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RosieC's Blog

by RosieC from las vegas

Last Post 97 days, 8 hours Ago


Why does it take the threat of OFF Shore Drilling,decreased gas usage and the investors selling off there oil and gas holdings to bring the price of oil and gas down?What happened to oil going to $200 a barrel and gas to $6.00?
Do oil company's realy want off shore drilling?Iguess if they did they would start drilling now on the millions or acre's of already leased oil feilds they have!
Why hasen't the US looked into getting oil from our South American neighbor's such as Venezuala.China has been talking to africa for oil rather the saudi oil.
   Is it because the oil company's are using the old hand trick?They use the left hand to sell to the right hand at a large profit.Then the right hand sells to the it's intermediate company at higher profits .Then to the end user's at another profit.Why do u think the oil companie's made so much profit even with the price of oil being so high.Isn't it suppose to be the reverse?
Don't think with this drop in prices it's all better.We need to make changes now.We only have moved into the EYE of the Storm.We need to prepare for the back end to hit us!
What do u think?
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Member Comments Total Comments: 6
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Graham_Cracker read my blog view my photos
Aug 16, 2008 | 4:53 PM

I think you may be right.

But another interesting point on this topic is made under lafko's blog.

I think we can't really say for sure just exactly what the truth of the matter is because we're not privy to all of the facts. The oil game seems to be a very recondite, esoteric one.

Chip read my blog view my photos
Aug 18, 2008 | 4:37 AM

I think that the major US oil companies profits for the last quarter did not meet Wall Street estimates, telling us that the oil companies aqre not the ones making the profits here.

nomorehacks read my blog view my photos
Aug 20, 2008 | 12:55 PM

The price is set by the commodities market. Any threat that demand will decrease will lower the price,and any threat,like a hurricane in the gulf will raise the price. The commodities market is based on nothing but FEAR!
The oil company profits are just incidental. The term now is "demand distruction". People have traded or parked their SUV'S, for smaller cars. So the lower demand is a new standard for establishing the price. We are approaching the 200 day moving average on the price per barrel. If the price goes to $110 per barrel,then it will continue to dercrease,to as low as $85 per barrel. If it dosent break the 110 threshold, then it will slowly increase again, but not to the previous high of $145,that will take at least another year. The price right now is $114,down .45 cents for the session. It is looking good for the $110 threshold. We all still have to keep acting like the price for gas is over $4.00 a gallon. Keep conserving, and that will help keep the price down

Chip read my blog view my photos
Aug 20, 2008 | 6:31 PM

Don't forget the strengthening dollar vs the euro. That and that alone will drive it below 110.

RosieC read my blog
Aug 25, 2008 | 8:17 AM

I believe the oil companys are beginning to see&feel the reprocussion of these price increases.It's true the commodities market has caused a lot of speculation increases,but i beleive the oil companies were also trying to see how much they could get away with in price increases before anyone said this is enough!A few days ago the president of Shell oil was interviewed.He was asked about the more than 29billion in profit and asked what could be done about oil use.One of his remarks was we should all drive slower,and not accelerate to fast from the start to conserve gas.He did say all of the profits are being reinvested.Im sure most of the ex of theis oil company's are not just making $200,000. a year.Y don't the oil company's give a little back by way of less gas prices.Maybe im wrong,Id like to make 29billion and then put it back into my own pocket.

Chip read my blog view my photos
Aug 25, 2008 | 12:17 PM

Ummm...you are factualy inaccurate. The price of petroleum products is nt driven by oil companies. It is driven by the commodities market. The folks who drill it out of the ground reap the rewards...mostly foriegn countries!!!

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RosieC

I was born in Hawaii.My father was a fire fighter for the military.We moved to las vegas when i was 15yrs old.I was a singel mom for a long time taking care of my son. I'M curently writing 2 books.The first being about Basketball and the 2nd is a childrens book for the love of animals.Check back for the titles and release dates.

Member Since: 6/23/2008