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Old 06-21-2005, 10:54 AM  
sd4chiefs sd4chiefs is offline
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$60 a barrel! Now its getting scary.

http://news.yahoo.com/news?tmpl=stor.../oil_prices_30


NEW YORK - With oil prices marching to new heights of close to $60 a barrel, the president of OPEC said Monday the group will consider raising its output ceiling by half a million barrels as early as this week.

The Organization of Petroleum Exporting Countries raised its output target by that amount just last week. The move appeared to have little impact on prices, which have risen by almost $12 a barrel in the past month because of concerns about limited refining capacity and rising demand for gasoline and diesel.

Light sweet crude for July delivery climbed 38 cents to $58.85 a barrel in afternoon trade on the New York Mercantile Exchange. Earlier, prices hit $59.23, an intraday record on Nymex, where oil futures have been traded since 1983.

Gasoline prices in the U.S. average about $2.13 a gallon, an increase of more than 40 percent over the past two years, but government data released last week showed that demand is up almost 3 percent from a year ago over the past four weeks at nearly 9.5 million barrels a day a growth rate that surprised many analysts.

While soaring jet fuel costs have been a major problem for the airline industry, higher energy prices have not taken as much of a toll on the broader economy as analysts had previously feared. In the first three months of the year, the U.S. economy grew at a 3.5 percent annual rate, according to the Commerce Department, slightly slower than the 4.5 percent pace a year earlier.

The prospect of another attempt by OPEC to cool prices did not impress brokers, who said the effort could actually backfire by highlighting the group's dwindling excess production capacity.

Still, "it looks like we might have difficulty holding these levels," said Mike Fitzpatrick, an oil broker at Fimat USA in New York. "You're seeing a great deal of reluctance among buyers to pay these higher prices."

Oil analyst Andrew Lebow at Man Financial in New York said "once we're in this $55-$60 area, it's been kind of hard to justify. But it is what it is. It seems like we'll hit $60 at this point."

Brent crude for August delivery broke the $57.65 per barrel peak it reached last April to set a new high of $58.58 Monday on London's International Petroleum Exchange. It later fell back to $58.01 a barrel, up 25 cents.

OPEC President Sheik Ahmed Fahd Al Ahmed Al Sabah said Monday that "if the prices continue to the end of this week at the same level, I will start consulting my colleagues to release the 500,000." Asked by reporters in Kuwait what he meant by the end of this week, the minister said Friday.

Last week the oil cartel agreed to raise its official production ceiling to 28 million barrels, starting July 1, but that failed to soothe traders because OPEC's output is already exceeding that level as producers seek to cash in on high prices. Including Iraq, which is not bound by the quota system, OPEC is pumping close to 30 million barrels a day, or about 35 percent of global demand.

Another development brokers were watching on Monday was the threat of a strike by oil workers in Norway, the world's third-largest exporter. A strike could begin as soon as Wednesday because of a salary dispute, potentially slicing the country's daily output of 3 million barrels by a third.

"If you take off 1 million barrels a day in this market, it's going to get ugly," said oil broker Tom Bentz of BNP Paribas Commodity Futures in New York. "Let's just hope it doesn't happen."

While Nymex oil futures are more than 50 percent higher than a year ago, they are still below the inflation-adjusted high above $90 a barrel set in 1980.

Analysts said unlike the record prices last year, which were driven largely by concern over geopolitical events in oil-producing countries such as Nigeria, Saudi Arabia, Iraq and Venezuela, this year's trend has more to do with speculative buying, continued supply fears and limited excess production capacity.

____
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Old 03-23-2013, 06:26 PM   #136
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Originally Posted by Comrade Crapski View Post
I asked him to talk about all the good things that have happened since 2008 and he talked about things that happened before 2008.
The part where you blamed the crash on Bush policies (and then went on to admit that the policies had in mind actually preceded Bush).

The part where you suggested that the Obama administration invested in jobs and infrastructure.

The part where you called the war unfunded, tax cuts irresponsible, and the drug plan unnecessary (despite the fact that democrats wanted an even more costly drug plan, btw).

The part where you give Obama credit for salvaging the economy (maybe you mistyped "savaging" )

The part where you took Dick Cheney's alleged words out of context in order to imply a fake meaning.

The part where you blame Republican policies for shrinking the consumer base and call them class warfare.

And all the other parts that I might have missed.
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Old 03-23-2013, 06:27 PM   #137
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Originally Posted by DaFace View Post
Nope, but I saw it anyway. It's specifically written in the FAQ as a bannable offense, so he can take a week off.
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Old 03-23-2013, 06:28 PM   #138
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Originally Posted by Comrade Crapski View Post
I asked him to talk about all the good things that have happened since 2008 and he talked about things that happened before 2008.
You apparently didn't read it, did you? You are one cherry-picking mofo...
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Old 03-23-2013, 06:30 PM   #139
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Quote:
Originally Posted by penchief View Post
It's hypocrisy to you because I don't agree with you.
No, it's hypocrisy because you apparently don't have a problem with your chosen party doing what you cry about from those other guys.

Quote:
Originally Posted by penchief View Post
You are a hypocrite, too.
Everyone is to an extent, but at least I'm willing to look in a mirror and admit my biases.
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Old 03-23-2013, 06:32 PM   #140
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Originally Posted by DaFace View Post
Nope, but I saw it anyway. It's specifically written in the FAQ as a bannable offense, so he can take a week off.
That's bullshit, DaFace. The bannable offense is bumping that results in "Overloading the Front Page" and that didn't happen here.

Is it better if he derails other threads with off-topic posts because he can't start his own threads and he can't bump more relevant threads.
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Old 03-23-2013, 06:33 PM   #141
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Quote:
Originally Posted by patteeu View Post
That's bullshit, DaFace. The bannable offense is bumping that results in "Overloading the Front Page" and that didn't happen here.

Is it better if he derails other threads with off-topic posts because he can't start his own threads and he can't bump more relevant threads.
Sorry. I bet everyone will survive.
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Old 03-23-2013, 06:35 PM   #142
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Originally Posted by patteeu View Post
The part where you blamed the crash on Bush policies (and then went on to admit that the policies had in mind actually preceded Bush).

The part where you suggested that the Obama administration invested in jobs and infrastructure.

The part where you called the war unfunded, tax cuts irresponsible, and the drug plan unnecessary (despite the fact that democrats wanted an even more costly drug plan, btw).

The part where you give Obama credit for salvaging the economy (maybe you mistyped "savaging" )

The part where you took Dick Cheney's alleged words out of context in order to imply a fake meaning.

The part where you blame Republican policies for shrinking the consumer base and call them class warfare.

And all the other parts that I might have missed.
Bush doubled down on the deregulation and didn't enforce regulations.

If democrats had their way. We'd go back to the most efficient way of delivering health care to seniors, disabled, and ultimately everyone. Single-payer Medicare with no corporate middleman. Again, this speaks to the fact that nothing can get done unless those wielding financial influence get a piece of the pie.

Dick Cheney meant exactly what he said. Then he went on to put the country's money where his mouth was.

Republicans are all about Trickle Down Class Warfare. It's their baby. It's been their mantra. Outsourcing, driving down wages, eliminating benefits. It's been all about that for them. They've succeeded. It's been a thirty-five year trend with the republican party as its proponent.

What steps would Bush have taken to salvage the economy after he crashed it? I'll tell you. He would have said more deregulation and more tax cuts for the wealthy and corporations. The exact same recipe that led us to this point. How would that have helped? It wouldn't have.
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Old 03-23-2013, 06:37 PM   #143
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Originally Posted by Radar Chief View Post
No, it's hypocrisy because you apparently don't have a problem with your chosen party doing what you cry about from those other guys.



Everyone is to an extent, but at least I'm willing to look in a mirror and admit my biases.
And what did I just say?
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Old 03-23-2013, 06:39 PM   #144
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And what did I just say?
You did the political equivilant of claiming you not racist because you have black friends.
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Old 03-23-2013, 06:40 PM   #145
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What part is a fairy tale?

The Bush Economic Crash didn't happen?

Cheney didn't say" Ronald Reagan proved deficits don't matter?

The deficit didn't explode under Bush and Cheney?

The prescription drug plan wasn't a redundant unnecessary corporate boondoggle at the taxpayer's expense?

The economy and the deficit weren't better under Clinton?

Republicans don't believe in their 35 years of Trickle Down Class Warfare (a proven failure)?

What part exactly?
Not really looking for a fight, however I do find it humorous that gas prices were directly blamed on Bush but now are dismissed as out of the presidents control. Nancy and crew posing in front of gas signs at $1.90 blabbing how out raged they were. Also anyone thinking Obama is doing a better job that Bush is a total buffoon~
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Old 03-23-2013, 06:42 PM   #146
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Sorry. I bet everyone will survive.
I wouldn't complain about rules you guys pull out of thin air if I weren't sure that eventually you'd get around to abusing them like this.

So can you articulate an actual rule for this or is it just going to be another rule based on the whim of the moderator?
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Old 03-23-2013, 06:43 PM   #147
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Originally Posted by penchief View Post
Bush doubled down on the deregulation and didn't enforce regulations.

If democrats had their way. We'd go back to the most efficient way of delivering health care to seniors, disabled, and ultimately everyone. Single-payer Medicare with no corporate middleman. Again, this speaks to the fact that nothing can get done unless those wielding financial influence get a piece of the pie.

Dick Cheney meant exactly what he said. Then he went on to put the country's money where his mouth was.

Republicans are all about Trickle Down Class Warfare. It's their baby. It's been their mantra. Outsourcing, driving down wages, eliminating benefits. It's been all about that for them. They've succeeded. It's been a thirty-five year trend with the republican party as its proponent.

What steps would Bush have taken to salvage the economy after he crashed it? I'll tell you. He would have said more deregulation and more tax cuts for the wealthy and corporations. The exact same recipe that led us to this point. How would that have helped? It wouldn't have.
I'm not really that interested in your fever dreams or what you learned at DailyKos.
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Old 03-23-2013, 06:47 PM   #148
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Sorry. I bet everyone will survive.
You and I are good and it matters little to me, however there was nothing worthy of a ban here IMO for ****s sake if this is something that deserves a ban I only hope in the future when Direckshun posts 10 threads on the same ****ing subject he is treated the same. After all it is the integrity of the board you are after right?
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Old 03-23-2013, 06:57 PM   #149
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You did the political equivilant of claiming you not racist because you have black friends.
No I didn't. First off, I do have issues with the current Administration. Just not to the degree I did with the last one. And if I were on this board more often you would probably know what they are. I have mentioned a couple briefly before I took my hiatus.

That said, the reason I'm not here as much is because the level of discourse has really gone south. I wouldn't mind talking about how I think Obama hasn't done enough about gas prices or Gitmo. Or how he compromised way too much his first four years. Or how he hasn't delivered on a lot of things liberals elected him to do. Or how he got played on health care. Or how I'm torn about his drone policy.

And there are issues that I side with conservatives on for the most part. Immigration, gun rights, among other things. I am a fiscal conservative. I just believe in investing at home and not nation building oversees. I just believe in a social safety net as opposed to corporate welfare.

That said, every thread seems to turn into a birther level irrational hate thread where reasonable discourse isn't even possible. If you don't agree with the nutbags they pollute the thread beyond recognition.

I may be a hypocrite but my not showing up to join in the Obama bashing threads isn't what makes me one.
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Old 03-23-2013, 07:03 PM   #150
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I'm not really that interested in your fever dreams or what you learned at DailyKos.
Well, that's a well reasoned counter-argument.

Plus, I've never been to the site you accuse me of. Why do you imply things like that as a means of responding? Doesn't seem very cool.

Last edited by penchief; 03-23-2013 at 08:04 PM..
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Old 03-23-2013, 07:14 PM
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