T Nation

I Guess the Greedy Arabs Want 100$ a Barrel Oil


What else could explain this?



OPEC has been talking about cutting back production since oil went under $100/barrel.

The yahoo article is a pile of crap. Oil prices have been bouncing around in the 70's since it first broke below 80 the other day.

The thing I have noticed is that when the price of oil falls, it doesn't get nearly the attention that it does when the price goes up - even if it is only a buck, or two.

It fell $6 the other day, and unless you were watching the prices or watching the financial shows - you wouldn't have even known it.

The press is absolutely pathetic.


I'm with you.

I make sure to take notice when it drops.

I think 100$/barrel could be a blessing in disguise. If they want to incentivize us to come up with alternative energy sources... then let it be.


I don't think the price needs to be much more than $60 to create a market for alternative energy.

Oil was less than $50 when Shell and energy companies started a bidding war for getting wind chargers into the Texas Panhandle. Granted, they were chasing more after tax credits than anything, but they are putting in the world's largest wind farms up here none the less.


The price of gas is on our local news all the time.

Every morning they have been talking about how it has been dropping due to the falling price of oil.

Maybe your local news sucks.

(Although I don't see how it could be worse than ours.)


Not only does falling price of oil not get covered, when it is mentioned, it's negatives.

"slowing economy, recession, less demand", etc. It's always negative. So if a high oil price is bad because it means the cost of everything will go up, a low oil price is also bad because that means we're slowing?

I'm happy with low oil prices. Gas prices will come down, and costs of goods that are transported "should" too.

And OP, of course they want that price to go up. They're in it for the money.


I have noticed this too. Personally, I think that speculators have been driving the prices of oil up by future trading. How else does oil go up in a day by like 13$ a barrel on threat of a hurricane for example?

They should be happy that prices have come down some. 150$ barrel oil or even 100$ barrel isn't good for the economy plus it gets people interested in conserving or alternative energy.

But I guess they are just a bunch of greedy bastards. Or maybe they aren't making enough money? Seems kind of ridiculous considering how much oil was 5 or 10 years ago and they weren't broke then.


I agree but the more expensive foreign oil the greater the urgency for alternative sources.


I don't get people who cry greed on the oil companies. That's the name of the game. If people don't like it they should use less.


Use less? My propane heating bill was 300$ a month last year for a 3 bedroom townhouse with the thermostat usually on 67 or 68.

Judging on what's happening with propane prices (because oil distillates follow oil) at one time I could have been paying 5 or 6 hundred bucks to heat my home; money that I could have spent otherwise. What the fuck am I supposed to do? Keep it at 52 and have my family walk around the house wearing jackets?


Oil prices are not the same thing as gas prices.

But yes - when gasoline prices make a big move up, or down, it gets some attention. However, before pump prices started falling - there was little mention of oil prices falling by 50% since July.

Whoever the fucknut is that wrote the article referenced by the OP makes it sound like oil prices have shot way up when in reality it was one of the smaller price moved of the last few weeks.

Oil is flirting with bub-$70, and closed below 70 only once during that time.


I didn't know not wearing a hooded sweatshirt in the winter was an inalienable right. To me it's common sense.

Seriously though the standard of living we are used to as Americans is not God given.

And when you say it's money you could have spend otherwise what are you talking about? You chose to heat your home over buying trinkets and that's commendable. Unfortunately a lot of people chose to heat their homes to a comfortable level and still spend their money otherwise. Those are the idiots.

Don't cry greed when it's all a business. Like I said do something about it. Drive less, turn the thermostat down, stock up on wood for the fireplace or wood stove for when you guys are home relaxing. Buying abundant amounts of fossil fuels just reinforces their prices. If demand lowers they are forced to lower prices.


Then put your money where your mouth is and start producing it.


Shell Energy already is. They have been for over 2 years.

You are one ignorant fuck when it comes to anything touching real life.


The thermostat is already at 67 and the amount of shit that I would have to deal with from the wife and the toddler to go any lower would drive me nuts. And besides, 67 is very reasonable and on the chilly side. It's not like I am like some people who keep it at 72 all year round.

What else could I spend my money on? Things that are necessary usually, but maybe other things that would otherwise help the economy. Things like consuming goods and services which help the economy. Also, ethanol is a very poor idea that has actually worsened the situation and directly raised food prices.

As for alternatives to heating homes, there are some interesting prospects on the horizon but as for now people are stuck with what they have. The best plan would be to tap our own fossil fuel resources here and develop them and prepare for the kind of massive transition that it would take to switch our energy infrastructure.


burn wood and quit bitching.


I know where you are coming from but 67 is chilly? I mean it might not be the ideal comfort level of the house but if you want to keep your house at an optimal temperature (say above 65) you are going to be paying a premium. You and your wife make a decision to live comfortable so you are going to pay more. Yeah it is more than it has been in the past but what are you going to do if you are unwilling to live within your means.

It's life...

All I'm saying is that we don't have the God given right to comfort. "On the seventh day God said 'Let there be indoor heating and plumbing'"


Actually I think it is our duty as Americans to keep if not raise our standards of living for posterity.

Actually I would keep it at 65 but it wouldn't fly too well with the wife or the toddler. Besides, with the prices of propane up about 60% or so from last winter, I would probably still pay more for my heating bill even if I did lower it by 2 degrees than I did last year. This is on top of paying more for food, goods and services due to ethanol and fossil fuel costs.


I agree as long as it's within our means and not an artificially inflated standard of living I think a lot of people try to live up to.


If you mean like the people who have no kids, live in a 4 bedroom house and drive 2 SUV's I guess. However, we should not have to walk around like Eskimos in our townhouses either.