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Iran clash likely to push up crude price »

Posted by: Aidenag 1 year, 5 months ago

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The escalating clash with Iran is likely to cause further shocks in the oil market, coming as US oil inventories reach the lowest level this year and demand surges in China. The Pentagon has warned that prices could reach $150 a barrel in a "worst case" scenario.

Read Full Story at telegraph.co.uk

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    Xaos1 year, 5 months ago

    Have you noticed that is always the way it seems to work, the inventory is low, Iran is being a pain the Chinese are using too much. A few weeks ago they were saying that the Chinese oil consumption was going to drop after the fall in the stock market. Now they are using too much again? I just wish they would make up their minds and get their stories straight. This has been following the same pattern for at least a year. They would start a run up in the futures market about 2 weeks in advance of a major US holiday, after the holiday passed the price would level or even drop a little. If anyone doubts this, just look at the charts for the Futures Market over the past year. See the truth, market manipulation at work. And the Commodity Futures Trading Commission hasn't noticed this. Hmmmm.

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      mesodude1 year, 5 months ago

      You forgot to add: We'll attack Iran and the neoclowns will swoon over their manly cowboy in the White House again (while Big Oil hoses us at the gas pumps again).

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      amerettoice1 year, 5 months ago

      and the profit margins will soar once again... How long are we ALL going to put up with this.... if Iraq or iran farts the oil prices go up, if china belches whooow watch out. if the US shuts down the pipeline for a day chicken little will get his wish.... When are we goina quit this oil dependancy and harness the sun, its free, plentifull and non taxible...ah... wait a minute, that is it... no profit from the sun... the oil Barons ie. "families" will become broke, the one world power idea will fizzel out...the auto industry will have to change...as will all other oil dependant resources.... get the picture...?

      I say go solar and let the oil dinosaur die

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        jennygerms1 year, 5 months ago

        Yey! Im not a crazy conspiry theoroist. Other people see it too. The oil barons just want to make a profit, thats why prices go up. How else do you account for Exon's record braking profits lately? I don't see many other industries doing that well. I think you hit the nail on the head amerettoice. We need to harness more forms of alternative energy, like solar, wind, ect. The prices are probley soaring now because of spring breaks, Easter, summer around the corner, ect.

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        THOMNH621 year, 5 months ago

        the only thing pushing up the cost of oil is the fact that summer is around the corner.

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          hoppy1 year, 5 months ago

          Good Time to drop a "crude" bomb on them.

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            mybeNi1 year, 5 months ago

            Uhh :-(

            not nice!

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              aceofspades11 year, 5 months ago

              Oil is about $63 or $64 a barrel today & thats just the start of the price rise. Sure Iran has a big hand in the increase, but check this out-- Iran has no refining capabilities & imports 70% of its gasoline. All sounds like a great scenario for Mobile-Exxon et.al. oh yeah Bush & Cheney too. - Iran raises crude prices - refiners pay more - refiners in turn sell the finished product back to Iran at higher prices somewhere in between the American consumer gets mugged by the oil interests once again.

              I'm starting to feel like Oliver Twist " more porridge please sir" .

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                JustCallMeV1 year, 5 months ago

                Ace: I am with you on that one. All mis-information and distractions from the next stunt of the oil companies - and all the overhead gets pushed to the world consumers.

                I see another record breaking quarter in profits for the oil companies this year.

                -V-

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                SitNlook1 year, 5 months ago

                I dislike the way WE DEPEND on these countries to keep us going over here...we are like puppets on a wearing out string.

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                  UBCONFUSE1 year, 5 months ago

                  The problem with oil prices is that the market allows prices to be set by commodity traders and hedge funds who deal in what might be rather than what is.

                  If OPEC wants $150 oil, all they have to do is encourage Iran to cause problems and there is no problem like war to jack up prices.

                  Long term, high oil prices will encourage alternative fuels and crude prices will fall. Mean while we suffer.

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                    MilesAway1 year, 5 months ago

                    I do not drive car. I have couple of camels and they don't use to much water either. LOL.

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                      droid39131 year, 5 months ago

                      I am disappoint with the British Navy. For centries it had the most poweriful Navy in the world. Hell, they sunk the Bizmark. They need to sink every damn Iranian ship. Then if the sailors aren't let go. Start nuking thier cities. After that.... We will have all the oil we want. The dirty little man will be no more!

                      Sometimes you need to have war to have peace and freedom! (and lower gas prices! LOL)

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                        ybdogsct1 year, 5 months ago

                        I believe Iran has wrigged their oil fields to self-destruct in the case of an attack. Iran has already said that if it attacked, it has no qualms about using oil as a weapon.

                        So, no, I don't think attacking Iran will lower gas prices. In fact, an attack will likely have the opposite effect.

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                        Candida1 year, 5 months ago

                        What has the USSR got to do with this? It doesn't even exist any more.

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                          xyptol1 year, 5 months ago

                          Attn: droid3913

                          The U.S. is loosing the War in Afghanistan, loosing the war in Iraq (and has been exposed as a paper tiger in the bargain), and lost the proxy war between Israel and Hezbollah. Now you want to open up a new front and use nuclear weapons. This is insanity. Your Empire is declining but the policies you advocate will excellerate that decline and have the possibility of ending civilization. Any attack on Iran also risks economic instability. You shall have neither peace nor freedom.

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                            denjengle1 year, 5 months ago

                            Short term loss for a long term gain. In the end, the less oil we can gain access to is better. Oil has been our crutch and because we have a great economy we have been focusing on constantly replacing the crutch and not learning to walk again. The quicker we take away the crutch, the quicker we come up with an alternative energy source that will eliminate our need to even worry about repurcussions with countries and their backward leaders.

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                              SitNlook1 year, 5 months ago

                              No need to worry we have Canada and I think some Dutch countries playing dice on the ice in Antarticica and the Artic over who that real estate belongs to already, I read they have warships up there and they planted their flags so they let everyone know they mean business. And of course the USs snooze is already stuck in the ice to up there...just waiting for the ice to melt, I hope an alien ship is under it just waiting for the last poke of the icepick instead of a gush of oil.

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                              saneman1 year, 5 months ago

                              I am going to inquire about buying a Laremo. I am afraid the government will try to prevent me from bringing it into the U.S. Either that, I am buying a vehicle which uses Ethanol. Ethanol will probably end up being over $1.00 less per gallon than gasoline.

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                                choppywatters1 year, 5 months ago

                                As long as there are big oil families (like the Bush's and the Cheney's) making all of the important decisions, there will ALWAYS be a need for oil. Every month there's another reason for the price increases... and yet Exxon-Mobil rakes in a $10 billion profit every quarter... does anyone else smell something putrid here. But the giant oil companies have given us their word... most of that profit is going into research so that we wont be dependant on the product that they live high on the hog off from... I find it hard to believe that we're blaming everone but the folks making the most money from our misery... $4, $5, $6 a gallon... well OPEC says the price is going up.... and who are we to argue with OPEC... meanwhile the people in Iraq... that place where over 3,200 of our citizens have been slaughtered... the average price for gas is 11 cents a gallon... maybe it's time we "borrowed" a little of that Iraqi oil... I think we've earned it!

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                                  SitNlook1 year, 5 months ago

                                  We'll be a 4th World country.

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                                    choppywatters1 year, 5 months ago

                                    OK... I've scheduled a meeting with the USSR... but for some reason when I told them your plan, they thought I was nuts... nonetheless, the meeting is next Tuesday at noon... hope you can make it. And while I was at it I called Bush... who is really taking care of his people (though 68 percent of his people will disagree with you) and told him that we all need to go to college and make equal pay... I mentioned I would expect to soon receive a check smack dab between the poverty level and Alex Rodriguez... I figure about $12.5 million... He too told me I was nuts... all I was really looking for was a check from Exxon-Mobil... I wonder if I have their number!

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                                      ABANOCLA1 year, 5 months ago

                                      THE DOPER THREAD CAME HERE COZ

                                      THE POLICE SHOWED UP AT THEIR THREAD

                                      Reply
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                                      Aidenag

                                      Photographer by day, news junkie by night. My main areas of interest are politics and the environment. If you have any questions, problems, or suggestions ...

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