I don't really think the guy made that much sense. First of all the price of oil IS controlled by a supply and demand economy. Right now demand is high with India and China coming in as big purchasing players. There's only so much production capacity to satify the three large consuming countries. As of '07 there were 30,451,000 barrels of oil in production per day out of a capacity of 32,230,000 barrels of oil per day.
http://en.wikipedia.org/wiki/OPEC As you can see, production is just about tapped out. What is changing is everyone wants more of it.
Sure speculators have probably driven up the price of oil a bit this year, but they are not the evil villains O'Rilley is making them out to be. And besides, we have speculators in just about any market that has a value and a fluctuation in price.
User106.22.08 - 8:02 pm
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WOW, thanks for sharing that. I thought for sure O'Riely would have to be looking for another job after that, then he concluded with his, "unless Iran does something crazy" and I knew there was some reason for that rant.
Unless, this was produced so that those that wouldn't believe a word out of O'Reily mouth, think that what he said wasn't true
sexy06.22.08 - 8:03 pm
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Dave,
These numbers are pretty much the same numbers. It's just that one takes into account the natural gas liquids (NGL) and one doesn't.
User106.22.08 - 8:39 pm
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Oops Al, I meant Bill ORLY made SOME sense. Which is highly unusual and a step up, IMO.
ephemerae06.22.08 - 8:51 pm
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please please please
MY NAME IS NOT DAVE. If you must call me by my legal name, it is David, If not refer to the sign in name "SEXY."
32bbd is alot less less 86bbd, that not the same numbers
sexy06.22.08 - 9:35 pm
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I try when possible to stop perpetrating the use of biblical names. Yours happens to be one of them that I can avoid using by using "Dave." I hope you can accept my right to avoid the use of biblical names.
I also have seen you refer to me as "Al". How can you make such demands when you yourself break these laws?
In regards to your reference. You are looking at world production capacity. I'm referring to OPEC capacity since that's what O' Riley is referring to. If remove the production of NGL, the production in the neutral zone, and look at just the OPEC countries, the numbers are just about the same.
User106.22.08 - 11:14 pm
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You got'ta be a complete dick to use an excuse like that not to call someone by thier real name. loser1 is an uptite virgin.
Satan on a Tricycle06.23.08 - 2:54 am
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So Mr. O'Reilly says the problem stems from the fact that the desert people are keeping output low to keep prices artificially high.
I say that the OPEC nations would be crazy to increase oil output simply because that resource is the only thing that gives them any power or influence. Some oil researchers have been claiming that countries like Saudi Arabia and Iran have been inflating their reserve numbers for years, and may soon not be able to keep up with current output, much less increase it. The Oil Drum just posted an article about the fact that over the last three years, Saudi Arabia has repeatedly committed to increasing oil production and have never followed through. http://europe.theoildrum.com/node/4202 I think it is possible that we are simply approaching the end of the cheap oil era, and that business interests of various kinds want you to keep believing that there's a simple solution and a drop in gas prices around the corner.
Now, whose fault is it that we have no viable alternative energy sources and have constructed a society that depends almost completely on one precious resource to supply most of our necessities?
angle06.23.08 - 3:10 am
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it's naive to think that oil prices are subject to market forces. there is a military/political factor that skews everything. and exactly which corporations are actually pumping oil from these OPEC nations? I'm too lazy to google but I'm willing to bet that the corporations that actually pump the oil are not majority owned by the nations themselves.
Roadblock06.23.08 - 9:58 am
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USER 1
Thanks for explaining your reason for not using either my sign in name or my legal name when addressing me on this forum. I apologize for calling you Al, if that is not your proper name. Most people have been very good about not using this website for religious forums. You have brought up religion over and over again on this forum. Most people have no interest in this topic, and your choice to bring to it up is your to make. You may not like religion, but may I remind you in the country we live it is among a constitutional right to have freedom of religion. It is the law of the land. My parents where both Catholics and took their religion very seriously, that may be why they named me after character from the bible. It was there choice and I respect the name they gave me, I would hope you would do the same. If it is that difficult to address me by my legal name, I have a sign in by the name of "Sexy" that you can address me by. Most people on this forum call me by "Sexy" on this website and in person. I understand Dave is derived from David. I would prefer you not address me by Dave.
I'am curious, USER1 Did you ride on any of the Freeway Rides?
sexy06.23.08 - 11:07 am
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i would very much like to add something intelligent to this conversation but would require i watch that o'reilly clip from FOX news. this, i can not bring myself to do.
indigis06.23.08 - 11:22 am
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My understanding to this day, is that the Saudis control what amount of oil is pumped and is not pumped. The maximum the Saudis can pump a day is 12bbd, they are now at 8bbd. The Saudis have a huge reserve of cash and can pump to capacity to lower the prices of oil, so that countries that don't go along with the quotas will suffer financially, by lowering the price. This has been done by the Saudis in the past with various countries
The major oil companies have profit sharing agreement with the Saudis and many of the Opec countries. It is in both parties interest to get oil to the highest price people will pay. Even if they sell 25% less at $5 gallon, they are still making more then selling it at $3 gallon with that %25 purchasing there product
I have heard that and have seen different numbers that they are pumping at capacity and have no major new pools to drill from. I have also heard and seen numbers that the world is awash in new oil pools.
From the evidence that I have seen, it makes more sense to me that there is still a huge reserve of oil, and that peak oil theory is making less and less sense. I don't know for sure either way.
sexy06.23.08 - 11:23 am
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idigis WATCH IT, you may be surprised, I was. ephemerae said his brain almost exploded. It will be worth your three minutes. Plus I would like to here what you have to say about this.
sexy06.23.08 - 11:26 am
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RB -
it's naive to think that oil prices are subject to market forces. there is a military/political factor that skews everything. and exactly which corporations are actually pumping oil from these OPEC nations? I'm too lazy to google but I'm willing to bet that the corporations that actually pump the oil are not majority owned by the nations themselves.
Me -
Well I guess I'm naive cause I believe that market forces contribute to the price of gas. I also believe that there's far more that contribute to the price of gas too. Nation's conflicts, nation's trade policies, weather, and even people's fears.
I would bet that the UK and US companies are the ones doing the actual pumping of a large percentage of the crude oil.
BTW, I never got my confirmation for "Mr. Absolute Ruler of All Men" can you see what the problem was on it?
User106.23.08 - 2:53 pm
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Ridazz Roulette!
