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(CNN)   Fark joked about, but CNN actually said it: "Oil prices shot up [because of] a forecast that oil would hit $150 by July 4."   (money.cnn.com) divider line 441
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7353 clicks; posted to Main » on 06 Jun 2008 at 4:51 PM (6 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2008-06-06 05:19:02 PM
You want to fix the problem, and stop biatching about it?

Support Algae Oil, write everyone in power that you konw, and tell them you want Algae oil today!


http://www.oilgae.com
http://en.wikipedia.org/wiki/Algae_fuel
http://www.djcoregon.com/articleDetail.htm/2008/06/05/Fact-or-fantasy
Shiat, that last one even comes from our friends at Mythbusters!

DO SOMETHING.
 
2008-06-06 05:19:25 PM
studebaker hoch:
Not true. I still drive my truck, but only maybe once a week now if that, for all errands in one trip. I put 5 gallons in it last month, and most of it is still there.

My gas price is now less than $20 a month, now that I've started riding the bike to just about everywhere.

The money I save matters. It's a lot!


I don't drive a lot, but between work and food I might spend ~$200 a month including my wife's gas bill. That's not a lot compared to rent and other bills. YMMV of course (pardon the pun).


At 10x the price, I can still afford all the food I care to eat.

My only fear is that other people won't, and they will spaz out and riot, and disrupt the distribution chain, and we won't get food at any price.

So my fear isn't the oil prices really. It's the reactions of the people around me to the oil prices.

If the price keeps going up when demand is going down, then it's a bubble and will correct when the hype dies down. I wouldn't buy oil futures now.


My concern is a domino effect. Increased prices are going to put people on the edge out of business, which in turn will increase other prices.

Not predicting the collapse of all society, but I think it could get a lot worse then people are expecting.
 
2008-06-06 05:19:36 PM
Farkn Yaj Yenrac

That was no joke. There is no doubt that speculation is causing oil prices to rise.

So, all this speculation is driving all the prices up to an artificial high. And soon it'll all come crashing down because of all these people are substantially limiting their oil consumption due to the artificially high prices.

/wait a minute...
 
2008-06-06 05:19:43 PM
dmoynihan: India and Malaysia, on Wednesday, announced that they were cutting oil subsidies. Price of gas in those two countries shot up 50% overnight (to around $3.50 a gallon).

At that price for gas, it might make sense to invade THOSE bastards.
 
2008-06-06 05:20:07 PM
delicflower13x3: I blame some of this on Bilderberg. Dunno why, but rich fat bastards getting together in a secret meeting recently and then all this USD going down the toilet and gas prices making you buy store brand mac n cheese at triple what you paid a year ago and ramen going up. Just the other day my roommates and I did "monthly shopping" and we didn't even buy ramen, it was 20cents a bag,...that's double what it was three MONTHS ago!

/I'm scared
//runs
///hides


It's all a conspiracy. Personally, I blame the Joooos.
 
2008-06-06 05:20:12 PM
shawn82

Oh, goody.. another War Against X

I would be on the side of X.

Mmmmmm X.

/hugs
 
2008-06-06 05:21:03 PM
studebaker hoch: I bet I've easily ridden it around the Earth in total miles.

Damn...wish you had told me. I'd have asked you to pick me up some milk while you were out.
 
2008-06-06 05:21:26 PM
TeddyRooseveltsMustache: 2012 Scion TC:

So where are the breaks?
 
2008-06-06 05:21:34 PM
uhn, when I submitted this I wasn't joking about it. It was the headline from AP also.
 
2008-06-06 05:22:19 PM
Get one of these and learn to use it

farm3.static.flickr.com

/smug
 
2008-06-06 05:22:26 PM
TeddyRooseveltsMustache: 2012 Scion TC:

Sweet! What's the XB gonna morph into?
 
2008-06-06 05:22:27 PM
Dance

I don't drive a lot, but between work and food I might spend ~$200 a month including my wife's gas bill. That's not a lot compared to rent and other bills. YMMV of course (pardon the pun).

If you're spending $200 a *month* on vehicles, I would really, really consider the alternatives.

My concern is a domino effect. Increased prices are going to put people on the edge out of business, which in turn will increase other prices.

Not predicting the collapse of all society, but I think it could get a lot worse then people are expecting.


Yes, exactly. Now if everyone just behaved as they politely starved, and ate their cat for dinner, we'd be fine.
 
2008-06-06 05:22:36 PM
I blame some of this on Bilderberg. Dunno why, but rich fat bastards getting together in a secret meeting recently

Crazy conspiracy theorist!!! There is no relation to their "special" meeting in June 2007 (first known time they had two meetings in a year) and fact that the market starting tanking the Monday afterwards! No way they are related. That would just be crazy.
 
2008-06-06 05:22:44 PM
Ah well, at least my rainwater barrels are full.

I may not want to spend the money to drive anywhere, but at least I can keep my bushes watered.

Dammit, though, I wish it'd start raining gas.
 
2008-06-06 05:22:57 PM
TFer: You want to fix the problem, and stop biatching about it?

Support Algae Oil, write everyone in power that you konw, and tell them you want Algae oil today!


http://www.oilgae.com
http://en.wikipedia.org/wiki/Algae_fuel
http://www.djcoregon.com/articleDetail.htm/2008/06/05/Fact-or-fantasy
Shiat, that last one even comes from our friends at Mythbusters!

DO SOMETHING.


If mythbusters says it then it must be good for our future. They are our friends.

In related news Algae oil futures up to 300 dollars a barrel on news of renewed interest.
 
2008-06-06 05:23:13 PM
If a stock trader did this, it would be illegal.

Didn't some guy get busted a while back for putting out fake analyst reports on $somecompany so that he could make a profit off the price spike?

/obviously not a finance major
 
2008-06-06 05:23:17 PM
studebaker hoch: shawn82

Oh, goody.. another War Against X

I would be on the side of X.

Mmmmmm X.

/hugs


I'm waiting for the technology that will allow us to render ravers down for fuel. Burning man would become the new Saudi.
 
2008-06-06 05:23:26 PM
IXI Jim IXI

Damn...wish you had told me. I'd have asked you to pick me up some milk while you were out.

Yeah but it would have come back years later...as "mexican bathtub cheese".
 
2008-06-06 05:23:56 PM
Eh...I'm not worried...eight or nine more televised Congressional hearings with US Oil Execs will set things right. This Congress has a record for getting things done.

Yeah that sounds about right.
 
2008-06-06 05:23:57 PM
dryknife: Sweet! What's the XB gonna morph into?

They're only planning on a minor design change:

farm1.static.flickr.com
 
2008-06-06 05:24:35 PM
PirateKing: If a stock trader did this, it would be illegal.

Yeah, but if all the stock traders did it, it becomes policy.
 
2008-06-06 05:24:58 PM
shawn82

I'm waiting for the technology that will allow us to render ravers down for fuel. Burning man would become the new Saudi.

Ravers wouldn't be much good, not enough fat on them.

You want mall rats and internet tough "guys".

/and did you check out "Crude Awakening" last year? That was the biggest fireball I ever saw in my life. un.friggin.real.
 
2008-06-06 05:25:24 PM
dmoynihan: support your local breweries!

Good point.
 
2008-06-06 05:25:32 PM
studebaker hoch: Yeah but it would have come back years later...as "mexican bathtub cheese".

Hahah...well done, connecting the dots.
 
2008-06-06 05:26:08 PM
bolzy: Close the ENRON Loophole



NOW


never bring sense to a FARK thread


EVER
 
2008-06-06 05:26:30 PM
studebaker hoch: Get one of these and learn to use it.

Mine came in today, Surly Long Haul Trucker.
img221.imageshack.us
 
2008-06-06 05:26:37 PM
Write your local Senator or Congressman and tell him to open up drilling in CEO jowels IMMEDIATELY.

www.blah3.com
 
2008-06-06 05:27:08 PM
studebaker hoch:
If you're spending $200 a *month* on vehicles, I would really, really consider the alternatives.


Closer to $800 until they're paid off.

For alternatives - I don't live in an area with real public transportation, and biking to work would require me to be suicidal.

Yes, exactly. Now if everyone just behaved as they politely starved, and ate their cat for dinner, we'd be fine.

I plan to set traps for the feral cats in my backyard first.
 
2008-06-06 05:27:26 PM
Just what the hell does President Bush have to do with gas prices? This is a Republic... do you really want the leader of our nation to regulate the price of gas?

We all need milk and bread... why can't he drop those prices too?

Blaming the president for high gas prices is like blaming the manager of a baseball team for high popcorn prices at the game.
 
2008-06-06 05:27:48 PM
studebaker hoch: shawn82

I'm waiting for the technology that will allow us to render ravers down for fuel. Burning man would become the new Saudi.

Ravers wouldn't be much good, not enough fat on them.

You want mall rats and internet tough "guys".

/and did you check out "Crude Awakening" last year? That was the biggest fireball I ever saw in my life. un.friggin.real.


Didn't see it live, caught it on the youtubes, though.
 
2008-06-06 05:28:08 PM
F.A.R.K.M.E., Seattle's still a big 2-wheel town. Just take the Metro-that way you won't die a horrible death @ the hands of a Kirkland Soccer Mom on the phone in her SUV

Speculators are doing this, I think of the words of the driver of the Porkchop Express; Bastards Must Pay
 
2008-06-06 05:28:27 PM
doyner: I've said it before and I'll say it again...

INVEST IN OIL!!!!

And drive an old 40 MPG 4-banger.


A high-mpg ride is always a good idea, but the only reason I'd invest in oil right now is to short it. When pure speculation bootstraps prices up and up, it's called a bubble.
 
2008-06-06 05:29:10 PM
www.madmaxmovies.com



/can't wait
 
2008-06-06 05:29:43 PM
RangerVet75: Blaming the president for high gas prices is like blaming the manager of a baseball team for high popcorn prices at the game.

It's interesting that one of the only times he's decided to be "government hands-off" in his administration is with something like this, where his buddies stand to profit.
 
2008-06-06 05:29:44 PM
RangerVet75: Just what the hell does President Bush have to do with gas prices? This is a Republic... do you really want the leader of our nation to regulate the price of gas?

We all need milk and bread... why can't he drop those prices too?

Blaming the president for high gas prices is like blaming the manager of a baseball team for high popcorn prices at the game.


Sir, this is Fark. There is no room for rational discussion here.
Now strip down, paint yourself blue and join us around the fire for chanting and atavistic howling.
 
2008-06-06 05:30:13 PM
mikaloyd

Joke all you want, but if I have succeeded in enlightening you about the only possibly solution to this mess, then my work here is done.

I can throw up another 1,000 links from place like Harvard, DOE, DOD, and others if Mythbusters are not enough authority for ya. :)

The key points are that algae is the fastest growing plant on the planet (they also use CO2 to grow) and it is NOT PART OF THE FOOD CHAIN.
 
2008-06-06 05:30:14 PM
Actually the equation is somewhat more complex.

US Fed Bank wants to shore up the dollar, but that's not in the interest of the European Central Bank, so they threatened to raise interest rates, which led to another tumble of the dollar based on speculation.

In turn, European investors, who are always into getting a good deal, purchased additional oil futures, since their Euro is able to stretch ever so much further due to the threat of increased interest rates. This in turn caused a minor panic in the US market, people dumping money out of stocks to follow the European lead in driving oil prices up.

Basically, whoever encouraged Jean-Claude Trichet the President of the European Central Bank to threaten to raise interest rates in order to make some short term money on oil futures cost a lot of people a lot of money, including you and me in the bread we buy.

The main solution to this problem is to actually stabalize the dollar, but if the Fed even looks at touching interest rates we're going to be in for a severe reaction from the sheep on Wall Street, resulting in numerous blue chip companie disolving and hundreds of thousands of jobs going poof overnight.

My prediction? A giant sucking "Whooosh" sound as investors get nervous about oil next week when the Central Euro Bank refuses to raise their interest rates. This was a Friday cash grab shuffle.
 
2008-06-06 05:30:25 PM
Did anyone hear the story about mortgages on This American Life? The podcast is still available. In short, the Federal Reserve sent signals out that made investing in T bills a less attractive option for investors. Those investors started buying mortgage funds at such a rate that banks started approving loans with no income verification. Obviously the bottom fell out. So where is all that money going? Seems energy commodities is the answer, it seemed like when the bubble for mortgages burst and major lenders started having problems, the oil market took off. Is this crazy talk or does this make sense?
 
2008-06-06 05:31:00 PM
Now if only I were not afraid of getting killed riding to work... it is only 7 miles but the only road that direction has no shoulders or sidewalks.
farm3.static.flickr.com
 
2008-06-06 05:31:24 PM
Where is all the oil from Iraq going now? Shouldn't that stuff be headed to the US in big giant tankers by now?
 
2008-06-06 05:31:38 PM
Oh Fark it... I'm in. Where's the blue paint?

/Someone post a good pic already!
 
Pav
2008-06-06 05:32:46 PM
We are all so quick to point out that its something else that is responsible for our problems.

Wake up.

Every single person who wrote a post in this thread is guilty including myself. I am trying to be better but I'm addicted to electricity and plastic. I am addicted to gasoline.

Everyone say it because if you are reading this you are guilty.

It's just a matter of by how much, and what you're willing to spend to get off the stuff. Are you willing to pay up for solar panels or maybe do without your gas guzzler and go hybrid?

Probably not because your selfish. Just like I am. Just like most people are. You have your selfless people floating around but they are very rare and I highly doubt they are reading this.

The first step to kicking any addiction is admitting you have a problem.

I have a problem. And I'm doing something about it. I bucked up the extra few bucks and bought a hybrid 1 year ago this week as our second car due to the fact that my wife and I would both be driving to work. I'm looking into getting my house off of oil so I am fully electric and ready for when I can afford to put some panels on the roof.

I'm trying.

And when I'm done I'll be much better off for it. Just like quitting any addiction.
 
2008-06-06 05:33:18 PM
Simple fix, just triple the margin. Will drive everyone who is using heavy leverage right out. Or you could be a real bastard, get rid of margins all together.
 
2008-06-06 05:33:30 PM
for Canadians, gas is going up about 6 cents a litre (23 cents a gallon) tomorrow according to Dan McTeague... diesel up 8 cents
 
2008-06-06 05:33:38 PM
manwithdaplan: Where is all the oil from Iraq going now? Shouldn't that stuff be headed to the US in big giant tankers by now?

Just because Bush went to war for oil, it didn't mean he ever intended us to see any of it.
 
2008-06-06 05:34:35 PM
Pav: We are all so quick to point out that its something else that is responsible for our problems.

if the price of oil reflected current supply and demand reality? it would be half of what it is now, and maybe not even that high. The current oil market issues have zero to do with the fundamentals involved.
 
2008-06-06 05:35:30 PM
Well, when civization collapses and everything descends into anarchy, I am sure oil prices will steady out.
 
2008-06-06 05:36:14 PM
mikaloyd: bolzy: Close the ENRON Loophole

Go suck some speculator's dick and check up on your pension fund invested in oil futures.

/moron



NOW


never bring sense to a FARK thread


EVER
 
2008-06-06 05:36:41 PM
I don't advocate riding a bicycle if it's dangerous.

No amount of fuel savings will be worth getting hit.

Your guts will know if it's safe or not. Check with your guts. If they're all over the road, it's too dangerous.
 
2008-06-06 05:37:05 PM
IXI Jim IXI

manwithdaplan: Where is all the oil from Iraq going now? Shouldn't that stuff be headed to the US in big giant tankers by now?

Just because Bush went to war for oil, it didn't mean he ever intended us to see any of it.


So, what exactly is he doing with it? combing his hair? store it underground and wait for it to turn into gold?
 
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