Why was the oil thread closed?
 

I wanted to add that there is no real easy oil anymore, as in light sweet crude. I do plenty of research for investments. It is funny that everyone gets mad at the oil companies and the Arabs. First, the federal government makes/takes more money from every gallon of gas/diesel sold than the oil companies make in profits. Second, we only get around 10-15% of our oil from the middle east. Third, when adjusted for inflation, we really shouldn't complain about the price of fuel. I don't like dropping $120 to fill up, but we, as Americans, are spoiled compared to most of the free world as far as pricing is concerned.

If you want to ride the tide of higher oil prices, some good investments and money are to be had in Canada. It's probably the dirtiest form of crude, but there are trillions of barrels of it mixed in the sand/mud at Athabasca outside of Alberta, Canada.

Someone who actually seems to know what he's talking about. Amazing! ;)

Thanks... I try...:cool:

Still no answer on why the other thread was closed???

I would imagine it got too political and was either closed or moved.

I would also guess that it was probably getting political or that it was fuel related. There are forums on here for both subjects but everyone seems to just put it where they want to.

trik396:

Hang on and let me go check on that for you. I didn't see the thread.

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John_P

trik396:

I did not see any oil related threads in our "Moderated Threads Forum".
I have posted to the other Moderators for you to see if we can run this down.

Trik, do you remember the title of the thread or who started it? Thanks.

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John_P

Isn't BP in the process of building a new refinery to process that sand/mud oil?

I think he means the one called this will make you mad (oil related)

There are several companies that are currently building new plants up there. The oilsand needs to be partially refinied onsite and then shipped via pipeline to upgrading plants. Extracing oil from sand is an EXPENSIVE (and dirty) business. Exxon owns a majority of the shares of the biggest plant up there:


http://www.syncrude.ca/users/folder.asp

Check out the pics: http://www.syncrude.ca/users/folder.asp?FolderID=5703

I spend a few days a month there.

I agree with this post.

hes another little tid bit of information over 80% of the oil the US produces gets exported

firstly, america has DECREASED our rate of consumption of fuel over the past few years, big oils verbal response? well then we will just cut production. ya sounds like there lookin out for us:( second, there hasnt been a new refinery built in the US in over 30 years, why? big oil claims enviromentalists wont let them. Edit they could build one anytime they wanted but they dont obviously to control production. AMAZING the koolaid people drink, every company that wants to increase profits DECREASES prices to increase volume of sales(just look at walmart recently, they dropped prices storewide and as a result had the biggest quarter of profit in there history)if u like paying 3.80 a gallon for diesel which is nothin but the crap left over from refining gas then all i can say is crack cocaine isnt the answer. even with a barrel of oil costing 150 dollars diesel should only be 1.50 a gallon and big oil would still make billions. its a difference between a WANT and a NEED, take oil away from our economy and this countries economy dies inside of a week. i will leave u guys with this... there are only 6 companies that control ALL the oil in and out of this country, what if there were only 6 construction companies that controlled ALL the construction in the US, how high do u think there BIDS would be? late

I just talked to my financial advisor and asked him about oil. He said 2 things have cause oil to go up,1) No new factories since the 70's and 80' to produce the oil. He says they would have to spend close to $3m to get the plans laid out and what emission control devices are needed. $3M just to get plans for the emissions control devices! Now add enviroment effects planning, more multi-million dollar plans, now build it. And the emissions devices are not cheap.

But the biggest thing is the american dollar has dropped value. All oil is done in the dollar. Europe is enjoying this as the exchange rate is in there favor and their prices are starting to drop. Now I am not going to say why the dollar is dropping cause it is political.

I hope I shed some light on what I have learned.

Jon

Through all of your research, have you come across any info regarding the sinking dollar, and futures speculation as a major influence in the prices we pay at the pump?

I think there is plenty of oil. It's market manipulation. Before Bush took office oil was around $30 a barrel. I just don't buy into your argument that the bottom fell out of the supply in such a short period of time. Bush has done a great job of shaking things up and destabilizing the middle east and the market in general. With uncertainties in the future supply (read waging war in oil zones), speculation on future prices go through the ceiling. Add to that the free fall value of the dollar and we get to where we're at now.