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The Forum > General Discussion > Oil prices and the party/Government Monopoly

Oil prices and the party/Government Monopoly

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It is interesting that the US has 700 million barrels of oil in reserves ,owned by the Govt if ever supplies become interupted.The US consumes 25% of the world's oil.They could quite easily consume some of their reserves thus putting downward pressure on prices.
Instead,Bush threatens OPEC with a law suit.While they dither,their own economy is faltering and their Govt loses tax revenue due to a shrinking economy.
Apparently we have only used 18% of the known world oil reserves and the rest should last aother 140yrs used at the present rate.
Greed and fear of global warming [or is it cooling?] has more to do with increased prices than real shortages.
Posted by Arjay, Saturday, 24 May 2008 1:35:17 PM
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ARjay
I think that the US would be reluctant to dip into their strategic reserve. It would depress the price for a while.
It would keep the US going for 35 days if their was a total interruption
to supplies.
However much they took out to depress the price would come back and bight
them when they started to replenish.

Nothing governments can do will stop shortages occurring in the long run.
All those reserves somebody mentioned are there but they are either too
expensive to extract or they take more energy to extract than you get
back. Its like the give me $10 and I'll give you $5.
Some of the reserves are vapour reserves as per Saudi & Kuwait.

I heard that the government dropped the subsidy on gas conversions
for cars, is that correct ? If so seems uterly stupid to me.
Posted by Bazz, Saturday, 24 May 2008 2:28:26 PM
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*this is from the woodside link
poor woodside [yea right]*

Well you are free to take your hard earned savings and buy
Woodside shares on the ASX.

The oil business is profitable on the whole, but hugely
risky. One dry hole today can cost 30 million $ and
not a single barrel of oil in sight. So its not for the
faint hearted. Lots of companies are drilling hole after
hole out there, nearly all dry. So those who risk and strike
oil, well good luck to them. I'm glad that there is at least
somebody out there risking and drilling.

Funny how people complain about the price of oil, but haven't
yet converted their cars to gas. Or they will pay more per
litre for bottled water or coke, then for oil. When petrol
hits 3$ a litre, no doubt people will learn not to waste it,
as they do now.
Posted by Yabby, Sunday, 25 May 2008 1:44:27 PM
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Hope I am given a right of reply if any one who reads my posts can find an element of my party right or wrong in them I will leave the forum.
I have never supported the child molester spoken of here on the record I have said time and again he and those who covered up for him should be castrated.
I would do that job as a public service.
Gladly
It is offensive to brand my whole party.
And it is wrong.
Greg who holds the seat of Charlton is from the party's left but won overwhelming support for his anti workchoices fight.
Tapp you call him scab?
I threaten no man with legal action fight my fights myself , moderate your blind hate mate.
arjay I charge you with being a my party right or wrong poster and with not understanding wrong exists on both sides of the house.
CAN you Stu explain why you posted as one under God?
Tapp I avoid you yet again but understand it is not fear but just respect for the forum that drives me to avoid your foolish rants.
Posted by Belly, Sunday, 25 May 2008 2:21:38 PM
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Yabby,it is not that easy to convert to natural gas.First of all,if you have an ageing vehicle it is better to buy a later model otherwise the capital outlay is useless.

Secondly Mr Rudd has taken the subsidy off gas conversions.Thirdly a lot a of people like myself are suspicious of the oil companies who own the gas,just jacking prices once they get more people on it.We don't hear Kevin Rudd giving any assurances of the stability in gas prices.LPG has more than doubled in price in two yrs.People will slowly convert as confidence grows.
Gas still has its problems with reliability and some people are concerned about the safety factor.
Posted by Arjay, Sunday, 25 May 2008 3:17:59 PM
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BELLY POSTED
CAN you Stu explain why you posted as one under God?

DEAR belly i am not 'STU'
i reposted his link [as i previously wrote]
because i feared some one would get it deleted

Enough of this distraction
please

im given to understand from your posts you have some linkage to labour [or the unions] ask kevin about johan[thats me]
i have no idea about'STU'
he no doudt has less idea about me

please can you post to topic
the topic is oil prices

perhaps kevin hasnt a solution but that is because he stopped listening ,seems labour unions now have his attentions

we X unionists know well the unions sold us out to howard long ago
but that isnt the topic
nor is child molesters stu

i do however know what you are refering to runs very deep in nsw and queensland [it seems party loyaly is most loyal when they got the ;dirt 'on their nominess ,

[but i feel its a cross party thing]
party loyalists will be the death of us all

please do not expect further off topic response
adressed to no one in particular
lets talk about OIL alternatives, joe fuel cell anyone?
Posted by one under god, Sunday, 25 May 2008 4:35:05 PM
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