'Squawk Box' Guest Warns of $12-15-a-Gallon Gas

[cindylou]

I dont know anything about cars, but what exactly is it that requires a vehicle to use so much gas? I cant believe that we cant build an engine that still uses gas, but can run 300 miles a gallon. who cares if gas is 15 bucks a gallon when you only need one gallon to fill your tank.

Its like filling up a lake to take a bath.

 

[digimon7068]

Full of crap. I think oil will head back to $100 by sept. and $80 by turkey day.


Oil is in a bubble right now with 20-30% premium just from speculation.

US consumer has been wounded by high gas prices and is pulling back right now. Watch for the next inventory numbers, last weekend kicks off the summer driving season and if consumption is down specualtors will be heading for the door.

Why? Becuase the US is the biggest most wasteful user in the world of oil. China isn't even in the running. The US pulls back and there will be plenty of oil to go around.

Refineries are a different subject.

there really IS only so much oil, though. . .even with all the new technology that's being created each day, a crisis is inevitable. . .hell, right now a LOT of the damn fertilizers that we use on our fields to grow food, are petroleum-based. . .if you don't think that there is going to be serious problems in the not-to-distant future, then you still have your head in the sand. . .

 

[big_bad_buff]

you are assuming OPEC still has enough supply to control the situation.

exactly, what would someone(the elite) do to destroy americans economic system? raise gas prices

 

[big_bad_buff]

There could also be oil at the bottom of oceans....but who has the technology to go that deep yet

bro, america has more oil than we know what to do with, the oil reserve in alaska along with the bakken oil fields is probably more than they have in the middle east

 

[big_bad_buff]

you guys need to think outside of the box, turn off fox news and look around what has happened to america in the last even 10 years. everything the goverment has done has harmed our economy. we have been in iraq for 7 years, we arent aloud to win the war, the whole point is to get us more in dept and to kill off saddam because he wasn't playing our game. in order to put forth the north american trade union we have to have one currency, in order to do that we have to kill the american dollar

 

[digimon7068]

you guys need to think outside of the box, turn off fox news and look around what has happened to america in the last even 10 years. everything the goverment has done has harmed our economy. we have been in iraq for 7 years, we arent aloud to win the war, the whole point is to get us more in dept and to kill off saddam because he wasn't playing our game. in order to put forth the north american trade union we have to have one currency, in order to do that we have to kill the american dollar

yeah. . .ummmm. . .that's a little too "outside the box" for me there buffy. . .

 

[billfred]

bro, america has more oil than we know what to do with, the oil reserve in alaska along with the bakken oil fields is probably more than they have in the middle east

That is not correct. It doesn't matter how much we have it is how much we can produce or bring on line. No matter how good that number may seem, it is not as much as current fields are declining.

That is why, even with excellent economics, oil production has not increased since 2005. It is peak oil - and I believe it is real.

 

[cindylou]

you guys need to think outside of the box, turn off fox news and look around what has happened to america in the last even 10 years. everything the goverment has done has harmed our economy. we have been in iraq for 7 years, we arent aloud to win the war, the whole point is to get us more in dept and to kill off saddam because he wasn't playing our game. in order to put forth the north american trade union we have to have one currency, in order to do that we have to kill the american dollar

No.

 

[billfred]

you guys need to think outside of the box, turn off fox news and look around what has happened to america in the last even 10 years. everything the goverment has done has harmed our economy. we have been in iraq for 7 years, we arent aloud to win the war, the whole point is to get us more in dept and to kill off saddam because he wasn't playing our game. in order to put forth the north american trade union we have to have one currency, in order to do that we have to kill the american dollar

Talk about turning off the TV set - that sounds like it is coming directly out of Lou Dobbs mouth.

 

[big_bad_buff]

That is not correct. It doesn't matter how much we have it is how much we can produce or bring on line. No matter how good that number may seem, it is not as much as current fields are declining.

That is why, even with excellent economics, oil production has not increased since 2005. It is peak oil - and I believe it is real.

if your statement is true why are we allowing china to drill our oil and export it back to their country? Green peace baby, it's all a scam.

There are new reports out circulating that Chinese firms are planning to slant drill off the Cuban coast near the Florida Straits, tapping into U.S. oil reserves that are estimated at 4.6 billion to 9.3 billion barrels. This compares with 4 billion to 10 billion barrels believed to be beneath the Alaska National Wildlife Refuge, where drilling is held up in Congress due to the objections of environmental groups which warn of endangering caribou. Permission to drill in the refuge, which experts are certain will not present any environmental hazard, has failed by just two votes in the Senate.




http://www.heartland.org/Article.cfm?artId=19479

http://answers.yahoo.com/question/index?qid=20080110103201AAHkfqs

http://www.itsyourtimes.com/?q=node/1166