Comments on: Oil Price over $105 a Barrel, OPEC Doesn’t Flinch

By: mark the beekeeper

mark the beekeeper — Sun, 27 Apr 2008 05:29:37 +0000

just went to fill up my truck with diesel to find the price was $1.75 per litre . It is nearly at a point where diesel is approximately the same price per litre as the wholesale price of honey. Its time for me to find another life . I can go broke sitting on the beach enjoying myself . When we can make diesel out of almost anything what are we doing . time to say goodbye opec and do our own thing

By: Captain Howdy

Captain Howdy — Mon, 21 Apr 2008 08:08:44 +0000

There's no better cure for high prices than high prices.

By: Diggin it!

Diggin it! — Mon, 21 Apr 2008 02:56:09 +0000

Don`t forget the stone age didn`t end becuase they ran out of stones! The oil age and prices will end before they run out of oil!

By: Paul

Paul — Sun, 20 Apr 2008 13:11:07 +0000

Indeed Richard is right. Peak Oil is the prime reason for increasing oil prices.

Expect to see huge increases in the price of oil over the next few years and beyond.

An excellent intro to Peak Oil can be found at:-

http://www.energybulletin.net/primer.php

By: Richard

Richard — Sun, 09 Mar 2008 12:31:20 +0000

It's Peak Oil, do a google search and find out what's going on in the oil market...

By: John

John — Fri, 07 Mar 2008 20:19:20 +0000

Why would OPEC do anything when they're exchanging a barrel of oil for 105 pieces of paper that used to be worth an ounce of gold but now barely buy a tenth of that?

I don't think the real price of oil is going up just yet.

By: dexter bland

dexter bland — Fri, 07 Mar 2008 05:26:58 +0000

I am inclined to believe the OPEC line that it is the large flows of speculative money driving up the oil price rather than the true supply/demand fundamentals. The cost to produce a barrel of oil is still around $30 for most producers suggesting that far more marginal fields could be produced if the price stayed at these levels in the longer term.

Having said that I believe that we are starting to see a pay-off in recent investment in energy technologies. Particularly exciting are the advancements in energy storage such as lithium batteries that are enabling hybrids and eventually fully electric vehicles to finally become a reality. That almost all the major car manufacturers have this type of vehicle on the drawing boards is a sign that we could be looking at a genuine and lasting shift away from oil dependence. Electricity is every bit as versatile a form of energy if it is able to be stored effectively. It is much cheaper, lower in emissions, and can be generated from a diversity of sources depending on local economic and environmental factors.

Oil is having one final run but is sowing the seeds of its own destruction as it now has become uncompetitive - to add to the long list of undesirable effects it has on the world.