Comments on: Gas prices keep climbing even as oil prices drop

By: Katie

Katie — Thu, 29 May 2008 23:40:15 +0000

Could you imagine anyone drilling a hole in Yellowstone?Â Could you imagine what that would do to the geysers?Â Or the geyser the hole would become (and not of oil).The only reason that people go to Yellowstone is to see the geysers and bears.Â (Although they could go to Chicago in the winter to see the Bears.Â They did very well last year.)

By: GUYK

GUYK — Thu, 29 May 2008 23:01:11 +0000

I would imagine that big oil figures its profit margins just like any other business has to figure them..the percentage of capital investment gained after all business expense..10 percent a year of a trillion bucks is a lot of bucks but not hi-jacking. Hi-jacking is when it costs the Saudis less than five bucks an hour to produce the crude..hell most of their stuff is flowing and pushed to the pipeline via bottom hole pressure..and then hold the world up for over a 100 bucks a barrel for the crude.Big oil just doesn’t “own” near the producing fields they used to own..most except in the USA have been nationalized and the oil companies may produce it but then they have to buy it from the country where it is produced. In the USA though the royalty owner is usually a private citizen and gets from a cut of the gross..off the top..usually 1/8 and sometimes as much as 3/16 depending on the deal made on the royalty lease.I would like to see big oil as much as anyone but I can’t blame the oil companies much for making all they can while they can..I remember whenthe bottom dropped out before and so many USA independent producers went bankrupt..

By: TexasFred

TexasFred — Thu, 29 May 2008 22:38:33 +0000

Katie,Â ANWR is a NATIONAL Wildlife Preserve...

So, what's the difference?? Park, Reserve, if it's done correctly, no one suffers and all the little tree huggers can still commune with nature and eat pine nuts... And I don't knock anyone for their religious beliefs but WTF?? You won't type the word GOD but you will reference Him as Master of the universe?? I took the hyphen OUT, I don't edit comments too often but I make NO bones about it, GOD is His name, I am very proud OF that name and say it proudly, you can call Him anything you like in YOUR blog but PLEASE don't use a hyphen in GOD here, I am personally VERY offended by that...

By: Katie

Katie — Thu, 29 May 2008 21:49:59 +0000

I sometimes thank God for crises like this one.Â Maybe it will get the Congress to get up off their backsides and finally allow drilling in Alaska and Off-Shore (I’m sorry, but Yellowstone must remain off limits.Â It is a National Park).Â And I thank God that I’m not living in Europe where gas is $9 a liter.Â And Saudi Arabia, Kuwait, Iran and other oil producing nations should be thankful to God that we haven’t blown them to Kingdom Come, then gone in and taken the oil. I find so much to be thankful to The Master of the Universe.Â I just wish I could find the money to fill the gas tank!

By: BobF

BobF — Thu, 29 May 2008 21:34:23 +0000

I found this article from just two short years ago interesting.Â Notice what Chavez was threatning and compared to what we have today.Â In an interview with BBC Newsnight’s Greg Palast, Mr Chavez – who is due to host the Opec meeting on 1 June in Caracas – said he would ask the oil cartel to set $50 a barrel as the long term level.

During the 1990s the price of oil had hovered around the $20 mark falling as low as $10 a barrel in early 1999.

“We’re trying to find an equilibrium. The price of oil could remain at the low level of $50. That’s a fair price it’s not a high price,” Mr Chavez said