Topic: Oil dropping to $28 a barrel? I would hope NOT!

[Father Ted]

Another option, that the environmentalists have effectively barred from the US, is nuclear power. Three Mile Island and "The China Syndrome"(an absolute farcical hit piece) absolutely destroyed nuclear power in this country. It wouldn't affect oil prices in the short term, but a few more reactors would cut our reliance on oil more than most people realize.

[Ravok]

Another option, that the environmentalists have effectively barred from the US, is nuclear power. Three Mile Island and "The China Syndrome"(an absolute farcical hit piece) absolutely destroyed nuclear power in this country. It wouldn't affect oil prices in the short term, but a few more reactors would cut our reliance on oil more than most people realize.

 Really good point. I have brought it up my self before.

 They have a new generation of "Cool" lithum reactors, that are not water colled and cannot melt down. Perfect for our needs .

 But the instant you mention nuclear anything , Your right the Enviorlmentalists go into a sh*te panic.

 I guess they figure its better, to smother the planet in green house gasses.

[Father Ted]

Hell, I figured out how to make fusion work 10 years ago. I'm just waiting for the engineers to catch up...

[Jack Morris]

I saw one rig off Galveston Island, and unfortunately there are hundreds out there in the gulf that are already dry and sit unused. Hence the fish farming or bring them ashore methods. I prefer using old ships and sinking them for attracting fish naturally as I lived on the Gulf for many years being a Navy brat. Oil rigs are like oil tankers, they need to be brought in at the end of their life span and thoroughly cleaned and made into recyclable metal, IMO.

[J. Carney]

il rigs are like oil tankers, they need to be brought in at the end of their life span and thoroughly cleaned and made into recyclable metal, IMO.

Just take 'em in, melt 'em down, and ship 'em back out as new rigs and tankers.

[Ravok]

il rigs are like oil tankers, they need to be brought in at the end of their life span and thoroughly cleaned and made into recyclable metal, IMO.

Just take 'em in, melt 'em down, and ship 'em back out as new rigs and tankers.

 Good thinking . I would love to see that be law.

 And artificial reefs are a god send, depleted as fish stocks have gotten.

[Jack Morris]

Oil is now at 50 plus a barrel, the way things are going, we may see the 40's again. I'm very interested in NAT's dividends announcement at end of month, then in May is Frontline's 1st QTR results. Hopefully they do not BS anyone, as oil stayed up for a much longer period than in Oct of 2004.

Oh well, nothing lasts forever these days, and at least it was a wake up call for America and their driving habits.

[Clark Kent]

Oh well, nothing lasts forever these days, and at least it was a wake up call for America and their driving habits.

This is true, but if prices drop, you know how forgetful Americans can be. 

[Jack Morris]

I hear ya Clark, I remember after the first Gulf War and oil crashed for about a decade. SUV and big truck manufacturers were NOT complying with govt. mileage standards, but did they care? Of course not, the fines per vehicle are petty and the vehicles were selling like hotcakes, and we all know the manufacturers just passed on the EPA fine to the consumer. Of course they will NEVER admit that! 

[Clark Kent]

NO, they just do their own thing.  They're smart enough to know where profit lies and how to get it, so if it's more profitable to suck up the fine, they'll do it.
Was just looking at gas prices in the twin cities.  the irony?  The lowest gas prices tend to be in the highest income areas.

[Dracho]

The price of gas will lag for a while, before following oil down.  The oil companies are making their margin now, on falling oil, because the margin on a gallon of gas is better than when oil is rising.

[Musashi NCC-BR549]

Good article, Jack!  I don't see $28/bbl by this summer, but I predict crude to bounce off of the $35-$40 range.   When it becomes obvious that crude isn't going to hit $80/bbl, all of the hedge fund guys that make a living riding trends will sell their futures contracts and move on to something else.   When that happens, Crude prices will drop like a rock.


Of course, if something blows up in the ME or Chavez declares war on Columbia ... or sumthin' .... well, we'll be right back where we started.

[Jack Morris]

http://biz.yahoo.com/ap/050414/oil_prices.html?.v=5

Hmmmmm, driving season, and as usual some people misjudge Asia's needs.