Oil Prices WorldWide

[DarkSoulCrusader]

Goodafternoon All,

As we all know, gas prices are raising everywhere and it effects nearly everything. Saudi Arabia and Kuwait are the only OPEC nations that aren\'t shipping out their oil at full capacity. This has a lot to do with China demanding an extra 12% of oil last year. India is right behind them in the demand for oil. Since we are competing on oil barrel prices gas will continue to rise for a lil while. We were discussing this in my Macroeconomics class. It seems a lot of people are quick to blame the Bush administration or the war on terror. Neither have anything to do with the gas increase we are facing today. At the peak of summer it will be an average of $2.50 a gallon for regular, nearly $3.00 for premium. Here in the US I believe we only have 3 oil refineries, In Texas, Louisiana, and Oregon I believe. The demand puts a lot of stress on those refineries, especially since no other state wants one of them in there backyard for environmental purposes. There is also a shortage of oil tankers to meet world oil shipment demands , more are being built, but the drydocks available are being used to construct cruise lines and other shipping vessels as well. With all this going on I see why our government got the green light to drill in the Alaskin oil reserves. I just hope that the competition doesn\'t escalate to the point of real war for oil.

[Jonathan]

Oil is simply running out, makes it harder to pump, makes it more costly.

[Reno]

* Reno waits for nuclear powered cars
personally, i have found the single best method of conserving fuel:

walk

[=D.C.L.I=Everest]

They got permission to drill in the Alaskan wildlife refuge? :eek: Bastards... Well, just another example of money over nature, I guess. *starts saving for a ticket to Alaska to go see the reindeer before they disappear...*

The problem lies in the way we consume oil nowadays. There\'s more oil needed than the world can dig up. Booming - well, more like big-banging... - economies like China and India are the direct reason why oil is so expensive. What they demand on top of what the rest of the world needs is simply too much to handle. And when it\'s such a hassle, the prices go up.

Frankly I don\'t get why Americans would be complaining so much about high oil prices. You need 3 dollars for a gallon? Over here, you\'ll need about 5 euros for 4 litres (1 gallon = 4,404883772 litres - 1 euro is 1.28878 - you do the math), if you\'re lucky to find it that cheap anymore. You think you\'re paying too much for your oil??? :\\

In my opinion, people can\'t complain about high oil prices while driving ?berswallowing cars everyday, en masse. I don\'t want to nag everyone into riding a bike to work or school, or walk or whatever, but if you don\'t chip in, then don\'t complain. In a way, oil is only just as expensive as you like to make it yourself.

I might only be some tree-huggin\' hippie from a liberal dwarf state, but if I ran the world, all fossil fuel prices would be linked to the individual\'s needs. If you don\'t need oil to live your everyday life, you\'d pay a small fortune for it, and vice versa. Oh, and everyone would get a free bike

[=D.C.L.I=Everest]

DarkSoulCrusader Wrote:It seems a lot of people are quick to blame the Bush administration or the war on terror. Neither have anything to do with the gas increase we are facing today.

But they have. You can\'t deny that occupying an oil-rich country isn\'t going to do much good for global oil prices. Had Iraq not been situated above one of the last huge fossil fuel reserves there\'s left, the price wouldn\'t have gone up so dramatically. Either the Bush administration didn\'t realise or at least underestimated that effect, or they went in there with the explicit intent to raise oil prices. I don\'t know which is scarier...

[The_Punisher]

Evert, I don\'t think that the price you have in Europe comes from the actual price of oil, but from taxes.



But time for a little game of trivia.

Which country in the world is sitting on the largest oil deposits?

[LivingTarget]

I go for luxembourg.....rofl

About oil, well i like drives bicycles
I don\'t worry too much about oil prices, the nasty thing is that sometimes when product X gets too high all prices on the other products go up. Which is bloody sad.

[=D.C.L.I=TuRb0jUg3nD]

The_Punisher Wrote:But time for a little game of trivia.

Which country in the world is sitting on the largest oil deposits?

Saudi Arabia is on top
Iraq next
Venezuela is ... fourth

So I guess the next question is, who is the worlds third ??ber-sheik in the oil deposit department? (Norway is nr. 7!)

[Smithcraft]

You should also remember that last year the US oil companies announced record profit margins, so I wouldn\'t blame it all on the competition between India and China and everyone else.

There are also quite a few more oil refineries than those three.

SC

[joeb]

=D.C.L.I=Everest Wrote:Frankly I don\'t get why Americans would be complaining so much about high oil prices. You need 3 dollars for a gallon? Over here, you\'ll need about 5 euros for 4 litres (1 gallon = 4,404883772 litres - 1 euro is 1.28878 - you do the math), if you\'re lucky to find it that cheap anymore. You think you\'re paying too much for your oil???

FINALLY someone said it