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  1. #676
    Joined
    Sep 2003
    Location
    Kern River Valley, CA
    Age
    71
    Posts
    21,473

    Re: The high price of oil is *whose* fault?

    Aero^^^ Where does the number of those that quit looking and those that ran out of unemployment benefits come in?

  2. #677
    Joined
    May 2002
    Location
    Twain Harte, CA
    Posts
    20,419

    Re: The high price of oil is *whose* fault?

    ^^^ Don't forget the self employed who find their workload down to diddley.

    Most of my friends are in that group... our Friday afternoon golf/beer/food pub crawls have turned into whine-a-thons.
    Last edited by Dutchcedar; 10-20-2009 at 12:09 PM.

  3. #678
    Joined
    Sep 2008
    Location
    Crazy AZ USA
    Posts
    3,516

    Re: The high price of oil is *whose* fault?

    Quote Originally Posted by tucker View Post
    Aero^^^ Where does the number of those that quit looking and those that ran out of unemployment benefits come in?

  4. #679
    Joined
    Sep 2003
    Location
    Kern River Valley, CA
    Age
    71
    Posts
    21,473

    Re: The high price of oil is *whose* fault?

    Quote Originally Posted by AeroSim View Post

    Karnak, one of my favorites…

    He did make more sense than what we see coming from Washington right now.

  5. #680
    Joined
    Oct 2009
    Posts
    374

    Re: The high price of oil is *whose* fault?

    Law of supply and demand do not apply to monopolies. Every oil and Gas company is in part co-owned or controlled by another oil and gas company. When the pumps change, they change everywhere by the same factor. Fixed pricing and 100% demand means that they can charge you $100.00 a gallon and you would have no choice but to bend over and take it up the rear.

    Time people change the thinking and resort to generating their own electricity by means of Geothermal, tides, waves, wind and sun. If we all found clean alternatives I am sure the oil companies would severely reduce the cost of oil to shut down the alternatives. After all they are the ones who keep advertising about alternative fuels and cleaner Gases meanwhile holding many bought up Patents other people have created many years ago which allow people to use alternatives to oil.

    I would love to see the oil companies go out of business and people provide their own energy. That would never happen so long as we all continue endorsing them while alternatives (even if they are more expensive) have existed for many many years. We deserve whatever the oil companies dish out.
    Last edited by Pixels303; 10-21-2009 at 08:58 PM.

  6. #681
    Joined
    Nov 2004
    Posts
    5,171

    Re: The high price of oil is *whose* fault?

    iraq raised oil prices



    http://www.oil-price.net/



    Until now, the US dollar has been used as the sole oil trading currency around the globe. But last weeks rumors started to surface that a secret meeting took place between Gulf Arab oil producers and some oil importing states trying to decide on an alternative currency to dollar for transactions. Spearheaded by China, the meeting has proposed to trade oil in a basket of currency including, the Euro, Chinese Yuan, Japanese Yen, gold and a new currency to be planned by the GCC (The Gulf Cooperation Council-Saudi Arabia, Kuwait which already went off the US dollar two years ago, Qatar, and Abu Dhabi).

    But why are Arab countries lending a kind ear to China? Look no further than the U.S, invasion of Iraq. With an estimated one million Arab deaths resulting from the US invasion, anger is simmering throughout the Arab world, not just Iraq. The bad publicity gained has helped an enthusiastic China in a big way. China is in need of huge amounts of oil and the Gulf States are happy to comply with China in exchange cheap imports, military technology transfer. This pushes the US further aside from the bargaining table and reduces its influence in the Middle-East.

    This scenario is far removed from the Nixon Shock of 1971, if one were to walk the lanes of history. In 1971 the then U.S. President, Nixon, cancelled the direct convertibility of the dollar to gold. During the same period Oil production in the US peaked and the country ran out of capacity to increase the production. OPEC (The Organization of the Petroleum Exporting Countries) thus steps into the picture. Nixon’s move helped the US to print more dollars- as much as they needed- to buy oil from OPEC establishing direct nexus between the dollar and oil.

    So, here’s the bigger picture: When this dollar dominance ends, as efforts are already visible, it could well be the last shoe to drop from the US economy.
    Max Plank: "A new scientific truth does not
    triumph by convincing its opponents and making them
    see the light,
    but rather because its opponents eventually die"
    Arthur Shopenhauer: "Every truth passes through three stages before it is recognized.
    First, it is ridiculed. Second, it is opposed. Third, it is regarded as self evident."
    Martin Niemöller:
    "When the Nazis came for the communists,
    I remained silent;I was not a communist.
    When they locked up the social democrats,I remained silent;
    I was not a social democrat.When they came for the trade unionists,I did not speak out;
    I was not a trade unionist.When they came for the Jews,
    I remained silent;I wasn't a Jew.When they came for me,
    there was no one left to speak out."

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