Oil prices...

[Thorned Rose]

what's funny is that if they invent something that doesn't use gas, or much much less gas, and it's a hit, then we'll see the american cliche, and prices will drop back to like 1.50/2.00 a gallon.

It's dumb... and it'd stupid. All in one fold believe that?

It's not the middle east, that's a easy way out, it's more or less about the rich getting richer and the poor staying poor.

Love it, breathe it, it's what it is.

[Ulises]

Don't worry for Oil prices americans...

When you don't have oil you launch missiles to countries that have it, so...is not a big deal  .

Don't worry.

Your village is missing you.

What do you mean with that?

[SLCPUNK]

200k barrels per day is something like less than 1% of their total daily output.

Of the 80 some odd million barrels of oil used per day, it's almost literally a drop in the bucket.

yeppers.

[Smoking Guns]

The Honda car is a huge step forward!  Bring it on!

[SLCPUNK]

It's a great start, but we're far away from the infrastructure to make in mainstream. We're talking billions probably.

[Smoking Guns]

It's a great start, but we're far away from the infrastructure to make in mainstream. We're talking billions probably.

Maybe 10 years?  I like how honda is taking the lead.  You would think GMC or Ford would try to be first at something.  Oh well, at least Japan is trying to weaken demand of foreign oil.

[SLCPUNK]

I know BMW had something similar in Europe a year or so back, think it was a seven series, can't remember.

  Oh well, at least Japan is trying to weaken demand of foreign oil.

Don't get me wrong, it's important. That's why I think they Hybrids are so great. I don't understand why people seem to despise the owners so much, seems ridiculous.

[Axl4Prez2004]

Smoking Guns, you mentioned "You would think GMC or Ford would try to be first at something."   A close friend of mine worked for Ford...in fact he's my daughter's godfather.  Take it from someone who worked there.  Ford and GM are  n o t  innovators, hell, they're lucky to still be in business.  Okay, I didn't know any GM workers so I can't say that about them, but Ford, ha, hell no.

 

[D]

Im going to invest in a good bicycle.

[Ulises]

And food because when countries like Argentina decide not export it would be interesting to see what "first world" countries do

[TAP]

And food because when countries like Argentina decide not export it would be interesting to see what "first world" countries do

Fewer obese people on public transport with any luck 

[Smoking Guns]

Smoking Guns, you mentioned "You would think GMC or Ford would try to be first at something."   A close friend of mine worked for Ford...in fact he's my daughter's godfather.  Take it from someone who worked there.  Ford and GM are  n o t  innovators, hell, they're lucky to still be in business.  Okay, I didn't know any GM workers so I can't say that about them, but Ford, ha, hell no.

 

My friend too works at Ford.  They do have some bad ass shit, but they are losing their ass so much they can't focus on that right now.  I know they are going to more 4 cylinders and turbos soon to get better fuel economy and performance.

[Smoking Guns]

I know BMW had something similar in Europe a year or so back, think it was a seven series, can't remember.

  Oh well, at least Japan is trying to weaken demand of foreign oil.

Don't get me wrong, it's important. That's why I think they Hybrids are so great. I don't understand why people seem to despise the owners so much, seems ridiculous.

People hate owners of hybrids? News to me.

[SLCPUNK]

I am always reading the disdain for "smug" Prius owners.

[Smoking Guns]

I am always reading the disdain for "smug" Prius owners.

HA!!!!!  I will say, it seems like they always make those cars uglier than the other cars for some reason.  I don't hate on them.

[SLCPUNK]

Yea, but I always read posts (all over, not specifically here) about the "snobbery" or "better than" attitude of the Prius owners. I've never seen it, nor have I been able to get a personal account from those making the claims.

[Smoking Guns]

Yea, but I always read posts (all over, not specifically here) about the "snobbery" or "better than" attitude of the Prius owners. I've never seen it, nor have I been able to get a personal account from those making the claims.

hmmm, maybe because its often very wealthy people that own them like Brad Pitt and Larry David?  My cousin had one and he isn't rich and he is the nicest guy.  So I really have no clue.  I could see people saying that though

[fuckin crazy]

I am always reading the disdain for "smug" Prius owners.

Fucking Trotskyites.

[pilferk]

And food because when countries like Argentina decide not export it would be interesting to see what "first world" countries do

Were Argentina to stop exporting food (agro and cattle products), your economy would basically crumble. 

Your soaring exports (1/3 of which is agro in make up) prop up your GDP.  Your manufacturing sector is good, but not good enough to support your whole economy.  And the lambasting you'd take in world public relations, and in the dents you'd put in those "first world" economies, would pretty much kill your other big industry: tourism.

So while you might see the other "first world" countries hurting....you'd see Argentina hurting just as much, if not more.

When your primary building block of your economy is exports, you really want the rest of the world in a position to be buyers.....with oil prices the way they are, and the prices of imports increasing (because it takes fuel to transport them), you shouldn't have a hard time seeing how this could effect your country and your wallet.  It might take awhile to make it's way BACK to you, but if it's a sustained issue, it WILL make it's way back to you.

[AxlsMainMan]

Oil hits record, then reverses

Barrel price wavers as production, options cause stir

By JOHN WILEN | The Associated Press ? Published June 17, 2008

NEW YORK - Crude oil futures swung wildly Monday, rising to a record and then tumbling as investors wrestled with whether they should put stock in Saudi Arabia's promise to boost production. Retail gasoline prices rose to a record $4.08 a gallon.

Light, sweet crude for July delivery fell 25 cents to settle at $134.61 a barrel on the New York Mercantile Exchange after earlier soaring to a trading record of $139.89. Earlier, they dropped as low as $132.84.

With little in the way of news to explain oil's turnabout, analysts pointed to Saudi Arabia's decision to boost production and to today's expiration of crude options, which are agreements to buy or sell futures at higher or lower prices.

Trading is often volatile in the days immediately preceding options expiration. "That could be the cause of some of the volatility today," said James Cordier, president of Tampa, Fla.-based trading firms Liberty Trading Group and OptionSellers.com.

Saudi Arabia, the world's largest oil producer, told U.N. chief Ban Ki-moon it would boost oil output by 200,000 barrels a day, or by 2 percent, from June to July. In May, the kingdom raised production by 300,000 barrels a day.

A sense that the Saudis might be getting serious about boosting output could be growing among some investors. Still, many analysts believe the boost in Saudi output is too little to make much difference.

"Saudi Arabia's proposed output addition will only go some way in offsetting the significant output losses in other OPEC nations like Nigeria," said Barclays Capital analyst Kevin Norrish.

Cordier said Saudi Arabia has "to increase by north of 1 million barrels per day" to affect prices, "and the market doesn't think they have it."

According to the International Energy Agency, OPEC spare capacity fell to less than 2 million barrels a day in May for the first time since 2006. The majority of that - about 1.45 million barrels a day - was in Saudi Arabia.

Earlier Monday, prices rose as the dollar fell against the euro. Many investors buy commodities such as oil as a hedge against inflation when the dollar falls. A weak dollar makes oil cheaper to investors dealing in other currencies. Analysts believe the dollar's fall is a major factor behind oil's doubling in price in the past year.

http://www.theolympian.com/business/story/480946.html