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Oil Prices at new high!

Discussion in 'General Discussion' started by teaboy5, 14 Jul 2006.

  1. teaboy5

    Soldato

    Joined: 12 Jan 2006

    Posts: 5,561

    Location: UK

  2. spike's

    Mobster

    Joined: 28 Jul 2003

    Posts: 4,077

    Location: Hook

    :eek: oh great. :(

    just read that comment aswell, lets hope its not true.
     
  3. richard smith

    Wise Guy

    Joined: 12 Jul 2003

    Posts: 2,199

    Location: Colchester, Essex

    And it won't get cheaper... we're on the slow and steady road to running out of the stuff and world demand is set to double in the next 20 years...
     
  4. MookJong

    Sgarrista

    Joined: 20 Mar 2006

    Posts: 8,046

    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....
     
  5. calnen

    Mobster

    Joined: 5 Jan 2004

    Posts: 4,063

    Location: Chester

    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?
     
  6. daveyj27

    Wise Guy

    Joined: 18 Oct 2002

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    Location: NH USA (Brit Expat)

    And the rest.

    This latest action could in turn destabilise the entire ME region, hence the oil supply worries.
     
  7. Stringy

    Mobster

    Joined: 2 Aug 2004

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    Location: The moon

    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.
     
  8. Spacky

    PermaBanned

    Joined: 4 Jul 2005

    Posts: 5,815

    Location: Cardiff, UK

    What would happen if Oil ran out for ME countries? Would they fall into like a mini dark age there or something?
     
  9. calnen

    Mobster

    Joined: 5 Jan 2004

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    Location: Chester

    They reckon we all would - thats why people are worrying about peak oil etc.
     
  10. daveyj27

    Wise Guy

    Joined: 18 Oct 2002

    Posts: 1,231

    Location: NH USA (Brit Expat)

    "They"?

    We use more than they do mate, so you have a think about what kind of position we would be in if the black stuff stopped coming in.
     
  11. Raumarik

    Capodecina

    Joined: 14 Jul 2003

    Posts: 13,783

    think Mad Max style ;)

    So who would be Masterblaster? Gilly and monkeypants? :D
     
  12. teaboy5

    Soldato

    Joined: 12 Jan 2006

    Posts: 5,561

    Location: UK

    Was checking the price there and noticed we where 47 cents off hitting $80 a barrel. :eek: :eek: :eek: :eek:
     
  13. Tommy B

    Sgarrista

    Joined: 23 Nov 2004

    Posts: 8,027

    Location: The Place To Be

    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!
     
  14. ballistic

    PermaBanned

    Joined: 15 May 2006

    Posts: 2,278

    good news for Russia
     
  15. Posty

    Mobster

    Joined: 28 Feb 2004

    Posts: 4,009

    Many oil reserves still havn't been found or used yet, oil will be around for 100's of years still
     
  16. calnen

    Mobster

    Joined: 5 Jan 2004

    Posts: 4,063

    Location: Chester

    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?
     
  17. brocksta

    Wise Guy

    Joined: 23 Jul 2004

    Posts: 1,994

    Location: Dublin / Southend On Sea

    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:
     
  18. Posty

    Mobster

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    they arent economically viable yet
     
  19. Fraggr

    Mobster

    Joined: 29 Jun 2006

    Posts: 3,370

    Location: Sheffield

    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.
     
  20. Posty

    Mobster

    Joined: 28 Feb 2004

    Posts: 4,009

    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