Thread: Fuel prices

And the good news??? Your still driving a vehicle that effectively uses a byproduct!

However how come it took over 100 years for the price of oil to reach $32 barrel and in the 7 years of Dubilya's US Presidency the price of crude oil has more than tripled? The oil still comes out of the ground by the same means without any new technologies, there haven't been any oil fields drying up but there has been instability in 2 oil regions. The first because G. W. deciding the invade Iraq because of what we now know were lies and the Bush Administration knew it, but as Donald Rumsfeld was rumoured to say "That's Our Oil". The second was instability in Venezuela because the Venezuelan President wanting socialist control of it's own oil reserves which was against US and therefore Bush's interests.


The law of demand and supply also applies. What about the demand of the developing countries India and China, their middle and upper classes are rapidly growing and now they want cars and the same lifestyle of the more affluent Western world. I was in China 30+ years ago, thousands of bikes on the roads, several lanes for them and only one for the few cars. Over there again last year now in Beijing bicycles have almost disappeared and the roads are chockers with cars and also pollution with the blue sky replaced by a murky grey smog. I saw figures for the amount of new cars sold in a week in Beijing and that makes Australian annual figures look pathetic. Plus all the new factories going up,all have a big demand for fuel and that affects the world prices. The same is happening with the minerals, WA cannot meet the demand from these two countries and their prices are going up rapidly....which is good for the Australian exporters but we pay for it in the end.

The question is what was the amount of crude oil produced 30 years ago as against now then look at the demand for the finished product 30 years ago and now. There is a strong resemblance to the rent now being charged, more money around, demand, people want it so they will bid outside the 'set' price just so they can obtain a(overpriced) unit or house.

It just keeps going up and up just hit $1.75 a litre in Alice.

My God!......Some other town has dearer deisel then Karratha, $173.9 cents/litre. I guess when you truck it down from Darwin.

Yep, and LPG still sits at 99.9 c a litre here. Dual fuel engines are fast becoming the cheaper alternative even with the efficiency of deisel.

BradM

Originally Posted by Lotz-A-Landies

Ralph

I never suggested that G Dublilya was responsible for the lack of water in the Murray (That was John Howard's fault - Just kidding).

However how come it took over 100 years for the price of oil to reach $32 barrel and in the 7 years of Dubilya's US Presidency the price of crude oil has more than tripled? The oil still comes out of the ground by the same means without any new technologies, there haven't been any oil fields drying up but there has been instability in 2 oil regions. The first because G. W. deciding the invade Iraq because of what we now know were lies and the Bush Administration knew it, but as Donald Rumsfeld was rumoured to say "That's Our Oil". The second was instability in Venezuela because the Venezuelan President wanting socialist control of it's own oil reserves which was against US and therefore Bush's interests.

There is plenty of evidence about Bush's involvement in oil, he was CEO of an oil exploration company that failed and the rest of the Bush clan, including the former President George H.H. Bush, still have major shareholdings in oil companies and are personal friends of the Saudi Royal Family and the Bin Laden Family.

It isn't a long bow at all, it is more like a dart that hits the bullseye.

Diana

Originally Posted by CraigE

Yep, I agree 100%.
There is also one other factor and that is the price of obtaining a barrel of oil in the US is about $32 US a barrel. So US oil barons make a lot less than the middle eastern countries where their cost is about $2 US a barrel. It is the US propogating overinflated prices, by ensuring instability in foreign oil markets and supply. OPEC have stated that they would be quite happy with oil at $38 US a barrel.
Supply and demand, B/S.

Ok,
Let's agree to disagree shall we?

You may well be proved correct when the price of crude falls after G Dubbya's gone.
Until then can we still be friends?

Ralph