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    OT - Crude tops $147 a barrel

    It is really sad that our government has allowed it to come to this.


    Oil hits record near $147 as supply fears intensify | U.S. | Reuters



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    Re: OT - Crude tops $147 a barrel

    New day...new record high. It doesn't even surprise me anymore.



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    Re: OT - Crude tops $147 a barrel

    Well, at least our elected leaders have jumped right on top of this issue and addressed it in a decisive way by expanding refinery capabilities and tapping known sources around the country. What? You mean they haven't? We're ****ed.



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    Re: OT - Crude tops $147 a barrel

    It sucks bigtime now, but with prices high and no end in sight, it is really going to open up the door for some new businesses to roll out some viable alternatives. If oil collapses and we have $2 gas again, we will just ignore researching of alternatives again until the next big crunch comes along which would probably make this price jump look like nothing.



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    Re: OT - Crude tops $147 a barrel

    Quote Originally Posted by aeroclone View Post
    It sucks bigtime now, but with prices high and no end in sight, it is really going to open up the door for some new businesses to roll out some viable alternatives. If oil collapses and we have $2 gas again, we will just ignore researching of alternatives again until the next big crunch comes along which would probably make this price jump look like nothing.
    I agree with this ^^^^^^

    But, the bubble will burst, the question is WHEN? Hopefully soon. At the end of the day this time around I feel that we have learned something we didn't learn the last couple of times this happened. The technology is advancing (should have advanced further by now), but it only makes sense for us to limit our reliance on foreign oil for tons of reasons.



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    Re: OT - Crude tops $147 a barrel

    I agree with Aeroclone. The current price increase is tied to other countries industrializing and starting to tap into the market as well. It's simple economics, Supply and Demand. In this market, increasing supply will only increase demand, so it will take a HUGE influx of supply to lower the price. As it is right now, people are trying to use less oil, so small increases won't change things.

    Also, oil is very much a non-renewable source, and when it's gone it's gone. People aren't going to willingly spend large quantities of money to find viable alternatives to oil, so having an economic driving factor, while not pleasent, is good in the long run.

    Don't get me wrong I'm not liking the price of gas right now and it is certainly affecting my budget that I had planned out for the summer, but changes need to happen and this is atleast "fueling" that


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    Re: OT - Crude tops $147 a barrel

    Quote Originally Posted by cys_av8r View Post
    but it only makes sense for us to limit our reliance on foreign oil for tons of reasons.

    Like avoiding costly wars in the middle east that raise our defense spending exponentially?



    EDIT: And alteast by driving some research due to higher prices now, there will be some technology in place in the event that something does happen to the supply of oil and we need a quick fix. Walking around with all of our eggs in one basket is rather dangerous... sooner or later that basket is going to fall


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    Re: OT - Crude tops $147 a barrel

    Quote Originally Posted by aeroclone View Post
    It sucks bigtime now, but with prices high and no end in sight, it is really going to open up the door for some new businesses to roll out some viable alternatives. If oil collapses and we have $2 gas again, we will just ignore researching of alternatives again until the next big crunch comes along which would probably make this price jump look like nothing.
    Dead-on. It is fiscally painful to go through this now, but I think in the long run this will have positive consequences.



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    Re: OT - Crude tops $147 a barrel

    It really does suck ***, especially for the lower class. But it has definately taught me to be more conservative with my money. Less trips to the city, out to eat, movies, conserving energy at home (to save my wallet, not the planet).



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    Re: OT - Crude tops $147 a barrel

    Obviously a compromise is in order. The opening of domestic sources of oil must be achieved while ensuring that a program is in place to find an alternative source of energy. Yes, this is good in a way, as it makes alternatives more viable, but we also have a way to make the changeover a lot more painless.



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    Re: OT - Crude tops $147 a barrel

    Quote Originally Posted by aeroclone View Post
    It sucks bigtime now, but with prices high and no end in sight, it is really going to open up the door for some new businesses to roll out some viable alternatives. If oil collapses and we have $2 gas again, we will just ignore researching of alternatives again until the next big crunch comes along which would probably make this price jump look like nothing.
    Exactly.....Please see the 1970's. But it still stinks



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    Re: OT - Crude tops $147 a barrel

    Quote Originally Posted by Cyclonepride View Post
    Obviously a compromise is in order. The opening of domestic sources of oil must be achieved while ensuring that a program is in place to find an alternative source of energy. Yes, this is good in a way, as it makes alternatives more viable, but we also have a way to make the changeover a lot more painless.

    Unfortunately all of us here know the general American populous doesn't operate this way.



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    Re: OT - Crude tops $147 a barrel

    Unfortuantly opening for drilling will take several years before we see relief if I'm not mistaken, so while there should be some action towards that now, it would probally take away some of the driving force for alternatives. If the alternatives are due out about the same time that the extra oil would hit the market, it probally makes as much sense to let the alternatives be the primary method to reduce costs. Financially this sucks on a whole, but the research and production are bound to be good for the economy. And while not everyone can afford the new technology, those that can will start to use it, meaning they'll use less oil, and therefore demand drops and with it price for those in the lower class.

    Increasing domestic oil output would be good, but again thats only going to last for so long and it takes away from deveoloping the technology needed to get off the stuff. You'd have thought after the thing in Iran in what, '78? that technology would be deveoloped but it wasn't. Gas returned to normal prices and people went on to deveolop the SUV...


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    Re: OT - Crude tops $147 a barrel

    Quote Originally Posted by Flag Guy View Post
    Unfortuantly opening for drilling will take several years before we see relief if I'm not mistaken, so while there should be some action towards that now, it would probally take away some of the driving force for alternatives. If the alternatives are due out about the same time that the extra oil would hit the market, it probally makes as much sense to let the alternatives be the primary method to reduce costs. Financially this sucks on a whole, but the research and production are bound to be good for the economy. And while not everyone can afford the new technology, those that can will start to use it, meaning they'll use less oil, and therefore demand drops and with it price for those in the lower class.

    Increasing domestic oil output would be good, but again thats only going to last for so long and it takes away from deveoloping the technology needed to get off the stuff. You'd have thought after the thing in Iran in what, '78? that technology would be deveoloped but it wasn't. Gas returned to normal prices and people went on to deveolop the SUV...
    But that is a never ending, circular argument. Make the law state that we are opening these areas for oil drilling, and mandate the changes that we need to make towards alternative sources at the same time. I guarantee that combination move alone would drop oil prices significantly as soon as it passed. Right now, there is a never ending potential for demand growth in this area. Add supply, while limiting future potential for demand, and you may well pop the bubble. But what do I know, I'm a floor guy. Anyone need some carpet?



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    Re: OT - Crude tops $147 a barrel

    Quote Originally Posted by Cyclonepride View Post
    But that is a never ending, circular argument. Make the law state that we are opening these areas for oil drilling, and mandate the changes that we need to make towards alternative sources at the same time. I guarantee that combination move alone would drop oil prices significantly as soon as it passed. Right now, there is a never ending potential for demand growth in this area. Add supply, while limiting future potential for demand, and you may well pop the bubble. But what do I know, I'm a floor guy. Anyone need some carpet?
    My concern is that even with advances in technology demand is not going to drop. Like I said with China (and now India I believe) industrializing, there is skyrocketing demand for oil, and that demand is only going to grow baring some big technology break through that people decide to implement.

    Plus maybe if we get some fuel friendly technology it will shut up the **** Chicken Little Global Warming people


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