More like welfare or social security disability. Yeah, its a check on a regular basis, but it sure as beans ain't covering the whole tab.

Which could be done with oil shale. Oil shale development has been limited for economic and environmental reasons. If the price of oil stays high, the economics would be good, but we would still need to consider the environmental concerns.

However, it is potentially an enormous source for oil.

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I say there is an invisible elf in my backyard. How do you prove that I am wrong?

Disclaimer: Avatar is not an official NASA image and does not imply any specific interplanetary or interstellar capability.

The Leif Ericson Cruiser

people people,

It has nothing to do with how much oil is left and everything to do with that folding stuff in ya pocket!

Brilliant blogger

The US is history (and by defult the whole sociio-economic mess we are ALL in)

Situation normal.

People are using all the oil that is being brought to the market now, so increasing the supply in the future won't have a real effect on prices now. However, projects already in motion have been attempting to increase production. However, lately they have all been offset by declines in established fields.

why i drive a diesel.

cant beat the 55mpg hwy and 45 city

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Disclaimer: I have no theories, I am not smart enough to come up with theories. I only have a hypothesis. So anything I may write, statement or otherwise is just a hypothesis based on what I observe...

The difference between a correlation and a causation... Everyone who drinks water dies... Water makes things wet...

I don't know about that--I'd not what to be hit by their pitching arm....

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Todd (Bowie, MD, US, North America, Earth, Sol System, Vega region, Local Bubble, Orion arm, Milky Way Galaxy, Local Group, Virgo A Cluster, Virgo supercluster, the universe in which spock is clean shaven)

Quidquid latine dictum sit, altum sonatur.

personal page: http://blog.astrosketches.info

I'd agree it's like hunting for loose change in the couch, if your "loose change in the couch" amounted to several decades salary.

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Todd (Bowie, MD, US, North America, Earth, Sol System, Vega region, Local Bubble, Orion arm, Milky Way Galaxy, Local Group, Virgo A Cluster, Virgo supercluster, the universe in which spock is clean shaven)

Quidquid latine dictum sit, altum sonatur.

personal page: http://blog.astrosketches.info

Your gas milage, particularly highway, has little to do with your having a diesel engine. Rather, it's because diesel fuel itself is more dense and contains about 15% more energy by volume than gasoline.

Most people think that diesel contains less oomph than gas. On a per kg basis, that's true. Due to it's higher density, however, on a per volume (gallons or liters) basis diesel outshines gasoline.

Using smaller diesel engines with turbochargers for extra oomph required during acceleration can significantly increase a diesel's efficiency while keeping the peak HP the same.

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I am Mugs, of the Alien clan of Usa, Nordamerica, a Terran, of Sol. Human.

Whoever says "perception is reality" is daft. It's merely an abstraction, and often not a very good one.

Diesel engines are also more efficient than gasoline engines. Roughly 20% more.

Just paid 3.74 a gallon for gas. I'm pretty ticked that I'm so happy to pay that price.

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Insanity: doing the same thing over and over again and expecting different results.
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I think the speculators suddenly lost some of their power for some reason and so are no longer able to drive up the price of oil. Possibly due to a change in the alignment of the planets, but more likely due to the actions of some plucky Hogwarts students.

You tell um, Brotha Ronald, cos afore you knows it, some feller waring fancy city clothes, all ful of book larnin and with some fancy yooniversity degree gonna come threw thees parts, trine to tricks us yoosin big words like SUPPLY and DEMAND. That feller so smart, maybe he can answer me, how cum it dont say nuthin bout supply and demand in the bible? Supply and demand aint nuthin but an aitheist commyoonist plot.

Speculation works both ways. Maybe some of the speculators have cashed in their profits and taken some of their money off the table.

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Yes I remember the days back in 1999-2000 when people were kicking up a storm because oil prices had suddenly rose from about 18 $ bucks a barrel to 35 bucks

35 dollars a barrel!! How we long for those days
Even 90 bucks would be a lovely gesture

Another factor to consider besides from the President wanting to do this off-shore thing is China's Olympics, the Chinese gov to combat pollution have just forced a few million cars and trucks off the road. I'm pretty sure something like that could be temporarily influencing prices for this coming month. However in the longterm oil won't drop.
With people from India and China wanting a better life from themselves high oil prices are here to stay

IMHO the Saudi wells are starting to slowly dry up, why else are they so paranoid about letting foreign geologists in to check out their deposits? After Saudi starts to run dry, the US will be left with either drilling the hell out of Alaska or forced to go to new suppliers like Russia, Nigeria, Venezuela and Iran. Most of these new oil nations are not very US friendly, some even want to dump the US Dollar and start pricing their oil in Euros or some other Asian currency. We are in for another very turbulent 3 years coming no matter who gets elected. I hope the next US president pushes forward with alternative energy like Nuclear or Solar because having access to a stable energy supply is not just an issue of economic security but national security.

There is also truth to part of this fuel problem with high oil prices comes from the fact the US dollar has been weakened these past months by economic problems, a growing US deficit, war in Iraq, the mortgage fallout etc all have contributed to the weakening of the US dollar and thus made fuel imports much more expensive.

Here is an interesting article on oil price by James Hamilton:

http://www.econbrowser.com/archives/...rices_and.html

I think it is to do with that e-mail telling us all to buy petrol at certain outlets until the others reduced their prices, then moving to those ones etc. until prices were down to "normal" levels.

Or it could be the Hogwarts thing.

I hope this is a typo.

I think he will conquare this world who has a sufficient oil and petrolium base. is this sentense true !!, we are using the conventional energy sources and not going to some other options like Hydrogen or so on a large scale. Because the traffic is dependent on the diesel and petrol, if the stock will finish traffic will stop, if the prices goes on the pick, traffic will be there on the road, because everyone in this world want to do a best and safety travel around the world. so price is not a main matter, what do you think !

Also, as pointed out by some economist on the radio, speculators tend to buy or sell based on what they think the future price of oil will be. I.e. they make a trend come early more than they create a trend. (or, they are bellwethers of sort). The same economist said that the effect moderates price fluctuations more than they emphasize them--we can't test because we can't run the same system twice, once with speculators and once without, and it does sound like positive feedback more than negative feedback (positive feedback tends to enhance fluctuations, negative dampens) so I don't know for sure. It could still have the effect of negative feedback if predicting the future means bucking the current trend.

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Todd (Bowie, MD, US, North America, Earth, Sol System, Vega region, Local Bubble, Orion arm, Milky Way Galaxy, Local Group, Virgo A Cluster, Virgo supercluster, the universe in which spock is clean shaven)

Quidquid latine dictum sit, altum sonatur.

personal page: http://blog.astrosketches.info

Sorry Heid the Ba', what I meant to say was some other 'weird' currency How can people buy into a new global reserve currency that doesn't even have a real person printed on the bill .

Oil looks like it will climb again, Federal board gov. Mishkin said we could be in for a rough three years thanks to turmoil in the financial sector. Asian markets are concerned about a US downturn and European central bankers are concerned with EU inflation. There were bombings in Turkey and Iraq today, these types of events just add to the instability of the Middle East.

For a number of reasons I expect oil to be back at 150$ by September 2008