And oil will go higher.... It's harder to extract and reserves may be less than officially stated. Production and refining are at capacity. Demand is soaring worldwide, most notably in China. Most of the oil now comes from less than stable and friendly places on three continents.
Almost everything depends on oil. So many materials are based on it such as plastics. Not to mention production of goods and their transportation. Even our fertilizers. It will hit us more than just at the pump. Our debt based economy will take a big hit.
Well yes Brad, but if you Canucks can ever find a way to extract it from those oil sands of yours without it costing over $100 a barrel I'd be the first person to start buying good ol' Canadian oil.
Yeah, but I don't want to be putzing around dealing with logging on, looking at prices,etc., I just want a card that has 200 gallons prepaid on it and I can go to any Conoco or Mobil station and fill up.
Although, good ol' Hugo Chavez says he wants to help the poor get cheaper oil here in the US. I may be going to Citgo.
We've still got a ways to go before we hit our inflationary-adjusted highs.
And oil will go higher.... It's harder to extract and reserves may be less than officially stated. Production and refining are at capacity. Demand is soaring worldwide, most notably in China. Most of the oil now comes from less than stable and friendly places on three continents.
ReplyDeleteAlmost everything depends on oil. So many materials are based on it such as plastics. Not to mention production of goods and their transportation. Even our fertilizers. It will hit us more than just at the pump. Our debt based economy will take a big hit.
I more or less have to agree with you. Looking to see if I can lock in and prepay gas.
ReplyDeleteWell yes Brad, but if you Canucks can ever find a way to extract it from those oil sands of yours without it costing over $100 a barrel I'd be the first person to start buying good ol' Canadian oil.
ReplyDeleteWere they up 25% in Canadian dollars or US?
Cap'n-
ReplyDeleteregarding your desire to lock in a gas price-- there might be another option available through a mini-hedge fund. CNN Reports.
doinkicarus
Yeah, but I don't want to be putzing around dealing with logging on, looking at prices,etc., I just want a card that has 200 gallons prepaid on it and I can go to any Conoco or Mobil station and fill up.
ReplyDeleteAlthough, good ol' Hugo Chavez says he wants to help the poor get cheaper oil here in the US. I may be going to Citgo.