Oil Prices at new high!

Soldato
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Soldato
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The price has gone up in relation to Israel's actions.

I believe in peak oil but this is more to do with the thought that production and shipment will be disrupted if the middle east starts fighting.

I would imagine that the price will drop back to 72-73 depending on what happens in Lebanon in the next few days.

Western society is all doomed eventually though....
 
Soldato
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Probably being dumb here, but why is a fight between Israel and Lebanon increasing the oil price? I didnt think either of those actually produced oil.. (?)
Is it because the investors are worried about it spilling over into Syria?
 
Soldato
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daveyj27 said:
And the rest.

This latest action could in turn destabilise the entire ME region, hence the oil supply worries.
Exactly, I wouldn't be overly surprised if Iran start sticking their oar in by supplying arms etc to all and sundry, and if that becomes an issue then it's a very combustible situation.
 
Soldato
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It's inevitable I'm afraid; We're all absolutely screwed*. If Bush had charged the Americans higher prices in the first place the demand might not have been so high.

*Although we'll be more screwed when the fights are over water!
 
Soldato
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Posty said:
Many oil reserves still havn't been found or used yet, oil will be around for 100's of years still

Thats not what the professionals are saying.. Obviously you know more than those on the news, unless you reckon they know about all this extra oil already and are hiding it to push the prices up?
 
Soldato
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brocksta said:
why dont car manufacturers hurry up and start producing electric powered cars? Theyve been around for ages, but no one seems to do them :confused:
they arent economically viable yet
 
Soldato
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brocksta said:
why dont car manufacturers hurry up and start producing electric powered cars? Theyve been around for ages, but no one seems to do them :confused:

They're not very efficient yet, but they will be one day.

Once the engine designs and stuff is sorted out, they will be able to make them more viable, however Hydrogen cells seem to be more popular, so we may never see mass produced electrical cars.
 
Soldato
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calnen said:
Thats not what the professionals are saying.. Obviously you know more than those on the news, unless you reckon they know about all this extra oil already and are hiding it to push the prices up?
Only 1 group of professionals are saying this not all, there is a big arguement among them over wether we are at the peak, i agree with the ones that say we aren't
 
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