today #2 diesel at the cheap station in town now $5.05 9/10 gallon


diesel #2 will be approaching close to $6.00 gallon by summer

within in 60 months or less diesel fuel =$ 10.50 - $ 11.00 gallon

the oil company's are loving this !!

GW Bush is looking forward to a handsome retirement pkg his energy positions are looking good in the family's mega $$ oil, gas, energy , equity portfolio

over the next 5 years inflation is expected to hit double digit's
easy 10 % + + = inflation

oil will be at well over 200.00 dollars a barrel

time to gear up for the extreme tough times ahead

 

#2 diesel today in New York $5.39

 

Time to END the special interests control of our oil resources.

Time to get busy with drilling the tundra and more offshore rigs where LARGE pools of oil exist.

I would really like to see us do away with ALL foreign oil dependence, stop refining for foreign interests, see how they like fuel shortages - might rank up there with how we like high prices, eh? Without the US refineries the ME countries would have NO fuels, no one else refines for them.

Time to hold them hostage with higher refining costs to offset what is happening to the US and the world with the speculators driving all this over the top.

CD

 

x2............

 

Time to stick it to the man and buy a performance electric car and only drive the diesel to tow with (which is a few times a week ) but still there out ther mid size suvs and trucks with 250 mile range that do 100mph tesla makes a 0-60 in under 4 sec and a top end of 130 mph and over a 200 mile range thats my next vehicle

 

Ah, so VERY happy I'm not farming or logging anymore.

I bought a converted vehicle from an LP dealer and tho it doesn't get the same mileage, the price of fuel is MUCH cheaper, so it offsets the cost of operation. Now I'm gonna go inta the wind power biz, cuz Lord knows we gots plenty of Cheney air up this way.

 

Even with the high prices for diesel. fertilizer and everything else it isn't bad at all since farm products are at all time highs.
I made more in the last two years than the ten before combined and expect this year to be good as well.
Finally after all these years of busting my azz it's great to finally get paid for it...

 

Don't be so quick to blame the oil companies. The truth is that our wonderful government is actually to blame. Over run by special interest groups run by big business. We have oil right here at home but we are not allowed to drill because we may interupt some animals daily life.

Read on:

I know it is a long article, but it is very interesting. When are the American people going to say "enough"!


*Sometimes the Congressional hearings get to the bottom line!*


Earlier today, the Senate Judiciary Committee summoned top executives
from the petroleum industry for what Chairman Pat Leahy thought would be
a politically profitable inquisition. Leahy and his comrades showed up
ready to blame American oil companies for the high price of gasoline,
but the event wasn't as satisfactory as the Democrats had hoped.

The industry lineup was formidable: Robert Malone, Chairman and
President of BP America, Inc.; John Hofmeister, President, Shell Oil
Company; Peter Robertson, Vice Chairman of the Board, Chevron
Corporation; John Lowe, Executive Vice President, Conoco Philips
Company; and Stephen Simon, Senior Vice President, Exxon Mobil
Corporation. Not surprisingly, the petroleum executives stole the show,
as they were far smarter, infinitely better informed, and much more
public-spirited than the Senate Democrats.

One theme that emerged from the hearing was the surprisingly small role
played by American oil companies in the global petroleum market. John
Lowe pointed out:

I cannot overemphasize the access issue. Access to resources is severely
restricted in the United States and abroad, and the American oil
industry must compete with national oil companies who are often much
larger and have the support of their governments.

We can only compete directly for 7 percent of the world's available
reserves while about 75 percent is completely controlled by national oil
companies and is not accessible.

Stephen Simon amplified:

Exxon Mobil is the largest U.S. oil and gas company, but we account for
only 2 percent of global energy production, only 3 percent of global oil
production, only 6 percent of global refining capacity, and only 1
percent of global petroleum reserves. With respect to petroleum
reserves, we rank 14th. Government-owned national oil companies dominate
the top spots. For an American company to succeed in this competitive
landscape and go head to head with huge government-backed national oil
companies, it needs financial strength and scale to execute massive
complex energy projects requiring enormous long-term investments.

To simply maintain our current operations and make needed capital
investments, Exxon Mobil spends nearly $1 billion each day.

Because foreign companies and governments control the overwhelming
majority of the world's oil, most of the price you pay at the pump is
the cost paid by the American oil company to acquire crude oil from
someone else:

Last year, the average price in the United States of a gallon of regular
unleaded gasoline was around $2.80. On average in 2007, approximately 58
percent of the price reflected the amount paid for crude oil. Consumers
pay for that crude oil, and so do we.

Of the 2 million barrels per day Exxon Mobil refined in 2007 here in the
United States, 90 percent were purchased from others.

Another theme of the day's testimony was that, if anyone is "gouging"
consumers through the high price of gasoline, it is federal and state
governments, not American oil companies. On the average, 15% percent of
the cost of gasoline at the pump goes for taxes, while only 4%
represents oil company profits. These figures were repeated several
times, but, strangely, not a single Democratic Senator proposed
relieving consumers' anxieties about gas prices by reducing taxes.

The last theme that was sounded repeatedly was Congress's responsibility
for the fact that American companies have access to so little petroleum.
Shell's John Hofmeister explained, eloquently:

While all oil-importing nations buy oil at global prices, some, notably
India and China, subsidize the cost of oil products to their nation's
consumers, feeding the demand for more oil despite record prices. They
do this to speed economic growth and to ensure a competitive advantage
relative to other nations.

Meanwhile, in the United States, access to our own oil and gas resources
has been limited for the last 30 years, prohibiting companies such as
Shell from exploring and developing resources for the benefit of the
American people.

Senator Sessions, I agree, it is not a free market.

According to the Department of the Interior, 62 percent of all on-shore
federal lands are off limits to oil and gas developments, with
restrictions applying to 92 percent of all federal lands. We have an
outer continental shelf moratorium on the Atlantic Ocean, an outer
continental shelf moratorium on the Pacific Ocean, an outer continental
shelf moratorium on the eastern Gulf of Mexico, congressional bans on
on-shore oil and gas activities in specific areas of the Rockies and
Alaska, and even a congressional ban on doing an analysis of the
resource potential for oil and gas in the Atlantic, Pacific and eastern
Gulf of Mexico.

The Argonne National Laboratory did a report in 2004 that identified 40
specific federal policy areas that halt, limit, delay or restrict
natural gas projects. I urge you to review it. It is a long list. If I
may, I offer it today if you would like to include it in the record.

When many of these policies were implemented, oil was selling in the
single digits, not the triple digits we see now. The cumulative effect
of these policies has been to discourage U.S. investment and send U.S.
companies outside the United States to produce new supplies.

As a result, U.S. production has declined so much that nearly 60 percent
of daily consumption comes from foreign sources.

The problem of access can be solved in this country by the same
government that has prohibited it. Congress could have chosen to lift
some or all of the current restrictions on exportation and production of
oil and gas. Congress could provide national policy to reverse the
persistent decline of domestically secure natural resource development.

Later in the hearing, Senator Orrin Hatch walked Hofmeister through the
Democrats' latest efforts to block energy independence:

HATCH: I want to get into that. In other words, we're talking about
Utah, Colorado and Wyoming. It's fair to say that they're not considered
part of America's 22 billion barrels of proven reserves.

HOFMEISTER: Not at all.

HATCH: No, but experts agree that there's between 800 billion to almost
2 trillion barrels of oil that could be recoverable there, and that's
good oil, isn't it?

HOFMEISTER: That's correct.

HATCH: It could be recovered at somewhere between $30 and $40 a barrel?

HOFMEISTER: I think those costs are probably a bit dated now, based upon
what we've seen in the inflation...

HATCH: Well, somewhere in that area.

HOFMEISTER: I don't know what the exact cost would be, but, you know, if
there is more supply, I think inflation in the oil industry would be
cracked. And we are facing severe inflation because of the limited
amount of supply against the demand.

HATCH: I guess what I'm saying, though, is that if we started to develop
the oil shale in those three states we could do it within this framework
of over $100 a barrel and make a profit.

HOFMEISTER: I believe we could.

HATCH: And we could help our country alleviate its oil pressures.

HOFMEISTER: Yes.

HATCH: But they're stopping us from doing that right here, as we sit
here. We just had a hearing last week where Democrats had stopped the
ability to do that, in at least Colorado.

HOFMEISTER: Well, as I said in my opening statement, I think the public
policy constraints on the supply side in this country are a disservice
to the American consumer.

The committee's Democrats attempted no response. They know that they are
largely responsible for the current high price of gasoline, and they
want the price to rise even further. Consequently, they have no
intention of permitting the development of domestic oil and gas reserves
that would both increase this country's energy independence and give
consumers a break from constantly increasing energy costs.

Every once in a while, Congressional hearings turn out to be informative.

 

I run B99. So those ME countries don't get money from me.

 

there is so much oil, that investment banks have purchased huge storage tanks and fleets of tankers to store oil that was headed for the market, so they can sell it at a later date, when they believe the price will be much higher. it's called oil hoarding, and things will not change because of some new domestic drilling. would you gamble at a casino, if you thought the tables and slots were rigged?

 

They are rigged.They call it "house advantage'' though. Very few games are fair.

 

Oil hoarding is exactly what China is doing these days. They are buying up all the diesel they can and are sitting on it. In the last year they've tried buying Canadian oil companies just for such purpose.

 

Increasing domestic supply will do nothing to bring down oil prices, it will still be sold at the world market price.
If the US domestic supply increases enough to drop world prices OPEC will just cut production to bring them back up.
There is no way to drill our way out of the problem, the only solution is alternatives to petroleum.

 

Unless, of course, we have all domestic supply stay domestic and not able to be sold anywhere except to our North American allies. That way, if OPEC cuts production, it wouldn't matter to us, since we wouldn't be as reliant or reliant at all on their oil.

 

At least then we'll keep the profits here as opposed to paying it out to countries who wish us harm.