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(Reuters)   Crude oil ought to be $150 per barrel says Iranian official, right before shiat just got real   (reuters.com) divider line 23
    More: Interesting, Iranians, crude oil, Brent Crude, world economy, International Energy Agency, institutions of the European Union, oil producers, inflation rate  
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2586 clicks; posted to Business » on 17 Sep 2012 at 10:04 AM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-09-17 09:51:23 AM
We need the administration to start dumping reserves randomly to drive all profit out of the oil market. Then threaten to continue beatings until this "artificial" shiat stops.
 
2012-09-17 10:12:06 AM
Because 'Fark You' that's why
 
2012-09-17 10:29:18 AM
"the sanctions-hit country's OPEC governor said current oil prices were not high enough to threaten the world economy."

Oh good, I'm glad that's the line we're aiming for. The price JUST under being an active threat to the world's economy.
 
2012-09-17 10:37:43 AM
<b><a href="http://www.fark.com/comments/7330750/79431407#c79431407" target="_blank">evilmrsock</a>:</b> <i>"the sanctions-hit country's OPEC governor said current oil prices were not high enough to threaten the world economy."

Oh good, I'm glad that's the line we're aiming for. The price JUST under being an active threat to the world's economy.</i>

Iran needs high oil prices more than other OPEC countries. Their operations are very inefficient compared to other countries and need the money to continue to fund their state.
 
2012-09-17 10:49:07 AM

syberpud: <b><a href="http://www.fark.com/comments/7330750/79431407#c79431407" target="_blank">evilmrsock</a>:</b> <i>"the sanctions-hit country's OPEC governor said current oil prices were not high enough to threaten the world economy."

Oh good, I'm glad that's the line we're aiming for. The price JUST under being an active threat to the world's economy.</i>

Iran needs high oil prices more than other OPEC countries. Their operations are very inefficient compared to other countries and need the money to continue to fund their state.


They'd also like them to be high to fill their own treasury, while simultaneously ruining the US & EU's economies. So, win win win.
 
2012-09-17 10:53:16 AM
FTFA: Benchmark Brent crude prices rose to nearly $118 a barrel on Friday, stoking fears that surging energy costs could harm fragile economic growth. Days earlier, Saudi Oil Minister Ali al-Naimi said he was worried by high prices and the kingdom would take steps to moderate them.

But remember, boys and girls: The high price of gas is all B. Hussein Osama's fault.
 
2012-09-17 01:06:47 PM

Lee Jackson Beauregard: FTFA: Benchmark Brent crude prices rose to nearly $118 a barrel on Friday, stoking fears that surging energy costs could harm fragile economic growth. Days earlier, Saudi Oil Minister Ali al-Naimi said he was worried by high prices and the kingdom would take steps to moderate them.

But remember, boys and girls: The high price of gas is all B. Hussein Osama's fault.


His secretary of energy is on record of saying he wants ga sprices in the US to be as high as they are in Europe.

So yes actually, he is partially to blame.
 
2012-09-17 01:25:52 PM
Well it could be if all of you could get along. We aren't about to let that happen.
 
2012-09-17 01:35:27 PM
Once upon a time, OPEC wanted prices to stay between $22 and $28 per barrel. I wonder what happened to change their minds.
 
2012-09-17 02:24:47 PM
I think it was a couple of years ago, they said they would be happy with $75 a barrel.

Price of gold plated Caddys, Lexus and Mercedes must be up.
 
2012-09-17 02:30:22 PM

TIKIMAN87: His secretary of energy is on record of saying he wants ga sprices in the US to be as high as they are in Europe.

So yes actually, he is partially to blame.


The prices in Europe are higher because of taxes. They pay the same barrel price as the rest of the world.

High fuel TAXES would help fix the deficit and (i theory) help drive innovation in mileage and alternative fuels.

In other words.... I don't think the secretary was for increasing the barrel price.
 
2012-09-17 02:39:15 PM
The funny thing is, that fuel at the pump is now more expensive than when oil was at 169$ a barrel

/not really funny though
 
2012-09-17 02:45:06 PM

SpectroBoy: TIKIMAN87: His secretary of energy is on record of saying he wants ga sprices in the US to be as high as they are in Europe.

So yes actually, he is partially to blame.

The prices in Europe are higher because of taxes. They pay the same barrel price as the rest of the world.

High fuel TAXES would help fix the deficit and (i theory) help drive innovation in mileage and alternative fuels.

In other words.... I don't think the secretary was for increasing the barrel price.


Well whatever cost factor is he still wants the price high. I would think the secretary of energys job is to make sure Americans pay a low price for energy, not wanting Americans to pay more just to drive to work.
 
2012-09-17 02:54:37 PM

lucksi: The funny thing is, that fuel at the pump is now more expensive than when oil was at 169$ a barrel

/not really funny though


Something something refining capacity something EPA regulations something something NIMBY, derp.

/just yadda-yaddaing over the usual talking points
 
2012-09-17 02:56:39 PM
 
2012-09-17 03:27:38 PM
Good thing oil prices just got hammered down this morning. I'm sure there was a very good reason.
 
2012-09-17 03:29:21 PM
Today I was glancing at the WSJ and they seemed to have a story abotu abolishing the gas tax. I duno to what end for temp or permenent. I need to go back and read it. Would be nice if it eased up a bit. Still waiting for my transfer closer to home.
 
2012-09-17 04:38:18 PM

SpectroBoy: TIKIMAN87: His secretary of energy is on record of saying he wants ga sprices in the US to be as high as they are in Europe.

So yes actually, he is partially to blame.

The prices in Europe are higher because of taxes. They pay the same barrel price as the rest of the world.

High fuel TAXES would help fix the deficit and (i theory) help drive innovation in mileage and alternative fuels.

In other words.... I don't think the secretary was for increasing the barrel price.


Actually no. The Brent crude from the North Sea is 116USD a barrel, whilst the WTI (West Texas Intermediate) is "only" 96USD a barrel. So the US oil /is/ cheaper per barrel.

/it probably isn't because of quality differences.

I can't be arsed to read why it is so, but there's an article about it: http://ourfiniteworld.com/2011/02/19/why-are-wti-and-brent-prices-so-d ifferent/

But I believe the price difference is due to the quality of the oil pumped out of the ground. So I gather the price is normalized once it has been through a refinery.
 
2012-09-17 04:38:45 PM

GanjSmokr: Good thing oil prices just got hammered down this morning. I'm sure there was a very good reason.


Oil rigs off Louisiana probably are back up and producing.
 
2012-09-17 04:48:44 PM

spawn73: SpectroBoy: TIKIMAN87: His secretary of energy is on record of saying he wants ga sprices in the US to be as high as they are in Europe.

So yes actually, he is partially to blame.

The prices in Europe are higher because of taxes. They pay the same barrel price as the rest of the world.

High fuel TAXES would help fix the deficit and (i theory) help drive innovation in mileage and alternative fuels.

In other words.... I don't think the secretary was for increasing the barrel price.

Actually no. The Brent crude from the North Sea is 116USD a barrel, whilst the WTI (West Texas Intermediate) is "only" 96USD a barrel. So the US oil /is/ cheaper per barrel.

/it probably isn't because of quality differences.

I can't be arsed to read why it is so, but there's an article about it: http://ourfiniteworld.com/2011/02/19/why-are-wti-and-brent-prices-so-d ifferent/

But I believe the price difference is due to the quality of the oil pumped out of the ground. So I gather the price is normalized once it has been through a refinery.


Depends on where the oil came from. Refineries on the eastern seaboard that use imported North Sea oil pay the Brent price.
 
2012-09-17 07:48:27 PM
Ain't no Iranian piece of shiat touching my oil.
 
2012-09-17 09:37:20 PM

TIKIMAN87: Well whatever cost factor is he still wants the price high. I would think the secretary of energys job is to make sure Americans pay a low price for energy, not wanting Americans to pay more just to drive to work.


What you describe is short term planning. I think the secretary should take a longer view which requires considering conservation, alternative energy, etc.
 
2012-09-18 02:15:48 AM

Lee Jackson Beauregard: FTFA: Benchmark Brent crude prices rose to nearly $118 a barrel on Friday, stoking fears that surging energy costs could harm fragile economic growth. Days earlier, Saudi Oil Minister Ali al-Naimi said he was worried by high prices and the kingdom would take steps to moderate them.

But remember, boys and girls: The high price of gas is all B. Hussein Osama's fault.


of COURSE its not his fault. NOTHING is his fault, just ask him.
 
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