Why Oil Prices Skyrocketed

Iria · Jun 20, 2008, 10:35 PM

The problem is, nobody really knows how much oil is down there. The only thing that's certain: Dead organisms produced a limited amount of oil long ago, and eventually there won't be enough to sustain the current rate of consumption.
_________________
Source: LiveScience

Robert McClelland · Jun 20, 2008, 10:55 PM

Mad Max

**MIG-31** · Jun 20, 2008, 11:15 PM

Sounds like another reason to rise Taxes... It would be for the UK..

means96 · Jun 21, 2008, 03:43 AM

Sientist have found an ocean of crude oil on one of the moons around saturn as well as finding crude oul too deep to ever have come from organisms. Scientist are now convinced that oil is everywhere in the univers and is created both when forming planet's and the planet itself can make crude oil. Several oil wells that had been listed as empty are now almost half full. The problem that is causing the price to spike is greed as well as the fact that we are not drilling, yes if we drill we will not see the oil for years but the people that are looking at oil futures will likely be less likely to risk therefore our cost will go down soon.

BlueMak · Jun 21, 2008, 05:18 AM

I will refrain from using the words I would love to use, and just ask you mean96, do you have any proof for what you just typed?

means96 · Jun 21, 2008, 11:09 AM

There are many articles but let's start with NASA

NASA - Titan's Surface Organics Surpass Oil Reserves on Earth

BlueMak · Jun 21, 2008, 02:10 PM

Fascinating.

Judas · Jun 21, 2008, 04:11 PM

indeed

there has been a shitload of discoveries that are destroying the basic scientific and accepted norms of what has been taught in our schools for years.

The is but one of thousands of things that have completely destroyed orginally accepted as fact...

And what's worse, we haven't even been told, they won't allow it.

mike2h · Jun 21, 2008, 06:33 PM

not all hydrocardon is oil, far from it. & not all hydrocarbons that are on earth are viable for producing many of the derivatives we use especially gasoline.
what does 'out to deep' mean?
planetary forces are what make oil, not sure what u are saying. bty, u cant get someting from nothing, there are basic building blocks that are needed to produce oil before you even get into the whole time/pressure/heat/geologic enviroment thing.
i agree that greed on many levels is the biggest driving force for the price rise here in the us. & everywhere else for that matter.
i really believe that biggest thing driving the price up right now is the oil companies wanting to drill in the protected areas. they figure if the price keeps goes up johnq public will say fk the enviroment & get to drilling... and they are rt.
u watch we will start offshore drilling fist then make get busy on protected land areas.
while mean made a very good point about it being many years before any of this oil becopmes available & that any price drop will be based on futures pricing, i also believe we will see price reductions just so the oil companies can say 'u let us drill were u want & we will save you lots of $$ at the pump'.
while oil is a finite commodity & the demand for it is greatly increasing every year, there is no real justification for the price per barrel it is at rt now.... except pure greed.
regardless of any new drilling, cheaper supplies, whatever, the days of sub $4 gasoline in the us are gone.

bty, any of u guys chk out what quite a few peeps in sandiego are doing? they are heading over the border for their gas, it is sub $3 a gal there(gov subsidy) diesel is even cheaper. & that is something i have never understood ther gas companies getting away with... charging more for diesel than reg gas. diesel is almost a byproduct of making gas, meaning it is significantly sheaper to make. talk about greed.

Jun 20, 2008, 10:35 PM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 89	Why Oil Prices Skyrocketed The problem is, nobody really knows how much oil is down there. The only thing that's certain: Dead organisms produced a limited amount of oil long ago, and eventually there won't be enough to sustain the current rate of consumption. _________________ Source: LiveScience

Jun 20, 2008, 10:55 PM	#2
Robert McClelland PAX Tweaker, PAX Expert. Join Date: Jun 2002 Location: Somewhere in Wood County Ohio Same Town :) Posts: 10,662 Rep Power: 196 System Specs	Mad Max __________________ "XTREME AUDIO IS CRAP!" "There no support for it. It's crapist card on face of the earth it should be throw into the sun" http://www.speedtest.net/result/1949536385.png correct the correct one now

Jun 20, 2008, 11:15 PM	#3
MIG-31 HardwareHeaven News Mod Join Date: Dec 2002 Location: Nottingham,UK Posts: 56,835 Rep Power: 471 System Specs	Sounds like another reason to rise Taxes... It would be for the UK.. __________________ Please Post Your News Submissions Here

Jun 21, 2008, 03:43 AM	#4
means96 HardwareHeaven Junior Member Join Date: Jun 2002 Posts: 76 Rep Power: 0	Not Dead organisims Sientist have found an ocean of crude oil on one of the moons around saturn as well as finding crude oul too deep to ever have come from organisms. Scientist are now convinced that oil is everywhere in the univers and is created both when forming planet's and the planet itself can make crude oil. Several oil wells that had been listed as empty are now almost half full. The problem that is causing the price to spike is greed as well as the fact that we are not drilling, yes if we drill we will not see the oil for years but the people that are looking at oil futures will likely be less likely to risk therefore our cost will go down soon.

Jun 21, 2008, 05:18 AM	#5
BlueMak HH's Asteroids' Dominator Join Date: Nov 2004 Location: Hellas->Macedonia->Thessaloniki Posts: 13,467 Rep Power: 349 System Specs	I will refrain from using the words I would love to use, and just ask you mean96, do you have any proof for what you just typed? __________________ The people who are regarded as moral luminaries are those who forego ordinary pleasures themselves and find compensation in interfering with the pleasures of others(Bertrand Russell)"You go into Afghanistan, you got guys who slap women around for five years because they didn't wear a veil,You know, guys like that ain't got no manhood left anyway. So it's a hell of a lot of fun to shoot them." - Lt. Gen. James N. Mattis This is slavery, not to speak one's thought. [Euripides-The Phoenician Women (c.411-409 B.C.)] http://www.macedonia.info/FALLACIESANDFACTS.htm *Sic semper tyrannis.*

Jun 21, 2008, 11:09 AM	#6
means96 HardwareHeaven Junior Member Join Date: Jun 2002 Posts: 76 Rep Power: 0	many articles written by sientists There are many articles but let's start with NASA NASA - Titan's Surface Organics Surpass Oil Reserves on Earth

Jun 21, 2008, 02:10 PM	#7
BlueMak HH's Asteroids' Dominator Join Date: Nov 2004 Location: Hellas->Macedonia->Thessaloniki Posts: 13,467 Rep Power: 349 System Specs	Fascinating. __________________ The people who are regarded as moral luminaries are those who forego ordinary pleasures themselves and find compensation in interfering with the pleasures of others(Bertrand Russell)"You go into Afghanistan, you got guys who slap women around for five years because they didn't wear a veil,You know, guys like that ain't got no manhood left anyway. So it's a hell of a lot of fun to shoot them." - Lt. Gen. James N. Mattis This is slavery, not to speak one's thought. [Euripides-The Phoenician Women (c.411-409 B.C.)] http://www.macedonia.info/FALLACIESANDFACTS.htm *Sic semper tyrannis.*

Jun 21, 2008, 06:33 PM	#9
mike2h DriverHeaven Extreme Member Join Date: Nov 2002 Location: norcal Posts: 6,483 Rep Power: 91 System Specs	not all hydrocardon is oil, far from it. & not all hydrocarbons that are on earth are viable for producing many of the derivatives we use especially gasoline. what does 'out to deep' mean? planetary forces are what make oil, not sure what u are saying. bty, u cant get someting from nothing, there are basic building blocks that are needed to produce oil before you even get into the whole time/pressure/heat/geologic enviroment thing. i agree that greed on many levels is the biggest driving force for the price rise here in the us. & everywhere else for that matter. i really believe that biggest thing driving the price up right now is the oil companies wanting to drill in the protected areas. they figure if the price keeps goes up johnq public will say fk the enviroment & get to drilling... and they are rt. u watch we will start offshore drilling fist then make get busy on protected land areas. while mean made a very good point about it being many years before any of this oil becopmes available & that any price drop will be based on futures pricing, i also believe we will see price reductions just so the oil companies can say 'u let us drill were u want & we will save you lots of $$ at the pump'. while oil is a finite commodity & the demand for it is greatly increasing every year, there is no real justification for the price per barrel it is at rt now.... except pure greed. regardless of any new drilling, cheaper supplies, whatever, the days of sub $4 gasoline in the us are gone. bty, any of u guys chk out what quite a few peeps in sandiego are doing? they are heading over the border for their gas, it is sub $3 a gal there(gov subsidy) diesel is even cheaper. & that is something i have never understood ther gas companies getting away with... charging more for diesel than reg gas. diesel is almost a byproduct of making gas, meaning it is significantly sheaper to make. talk about greed. __________________ Last edited by mike2h; Jun 21, 2008 at 06:49 PM.