Oil prices could hit 80 dollars in next two years: OPEC

[alkemical]

http://news.yahoo.com/news?tmpl=stor...e_050303134221

Oil prices could hit 80 dollars in next two years: OPEC

Thu Mar 3, 8:42 AM ET Business - AFP



KUWAIT CITY (AFP) - Prices of crude oil could surge to as high as 80 dollars a barrel within the next two years but such a level would not last long, OPEC (news - web sites)'s acting secretary general was quoted as saying.
"I can affirm that the price of a barrel of crude oil rising to 80 dollars in the near future is a weak possibility," Adnan Shehab-Eldin told Kuwait's Al-Qabas newspaper.


"But I cannot rule out (the possibility) of oil prices rising to 80 dollars a barrel within the next two years," he said on Thursday.
"If the oil price rises to this level for one reason or another -- for example, interruption of supplies from a producing nation by one to two million barrels a day -- it is not expected to continue for long," he said.
Shehab-Eldin said a price rise to between 50-60 dollars a barrel for a period of two years or more will inevitably boost investments to increase supplies and lead to a drop in demand, eventually reducing prices.
World oil prices were mixed Thursday after reaching four-month highs in New York and London the previous day amid a rise in US crude stocks and jitters over increased global demand.


New York's main contract, light sweet crude for delivery in April, fell 20 cents to 52.85 dollars a barrel in electronic dealing.
It had jumped 1.37 dollars to close at 53.05 dollars a barrel on Wednesday, the highest close since October 26.
In London on Thursday, the price of Brent North Sea crude oil for delivery in April gained 18 cents to 51.40 dollars a barrel.
Shehab-Eldin said it was in the interest of OPEC and other countries not to see "big and surprising spikes in oil prices, but a gradual balance."

[Rascal]

if the dollar keeps dropping its going to be 100 dollars a barrel.

[alkemical]

This could be our straw that breaks the back.

[RaiderH8r]

You mean we might consider building better infrastructure and investing in more domestic production? For shame...

[Bronco_Beerslug]

Originally Posted by RaiderH8r

You mean we might consider building better infrastructure and investing in more domestic production? For shame...

Or implement MPG requirements on new vehicles and invest our money in renewable energy instead of poking holes all over the planet looking for a limited, global polluting supply of oil.


Oil Charges Above $55 as Funds Pile In

[alkemical]

When our econ is based off of oil, and oil becomes not affordable, the cost of everything goes up.

[Rascal]

no way this country can switch off of oil in 10 years let alone 2. We can't afford it. Get ready to be #2 to China in about 5 years people...it's not going to be pretty either.

[Spider]

No wonder the Gas station Owner where I fuel was so Damn happy to see me this Morning .... Probably figures i will have to Morgage my house to buy Gas for my Pick up EFI 460 .... As it is now , I spend 85.00 to gas up both tanks

[alkemical]

I hear gas will go up .25/gal in the next 2 weeks

[Spider]

Originally Posted by rascal

no way this country can switch off of oil in 10 years let alone 2. We can't afford it. Get ready to be #2 to China in about 5 years people...it's not going to be pretty either.

I am just waiting for everyone to tell me how good Outsourcing is , When I raised hell about outsourcing , everyone told me it was good for the Economy .... I knew Letting Chinia buy our Debt was a dumb ass move , Just like Paying these Companies to out source our Jobs ......
Guess what those 3 rd world Countries Peddeling the Drugs in Canada that we cant have cause it is bad for us ? In none other then the USA . go figure

[RaiderH8r]

Originally Posted by Bronco_Beerslug

Or implement MPG requirements on new vehicles and invest our money in renewable energy instead of poking holes all over the planet looking for a limited, global polluting supply of oil.


Oil Charges Above $55 as Funds Pile In

Just because you want to buy a POS hybrid doesn't mean you get to make that choice for everyone. Biomass is a joke, it would take a pile of sh@t the size of Wyoming to produce 2% of US demand. Wind farms? Yeah, let's see you get citing and permiting for enough of those to make a difference, there goes the state of Utah. Solar? Again, we'll throw South Dakota on the pile and now we're up to about 13% of US demand. Let's see, Hydrogen. Not bad, good luck getting the infrastructure cited to transmit all of this fun, clean new energy to distribution centers. The US is 35 years away from having a electric transmission grid that will meet the needs of the consumers, if we start today...good luck with that.

[W*GS]

Originally Posted by rascal

no way this country can switch off of oil in 10 years let alone 2. We can't afford it.

Yes, we can - but we will need to accomodate the increase in price, which we will. In the early 1980s, the price of a barrel touched $60 (2000 dollars) during the Iran-Iraq war. Did the US go all to hell then?

Originally Posted by rascal

Get ready to be #2 to China in about 5 years people...it's not going to be pretty either.

China is hardly immune from oil price rises - in fact, their insatiable demand for the stuff is a big part of what's been driving the oil price increases we've seen over the last few years.

It may be nice to think that OPEC is going to screw us all by jacking the price of oil sky-high, but they've done it before and it eventually fails to work. Non-OPEC members see an opportunity to increase their production, OPEC members themselves say "Screw the production quotas", and consumers say "Criminy, this stuff is expensive, I better use it more efficiently", and so the price drops as demand drops and supply increases.

In other words, the market words, despite attempts to subvert it.

[RaiderH8r]

Originally Posted by W*GS

Yes, we can - but we will need to accomodate the increase in price, which we will. In the early 1980s, the price of a barrel touched $60 (2000 dollars) during the Iran-Iraq war. Did the US go all to hell then?



China is hardly immune from oil price rises - in fact, their insatiable demand for the stuff is a big part of what's been driving the oil price increases we've seen over the last few years.

It may be nice to think that OPEC is going to screw us all by jacking the price of oil sky-high, but they've done it before and it eventually fails to work. Non-OPEC members see an opportunity to increase their production, OPEC members themselves say "Screw the production quotas", and consumers say "Criminy, this stuff is expensive, I better use it more efficiently", and so the price drops as demand drops and supply increases.

In other words, the market words, despite attempts to subvert it.

China's also using coal with NO regard for clean air standards and the libs aren't saying boo about that.....or China's crappy human rights record..........

[alkemical]

Originally Posted by RaiderH8r

Just because you want to buy a POS hybrid doesn't mean you get to make that choice for everyone. Biomass is a joke, it would take a pile of sh@t the size of Wyoming to produce 2% of US demand. Wind farms? Yeah, let's see you get citing and permiting for enough of those to make a difference, there goes the state of Utah. Solar? Again, we'll throw South Dakota on the pile and now we're up to about 13% of US demand. Let's see, Hydrogen. Not bad, good luck getting the infrastructure cited to transmit all of this fun, clean new energy to distribution centers. The US is 35 years away from having a electric transmission grid that will meet the needs of the consumers, if we start today...good luck with that.

Considering solar technology is getting much better - as in, i've seen the designs for a nano-paint that will make your house a solar panel, these things can come to fruition much quicker and much more efficient.

I am looking at buying a honda accord hybrid - and it's a damn nice car, and makes 250hp - call me crazy, but that's no POS, and i call it progress.

[Bronco_Beerslug]

Originally Posted by RaiderH8r

Just because you want to buy a POS hybrid doesn't mean you get to make that choice for everyone. Biomass is a joke, it would take a pile of sh@t the size of Wyoming to produce 2% of US demand. Wind farms? Yeah, let's see you get citing and permiting for enough of those to make a difference, there goes the state of Utah. Solar? Again, we'll throw South Dakota on the pile and now we're up to about 13% of US demand. Let's see, Hydrogen. Not bad, good luck getting the infrastructure cited to transmit all of this fun, clean new energy to distribution centers. The US is 35 years away from having a electric transmission grid that will meet the needs of the consumers, if we start today...good luck with that.

Ignorant reply. Where did I say everyone should buy a hybrid? I said invest now in renewable energy. The only way technology to will be found to move away from oil and the stranglehold American corporations have on us and the government is spend the money for researching renewable energy.
You and your attitude would fit right in with hole punchers in the country.

[Rascal]

Originally Posted by amesj523

Considering solar technology is getting much better - as in, i've seen the designs for a nano-paint that will make your house a solar panel, these things can come to fruition much quicker and much more efficient.

I am looking at buying a honda accord hybrid - and it's a damn nice car, and makes 250hp - call me crazy, but that's no POS, and i call it progress.

that solves coal but it doesn't solve oil.

[alkemical]

Originally Posted by rascal

that solves coal but it doesn't solve oil.

Well i figure if you can power your home for the most part - say it's at 60% renewable and then when you aren't home, you return power to the grid - i'd say that's a good start.

For oil, it's just going to be a radical change in how things are done. Instead of killing rail in this country, maybe we could figure out how to get a train to run on alternative fuel, then we can ship frieght and people by rail, and for truck drivers you could hub and regionalize frieight for most major locations - instead of long distance haulers for tons of different little things....

There's got to be an answer, if we don't evolve we die, plain and simple.

[Rascal]

this country will never be as dependent upon rail as you suggest...to many people including myself will not give up the liberty and freedom of their cars.

[alkemical]

Originally Posted by rascal

this country will never be as dependent upon rail as you suggest...to many people including myself will not give up the liberty and freedom of their cars.

Well i'll tell you what, your voice will change if you have to pay $5 gallon and drive an SUV.

I use rail alot. When i want to go to philly or NYC, i use rail. I don't have to pay for parking, it makes things pretty convienant.

Whose to say you won't have cars anyway - If you make freight shipping regional and use rail to hub out the delivery process that would reduce over all fuel consumption.

[RaiderH8r]

Originally Posted by Bronco_Beerslug

Ignorant reply. Where did I say everyone should buy a hybrid? I said invest now in renewable energy. The only way technology to will be found to move away from oil and the stranglehold American corporations have on us and the government is spend the money for researching renewable energy.
You and your attitude would fit right in with hole punchers in the country.

How do you transmit all of this renewable energy? All current renewables fail miserably in the area of efficiency, more energy goes in than comes out. Additionally, you will NEVER be rid of petroleum production. Petroleum and petroleum by products exist in every facet of day to day life. Stranglehold? the American consumer has the final say, stop using it and it will become obsolete.

[Rascal]

Originally Posted by amesj523

Well i'll tell you what, your voice will change if you have to pay $5 gallon and drive an SUV.

I use rail alot. When i want to go to philly or NYC, i use rail. I don't have to pay for parking, it makes things pretty convienant.

Whose to say you won't have cars anyway - If you make freight shipping regional and use rail to hub out the delivery process that would reduce over all fuel consumption.

I can't use rail because I live in the midwest and it hardly exists. To get to work I have no option but to drive. To go anywhere I either have to pay a airplane ticket, pay the same price to go by train and take longer to get there, or drive.

And if you do get rid of all the trucks you are going to be cutting a lot of jobs and what do you plan to replace those with? You just bumped up the unemployment line by a lot with big mean pissed off guys that can't support their families anymore.

[RaiderH8r]

Originally Posted by amesj523

Well i figure if you can power your home for the most part - say it's at 60% renewable and then when you aren't home, you return power to the grid - i'd say that's a good start.

For oil, it's just going to be a radical change in how things are done. Instead of killing rail in this country, maybe we could figure out how to get a train to run on alternative fuel, then we can ship frieght and people by rail, and for truck drivers you could hub and regionalize frieight for most major locations - instead of long distance haulers for tons of different little things....

There's got to be an answer, if we don't evolve we die, plain and simple.

Returning power to the grid is a great idea....except it's 30 years off. Not to say the technology doesn't exist, but it takes that long to get the ball rolling and get things done when you have to fight a lawsuit every 2 weeks on the issue of citing and permitting. The infrastructure of the current grid is in dire need of upgrade and replacement. Installing proper technology to return power to the grid requires more infrastructure work. Good luck getting any new power lines or facilities cited.

[alkemical]

Originally Posted by rascal

I can't use rail because I live in the midwest and it hardly exists. To get to work I have no option but to drive. To go anywhere I either have to pay a airplane ticket, pay the same price to go by train and take longer to get there, or drive.

And if you do get rid of all the trucks you are going to be cutting a lot of jobs and what do you plan to replace those with? You just bumped up the unemployment line by a lot with big mean pissed off guys that can't support their families anymore.

, you'd have to do something else. Hey i'm in IT, and when they outsource, i have to adapt. I have to do something else, something marketable. It's no different in any other field of work. Maybe these guys can be dock workers, there will be other jobs opening up at the 'hubs' i've stated. Not to mention regional shipping jobs.....

BUT freight that would go to your state, could go by train to a HUB in your state, instead of using a trucker to drive 3 states to get a product to you.

[alkemical]

Originally Posted by RaiderH8r

Returning power to the grid is a great idea....except it's 30 years off. Not to say the technology doesn't exist, but it takes that long to get the ball rolling and get things done when you have to fight a lawsuit every 2 weeks on the issue of citing and permitting. The infrastructure of the current grid is in dire need of upgrade and replacement. Installing proper technology to return power to the grid requires more infrastructure work. Good luck getting any new power lines or facilities cited.

Then we can go to the comment about rascal citing job losses from the change in transportation -

now you have a new job market opening up in infastructure and facilities. Why should we go and rebuild another countries, when the blackouts over the NE a bit a go showed that we need this upgradabliity

[Rascal]

There are already regional shipping jobs...and dock workers? That's not even close to paying the same.

That plan is sacrificing a major component of our economy and will put a another burden on this economy.

Where in the hell is spider when you need him damnit.