Oil at all time record

[MiccyNarc]

And for you idiots that always harp on the fact that inflation is just making it look more expensive, this is an inflation adjusted all time high:
http://news.bbc.co.uk/1/hi/business/7288028.stm

 

[DigiQ8]

[evil voice] excellent....excelleeent [/evil voice]

 

[AKIRA]

gas is $1.08/Liter ....WTF im not made of money and i travel over 100km a day, 5 days a week with my 2.0L golf.

 

[DiSTuRbEd]

One of the main reasons I only now go out to get food and work...

 

[yakuruto]

Heh heh, since oil is the fuel of our precarious civilization you can expect an increase in almost every product's price...

Whether we're running out of oil or not, that I don't know for sure, but it's a fact that that it's getting more expensive by the day...

 

[AKIRA]

why the shit does it fluctuate like crazy, one week it's 98 cents/Liter then the next day it's $1.something/Liter...bah, it's killing me financially, i dont have money for booze man!!! lol

why cant it just go back down to 80-85 cents/Liter ????!!!!!! i need to win the lottery.

 

[MiccyNarc]

Heh heh, since oil is the fuel of our precarious civilization you can expect an increase in almost every product's price...

Whether we're running out of oil or not, that I don't know for sure, but it's a fact that that it's getting more expensive by the day...

We've been running out of the oil since the day we started to pump it, it's the fact demand is outpacing supply which is causing our current price issues.

It's only going to get worse from here.

 

[phantomdesign]

We're not anywhere close to running out of oil; it's a combination of politics, price gouging, and politics.

Anyway, hopefully now the environmentalists in the US will STFU and step out of the way so we can drill oil in Alaska! That should help keep the economy healthy as alternative energy exploration continues.

 

[delusional]

I'm not liking $3.50 gasoline.

 

[Anthraxxx]

There's oil in alaska...

 

[Raziaar]

Records are things to be celebrated.

 

[giant384]

There's oil in alaska...

lol where have you been. its not being drilled because its precious territory.

also gas here is 3.07 a gallon

 

[Dekstar]

Driving down to uni today I saw a station at ?1.12/litre
****ing insane.

EDIT: Pounds. When's the forum going to get that fixed, or at least make $ = ? too.

 

[MiccyNarc]

We're not anywhere close to running out of oil; it's a combination of politics, price gouging, and politics.

And people like you are the reason we are in this ****ing mess.
Do some research into peak oil then come back here and spout off. Something tells me you'll be singing a different tune.

 

[Atomic_Piggy]

All easy to access oil should be gone by 2030. Same with gas. Coal may last a hundred more years at best.

Unless certain politicians get off they're asses and fund alternetive energy, or even nuclear, then civilization is ****ed.

 

[delusional]

The oil in Alaska really wouldn't buy us that much time. It'll take 12 to 32 years if it makes up 5% of our oil consumption. And less than a year as a sole source. Temporary solution at best. I'd rather focus on alternatives instead.

 

[Beerdude26]

It's 1.5 euros = 2.30 dollars per litre here (using Google calculator)

 

[Krynn72]

But we dont go by the litre!

 

[delusional]

What's a litre?

 

[Beerdude26]

It's 10 cubic decimetres of liquid.

/me hugs his metric system

 

[Shippi]

.

 

[Kyorisu]

Cheapest petrol in the CBD right now is $1.33 a litre or $1.22 USD. One gallon = 3.785 litres so $4.6 USD a gallon.

 

[Maxi]

One of the reasons that the oil price is this high is the cartell known as OPEC. They control total world output of oil and that way set a price that is as high as the global economy will tolerate without diminishing demand. This insures that oil companies maximize their profit. For instance Shell made a 65 BILLION $ profit last year. That's not total turnover. That's profit. 65 BILLION in their pockets.

Those who say "We are running out of oil" "Supply can't meet demand". That is just plain bullshit. OPEC doesn't want an excess of demand, they try to minimize worldwide supply so that prices are pushed up and they make money. It's the same strategy that Sony, Nintendo and Microsoft use when they sell a new console. Put the price up high, get people to feel that they "need" the new console, make sure that supply does not meet demand and get information out that this is the case and make people believe it. Now you've got gamers feeling they need the new console and they know that there won't be many available. So they disregard price and stand in line to buy the console at a ridiculous price on launch day. This gives the company free advertising and in turn makes more people want to get said console since it appears to be so popular. And the circle continues.

With oil this is much easier since the gas companies don't have to stimulate demand since everyone needs oil the demand is there. They only control supply. I.E make sure that there isn't enough on the market so that prices are insanely high.

EDIT: And for the record, gas is here 1,5€ per litre. Or 2.3$ per litre or about 8 dollars per gallon.

 

[Druckles]

I cycle. This don't bother me

 

[repiV]

OK, doomsday theories aside, the reason we pay so much for petrol is because the vast majority of it is ****ing tax. Out of that ?1.05 we pay per litre at the pump, nearly 80 pence of that is tax. I'm afraid your ire is largely misdirected.

 

[Ren.182]

Pay about ?1.02 per litre here, probably one of the cheaper places in this country thankfully.

Still remember when I used to pay about 75p per litre... Those were the days

 

[Kyorisu]

OK, doomsday theories aside, the reason we pay so much for petrol is because the vast majority of it is ****ing tax. Out of that ?1.05 we pay per litre at the pump, nearly 80 pence of that is tax. I'm afraid your ire is largely misdirected.

$0.38143 per litre here. Damn you fuel and excise tax. Queenslanders get a 8.354c/litre subsidy lucky bastards.

 

[repiV]

Fuel tax is bullshit. As are road tax, congestion charges, parking charges, parking fines (the average London delivery driver can expect to pick up at least half a dozen 120 quid parking fines per day just for doing their job), speeding fines (when everyone is "guilty", it's not a fine, it's a tax), and the bullshit that passes for "green" taxes.
For years motorists have been paying through the nose in specialised taxation and yet hardly any of that money is actually used to fund the road system, which of late is designed in such a way so as to deliberately cause congestion and frustration and force people onto public transport, and which is often dangerously ill-maintained.
Potholes everywhere, el cheapo road surfaces which are so slippery they cause accidents, and el cheapo crash barriers made out of wire which will sever limbs and decapitate any motorcyclist who is unfortunate enough to hit them.
I doubt people will continue to put up with it for much longer. Personally I find it an insult that I have to pay all this tax for the "privilege" of using roads which put my life in danger.

 

[Beerdude26]

OK, doomsday theories aside, the reason we pay so much for petrol is because the vast majority of it is ****ing tax. Out of that ?1.05 we pay per litre at the pump, nearly 80 pence of that is tax. I'm afraid your ire is largely misdirected.

Lol pwnt

Although our government is pwning itself because they are giving diesel subsidies (currently floating around 1.1 euro or something around 1.6 $) and that isn't very good for our state coffers

 

[repiV]

Lol pwnt

Although our government is pwning itself because they are giving diesel subsidies (currently floating around 1.1 euro or something around 1.6 $) and that isn't very good for our state coffers

Interesting...at the moment, diesel is actually more expensive here than unleaded.

 

[MiccyNarc]

Those who say "We are running out of oil" "Supply can't meet demand". That is just plain bullshit. OPEC doesn't want an excess of demand, they try to minimize worldwide supply so that prices are pushed up and they make money. It's the same strategy that Sony, Nintendo and Microsoft use when they sell a new console. Put the price up high, get people to feel that they "need" the new console, make sure that supply does not meet demand and get information out that this is the case and make people believe it. Now you've got gamers feeling they need the new console and they know that there won't be many available. So they disregard price and stand in line to buy the console at a ridiculous price on launch day. This gives the company free advertising and in turn makes more people want to get said console since it appears to be so popular. And the circle continues.

Used to be true. OPEC's major oil producers (Saudi Arabia) have peaked. At this point OPEC would be shooting themselves in the foot to keep prices so high because it's causing severe demand destruction. Maybe not here in the states yet, but in other countries.
But sure, you can keep believing that.

OK, doomsday theories aside, the reason we pay so much for petrol is because the vast majority of it is ****ing tax. Out of that ?1.05 we pay per litre at the pump, nearly 80 pence of that is tax. I'm afraid your ire is largely misdirected.

That's the joy of living in Europe.

At $107 dollars per barrel, that's 42 gallons, $2.55 per gallon.

 

[yakuruto]

It's 10 cubic decimetres of liquid.

/me hugs his metric system

Nope, it's only 1 cubic decimeter, roughly more than 1/4 gallon.

(1 gal ≅ 3.785 liters)


/me hugs his metric system too :cheese::bounce:

 

[Saturos]

All easy to access oil should be gone by 2030. Same with gas. Coal may last a hundred more years at best.

Unless certain politicians get off they're asses and fund alternetive energy, or even nuclear, then civilization is ****ed.

It's mostly state wide policy over here in the U.S. Oregon ranks as the greenest state in all of USA. It's cities already have hydrogen bus lines in service. The only emissions that hydrogen engines spew is steam.


The cost(s) of these specially designed buses is expensive, so hydrogen is still out of the question for many states for now. Hybrids on the other hand have not really recieved a warm reception and are still expensive. (I don't like hybrids anyways tbh. :|)

Bottom line, we have too many idiots in office.

 

[Evo]

Nuclear really should be embraced more fully as an energy source (not for cars obs! ) and yes, I know it is costly to setup/maintain/dispose of, but it is much better for the environment (if I am correct) than oil/gas/coal. Go nuclear, then invest in the real green energy sources once we have a guaranteed power supply.

 

[CptStern]

..yet people still drive behemouth sized vehicles ..overheard someone the other day say it costs them $180 to fill their pickup ..the kicker was that he didnt need the truck for work ..in his words "I just like pickups" ..well then, pay through the nose to maintain it and quit bitching

 

[Rico]

Fuel tax is bullshit. As are road tax, congestion charges, parking charges, parking fines (the average London delivery driver can expect to pick up at least half a dozen 120 quid parking fines per day just for doing their job), speeding fines (when everyone is "guilty", it's not a fine, it's a tax), and the bullshit that passes for "green" taxes.
For years motorists have been paying through the nose in specialised taxation and yet hardly any of that money is actually used to fund the road system, which of late is designed in such a way so as to deliberately cause congestion and frustration and force people onto public transport, and which is often dangerously ill-maintained.
Potholes everywhere, el cheapo road surfaces which are so slippery they cause accidents, and el cheapo crash barriers made out of wire which will sever limbs and decapitate any motorcyclist who is unfortunate enough to hit them.
I doubt people will continue to put up with it for much longer. Personally I find it an insult that I have to pay all this tax for the "privilege" of using roads which put my life in danger.

Drive on the grass, then refuse to pay taxes. I'm sure the government will understand.

Used to be true. OPEC's major oil producers (Saudi Arabia) have peaked. At this point OPEC would be shooting themselves in the foot to keep prices so high because it's causing severe demand destruction. Maybe not here in the states yet, but in other countries.
But sure, you can keep believing that.

You think Saudi Arabia is the only exporter or oil in the world? If oil supplies are so low, then how come in Venezuela (my country of birth) you can still pay for a tank of gas with pocket change? I'll tell you why, because Venezuela's #1 export is oil, with it being among the top 5 major exporters of oil in the world. If oil were in the dire shortage you seem bent on believing it is, oil wouldn't be that much cheaper in a third world country. It costs more to buy meat for your dinner than it costs to fill up a tank of gas.

And for those of you who don't believe you can buy gas with pocket change, go pay Venezuela a visit. You'll probably get kidnapped/killed though, isn't Chavez wonderful?

..yet people still drive behemouth sized vehicles ..overheard someone the other day say it costs them $180 to fill their pickup ..the kicker was that he didnt need the truck for work ..in his words "I just like pickups" ..well then, pay through the nose to maintain it and quit bitching

Agreed. I see so many trucks in Texas it makes me want to take a sledge hammer and go to town on these assholes.

 

[MiccyNarc]

.
You think Saudi Arabia is the only exporter or oil in the world? If oil supplies are so low, then how come in Venezuela (my country of birth) you can still pay for a tank of gas with pocket change? I'll tell you why, because Venezuela's #1 export is oil, with it being among the top 5 major exporters of oil in the world. If oil were in the dire shortage you seem bent on believing it is, oil wouldn't be that much cheaper in a third world country. It costs more to buy meat for your dinner than it costs to fill up a tank of gas.

You just debunked your own statement. Of course it's cheap in venezuela. It's also cheap all over the middle east, why? They produce it, they keep it. It's when they can't afford to keep it cheap for themselves that we're all screwed. That's when they'll jack up the costs or stop exporting.

 

[Atomic_Piggy]

I think the best thing to do is for USA to give China nuclear power plants (I'm pretty sure china have nukes, so its not an Iran style situation), and then take the funding from Iraq and move it to alternative fuels.

But its not gonna happen, esspecially since the Yanks are too deep in the shit in Iraq.

 

[Raziaar]

My family cannot afford fuel efficient cars which absolutely sucks. I can't wait until they start selling some vehicles that poorer people can afford that have a really good mile per gallon ratio.

 

[CptStern]

any small car is fuel efficient just by the very nature that they're small