Oil at $100 Barrel

[Twoaday]

ummm......NO!!!!!!!!!!!!!!!!!!!..... that would mean 4 more years of George Bush-like president type... no thanks

[swh1972]

In an unrelated story Exxon Mobile reported record Fourth Quarter earnings of $11.66 billion this morning.

[Raintree21]

I believe that was the largest quarterly earnings ever reported by a US company.

[Lowerdeck]

indeed, breaking their own record.

They made something like 41 billion last year. How much is their stock? I gotta get me some of that.

[Raintree21]

$85.95. I've received pretty good dividends on them over the last few years. Unfortunately, I only have 60 shares so it doesn't add up to much

[Lowerdeck]

Looks like I need to start saving up a ton of paychecks. Or go back to Foxwoods more often.

[swh1972]

April Light Crude Futures are trading above $109 today, and have approached $110 per barrel. The average price for a gallon of regular gas in the U.S. is $3.25, up significantly since the beginning of the year.

[suburban george3]

I am working in WV and gas went from $3.25 to $3.49 overnight (regular unleaded) and diesel is now $3.99 here.

Regular also increased at the WalMart Supercenter close to my house from $3.12 to $3.25 overnight Sunday before I left.

Oil is still trading significanlty HIGHER than what it should be, but with the dollar tanking, inverstors are hedging their funds in Oil Futures helping to drive up the price. Of course S.American violence and Mid-East jitters don't help any either....

[Raintree21]

I could have sworn they were predicting a DROP in gas prices before summer came.

[Lowerdeck]

I could have sworn they were predicting a DROP in gas prices before summer came.

[MZT]

www.theoildrum.com

We may have already found and extracted all of the easily pumped oil. If so, the remaining oil will be increasingly harder to retreive, lower quality, and more expensive to process.

In addition, oil producing countries have growing populations and growing energy needs. They will be exporting less, if they can't raise production.

Less oil, higher price. Supply, meet demand.

[suburban george3]

Less oil, higher price. Supply, meet demand.

[runawayjim]

We may have already found and extracted all of the easily pumped oil. If so, the remaining oil will be increasingly harder to retreive, lower quality, and more expensive to process.

[erdogs]

i'm actually probably skipping hybrid and going diesel for my next car (assuming subaru brings their new diesel engine to the US in 2 years). mileage is a whole lot better (the increased mileage actually does offset the higher cost of diesel).

[Raintree21]

Why would gas prices go down? The dollar is losing too much value, and other countries can buy oil easier. And when that isn't enough... there's still 10 months of unregulated price gouging so everyone in the inside can make obscene amounts of money.

[sean]

Energy returned on energy invested (EROEI). Light, sweet, crude oil has a very high EROEI ratio. Heavy, sour, crude oil and the other batch of alternatives: Tar sands, oil shale, switchgrass, etc. these offer significantly lower EROEI ratios. Significantly lower!

I'm becoming more concerned that our future involves facing a paradigm shift in the way we harness energy and in the way we organize life.

[dxartist]

You can also convert it to use used vegetable oil for fuel. I don't understand why switchgrass isn't more of an option. It grows just about any where and you get more production than from either corn or sugar cane. It also won't affect food production.

[runawayjim]

You can also convert it to use used vegetable oil for fuel. I don't understand why switchgrass isn't more of an option. It grows just about any where and you get more production than from either corn or sugar cane. It also won't affect food production.

[mclawsdrive]

i'd probably use B20 biodiesel (20% bio, 80% petrol). i don't have any expertise in converting engines and i wouldn't want to void any warranties.

[runawayjim]

I wouldn't be able to use veggie oil unless i had an engine block heater. it gets too cold here. my car would literally be frozen.

[suburban george3]

I am working in WV and gas went from $3.25 to $3.49 overnight (regular unleaded) and diesel is now $3.99 here.

[runawayjim]

Diesel went to $4.19 a gallon here in New Martinsville, WV today..

[monsoon]

Keep in mind that an diesel engine can't directly burn un modified vegetable oil. You need to make some engine modifications for that to happen. The other way of course is to convert the vegetable oil into bio-diesel. It's not a difficult process if you want to do it yourself but it does cost some to get the equipment to do it.

Also keep in mind that our idiot state and federal governments has some issues with buring vegetable oil and homemade biodiesel. I believe there are EPA issues with the vegetable oil solution and if most state governments find out you are using homemade biodiesel, they will attempt to fine you for back taxes on the fuel.

[sean]

Made me laugh because my wife and her friends all snicker when they see a Hummer.

[Miesian Corners]

^That cartoon is perfection.

I had the strangest thing happen this morning. I went to church (yes, that in and of itself is strange, but that's not it) and parallel parked in front of a Hummer H2. The Sunday School class I am attending is all about environmental stewardship and how religious tradition holds that we are to love mother earth and take care of her for future generations. Upon leaving, I was shocked to see the car behind mine was now a brand spanking new Smart Car. I laughed my ass off thinking that God must've heard our prayers and turned all SUVs into things slightly more sensible.

If you've never been, pay a visit to www.fuh2.com. Lots of fun!