Opening up drilling will have no impact - cougarguard.com — unofficial BYU Cougars / LDS sports, football, basketball forum and message board

BYU71 · 07-21-2008, 04:47 PM

on the price of oil for 10 years. At least that is what I keep hearing from the dems.

Is the fact oil prices started falling right after Bush lifted the drilling ban just a coincedence?

SoCalCoug · 07-21-2008, 04:51 PM

Quote:

Originally Posted by BYU71

on the price of oil for 10 years. At least that is what I keep hearing from the dems.

Is the fact oil prices started falling right after Bush lifted the drilling ban just a coincedence?

In a market where speculation seems to drive the price of oil (or at least has a significant effect)? Probably not a coincidence.

MikeWaters · 07-21-2008, 05:01 PM

Quote:

Originally Posted by BYU71

on the price of oil for 10 years. At least that is what I keep hearing from the dems.

Is the fact oil prices started falling right after Bush lifted the drilling ban just a coincedence?

And the drops before then?

Wow, you hold yourself out to be a paragon of financial wisdom, yet this is cause and effect for you?

BYU71 · 07-21-2008, 05:06 PM

Quote:

Originally Posted by MikeWaters

And the drops before then?

Wow, you hold yourself out to be a paragon of financial wisdom, yet this is cause and effect for you?

I am not a paragon of financial wisdom. However, when it comes understanding finances, I am way out of your league. By the way this is not belittling you. I am sure there are area's where you are far more knowledgeable than I am, finances is just not one of them.

What drops before then are you talking about. I thought I heard the drops over the last week were the largest for quite some time.

I don't think I said it was cause and effect, I was asking for alternative reasons. Of course you provided none. Just your usual style. Try to belittle me and then put words in my mouth.

MikeWaters · 07-21-2008, 05:08 PM

Quote:

Originally Posted by BYU71

I am not a paragon of financial wisdom. However, when it comes understanding finances, I am way out of your league. By the way this is not belittling you. I am sure there are area's where you are far more knowledgeable than I am, finances is just not one of them.

What drops before then are you talking about. I thought I heard the drops over the last week were the largest for quite some time.

I don't think I said it was cause and effect, I was asking for alternative reasons. Of course you provided none. Just your usual style. Try to belittle me and then put words in my mouth.

falling demand, OPEC saying less oil will be used next year than last year.

I guess you didn't hear about this.

BYU71 · 07-21-2008, 05:12 PM

Quote:

Originally Posted by MikeWaters

falling demand, OPEC saying less oil will be used next year than last year.

I guess you didn't hear about this.

Nope missed it. Could you provide the day they said that. I would appreciate it.

Many people have been saying demand is going down for weeks and yet nothing happened. Maybe the right people finally heard it.

So I guess it is a perception of supply and demand either way. You know OPEC saying useage is going down next year is a projection on the future as it pertains to supply and demand.

Indy Coug · 07-21-2008, 05:14 PM

Quote:

Originally Posted by BYU71

So I guess it is a perception of supply and demand either way. You know OPEC saying useage is going down next year is a projection on the future as it pertains to supply and demand.

Pure speculation.

MikeWaters · 07-21-2008, 05:21 PM

Quote:

Originally Posted by BYU71

Nope missed it. Could you provide the day they said that. I would appreciate it.

Many people have been saying demand is going down for weeks and yet nothing happened. Maybe the right people finally heard it.

So I guess it is a perception of supply and demand either way. You know OPEC saying useage is going down next year is a projection on the future as it pertains to supply and demand.

Quote:

The cartel also predicted a drop in demand for OPEC crude next year to 31.2 million bpd from over 32.3 million bpd currently, leading to "a significant build in inventories" in 2009.

"Combined with increasing OPEC capacity, (this) should further ease market conditions and likely help moderate prices," the report said.

http://news.yahoo.com/s/afp/20080715...s_080715113241

BYU71 · 07-21-2008, 05:27 PM

Quote:

Originally Posted by MikeWaters

http://news.yahoo.com/s/afp/20080715...s_080715113241

Great. Bush moved it the first $5-6 and then OPEC helped it another $8-9.

TripletDaddy · 07-21-2008, 05:30 PM

Quote:

Originally Posted by MikeWaters

http://news.yahoo.com/s/afp/20080715...s_080715113241

Ah, this makes sense. meaning, you fundamental lack of understanding makes sense now...

This very link says that world oil demand will go up, now down. Only OPEC oil is predicting a slight slow down in demand. OPEC oil accounts for what....about 55-60% of our imported oil as of a year or so ago?

Why is OPEC oil predicting a slight surplus? Because the US is looking elsewhere to gets is oil, tired of getting gouged by OPEC.

So your link really doesnt support what you are trying to say. Also, you seem to not understand what OPEC is.

par for the course.

07-21-2008, 04:47 PM	#1
BYU71 Senior Member Join Date: Jan 2006 Posts: 5,084	Opening up drilling will have no impact on the price of oil for 10 years. At least that is what I keep hearing from the dems. Is the fact oil prices started falling right after Bush lifted the drilling ban just a coincedence?