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stongle

Crazy Elk. Mooooooooooo
Aug 23, 2002
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The Wynn
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everyone wanting to buy it, and the fact its becoming less available.

Not quite true.

The USD is in the toilet, and as the price of oil is quoted in USD it means it takes more USD to buy a barrel hence the price. The declining value of the USD also means that investors are looking for safehavens for the monies, hence they invest in commodities such as oil, gold or even uranium etc.

As to declining supplies, this is only true in a sense. Although we may have reached peak capacity for easy to reach oil, i.e. (a lot of the stuff that OPEC pump) the world has vast untapped reserves. Either these require deeper drilling or more complex refining processes, however all that is happening is the world is running our of cheap oil. With oil even at 80-90USD per barrel (rather than yesterdays USD 146), refining of oil shale and other techniques start to become viable. Of course it takes time for refining and extraction techniques to change, but a lot of the hysteria around "peak oil" and running out of supplies is hyperbole (or a rather effective method of the Govt extracting revenue by Green taxes).

Despite all this, in the short term, things will get more expensive until either the USD increases in value or oil production increases.

And now your all a little bit brighter.
 

Skeet

Platinum Member
As for scarcity. I was looking up info a while back regarding %'s of yeild from a barrel of Crude.

Anyway, I came a cross a site, that stated that under Northern Canada, there is a enough Oil, to supply the world, for the next 100 years.

http://media.www.browndailyherald.com/media/storage/paper472/news/2006/01/31/Columns/Laura.Martin.06.The.Dirty.Truth.About.Canadas.Oil.Sands-1545211.shtml

So, there you go.

That wasn't the original site I looked at, which stated "enough for the World" as far as I recall.
 

!xobile

Canadian assassin
Dec 24, 2007
101
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Land of the Igloos
Anyway, I came a cross a site, that stated that under Northern Canada, there is a enough Oil, to supply the world, for the next 100 years.
:D
do realise too that a lot of these prices come from the estimated costs. For example, the price per gallon is going up. Therefore all those that predict stuff (futures market-various analysts put current prices on future oil depending on what the current market and then purchase it. So, if they think in 10 years it will be $15 a gallon, and they buy a bunch for that price, in 10 years that's how much it will cost)Because of that prediction, the prices in fact increase. Same with the apparent food shortage. There is one only because it is predicted that one will happen. There is none at this particular.
Funny that in Saudi Arabia, the cost per gallon is $.33 and yet, here in Canada we're paying $1.36/L
how much do you guys pay?
 

onasilverbike

I'm a country member!
Around £1.20 or $2.40/l, consider yourself lucky, still don't get the cost of diesel in the UK though, driving to Toulouse the price of petrol was about the same whereas diesel was between 1.42€ and 1.50€ or £1.14to £1.20/l but the reason given recently for the price of diesel in the UK having overtaken petrol (about £1.33/l at the moment) is due to the "extra refinement" during production, though I will admit that the Silver Bullet seems a bit less refined after a couple of tanks full of French diesel.

Back to paint, I was told today that the rises in costs to distributors/retailers is likely to be around [/FONT]£1.50 a box.