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[Varche]

I can see both sides of the argument here for prices to stay up and to come down.  I suspect they will settle in the middle but still over the 100dollar a barrel point.

Like it or not the Saudis( friends of terrorists like Osama BL) have a huge vested interest in getting the price right. I still think it is very likely that they will fund our (UK) nuclear power stations and so when their oil starts to dry up they will have a different cash cow. What a truly horrible thought.

varche

[Jay w]

.. and my local LPG garage went up 1p a litre today. Strike them off the list. No more fillups there.

Kevin

our local one has dropped back by 5ppl, we are back at 53ppl now

[Kevin Wood]

.. and my local LPG garage went up 1p a litre today. Strike them off the list. No more fillups there.

Kevin

our local one has dropped back by 5ppl, we are back at 53ppl now

53p? Blimey. What brand is that?

Been away for a week but the mainstream stations I passed tonight are still 61.9 with the odd 59.9 here.

Kevin

[JamesV6CDX]

Believe it or not I can get LPG under 50ppl in Cardiff still.

I paid £1.12 for BP Ultimate tonight though, only a penny dearer than BP standard. £80 to filll the tank.

still not tooooooo bad... if I'm careful how I use the car this could last me up to a week...

[Nickbat]

$100 per barrel is the new floor price for oil - ie it will never go below $100 again i'm afraid - so this is about as cheap as its goin to get - every oil producing nation has peaked either recently (eg Russia 2007, Mexico 2004, Norway 2000) or way back (eg USA 1970, Iran 1974, Libya 1970)

only 3 main oil producers have yet to start to slide down the other side of the production graph and they are reckoned to be :-

Kuwait - predicted 2013 (see why the good ole US of A helped them?)
Saudi Arabia - predicted 2014 (they pretty much own the USA - i think about 1/3 of the entire US economy is Saudi Arabian - so please don't p@*& them off )
oh, and another little country in the middle east, goes by the name of Iraq - predicted 2018 to peak

hmmm - that makes Iraq pretty valuable.....I wonder if?......nah surely not....we couldn't just STEAL the oil.....could we?........hmmmmm - well - we'd have to invent a reason to go there......


you're right - too far fetched - its late - and i'm getting paranoid  

Bet it will.

Incidentally, that "bet" is based on production/demand and excludes political influences (e.g. Israel/Iran) Did you know that the US recently exported oil? Can't find the link right now but it is true.

US are definitely the largest importers - dont know if they ever export - maybe when the price was at its peak earlier this year some US oil companies gambled on a quick profit tho?  :-?

i would guess they keep that kinda stuff quiet  

its fascinating and scary when you look into it  

Yep!

Reuters
ANALYSIS-US oil firms seek drilling access, but exports soar
07.03.08, 2:40 PM ET

United States - By Tom Doggett
WASHINGTON3 (Reuters) - While the U.S. oil industry want access to more federal lands to help reduce reliance on foreign suppliers, American-based companies are shipping record amounts of gasoline and diesel fuel to other countries.

A record 1.6 million barrels a day in U.S. refined petroleum products were exported during the first four months of this year, up 33 percent from 1.2 million barrels a day over the same period in 2007. Shipments this February topped 1.8 million barrels a day for the first time during any month, according to final numbers from the Energy Department.

And they have exported (crude oil) for many a year...see: http://[highlight]http://tonto.eia.doe.gov/dnav/pet/hist/mcrexus1m.htm[/highlight], although the amount is tiny.

wow - like you say - its a small amount - but still - US are the biggest consumers - i wonder what countries they export to? maybe its all going to canada  

it will never go below $100 again i'm afraid

$99 today. Sorry, had to do it!  

[Jay w]

now we have to wait for petrol go drop below a pound per litre.....may be a bit o a long shot that one, although I really want to believe it will happen

[Kevin Wood]

OPEC are doing their Damnedest to ensure it doesn't drop too.  

Hopefully the economic climate will hit demand soon and they'll have no option. Then again, it's winter soon.

Kevin

[Vamps]

Re Oil price, petrol seems to go up fast and come down slowly

[Lazydocker]

You want to try domestic heating oil... Ordered yesterday and even after a real good deal on price it's still 100% more than this time last year at 50.3ppl

[sir moanalot]

when i was in the first gulf war our unit was based near an oil refinery in Saudi Arabia and i was sent to it to ask for an empty barrel to cut up for a barbecue.
when we arrived, in broken Arab (so broken it was destroyed) we asked for an empty barrel and was ushered up some stairs to a very regal plush and gold ridden office.
sitting at a desk was a sultan looking guy with all the dress and garb and the guy who guided us there backed out bowing all the way.
the "sultan,emir, top bloke" asked us, with the aid of a translator, how much oil we would be needing to start off the war!!!!!
he thought that i was some high ranking officer coming cap in hand for some fuel!!!
after some extensive explanations he offered us an empty barrell and a big cigar each and we made our way out
i wish i had kept his number, may have come in handy with the price of fuel nowadays

[Banjax]

$100 per barrel is the new floor price for oil - ie it will never go below $100 again i'm afraid - so this is about as cheap as its goin to get - every oil producing nation has peaked either recently (eg Russia 2007, Mexico 2004, Norway 2000) or way back (eg USA 1970, Iran 1974, Libya 1970)

only 3 main oil producers have yet to start to slide down the other side of the production graph and they are reckoned to be :-

Kuwait - predicted 2013 (see why the good ole US of A helped them?)
Saudi Arabia - predicted 2014 (they pretty much own the USA - i think about 1/3 of the entire US economy is Saudi Arabian - so please don't p@*& them off )
oh, and another little country in the middle east, goes by the name of Iraq - predicted 2018 to peak

hmmm - that makes Iraq pretty valuable.....I wonder if?......nah surely not....we couldn't just STEAL the oil.....could we?........hmmmmm - well - we'd have to invent a reason to go there......


you're right - too far fetched - its late - and i'm getting paranoid  

Bet it will.

Incidentally, that "bet" is based on production/demand and excludes political influences (e.g. Israel/Iran) Did you know that the US recently exported oil? Can't find the link right now but it is true.

US are definitely the largest importers - dont know if they ever export - maybe when the price was at its peak earlier this year some US oil companies gambled on a quick profit tho?  :-?

i would guess they keep that kinda stuff quiet  

its fascinating and scary when you look into it  

Yep!

Reuters
ANALYSIS-US oil firms seek drilling access, but exports soar
07.03.08, 2:40 PM ET

United States - By Tom Doggett
WASHINGTON3 (Reuters) - While the U.S. oil industry want access to more federal lands to help reduce reliance on foreign suppliers, American-based companies are shipping record amounts of gasoline and diesel fuel to other countries.

A record 1.6 million barrels a day in U.S. refined petroleum products were exported during the first four months of this year, up 33 percent from 1.2 million barrels a day over the same period in 2007. Shipments this February topped 1.8 million barrels a day for the first time during any month, according to final numbers from the Energy Department.

And they have exported (crude oil) for many a year...see: http://[highlight]http://tonto.eia.doe.gov/dnav/pet/hist/mcrexus1m.htm[/highlight], although the amount is tiny.

wow - like you say - its a small amount - but still - US are the biggest consumers - i wonder what countries they export to? maybe its all going to canada  

it will never go below $100 again i'm afraid

$99 today. Sorry, had to do it!  

  i was waiting for that Nickbat!!!
fair play - it has dipped below $100 - but not for long