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You are here: MacNN Forums > Community > MacNN Lounge > Finally, the burst in commodity prices? Oil and gold dropping quickly.

Finally, the burst in commodity prices? Oil and gold dropping quickly. (Page 2)
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Dork.
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Sep 16, 2008, 08:31 PM
 
You're kind of limited as to where you can put offshore oil rigs, right? Don't you need to put them where the oil is?
     
smacintush
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Sep 16, 2008, 08:34 PM
 
There's plenty of oil in those areas where drilling is banned. Both coasts.
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Wiskedjak
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Sep 16, 2008, 09:46 PM
 
Originally Posted by smacintush View Post
There's plenty of oil in those areas where drilling is banned. Both coasts.
Plenty of oil, but not nearly enough to do much good given America's rate of oil consumption. A couple years of use at best.
     
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Sep 16, 2008, 09:49 PM
 
Originally Posted by smacintush View Post
I just wanna congratulate the government for legislating a situation where all of our offshore rigs and refineries are in hurricane alley.
I suspect the oil companies don't mind that one bit. It gives them an excuse for jacking prices and then lower them to a level higher than pre-damage.
     
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Sep 17, 2008, 04:19 AM
 
Originally Posted by Wiskedjak View Post
Plenty of oil, but not nearly enough to do much good given America's rate of oil consumption. A couple years of use at best.
The north shore has at least 200 years worth of current consumption supply. But if you get it from the north shore, you can't get foreign nations to absorb your national debt. That's the real reason it's banned - you get it from there and your national debt spirals too much, bankrupting you almost overnight.
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Big Mac
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Sep 17, 2008, 04:35 AM
 
Originally Posted by Doofy View Post
you get it from there and your national debt spirals too much, bankrupting you almost overnight.
I think that horse left the barn long ago. But for the sake of argument, didn't you once write that the national debt was a figment of the fractional banking system?

"The natural progress of things is for liberty to yield and government to gain ground." TJ
     
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Sep 17, 2008, 04:54 AM
 
Originally Posted by Big Mac View Post
But for the sake of argument, didn't you once write that the national debt was a figment of the fractional banking system?
Yup.
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Big Mac
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Sep 17, 2008, 05:17 AM
 
So then, those two statements on the subject seem contradictory.

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Doofy
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Sep 17, 2008, 05:38 AM
 
All money is a figment of the fractional banking system. Including the extra tax you'd have to pay to service the debt.
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Eug  (op)
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Sep 18, 2008, 12:23 AM
 
Originally Posted by Eug View Post
Oil now down below $95 US. Yet, gas prices are at record levels. WTF?

Wholesale gasoline prices hit well over US$5 per gallon last week. They're at about $1.38 in Toronto, and were up to $1.50 in Montreal.

Yeah, Ike and all that, but as usual, the companies seem to have overcompensated.
Gas here in Toronto now under $1.20, even though oil is up to US$97.
     
legacyb4
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Sep 18, 2008, 09:25 AM
 
Or more simply, "they want to increase prices".

Originally Posted by Wiskedjak View Post
Exactly. I remember hearing, a few years ago, that one of the states, Connecticut, I think, was requesting to be able to increase their rates because too many of their customers were consuming less.

They want to increase prices when demand exceed supply, and they want to increase prices when demand is *less* than supply.
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Dakar V
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Sep 18, 2008, 09:31 AM
 
My local gas prices have dropped to pre-hurricane levels.
     
Eug  (op)
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Sep 19, 2008, 10:08 AM
 
Originally Posted by Dakar V View Post
My local gas prices have dropped to pre-hurricane levels.
My local gas prices are now below pre-hurricane levels:
Originally Posted by Eug on Monday View Post
Oil now down below $95 US. Yet, gas prices are at record levels. WTF?

They're at about $1.38 in Toronto, and were up to $1.50 in Montreal.
Originally Posted by Eug on Thursday View Post
Gas here in Toronto now under $1.20, even though oil is up to US$97.
Today, they're at $1.13. Huge drop in the last week. A full 25 cents, or 18% since Monday.

The interesting part is that this despite the fact that oil is now back over $100 per barrel ($102).
     
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Sep 19, 2008, 02:19 PM
 
Last Friday gas was $6 /gal, now they're back down to $3.60ish. Crazy stuff.


However, our local DA is doing her job, all the station owners who jacked their prices over $4.49 (98% of them) are being indicted for price gouging.
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Dakar V
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Sep 19, 2008, 02:20 PM
 
$6! That's ridiculous.
     
Doofy
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Sep 19, 2008, 02:27 PM
 
Originally Posted by Dakar V View Post
$6! That's ridiculously cheap.
Fixinatednessish.
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Dakar V
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Sep 19, 2008, 02:29 PM
 
Yeah, not in the US.
     
Shaddim
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Sep 19, 2008, 02:31 PM
 
I never paid those prices. When we heard that gas was going to climb rapidly, we topped off our vehicles.
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Dakar V
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Sep 19, 2008, 02:32 PM
 
Yeah, I was able to ride it out unintentionally.
     
Doofy
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Sep 19, 2008, 02:38 PM
 
(Fishes receipt out from 4 days ago).

£1.174/litre = £4.44/gallon = $8.16/gallon.

Hmmm. Not as bad as I thought.
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Dual Porpoise
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Sep 19, 2008, 02:59 PM
 
Originally Posted by Doofy View Post
The north shore has at least 200 years worth of current consumption supply.
What makes you think that? The United States Geological Survey has estimates it is only about 6 months worth.
     
Doofy
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Sep 19, 2008, 03:17 PM
 
Originally Posted by Dual Porpoise View Post
What makes you think that?
Knowledge.

Originally Posted by Dual Porpoise View Post
The United States Geological Survey has estimates it is only about 6 months worth.
Originally Posted by Sarah Palin
With Russia wanting to control a vital pipeline in the Caucasus, and to divide and intimidate our European allies by using energy as a weapon, we cannot leave ourselves at the mercy of foreign suppliers.

To confront the threat that Iran might seek to cut off nearly a fifth of world energy supplies... or that terrorists might strike again at the Abqaiq facility in Saudi Arabia... or that Venezuela might shut off its oil deliveries... we Americans need to produce more of our own oil and gas.

And take it from a gal who knows the North Slope of Alaska: we've got lots of both.
D'ya really think she's talking about six months' worth?

The 200 years figure is from my own sources. I knew about this before I'd even heard of Palin.
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Dual Porpoise
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Sep 19, 2008, 03:20 PM
 
Originally Posted by Doofy View Post
The 200 years figure is from my own sources. I knew about this before I'd even heard of Palin.
This from the woman who said that Alaska provides 20% of the US energy needs? So what exactly makes you think that there are 200 years worth of oil use on the North Shore when the USGS says it's only six months? Forgive me if I find your explanation of 'my own sources' a little flimsy.
     
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Sep 19, 2008, 03:21 PM
 
Troll hungry.
     
Dakar V
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Sep 19, 2008, 03:29 PM
 
Now I wonder who Dual Porpoise is.
     
Dual Porpoise
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Sep 19, 2008, 03:30 PM
 
Originally Posted by Dakar V View Post
Now I wonder who Dual Porpoise is.
???
     
Dakar V
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Sep 19, 2008, 03:31 PM
 
You sound like someone who's been here before, perhaps still is.
     
Doofy
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Sep 19, 2008, 03:32 PM
 
Originally Posted by Dual Porpoise View Post
This from the woman who said that Alaska provides 20% of the US energy needs? So what exactly makes you think that there are 200 years worth of oil use on the North Shore when the USGS says it's only six months? Forgive me if I find your explanation of 'my own sources' a little flimsy.
Yeah, whatever dude.
You carry on being screwed by the system - don't make any difference to me.
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Doofy
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Sep 19, 2008, 03:34 PM
 
Originally Posted by Dakar V View Post
Now I wonder who Dual Porpoise is.
zombie punk/Peeb, perhaps?
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Dakar V
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Sep 19, 2008, 03:35 PM
 
I still see zombie post occasionally. But that'd be retarded if they defaulted a 3rd account...
     
Dual Porpoise
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Sep 19, 2008, 03:38 PM
 
Originally Posted by Dakar V View Post
You sound like someone who's been here before, perhaps still is.
Perhaps there just aren't that many ways to respond to someone who sounds like they're just making stuff up and trying to pass it off as fact.
     
Dual Porpoise
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Sep 19, 2008, 03:40 PM
 
Originally Posted by Doofy View Post
Yeah, whatever dude.
You carry on being screwed by the system - don't make any difference to me.
Doofy, I thought it was a pretty reasonable question - you made the claim that there are 200 years worth of oil in the North Shore. That's surprising, given that no one who has an experience with the oil business (not even the companies wanting to drill there) thinks that. Can you explain why you made that claim?
     
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Sep 19, 2008, 03:49 PM
 
Originally Posted by Dual Porpoise View Post
Can you explain why you made that claim?
Yes. I made the claim because it's the truth.

Now, if you dig around you can find the info for yourself. But I ain't going to put it on a platter for you.
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Dual Porpoise
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Sep 19, 2008, 04:00 PM
 
Originally Posted by Doofy View Post
Yes. I made the claim because it's the truth.

Now, if you dig around you can find the info for yourself. But I ain't going to put it on a platter for you.
Well, it's a rather outlandish claim, and without any supporting evidence it isn't very plausible. Your inability to substantiate it in any way speaks volumes to your credibility in this discussion.
     
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Sep 19, 2008, 04:00 PM
 
Originally Posted by Dual Porpoise View Post
Perhaps
Perhaps, but not bloody likely.
     
Doofy
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Sep 19, 2008, 04:39 PM
 
Originally Posted by Dual Porpoise View Post
Well, it's a rather outlandish claim, and without any supporting evidence it isn't very plausible. Your inability to substantiate it in any way speaks volumes to your credibility in this discussion.
Is there something wrong with your Google?
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Dual Porpoise
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Sep 19, 2008, 04:46 PM
 
Originally Posted by Doofy View Post
Is there something wrong with your Google?
Apparently. I can't find anyone credible who thinks there is more than 6 months to a year of oil there. Again, please do everyone the common courtesy of explaining why you made such an outlandish claim.
     
Doofy
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Sep 19, 2008, 05:07 PM
 
Originally Posted by Dual Porpoise View Post
Again, please do everyone the common courtesy of explaining why you made such an outlandish claim.
Again, I made the claim because it's the truth.

Oooo. It's "everyone" now. I'm scared.
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Dual Porpoise
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Sep 19, 2008, 05:10 PM
 
Originally Posted by Doofy View Post
Again, I made the claim because it's the truth.
Oooo. It's "everyone" now. I'm scared.
Riiiight. I think we're done here. It's common courtesy to everyone reading that when you make a claim that is not supported by anyone else to explain your reasoning or your sources. Since you're just playing at trying to give everyone the run-around here and not contributing to the discussion at all, I'll say goodbye to you. I'm done feeding.
     
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Sep 19, 2008, 05:10 PM
 
Originally Posted by Doofy View Post
zombie punk/Peeb, perhaps?
yeah, seems to be another peeb alias.
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Sep 19, 2008, 05:18 PM
 
Originally Posted by Shaddim View Post
yeah, seems to be another peeb alias.
Sorry? Is there an 'in-joke' I'm missing out on, or does Doofy just always go on like this?
Shaddim - are you agreeing with the 200 year estimate?
     
Shaddim
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Sep 19, 2008, 05:26 PM
 
I don't care about the 200 year estimate. It's all artificially manipulated by TPTB.
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Doofy
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Sep 19, 2008, 05:29 PM
 
Originally Posted by Dual Porpoise View Post
Riiiight. I think we're done here.
We were done a while back. You just didn't realise it.

Originally Posted by Dual Porpoise View Post
It's common courtesy to everyone reading that when you make a claim that is not supported by anyone else
By anyone else other than the next VP of the USA, you mean?

Originally Posted by Dual Porpoise View Post
I'll say goodbye to you.
Toodle pip.
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Dual Porpoise
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Sep 19, 2008, 05:49 PM
 
That was the most pointless waste of time I've had in a while, apparently I was the butt of a joke where the setup is to pretend that you are having a debate, when in fact you're just making things up. Hilarious. I'm literally on the floor, rolling with laughter. The wit! The charm! Change but a syllable and the whole delicate epigram collapses.

---
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View Post / Remove user from ignore list
     
Shaddim
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Sep 19, 2008, 06:03 PM
 
Just put me on that list too, buttercup.
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Dual Porpoise
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Sep 19, 2008, 06:06 PM
 
Gladly. You won't be missed.
     
Shaddim
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Sep 19, 2008, 06:52 PM
 
Back to important matters...


It's interesting that gas prices seem to have little, if any, connection with oil. The news just reported that the local pump prices have dipped to $3.29 this evening, despite oil nosing back over $100 /barrel.
"Those who expect to reap the blessings of freedom must, like men, undergo the fatigue of supporting it."
- Thomas Paine
     
Dual Porpoise
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Sep 19, 2008, 07:05 PM
 
What's interesting about that?
     
Shaddim
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Sep 19, 2008, 07:57 PM
 
Originally Posted by Dual Porpoise View Post
What's interesting about that?
You put me on ignore, keep it that way.
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- Thomas Paine
     
Dual Porpoise
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Sep 19, 2008, 08:08 PM
 
I didn't put you on ignore - by the way - why the hostility? What have I done to you to deserve the amount of aggression you're directing at me? Or are you just like that with everyone?
     
 
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