Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature currently requires accessing the site using the built-in Safari browser.
Bush lifts executive ban on offshore oil drilling on July 14, 2008 That very day oil prices reversed its climb & began its decline to $33 until Obama took office promising drilling restrictions. Check the crude oil price chart below!
Bush lifts executive ban on offshore oil drilling on July 14, 2008 That very day oil prices reversed its climb & began its decline to $33 until Obama took office promising drilling restrictions. Check the crude oil price chart below!
how do you know prices didn't fall because Americans pulled back and used less oil?
how do you know this wasn't due to the housing boom crash?
how do you know this is not from the bank failures taking place during this period?
I think, those things above would certainly have to be looked in to, before you can come to this conclusion of yours, Kissmy.....don't you?
Bush lifts executive ban on offshore oil drilling on July 14, 2008 That very day oil prices reversed its climb & began its decline to $33 until Obama took office promising drilling restrictions. Check the crude oil price chart below!
how do you know prices didn't fall because Americans pulled back and used less oil?
how do you know this wasn't due to the housing boom crash?
how do you know this is not from the bank failures taking place during this period?
I think, those things above would certainly have to be looked in to, before you can come to this conclusion of yours, Kissmy.....don't you?
I know what caused the price moves because I have been watching, studying & investing in crude oil, ethanol & alt energy for 10 years now. I have been investing in agricultural commodities for 25 years. I know what is moving the market prices. Everything else is just smoke & mirrors. The Lehman ceollapse was on September 15th 2008, Oil dropped July 14th 2008. These big banks were heavily invested in crude oil. They own more crude oil than the oil companies do. The sharp drop in oil price hit the banks hard & likely triggered their collapse.
President-elect Barack Obama plans soon to introduce his energy and environment team, which will include Nobel Prize-winning physicist Steven Chu as energy secretary and former Environmental Protection Agency
Administrator Carol Browner as White House energy adviser.
The team's makeup shows that Mr. Obama plans to put a heavy emphasis on combating climate change and promoting technologies to wean the U.S. off imported oil...
In a sign of one major internal difference, Mr. Chu has called for gradually ramping up gasoline taxes over 15 years to coax consumers into buying more-efficient cars and living in neighborhoods closer to work.
Well, you may just KNOW IT from your experience, but your chart does not necessarily prove such, not without charts on the other things I mentioned....and analyzing them as well....
Care
Well, you may just KNOW IT from your experience, but your chart does not necessarily prove such, not without charts on the other things I mentioned....and analyzing them as well....
Care
When will you be through analyzing the charts on the other things you mentioned? MSNBC talking points don't count.
Not NOW. But in 2005 it was making the front page of USA Today, above the fold. Of course, peak happened, no one noticed, and certainly it isn't even WORTH talking about now except by backwoods intellectuals who just won't shut up about their religious beliefs.
You are truly the champion of unfalsifiable claim. It's like a defense mechanism for you. LOL
JiggsCasey said:To you morons, because we can't specify a particular hour of when it happened, we're somehow "wrong."
JiggsCasey said:Along those lines, pointing to one publication from six years ago does NOT support his claim, regardless of how desperately you try to spin, liar.
JiggsCasey said:If the media actually "blitzed" the topic of global resource depletion, it would be above the fold on A1 every day of every month.
Peak oil is a fact, and right now.
These type of idiots have been telling us we are at peak oil for over 90 years now & they still believe it. In 1919 the director of the U.S. Bureau of Mines predicted that "within the next two to five years the oil fields of this country will reach their maximum production, and from that time on we will face an ever-increasing decline."
That same year, National Geographic magazine predicted that oil shales in Colorado and Utah would be exploited to produce oil, because the demand for oil could not be met by existing production.
In January 1920, Dr. George Otis Smith, Director of the United States Geological Survey, in commenting upon our oil supply stated: "The position of the United States in regard to oil can best be characterized as precarious."
In May 1920, Dr. Smith said: "Americans will have to depend on foreign sources or use less oil, or perhaps both.
Former President Bill Clinton said Friday that delays in offshore oil and gas drilling permits are “ridiculous” at a time when the economy is still rebuilding... Bill Clinton reportedly criticized delays in oil drilling permits since last year's spill in the Gulf.
Like I keep telling OldRockHead & Jiggs Crazy, we keep on setting New World Oil Production Records month after month & year after year.
In 1919 the director of the U.S. Bureau of Mines predicted that "within the next two to five years the oil fields of this country will reach their maximum production, and from that time on we will face an ever-increasing decline."
That same year, National Geographic magazine predicted that oil shales in Colorado and Utah would be exploited to produce oil, because the demand for oil could not be met by existing production.
In January 1920, Dr. George Otis Smith, Director of the United States Geological Survey, in commenting upon our oil supply stated: "The position of the United States in regard to oil can best be characterized as precarious."
In May 1920, Dr. Smith said: "Americans will have to depend on foreign sources or use less oil, or perhaps both.
World oil supply rose 0.5 mb/d in January, 2011 to 88.5 mb/d, setting a new record high.
Bill Clinton: Drilling delays 'ridiculous'
Former President Bill Clinton said Friday that delays in offshore oil and gas drilling permits are ridiculous at a time when the economy is still rebuilding... Bill Clinton reportedly criticized delays in oil drilling permits since last year's spill in the Gulf.
Like I keep telling OldRockHead & Jiggs Crazy, we keep on setting New World Oil Production Records month after month & year after year.
In 1919 the director of the U.S. Bureau of Mines predicted that "within the next two to five years the oil fields of this country will reach their maximum production, and from that time on we will face an ever-increasing decline."
That same year, National Geographic magazine predicted that oil shales in Colorado and Utah would be exploited to produce oil, because the demand for oil could not be met by existing production.
In January 1920, Dr. George Otis Smith, Director of the United States Geological Survey, in commenting upon our oil supply stated: "The position of the United States in regard to oil can best be characterized as precarious."
In May 1920, Dr. Smith said: "Americans will have to depend on foreign sources or use less oil, or perhaps both.
World oil supply rose 0.5 mb/d in January, 2011 to 88.5 mb/d, setting a new record high.
and world oil usage? Is that at an all time high as well?
You are exactly right Care.Bush lifts executive ban on offshore oil drilling on July 14, 2008 That very day oil prices reversed its climb & began its decline to $33 until Obama took office promising drilling restrictions. Check the crude oil price chart below!
how do you know prices didn't fall because Americans pulled back and used less oil?
how do you know this wasn't due to the housing boom crash?
how do you know this is not from the bank failures taking place during this period?
I think, those things above would certainly have to be looked in to, before you can come to this conclusion of yours, Kissmy.....don't you?
You are exactly right Care.
First of all, oil prices were heading straight down starting July 4, 2008 until they peaked at $147.27 on July 11 due to unrest over Iranian missile tests. They started to decline the very next day, two days before Bush made his speech that added not one single barrel of oil that day.
The real reason for the dramatic drop in oil prices was not due to an increase in SUPPLY, but the dramatic drop in DEMAND!!!!
The law catches up to oil Irwin Kellner - MarketWatch
What is even more interesting is the reason for this plunge. It is not so much due to increased supplies of crude as to decreased demand for the black stuff. This is indicative of a major change in lifestyles, personal and corporate.
You have no clue dude! First of all the oil numbers & report only come out on Wednesdays. That means when oil stocks, draw downs, supply & demand were tallied up & the Cushing Oklahoma oil storage was lower than expectations on Wednesday July 9th 2008 so the oil speculators drove prices up over the next 2 days culminating in a new all-time high $147.27 trade on Friday July 11th 2008. These traders were willing to head into the weekend holding the most expensive oil ever purchased because they knew that Monday July 14th 2008 was going to bring even higher oil prices & that following Wednesdays lower oil inventories were going to drive prices even higher. Except when that Monday July 14th 2008 came around President Bush had a big surprise waiting for these crude oil speculators. Their days of running oil prices up were over when he opened up the OCS to drilling. This came 2 months after he & congress halted the filling of the Strategic Petroleum Reserve (SPR). The bankers that were using up most of the oil tanker fleet to secretly hold nearly 100 million barrels of oil in "floating storage" knew that the congressional OCS ban was about to expire & the government meant business when it came to increasing oil supply & dropping prices. It took these bankers & speculators about a year to unload all that "floating storage" from those tankers back into the marketplace crushing oil prices. It took almost a year to unload that excess "floating storage" storage even as OPEC reduced production to stabilize prices due to all these tankers unloading oil onto the markets.
