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Photos from Around the World Protesting High Fuel Prices

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Mary Tiernan

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I read an interesting story about the strike in France and Spain yesterday. Those folks know how to fight to bring down fuel prices - blocked ports, shut down refineries, stopped trucks from passing. Spain anticipates it will run out of food this weekend. Talk about bringing to the attention the plight of truck drivers and the fact that truck drivers are a necessary part of the way the world works.

The only problem that I see is that the truckers are asking their governments to subsidize the cost of fuel.

Saw an article three days ago where Saudie Arabia is calling for a summit because they think oil prices are overinflated. They do not want developing countries to be impacted by the high oil prices. I thought, ok, wonder when this will impact oil prices, just the mention of a meeting . . .

The next day, oil prices had declined, as a result of a stronger dollar and decreasing demand so the news story went. . . .

Oh and up above is an ad asking me to sign John McCains gas tax moratorium. Nope - can't support a band-aid fix - just say we will explore drilling here in America and I bet production would increase. . .
 

Terrel L. Shields

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Here in America we need a Tennessee Valley Authority type of plant to really tell us who is to blame and what is the true cost of fuel.
BS

European protests are sparked in part by the fact they cannot pass on costs to customers due to price controls on them....

Our local papers ran a moronic letter to editor suggesting we bomb the Saudi's to get more oil. Can someone explain how that works?

Fact remains. The "true" cost of oil is probably much higher than it is now because the cost should include the environmental damage, perhaps even the global warming if you are a true believer.

The finger point should be poking our own chest. We've abandoned CAFE regulation by allowing SUVs exemptions. We are sucking oil at ever higher rates barely slowing our take even in the face of $4 gas. The average weight and gas milage of a car is down from 20 years ago. China is willing to buy any surplus oil in the world.

Meanwhile our extraordinarily stupid congress wants to pass a windfall profits tax. First, it does not "TAX OIL COMPANY PROFITS" . The WPT taxes crude oil at the well head, meaning the royalty owners who have no means to offset this tax pay the full freight. Ditto for domestic small companies that do most of the drilling. The international oil companies, OTOH, can deduct the WPT from taxes paid overseas. So, they simply renegotiate the "deal" with the foreign country so that that countries share of the oil is shown as a "tax" not as a royalty interest. Under regulation in 1979 Carter cut the price paid to domestic crude oil. The result was the closing of many marginal wells because lifting costs exceeed the price paid. "New" oil was allowed to fetch top dollar. This resulted in the premature abandonment of many wells which will never be opened again.

The oil companies profits are a non issue. No one is wanting a windfall tax on Apple because the IPOD was a success. They made billions there, too. The large international companies no longer explore for oil. Small domestic drillers do. State oil companies do. And we cannot dictate to any nation what price they should charge.

BTW, PetroBras (Brazilian state oil company) is investing along with a Japanese firm in Shale Oil in Utah. Where are the majors? On the sidelines because they got burnt before by Shale oil. The majors are so incompetent they cannot even drill here.

Fuel prices should be high. That is the only cure for high energy cost..High prices. No alternative fuel will "make it" in the face of $18 a bbl crude.

Today, offshore oil from the U. S. has a lifting cost approaching $50 per barrel.

The Fed bears much blame too. They have weakened our dollar to near the point of no return. With the suggestion that interest rates may have to increase, our nation will surely fall into a moderate to deep recession. And the precipitious drop in the interest rates last year and this spring were a huge mistake. We are now paying for it with raging inflation.
 

Mile High Trout

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Get a life

Solar, Wind, Water, biofuels.

"Wind Powering America" NREL
NREL

NREL

NREL

NREL

Get a clue. Ever fought against hemp? Ever purchased bigger & faster? Ever not shelled out the cost for environmentally better products? Want change, it comes from your wallet.
 

Mile High Trout

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Billions & Billions

Terell,

Actually, those are good points, when you talk about the "true cost of oil" In Carl Sagan's last book, "Billions & Billions" he dealt a lot with that issue. Specifically with relations to international politics, war, supply & demand, and overall economics. That's one enlightening read.

Billions & Billions: Thoughts on Life and Death at the Brink of the Millennium


Carl Sagan wrote many non fiction books that are highly relevant to current issues like fuels and populations.

This is a must read for anyone who has a brain.

:new_2gunsfiring_v1:
 

Fred

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They won't have Exxon to complain about any more.
 

Scott Kibler

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Higher gas means less people driving means less congestion on the road means I cover more ground quicker means I'm more productive and efficient means more income for me.

High fuel costs; the key to prosperity.
 

Terrel L. Shields

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They won't have Exxon to complain about any more.
We don't now. It's Exxon-Mobil... Someone asked me why they didn't see any Texaco signs anymore. They didn't realize Texaco had disappeared.

The "seven sisters" are really 6 now. 3 are foreign owned. Dutch Royal Shell, BP (British Petroleum), and Total (French). BP owns the most reserves on the North Slope and own the most reserves in the lower 48. Worldwide Lukoil and Gasprom (Russians), Venezeula state oil, Pemex (Mexico) and PetroBras (Brazil),Nigerian National, Aramco (Saudi); Libya, Iranian National, and Indonesia own about 80% of all the proven reserves in the world. The majors own 8%.

Indonesia recently dropped out of OPEC because they are a net importer of oil. High prices are killing them because they subsidize the price of gas as do the Iranians, Chinese, Venezuela, and many other third world countries. In doing so, the drivers there are not cutting back and riot everytime the government attempts to raise the price of fuel.

High fuel costs; the key to prosperity.
you must get a royalty check...that geology degree did you some good :rof:
 

murray stroupe

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Re; XOM

[QUOTESteve S+=Terrel L. Shields;1621996]We don't now. It's Exxon-Mobil... Someone asked me why they didn't see any Texaco signs anymore. They didn't realize Texaco had disappeared.

The "seven sisters" are really 6 now. 3 are foreign owned. Dutch Royal Shell, BP (British Petroleum), and Total (French). BP owns the most reserves on the North Slope and own the most reserves in the lower 48. Worldwide Lukoil and Gasprom (Russians), Venezeula state oil, Pemex (Mexico) and PetroBras (Brazil),Nigerian National, Aramco (Saudi); Libya, Iranian National, and Indonesia own about 80% of all the proven reserves in the world. The majors own 8%.

Indonesia recently dropped out of OPEC because they are a net importer of oil. High prices are killing them because they subsidize the price of gas as do the Iranians, Chinese, Venezuela, and many other third world countries. In doing so, the drivers there are not cutting back and riot everytime the government attempts to raise the price of fuel.

you must get a royalty check...that geology degree did you some good :rof:[/QUOTE]
======================

XOM [ [$3.95/9]sometimes beats the independent dealers here, in price;
except Walmart, in next county.[$3.76/9].

Well that move of XOM selling stations just proves''not really excess profits'';
maybe buyers can do better, smaller is usually more efficent.Except some stations closed-peak to valley roller coaster price in gas
 

Terrel L. Shields

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The money is being made by the folks who own the oil reserves. That means the oil companies which own about 8% of the reserves do benefit, but they controled 50% of the oil in the mid 70's. Today, the beneficiaries of this largess is mostly OPEC members, Russia, and other producing and exporting countries.

Even in Iran, they are under some pressure. They are making a lot of money on oil sales but must import gasoline. They are using it like water... in fact, it is cheaper than water in Iran. The fixed price of gasoline is like 35¢ a gallon. When they attempted to raise the price recently, there was rioting in Tehran. China, India, etc. have little incentive to conserve gasoline because it is fixed price and subsidized by their governments...why worry about fuel mileage when gas is 9¢ a gallon (Venezuela)
 
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