Quote :

"Oil 'will hit $100 by winter' Worst-ever crisis looms, says analyst · Surging demand to keep prices high Heather Stewart, economics correspondent Sunday July 3, 2005 The Observer Oil prices could rocket to $100 within six months, plunging the world into an unprecedented fuel crisis, controversial Texan oil analyst Matt Simmons has warned. After crude surged through $60 a barrel last week, nervous investors were pinning their hopes on a build-up in US oil-stocks to depress prices in the coming months. But Simmons believes surging demand will keep prices bubbling well above $50. 'We could be at $100 by this winter. We have the biggest risk we have ever had of demand exceeding supply. We are now just about to face up to the biggest crisis we have ever had,' he said."

http://observer.guardian.co.uk/business/story/0,6903,1519745,00.html

I hope this guy is off his rocker.

7/4/2005 1:35:20 PM

great

i need a new motorcycle

7/4/2005 1:41:20 PM

hey salisburyboy

i mean pryderi

7/4/2005 1:42:02 PM

So Iraq was a waste then?

7/4/2005 2:03:33 PM

Many people involved with oil speculation and futures believe this. It hinges on China's increasing demand, but is very possible.

7/4/2005 2:09:28 PM

^^no, we succeeded in creating many more terrorists

7/4/2005 2:10:15 PM

I can write an article making outlandish statements, too.

I fucking hope it happens, though.

7/4/2005 2:47:57 PM

I know alot of people who are predicting at least $3/gallon this winter. And they cited China's oil demands as well.

If this does happen, then there will be far-reaching effects on the economy. (duh)

7/4/2005 2:54:56 PM

Quote :

"Many people involved with oil speculation and futures believe this"

Well not a whole lot otherwise the futures market wouldnt look like this,

http://futures.tradingcharts.com/marketquotes/

Edit: stupid website cant link directly, on the left hand side click on oil then click on NYMEX.

[Edited on July 4, 2005 at 3:18 PM. Reason : ]

7/4/2005 3:17:44 PM

the problem isnt the amount of crude oil, it is the capacity that we have state side to refine it

7/4/2005 5:34:45 PM

Quote :

"the problem isnt the amount of crude oil, it is the capacity that we have state side to refine it amount of a hike we'd be willing to swallow with the current geo-political climate."

7/4/2005 5:58:36 PM

deja vou, 30 years ago

7/4/2005 10:07:22 PM

Quote :

"the problem isnt the amount of crude oil, it is the capacity that we have state side to refine it"

Uhh.

Thats $100 per barrel of crude. Not Gasoline.

Oil companies will be making $profit though.

7/4/2005 11:29:06 PM

Quote :

"I fucking hope it happens, though."

I'm with you there...I wish gas was $5.00/gal to make all of the people driving around in these HUGE SUV'S by themselves think twice...

Mike

[Edited on July 5, 2005 at 2:15 AM. Reason : blah]

7/5/2005 2:15:30 AM

Now soccer moms are going have to decide which kid to take to practice... bah.

7/5/2005 3:04:09 AM

^Yes. Because we all know automobiles can't hold more than one person at a time and soccermoms are baby factories that have 6-10 children.

7/5/2005 8:10:28 AM

only the irish ones.

7/5/2005 8:18:53 AM

what?

you mean that the recreation of the muscle car and the huge number of gas guzzling vehicles on the road is leading us to another fuel crisis?

wow, nobody saw that one coming now did they...

i mean... it's not like anything like this has EVER happened before...

[Edited on July 5, 2005 at 9:04 AM. Reason : .]

7/5/2005 8:44:03 AM

7/5/2005 9:10:24 AM

fuck rationing, let that shit be $5 a gallon

7/5/2005 9:12:52 AM

Innovate faster, dammit.

7/5/2005 9:17:19 AM

~48mpg now

~60mpg in 2006 when low sulfur diesel hits the market

7/5/2005 9:22:25 AM

Hey

Where's that fag arguing about infinite resources and how cheap they are?

7/5/2005 9:28:10 AM

yeah you people would love gas to go to $5 a gallon, and then watch our economy absolutely crumble. it wouldnt just be gas that you'd be paying out the ass for at that point, it would be EVERYTHING

im as hopeful as the next person that gas mileage standards are increased and we look to other technologies to get us not dependant on oil as a nation, but come on, you HOPE gas goes to $5?

unbelieveable

7/5/2005 9:29:25 AM

guess who's in washington

...

BLAME PACKGUY

rabble rabble rabble

7/5/2005 9:48:02 AM

Quote :

"i tell you what, ima make this sumbitch run on propane and propane accessories..."

7/5/2005 9:51:01 AM

WTB fuel cell car

7/5/2005 10:51:32 AM

actually, if we were prepared for gas to go up to astronomical levels, it would be nothing but a good thing.

we'd only use local food, because food from outside of local areas would be impossible to access. Sure that would mean less variety, but it wouldn't mean we'd starve. we might have to *gasp* eat what's in season at the time! Eat less during certain seasons and eat more during fruitful ones!

oh no! oh god, no! You mean I can't have strawberries all year 'round?

[Edited on July 5, 2005 at 10:54 AM. Reason : .]

7/5/2005 10:54:19 AM

Quote :

"~48mpg now ~60mpg in 2006 when low sulfur diesel hits the market"

I <3 Diesel - just waiting for higher blends of biodiesel to come around here (using B20 now).

7/5/2005 10:56:42 AM

Quote :

"actually, if we were prepared for gas to go up to astronomical levels, it would be nothing but a good thing. we'd only use local food, because food from outside of local areas would be impossible to access. Sure that would mean less variety, but it wouldn't mean we'd starve. we might have to *gasp* eat what's in season at the time! Eat less during certain seasons and eat more during fruitful ones! oh no! oh god, no! You mean I can't have strawberries all year 'round? "

there is no viable reason to force ourselves to live like that when the technology can eventually be procured to lift us out of oil dependancy

7/5/2005 11:04:37 AM

For commuting to/from work and so on I would love to have a Hydrogen/Fuel-Cell powered car. Not just for the cost of fuel but because it would be a better and cleaner alternative.

I would save the big-gas guzzling trucks/SUVs for weekend recreation, etc.

Even if only the commuters driving to/from work switched to a non-fossil fuel source then there would be a DRAMATIC reduction in pollution. The work-trucks and other mass-transit vehicles are just a drop in the bucket.

7/5/2005 11:05:10 AM

Quote :

"there is no viable reason to force ourselves to live like that when the technology can eventually be procured to lift us out of oil dependancy"

there actually are tons of reasons to live like that. in my opinion, the best way to do non local foods is only for special occasions or if you need an ingredient or a certain nutrient source that you can't get locally. It's good to have them available, but I think that when you base your life around something that's dependent on external transportation to get it to you, you're asking for trouble.

consider something like a certain huge city in nevada that gets its water and energy from far away. imagine what would happen if, for some reason, we didn't have the energy necessary to sustain it anymore. the people there would be pretty screwed, out there in the middle of the desert, no running water, no air conditioning.

we're an amazing bunch, because we've figured out how to live in these places that wouldn't normally be inhabitable. We're equally stupid, though, because we don't have a backup plan for if the means we use to get to and sustain those places fall through... and they probably will.

7/5/2005 11:10:44 AM

Quote :

"when the technology can eventually be procured to lift us out of oil dependancy"

objection your honor, speculation

7/5/2005 11:25:05 AM

our backup plan is our gov't realizes we can invade saudi arabia

7/5/2005 11:37:23 AM

Japan's sendin playstations

7/5/2005 11:44:38 AM

key quote to article above:

Quote :

"controversial Texan oil analyst Matt Simmons has warned"

7/5/2005 11:46:12 AM

Afrika Boombatta and the Zulu nation is comin'

7/5/2005 11:53:07 AM

stankonia promised to drop some bombs over baghdad

7/5/2005 11:59:17 AM

HAY PACKGUY I CAN'T WAIT TILL GAS GETS TO BE $5 A GALLON

IMMA GET A JOB IN THE NEW WPO PAINTIN MURALS IN POST OFFICES

7/5/2005 11:59:40 AM

oh awesome! wpo!

i wanna build some new bridges and stuff!

[Edited on July 5, 2005 at 12:29 PM. Reason : .]

7/5/2005 12:28:51 PM

i don't see WTI going over $60/Bbl at the most.

Quote :

"the problem isnt the amount of crude oil, it is the capacity that we have state side to refine it"

you are 1/2 right. supply $ is of course a factor as we will pass on the cost to the consumer. more local supply - i.e. WTI, Delta, Mars, etc = cheaper. some of the sweeter local wells are drying up and there isn't enough incentive (due to cost of operation, environmental, etc) to really go after more.

most u.s. refineries are at capacity already. environmental regulations have decreased the efficiency in which refining units can operate (most were built pre-1960 and would upgrades costing hundreds of millions of $ that would not yield us enough roi to pursue) and have made it literally take an act of congress to erect new plants. u.s. based plants are the cheapest for u.s. residents as it is quite pricey to refine overseas, meet our specifications, and ship. also pipeline shipments (available for u.s. plants but not overseas) are the least costly mode of transportation, especially after the post-911 trasportation security tax on gasoline (roughly added $0.05 to $0.10 per gallon).

7/5/2005 12:57:06 PM

Someone pointed this out to me over the weekend:

- In Brazil sugar cane is processed to be used as fuel in cars. Vehicles there are manufactured to accept this fuel as well as gasoline. While this requires engines that are somewhat different, it wouldn't be a huge step for us to make.

- In the US, the government pays farmers to destroy their excess sugar crop so as not to fuck up the market.

7/5/2005 2:03:30 PM

^we could convert our cars to redbull and end the amount of striped shirted fags at bars all in one fell swoop

7/5/2005 2:18:02 PM

i'm glad i fill up once a month

7/5/2005 2:49:26 PM

yeah, every two months really here

unless i drive somewhere out of town

7/5/2005 2:54:24 PM

man

that would be SO nice

7/5/2005 4:20:08 PM

i put more miles on rental cars than i do on my own - thankfully that gas is paid for

7/5/2005 4:22:08 PM

Transporters.

7/5/2005 4:23:38 PM

I'm glad I live 1.5 miles from work

7/5/2005 5:52:01 PM

it's the guardian. the guy is off his rocker.

7/5/2005 5:57:07 PM