Significant Reduction in Petroleum / Gasoline Prices, HOW?

[limitdown]

Proven Oil Reserves UnTapped

residents of Alabama and surrounding states have had oil reserves proven on their properties since the 1950's and no drilling or accessing has occurred since....

this is one of the worse, best kept secrets in the industry...

why?

The residents/ land owners are not those whom the oil Industry care to enrich.

So we all suffer over less supply....

So we all suffer through further market speculation over Iran and their nuclear capacity and constrictions in the marketplace over supplies....

So we all suffer...

 

[MRWSM]

They don't build them so this guy made one himself.

http://greenplanet3.org/ev/

 

[DrChaos]

coal liquefication can work and could produce fuel competitive at (wild ass guess) $6/gallon.

But it is catstrophic climate crack.

You end up making substantially more CO2 injected into the atmosphere for every unit of useful fuel compared to pumping Saudi's 72-virgin delight.

Biofuels are mostly greenhouse neutral as they take in CO2 which is then emitted on combustion.

 

[DrChaos]

Sorry for the double post.

What I believe in:

1) Massive biofuel expansion, including genetically modified crops.

2) massively increased fuel efficiency standards
Require all spark-ignition engines be automatic flex-fuel (any gasoline/alcohol mix, tank per tank), exactly as is done in Brazil TODAY.
Change old air pollution laws to meet new Diesel technology (urea sprayers).

3) banning most non-commercial use of trucks outside rural areas, or limiting them to 3000 miles a year (e.g. going camping.), unless they have far better fuel efficiency. For instance, hydraulic hybrids with diesel engines, and of the size used in Japan.

4) plug-in hybrids for urban areas (city driving); diesel for rural (good for hwy mileage).

5) nukes and wind and solar. Not or.

6) Most importantly: SCIENCE-BASED POLITICS, NOT JINGOISM-BASED FASCIST-BASED OR FAITH-BASED.

 

[murray t turtle]

Quote from FireWalker:

A couple of random thoughts:
- I forget the percentages, but something like 90% of the oil produced comes from nationalized companies. ie. not "big oil". Exxon is like the 12th largest producer and #12 on the list doesn't have much pricing power.

- It's important to realize that Government takes in more taxes than "big oil" makes in profits. Government silently rakes in billions while distracting us with evil oil companies.

- The idea that Peak Oil will be a short-term bump in the road seems short-sighted to me. Unless by short-term pain you mean 5 or more years of chaos. Who's going to pay to have millions of cars retrofitted? Who's going to pay for the new distribution systems and infrastructure? It takes time, money and politics to build companies large enough to distribute whatever technology will be replacing oil. And, to date, that technology is still undefined.

Not to mention "big oil" won't go quietly. I can't even imagine the number of people who have a strong vested interest in maintaining the current structure. From oil service companies to shippers to refineries to truckers. Employees and management, to small business owners and sales people. To government even. They all earn their living off oil. How is government going to tack their $1/gallon tax onto solar powered hydrogen?

===========
Like Limitdown suggested , wrote both senators, about getting rid of ALL the unesssary gov regulations, which is the main problem in refinery bottlenecks.

Also asked the Senaors to be honest enough like you were firewalker;
and tell the American people its not thre greed of oil companies, the government makes more in taxes per gallon than oil companies do in profit .

Supply & demand helps me with oil trends,
also use less gas this year
however dont play the blame game,like media does

Not only is faith important, private sector is also.

 

[9999]

Quote from limitdown:

Question: Who / How can lower petroleum and petroleum based product (gasoline, diesel fuel, heating oil, petroleum based plastic products, etc.) prices?

Answer: Your Congressman/woman!

Call me jaded, but I think that Congress could care less about the American people. Solution: start brewing your own moonshine!

 

[dis]

No to worry: an imminent World War over control of the oil fields will significantly reduce global oil consumption. Of course, we could reduce oil demand by building nuclear power generating facilities, but because (repeat three times) NUKES KILL! we would much rather do it the old-fashioned way - by eliminating surplus oil consumers.

 

[Trader5287]

Quote from libertad:

limitdown wrote

As traders, I learned from some excellent corporate traders, who had hundreds of millions of dollars entrusted to them, and they shared an important psychological lesson with us traders,

that lesson went something like this:

As traders, we can not afford to take or have a political spin to our decision making. We have to be able to go long, hedge or short any position either with or against a political trend happening in the news. Hence, have nor express any political opinion and you will remain objective and capable of being a highly profitable trader, who takes advantage of all news events.

So, regarding this oil matter, it does overlap with politics, however, we have addressed these issues from the economic perspective.

don't think for one moment that I wont do hedging long oil and oil futures against airlines or otherwise, whether or not I dispise paying $3.25 for gasoline.
.......................................................................................................

Excellent and correct commentary

All the more reason to accomplish daytrading skills...

You are liquid every day...and could care less what analysts thinks....political opinions...etc...etc...

Yes indeed...being a daytrader has its liberties....

Political blabber...analysts blabber....entertainment only.....sometimes good entertainment...sometimes bad entertainment...

One does not have to be subject to such crap...

Just make money !!!!

Love it !!!

No, it is wrong.

The traders are the problem in the short term. I said it above and repeat it here.

There is no "right" to trade oil, ethanol, gas, etc. There is no "right" to create ETFs and new investment vehicles with a strategic commodity underlying. Unless the Bushies are willing to use political might to restrain trading in these strategic commodities, there is no hope of short term easing in price. Nixon would have known instinctively to send his henchmen to the regulators - particularly CFTC and stop the specs. Haven't we just seen 4 margin changes in Silver alone? Why not just cancel margin? Rescind any approval given to start this Oil ETF. Go to IB and any other brokers and clearers and ban them from offering the contracts. Then, muscle it the same way internationally. An example, the SMI contracts. An American can't trade certain items in Switzerland. I don't know why - maybe the reciprocal safeguards or tax treatments aren't in place; maybe the banks there never satisfactorally explained what happened to the Jews' money; who cares what the reason is -- the answer is No, you cannot speculate there... . Do the same with oil. Restrain access to the markets. Simple as that.

Yesterday, after the bell I watched all financial TV interviews on oil. Not a one suggested the speculation contributes meaningfully to the runup. That's absurd. These IBs and hedge funds are falling all over themselves to ramp up commod trading activity. It's right there clear as day in their earnings reports and commentary.

I defy any Nymex trader here to tell me how I'm wrong on this. Better still, tell me as traders what you would propose to implement what I suggest here - - for sake of argument. Come forward.

 

[cajunboy]

Stop using so much oil products............

Called supply and demand

Get rid of your tank SUV............

reduce the number of Chinese and Indian population so they stop the strain on oil demand,,,,,,,,,,

Simple stuff, not American politics, that is for stupid opinions

IMHO

 

[DrChaos]

How does huge speculation work in oil markets to push prices well beyond supply and demand?

On the open markets, crude is settled with physical delivery.

Where is the oil going? Storage is maxing out and pretty small compared to consumption overall.


Responding to another post: nuclear plants won't do a thing to lower oil consumption, almost no fixed electrical generating plant uses oil any more except local backups (e.g. diesel for hospitals).

By far the most effective in terms of raw numbers is to increase the requirements on fuel efficiency. This is known to be possible because those kinds of vehicles already exist.

Once you are at a fleet MPG of 40 or so the easy stuff has been picked off. Then you can seriously start ramping up biofuel expansion (because as peak oil starts to really hit it will happen).