• Welcome to MuscleMecca Bodybuilding Forums

    Do you love bodybuilding and events like the Olympia and the Arnold Classic? Are you interested in Bodybuilding, Fitness or building muscle? If so check out and join our bodybuilding forum! Musclemecca bodybuilding forums is one of the oldest and most popular bodybuilding, fitness forums! Some past members of Musclemecca include Phil Heath, Ronnie Coleman, Gregg Valentine and More! We have over a million bodybuilding videos, pictures and articles! We have many helpful bodybuilding enthusiasts to answer questions and give you advice on building muscle! See You In The Bodybuilding Forums!

  • musclemecca bodybuilding forums does not sell or endorse any bodybuilding products. Do not sell any bodybuilding products through musclemecca bodybuilding forums.
    Musclemecca.com has no affiliation with advertisers; they simply purchase advertising space here. If you have questions go to their site and ask them directly.
    Advertisers are responsible for the content in their forums.
NpasGear Bodybuilding Gear

Oil Spikes to $105.10 Per Barrell

Flex

Mecca V.I.P.
VIP
Joined
Jul 12, 2006
Messages
6,519
Points
0
http://biz.yahoo.com/ap/080306/oil_prices.html

Oil prices hit a record $105.10 a barrel Thursday, a day after a surprise drop in U.S. crude supplies and a decision by OPEC not to boost production.

Prices gave up some ground by midday trading in Europe. Light, sweet crude for April delivery was still up 11 cents to $104.63 a barrel in electronic trading on the New York Mercantile Exchange.

On Wednesday, the April contract had jumped $5 to settle at a record $104.52 a barrel and later rose to $104.95 in post-settlement electronic trading.

Earlier this week, oil prices broke the previous inflation-adjusted price record of $103.76, set in 1980 during the Iran hostage crisis.

In London, Brent crude fell 21 cents to $101.43 a barrel on the ICE Futures exchange.

"The primary factor causing the surge in oil prices is the surprising drawdown in crude inventories, which caused traders to really react quite dramatically," said Victor Shum, an energy analyst with Purvin & Gertz in Singapore.

Most analysts had expected the U.S. Energy Department's Energy Information Administration to report oil stocks rose last week for the eighth straight time. Instead, the stocks fell 3.1 million barrels.

In Vienna, the Organization of Petroleum Exporting Countries said Wednesday it would hold production levels steady, at least for now. OPEC ministers cited falling demand in announcing their decision to hold production steady.

The EIA report and OPEC announcement fed a new frenzy of investing in oil futures, which have risen to new inflation-adjusted records this week as the falling dollar drew investors to the market.

"Five dollars is an incredible gain," Shum said. "The overall oil market fundamentals are supportive of strong oil prices but not at this level, above $100. I would expect some profit taking to put a temporary halt to this rather large surge in pricing."

The dollar, meanwhile, fell to a new low against the euro, with the EU's shared currency climbing to $1.5329 before dropping back slightly. The euro set its previous high mark of $1.5302 on Wednesday.

Analysts noted that U.S. oil inventories are at historical highs despite last week's decline in crude supplies. Meanwhile, demand for gasoline is falling, and several forecasters have cut their oil demand growth predictions for this year.

Traders also worried about the escalating of tensions between oil producing countries in Latin America. Colombia's weekend attack on leftist rebels hiding in Ecuadorean territory has sparked a growing crisis as Venezuela moved tanks and soldiers to the Colombian border Wednesday. Ecuador said Monday it had sent 3,200 soldiers to its border with Colombia.

In other Nymex trading, heating oil futures fell 1.04 cents to $2.9327 a gallon (3.8 liters) while gasoline prices lost 0.63 cent to $2.6358 a gallon. Natural gas futures added 3.9 cents to $9.78 per 1,000 cubic feet.
 

Flex

Mecca V.I.P.
VIP
Joined
Jul 12, 2006
Messages
6,519
Points
0
If you love policing the world so much Bulkboy, have your own donkey dick country do it.

:angrydude:
 

Daniel Andersson

Mecca Mod (not)
VIP
Joined
Oct 30, 2006
Messages
8,591
Points
0
You guys whine so darn much over the oil and gas price in the U.S
To fill my dads car up costs $130 here and thats a smaller car, a S60 2,4

A full tank is little more the 17 Gallons
 

Hypocrisy86

Mecca V.I.P.
VIP
Joined
Jul 13, 2006
Messages
15,729
Points
0
You guys whine so darn much over the oil and gas price in the U.S
To fill my dads car up costs $130 here and thats a smaller car, a S60 2,4

A full tank is little more the 17 Gallons

People here ALOT i mean, drive huge trucks with up to 35+ gallon gas tanks
diesel here is 3.56$ a gallon
40xs 3.56!!!
 

Daniel Andersson

Mecca Mod (not)
VIP
Joined
Oct 30, 2006
Messages
8,591
Points
0
People here ALOT i mean, drive huge trucks with up to 35+ gallon gas tanks
diesel here is 3.56$ a gallon
40xs 3.56!!!

This might be a bad way to put it but, If you are dumb enough to drive a hugh truck that drinks gas like that...you shouldn't whine about it, you bought the car
 

Ironslave

Mecca V.I.P.
VIP
Joined
Jul 12, 2006
Messages
4,869
Points
0
Price of oil in gold


8ajy8ad-1.gif
 

pegasus

Mecca V.I.P.
VIP
Joined
Jul 13, 2006
Messages
530
Points
0
You guys whine so darn much over the oil and gas price in the U.S
To fill my dads car up costs $130 here and thats a smaller car, a S60 2,4

A full tank is little more the 17 Gallons

there's a big difference between driving in europe and the state. in the scotland it cost ~1 GBP (~ 2 USD) a litre, now in the states it cost ~3 USD (1.50 GBP) for a gallon, which is 3.8 litres.

at first you think damn petrols so cheap in the states but then as you realise that driving costs pretty much the same. I mean in houston the shortest drive is 3 or 4 miles, or my fiancee has to drive 24 miles to get to her uni, and its not that long a drive compared to some other destinations.

in scotland u can walk to uni, gym, or you can get the bus, underground or a train etc, but in the states you can hardly get anywhere by foot, and public transport pretty shit. houston's got a relatively good bus service, but miami for instance has some of the shittest public transport.

so what i'm basically saying is that you can't function without a car in the states, which u can in europe. and lets say you have to fill your car up once every 2 weeks in scotland, u gotta do it once or twice every week in the states, so thats why u can't really compare the prices in europe with the states. anyways one reason why petrol costs so much in europe is because of the huge amount of tax that you pay on it, for example each litter of petrol costs 12 pence to produce but they make you pay something along the lines of 800% tax on it.

but yet still that is still no excuse for driving huge cars.
 

Bulkboy

Mecca V.I.P.
VIP
Joined
Oct 22, 2006
Messages
4,226
Points
0
If you love policing the world so much Bulkboy, have your own donkey dick country do it.

:angrydude:

we can barely police ourselves over here:49:

anyways i didnt say anything about me being happy about policing anything, just said that a rise in the oil price is good for norway since we export alot of oil:2: so while u pay higher gas prices we are getting filthy rich:tiphat:
 

Braaq

Mecca V.I.P.
VIP
Joined
Jun 12, 2007
Messages
6,734
Points
0
God.. im not looking forward to paying at the pumps... better be scarce with my moola
 

Flex

Mecca V.I.P.
VIP
Joined
Jul 12, 2006
Messages
6,519
Points
0
we can barely police ourselves over here:49:

anyways i didnt say anything about me being happy about policing anything, just said that a rise in the oil price is good for norway since we export alot of oil:2: so while u pay higher gas prices we are getting filthy rich:tiphat:
I'm just making the point that part of the reason why our prices are so high is because the dollar is garbage since we spend so much policing. Thus, leads to inflation and nobody has faith in the dollar right now.

Fed = fail
 

Mygeeto

Mecca V.I.P.
VIP
Joined
Apr 15, 2007
Messages
1,040
Points
0
im curious as to how many of you think there would be a serious full on, no bullshit media twisted all out war for the oil in the middle east, and an eventual take over of all drilling spots and oil companies, and the elemination of any and all groups, companies, and individuals that jack up the prices of oil?

i can easily see America and others erradicating any resistance in the middle east and re-populating it for America
its a bit of an extreme thought i had, but it may be possible.. who knows.
 

Ironslave

Mecca V.I.P.
VIP
Joined
Jul 12, 2006
Messages
4,869
Points
0
im curious as to how many of you think there would be a serious full on, no bullshit media twisted all out war for the oil in the middle east, and an eventual take over of all drilling spots and oil companies, and the elemination of any and all groups, companies, and individuals that jack up the prices of oil?

i can easily see America and others erradicating any resistance in the middle east and re-populating it for America
its a bit of an extreme thought i had, but it may be possible.. who knows.

A "no bullshit media twisted" war will never happen. Though in 100 years or so, I can see the governments going to even more war lengths to gather control of oil.

But, once oil becomes more scarce, prices will only further skyrocket.
 

Braaq

Mecca V.I.P.
VIP
Joined
Jun 12, 2007
Messages
6,734
Points
0
A "no bullshit media twisted" war will never happen. Though in 100 years or so, I can see the governments going to even more war lengths to gather control of oil.

But, once oil becomes more scarce, prices will only further skyrocket.

Which is why we need to stop lolly gaggin around and find a damn alternative and stop the oil lobbiest from blocking the research. We have ideas, we have some alternatives, just no funding yet because some people are making too much money off oil right now.
If only Ron Paul won :crymeariver:
 

Ironslave

Mecca V.I.P.
VIP
Joined
Jul 12, 2006
Messages
4,869
Points
0
It's going to be pretty damn hard to find anything nearly as cheap and efficient as oil....
 

Mygeeto

Mecca V.I.P.
VIP
Joined
Apr 15, 2007
Messages
1,040
Points
0
A "no bullshit media twisted" war will never happen. Though in 100 years or so, I can see the governments going to even more war lengths to gather control of oil.

But, once oil becomes more scarce, prices will only further skyrocket.

yeah thats what got me thinking

the desire to have fuel, oil, gas, ect and the frustration that comes with having to pay alot to other people for it would make alot of people VERY frustrated and impatient.
i think impatient enough that they will throw thier hands up in the air, yell "fuck this for a joke, i want that oil to be mine!" and just bomb the hell out of everything that gets in thier way to controlling that oil.
 
Similar threads
Thread starter Title Forum Replies Date
Ironslave Oil jumps over $25 a barrell today, settles up $16 Politics & World News 1

Similar threads

Top