More oil available than buyers to buy it?

Why is the President talking about things like ANWR (which he could have very well have done had there been serious interest in the previous 6 years) when there is more oil than buyers?More oil available than buyers to buy it?
The falling value of the US dollar on the world market is the biggest culprit at this point. Especially since oil is traded in dollars.





Every time the Fed cuts the interest rate and pumps more money into the economy, the price of oil increases.





The value of the US dollar is down 35% since 2002. If the dollar was worth the same now as 2002, the price of oil would be around $96 per barrel.





Refining capacity is the biggest non-starter of the issue, be careful listening to the chicken littles about refining capacity. If oil companies wanted more refineries (which would result in a glut of gasoline and diesel on the market and lower the price) they would build them, regardless of 'tree huggers' wishes.More oil available than buyers to buy it?
Speculation and terra...terra....terra.


I can recall during the Iranian oil embargo many years ago. There were lines of cars waiting to gas up, and there were oil tankers lined up off shore waiting to off load product just over the horizon. But then I am a little older than most here.
Global financial jihad. Someone is funding speculation to raise oil prices. The intent is pressure the current US government into easing actions against the Saudi government. And to influence the election in November. Only oil producers have enough cash to play this game.
If we get rid of the tree hugging liberals that are tying the hands of the President as well as the communistic democratic ruled Senate and Congress then we would not have the gas problem.
No refineries built in the US since 1976 is a major reason we have the prices we have today.
Careful friend, you are wandering very close to the truth here.
Right now the price of oil is not driven by demand for oil per se, but by speculators who are bidding up contracts to buy oil because they think the price will keep rising. In other words, the traders don't want the oil, but they expect to make money by re-selling those contracts when the price keeps going up. As soon as they run out of buyers, the bubble will burst, and the price will fall. The same thing happened in the stock market a few years back, the same thing happened in the housing market, and the commodities market is next.
I don't think it's because he wants to destroy the environment of a nature preserve for the sake of destroying it.





Any increase in supply is going to bring down prices - eventually. It's beginning to look like the speculation on oil may be crossing the line between a 'fear premium' and a commodity 'bubble.' If that happens, we can expect the price to crash at some point in the future.





If oil companies invest in developing new, expensive to opperate wells, then the price crashes, they'd lose bushels of money.
People don`t understand that corporations are not human and do not have feeling and their morals are to profit and shareholders. If we use less oil then profit is lost, so you have mad shareholders so you have to raise the price to make up for the profit loss. One one reason that I disagree with you is that we just might run out of usable oil because we have moved out jobs over seas and that makes those countries economy raise faster then they would have so the world demand rises faster then it would have so we pay more so all those savings in the stores because we found cheaper labor is put in the tank. I think that the people are so dependent on oil that we should make oil part of the commons and we will just pay the oil companies to get it out of the ground for us.
The Dems would not let Bush drill for oil in Alaska, so blame them. There is not a surplus of oil; that is ridiculous. The price of oil will remain over a $100/barrel unless a worldwide recession occurs. get used to paying over $3.00/gallon for gas. Demand for oil will continue to increase as world population is increasing and people in China and India are demanding more cars and appliances.





Yes, there is speculation in the oil market, but that will probably continue, and if it ends, the price of oil will still be over $100/barrel.
When the president speaks of ANWR he's blowing smoke resulting in the usual misdirection clowns and the uninformed want to hear and believe. Anything to worm out of actually paying down the deficit and increasing the value of the dollar.





Too bad all those Patriotic Americans that were hot for 2 wars and the associated toys are slow or downright reluctant to pay for them. Now we all suffer in the way of high cost for fuel, imported clothes, food and interest.





If you think about it that may as well be a tax but it's going to Exxon, Mobil and China instead of the IRS. Exxon's CEO did get a $30 million bonus. Now that's one helluva social program and it only benefited one guy.
because Big Oil realizes that their monopoly will soon be obsolete.


As soon as 2021 when the new genertaion of nuclear reactors are perfected, that produces electrical power and hydrogen fuel, at the same time, methanol will be no more.


So they have to drain every drop out of every place they can and make as much money as they can to monoplize the nuclear power industry or their power switches hands.


So what better way than make the people support your retaining control of their energy and fuel sources?


http://world-nuclear.org/info/inf41.html鈥?/a>





That is why the Rockefellars are also demanding Exxon to start working toward alternative fuels.
I will not say that we have an endless supply, But we have an adequate amount to last us for the rest of the time we have left on this earth.(no predictions only fact) The biggest problem we have with todays market price is that people refuse to cut back they continue to go like there is no tomorrow. They continue to pay what ever the price is and the oil producing nations see that regardless of price we refuse to cut back and will pay the price whatever it is. When we finally reach a point where the price is to steep to go on then and only then will prices level out. probably around 10.00 per gal. People will be homeless by the tens of thousands.Their credit cards maxed out. Their autos repossesed. Their ability to go to work ends.Crime will be out of sight. No one will be safe leaving their homes. The government will have to declare martial law. Many people will have already starved to death. SOUND ROUGH DON'T IT. This is a real possibility for our future. They don't have to destroy us they can sit back and let us destroy ourselves But we as Americans will fight it all the way to our graves. Think about it!
There has never been an oil shortage. The oil shortage is and has been manipulated from the get go. The bad guys who own big oil, I could easily name them their last names begin with ';R'; are behind the increase in oil prices just as they manipulated oil prices up in 1973 and 1978. It is the way they steal the world economy. The amout of oil they will sell on the commodity exchanges futures markets as the price goes up will boggly the mind. After manipulating oil prices up in 1973 and 1978 where did oil prices go when the oil spicket was turned back on, under $10 per barrel. Oil will go down again but not before massive damage is done to our pocket books before then. Dick Cheney chaired a Commission of Oil and basically priced fixed oil prices. There is no real competition in the oil business, ever wonder why gasoline prices are the same in Alabama as a turnpike in NJ, because the same guys own the oil. Note Saudi Arabia and Iran are being blamed for not increasing production. The same bad mouthing of Arabs and Persians as took place in 1973 and 1978 to justify bombing which will send oil to my target of $250 per barrel. We get the falling dollar argument for oil prices increasing which does not make sense because the oil was taken off the market and prices started rising before the dollar crashed. The bad guys had good luck stealing by manipulating inflation in the 1920s in Germany and it has been their favorite way to steal ever since. The other way to solve the economic turmoil is price deflation and that hurts the bad guys so don't count on it. Oil is just the start of the financial havoc. Thanks to Harry Reid and ethanol corn and grocery store prices are going through the roof. A Paul Volcker will come on the scene and interest rates will go through the roof. All this consolidates banking, mortages, and every other aspect of business and makes the bad guys sole owner of everything worth owning. These same bad guys own the media and are making Obama. Their script writers for the world will include Sunni al-Queda invading Iran and then Caspian Sea and on to Russia and martial law for the USA. Not fun. They always play one ethnic group against another. So we can expect Obama followers fighting others with Blackhawk and John Negroponte swat teams killing people on both sides to get the hate raging. The ethnic warfare going on in Iraq will go on in the states, as they make the USA a third world type communi$t police state.