15:41:24 · update #1
anyone who says no is a fool, and probably drives a navigator
2007-01-15 15:44:23 · answer #1 · answered by bush deathgrip 2 · 1⤊ 0⤋
Don't worry too much. Producers of oil have, historically, been better at spending their oil money than they are at producing it.
If Iran cuts its oil production, which is pure BS, it will very shortly be facing bankruptcy (what a "weapon" that is). The same is true of every other major oil producing nation, whose economies are walking a tightrope every day. They talk a lot, but need the money badly so, regardless of the grand press releases, there has never been, and never will be, a true coincidence of objectives among them.
The next time that OPEC announce one of their grand cutback pronouncements, watch the oil markets. The day afterwards, the oil price will move up marginally due to speculation. Two days later things will be as if nothing has happened. As a wise man once said "Talk is cheap, but it takes money to buy whiskey".
The main issue is that oil is their only real source of income and they cannot afford not to pump it. And, the lower the price, the more they have to pump to meet their debts. That is why the price of oil is up and down like a bride's nightgown!
Look at Mexico. An "associate member" of OPEC, whatever that means. Mexico has to pump every single barrel it can pump to make ends meet. In the next few years Mexico will not be able to maintain their current levels and is desperate to increase their output. And Mexico will ever cut production? A dream! And a very common one, too.
As an afterthought, Sheik Yamani, the Saudi oil minister in the seventies and early eighties had it about right. He said, "The stone age did not end because we ran out of stones, and the oil age will not end because we ran out of oil".
He could have added the bronze age, the iron age, etc. to his list, had he wanted to.
2007-01-15 15:57:06 · answer #2 · answered by acablue 4 · 1⤊ 0⤋
Many geologists think we have hit Peak Oil. Four of the biggest fields in the world, Ghawar, Daqing, Cantarell, and Burgan, are declining or holding steady. Already third world nation people are not getting any oil, leading to such spectacles as Nigerians siphoning off pipelines and occasionally blowing up because of it. This is the reason for low oil prices now. Eventually prices are going to rise dramatically. There is no way out. Oil is a finite resource and we are running out of cheap oil.
2007-01-15 15:45:36 · answer #3 · answered by alnitaka 4 · 2⤊ 0⤋
They will certainly try. I think that the Iran situation is what is most likely to cause a price spike soon. Bush knows we can't sit idly by while Iran gets nukes. 08 is an election year, after that there is no guarantee that a Republican will be in the White House & a Dem is unlikely to use military force if our national intersts are involved. I think that something will be done in 07. Just my guess.
2007-01-15 16:44:37 · answer #4 · answered by yupchagee 7 · 0⤊ 0⤋
you're properly suited. OPEC is attempting tocontinual the cost of oil and their obscene income returned up. You did not have self belief the liberals whilst they whined and complained on the subject of the US oil businesses did you? OPEC is the wrongdoer and consistently has been. If the country drills for it fairly is very own oil and boosts our production, we could ruin the backs of OPEC as quickly as and for all. whilst they decrease production, we could strengthen production. OPEC could quickly end those video games which harm actual human beings around the worldwide. With the undesirable worldwide financial device this pass might returned hearth on OPEC. we can purely wish at this element. that could save fees low.
2016-10-31 05:42:02 · answer #5 · answered by ? 4 · 0⤊ 0⤋
Gas prices should stay roughly where they are over the next three months but a lot depends on the strength of the dollar too.
2007-01-15 15:44:41 · answer #6 · answered by Bart S 7 · 0⤊ 0⤋
I just filled my wifes car today. I paid $1.89 a gallon. I also seen some stations at $1.95. Gas is going to go up next month guaranteed.
2007-01-15 15:56:29 · answer #7 · answered by Anonymous · 0⤊ 0⤋
isnt it summer yet?prices have been going up and the price of oil has been going down,go figure.
2007-01-15 15:44:32 · answer #8 · answered by ? 7 · 0⤊ 0⤋
YES! YES! YES!!!use public transport or go the china way (cycle)
2007-01-15 15:48:25 · answer #9 · answered by mrinal1976 3 · 0⤊ 0⤋