This is capitalism at it's finest .......... the oil companies are ALL posting record profits !! Why you ask .............because it is going to the highest bidder EUROPE !!!! You think our fearless leader would release some of the national reserves to cut these goons off at the knees like Clinton did but that just aint gonna happen . I'm sure alot of people will get ticked off but you can hide your head in the sand and ignore it but the Bush family has been on their knees for years with the Saudi's . $$$$$$ that is no bull look at the facts and tell me I'm crazy ........ Saudi's have BILLIONS invested through Bush family holdings in ... defense ..... hmmmmmmm can you say Iraq ??? Citigroup the largest financial institution in our country is owned by who ........... Saudi Arabian investors and the list goes on and on . I am not a bleeding heart liberal by any respect but the Bush corporate mafia is absolutely screwing us blind !!!! Funny how our economy went right down the crapper after 8 yrs of prosperity . Where the hell is Perot when you need him ????

 

What you are seeing now is the results of all those closed door sessions that Cheney had with the big oil companies..... No one know what went on in there but I bet he told them to build bigger vaults case we are going to help you ( and him) out. Thanks Dick......

 

The boom growth in China is a major factor driving up prices.

 

The Chinese can't be blamed anymore for every problem we have ........... the Chinese economy has slowed drastically and the prices are higher than ever . Just recently read how the Chinese heavy equipt manufacturers have massive surplus inventory laying around . Just how long before they infiltrate here with bottom dollar equipt ...............not long ,look at Northern Industrial Tools . This is our own creation , WE sat idly by while all of the American jobs were sent out to the cheapest labor markets we could find and just turned our heads . Where do you think Bin Laden came from ? Our CIA trained and recruited his forces during the wonderful Reagan era to fight the Soviets and now he has his scope on the U.S !!!! We need to take our country back from these thugs that are strangling the American taxpayer to death !!!!

 

whats that??...................sounds like crickets..................

 

I hate to say it, but it's not limited to the US. I just returned from a two week trip to Australia and I saw some prices for diesel there were .07-.10/ltr more than premium gas.

 

I pulled this off a report concerning the cost of diesel in California.

 

Here's an AP story just posted a while ago: http://news.yahoo.com/s/ap/20050808/.../oil_prices_28

Look at the spare production vs. the WORLDWIDE demand as listed in the article: 84 million barrels a DAY with 1.5 million in spare production. That's a mighty slim margin. And every fuel user, worldwide, IS GOING TO PAY FOR THAT. Any small disruption means that there's that much less production in reserve. If there's a number of disruptions that eliminate the spare production, then someone's not going to have any fuel. You want fuel, you pay for it - regardless of where you live.

MixerMan - this isn't just a US problem, so sorry, your little Bush family/Saudi connection doesn't hold much water. If it really does exist (which I don't believe), then it's helping us, not hurting us. Look at how much MORE the rest of the world is paying for fuel vs. the U.S., even at California's crazy prices.

 

truckjunkie, you are absolutly correct.

I work for a hedge fund, im a trader for the distressed asset division. We follow all kinds of commodities and treasuries and even Oil to make good decisions for the fund. while the Bush/saudi story sounds good and makes good sense it is not true at all. George bush WISHES he has that kind of leverage. fact is George is a mere puppet of the market. You think George and Bill and the whole Washington DC lot have power..........? NOT. The people who control the market have the real power. Supply and Demand and money managers have the power. One huge trade by the money market manager for charles schwab, or Merrill Lynch can move/ change/ upset/ the market. Bush, that bone head can barely, with the help of Greenspan, can only control interest rates that the Fed. lends to bankers on the overnight line. OOOHH LA LA
anyways if you want an education in market cycles PM me. Pure and simple. Supple and Demand.

Supply = 85.5 Million Barrels Per day P E R I O D. and it is at its maximum. Demand is 84MM. Saudi arabia only delivers 15% of our daily oil, so dont blame Them. Try Venezula, they give us 30 %. All major oil fields are pumping the maximum amount of water into their wells. They have to pump the water as the volume in the wells dries up. Think of a water bottle that is buldging and when you pull the spout up it rushes out, after the rush( oil rush) is over you have to put a heavier, more dense, fluid into the well to push up the oil to get it out. Anwer/ and all the old Oil wells that we( the world) get our oil from are 80% used up on average. So there is our supply. Now add in weather( tropical storm season, at any given time there are 10-30 off shore rigs shut down). Then add in US usage rises every month. Then add in China, and its fast grwoth economy, and europe, and then add in terrorism threats, and political instability in the third world(venezula and Russia) and you have High Demand for dwindling supply.

Oil at 100$ a barrell easily by mid 2006'. That is what we are hedging for our fund, and you can bet your bottom dollar 64$ a barrell for oil will be cheap in years to come so we are buying all we can.

Anyways, that is how I see it.

IN the not so distant future the Oil will go to the highest bidder. We are not always going to be the highest bidder, but then maybe oil will go to the biggest bully......? I say bullie away, nuke their A S S and take their Gas.

my .02$

 

I read that same article on MSN earlier...........ya it's all going overseas where they get double the price they get here . Only way this will ever work out I am afraid is to have govt controlled energy ........... Enron laid the basework for these crooks !!!

 

diesel is still 2.18 here. Gas is 2.28 and going up. A spoksman for Oklahoma oil had no comment when asked by API newsperson why so much difference in diesel fuel prices. You folks on the west coast are gettin' ripped big time. Remember that in '08...........JIM

 

Just filled up here for 2.21 /gal ................... station next to the house is ALWAYS 15 cents more a gallon than the station I go to with Premium Diesel for less ............alot of $$$$$$$ being made and it sure aint me !!!! At least it is below the price of gas so I don't get as ticked off when I fuel up .

 

Whether chevron is shut down for a week or not, fuel prices aren't going down.. The stations realize that people will pay it, because they have to. hy would they make less $$ on fuel when they don't have to. Get used to it, suck it up, and pay it.. You've gotta have fuel, and they know it.
Scott

 

It's a shame that its not just supply and demand. It's unregulated greed.

http://www.thepeninsulaqatar.com/Dis...5073023144.xml

Exxon Mobil's profits climb
Web posted at: 7/30/2005 2:31:44
Irving: Exxon Mobil Corp, the world's largest publicly traded oil company, reported a 32 per cent profit boost in the second quarter, to $7.64bn. Net income equalled $1.20 a share, compared to 88 cents a share. Sales were up 25 per cent to $88.6bn. The profit for the Irving branch of the Exxon Mobil Corp, Texas-based company, was the most in a second quarter in the company's 123-year history, Bloomberg financial news service reported. Exxon Mobil Chief Executive Lee Raymond, 66, is investing in new oil and gas fields in Africa and the Middle East as demand grows and output declines from older wells in Europe and North America.