Posted by Jack on April 6, 2007, 2:58 am
>>
>>>I believe that they have omitted the most important fact.
>>> If US oil consumption were reduced by that amount, the price of oil
>>> would drop back to $0 a barrel and even the Hummer drivers would be
>>> happy.
>>>
>>>
>> That's not fact. That's fiction.
>>
>>
> I agree with you, Mark, but that is another topic that is likely to spawn
> an endless thread. I went through this same thing off-list a couple weeks
> back.
> Mike (smiling and nodding)
You only have to look back to 1978 to see the oil prices going from $0 down
to $2 due to a drop in demand.
Posted by Jack on April 6, 2007, 3:04 am
>>>
>>>>I believe that they have omitted the most important fact.
>>>> If US oil consumption were reduced by that amount, the price of oil
>>>> would drop back to $0 a barrel and even the Hummer drivers would be
>>>> happy.
>>>>
>>>>
>>> That's not fact. That's fiction.
>>>
>>>
>> I agree with you, Mark, but that is another topic that is likely to spawn
>> an endless thread. I went through this same thing off-list a couple weeks
>> back.
>>
>> Mike (smiling and nodding)
>>
> You only have to look back to 1978 to see the oil prices going from $0
> down to $2 due to a drop in demand.
Pardon my error. The crude oil price drop I was remembering occurred from
$4 a barrel in '82 to $2 a barrel in '86. Amazing what a little
conservation can do.
Posted by Michael Pardee on April 7, 2007, 3:47 am
>>
>> You only have to look back to 1978 to see the oil prices going from $0
>> down to $2 due to a drop in demand.
>>
>>
> Pardon my error. The crude oil price drop I was remembering occurred from
> $4 a barrel in '82 to $2 a barrel in '86. Amazing what a little
> conservation can do.
That was the recovery from a double price spike: the Arab oil embargo and
middle east wars. The graph on http://www.wtrg.com/prices.htm shows it
pretty well. Looking at the graph on
http://www.eia.doe.gov/emeu/international/contents.html we see petroleum
production use was up slightly in that period. Petroleum use dropped in the
early '80s, when prices were highest. Makes sense that way.
Petroleum hasn't been free market since the foundation of OPEC.
Mike (forgot to smile and nod)
Posted by geneccc@gmail.com on April 7, 2007, 5:42 pm
wrote:
> >> You only have to look back to 1978 to see the oil prices going from $0
> >> down to $2 due to a drop in demand.
> > Pardon my error. The crude oil price drop I was remembering occurred from
> > $4 a barrel in '82 to $2 a barrel in '86. Amazing what a little
> > conservation can do.
> That was the recovery from a double price spike: the Arab oil embargo and
> middle east wars. The graph onhttp://www.wtrg.com/prices.htmshows it
> pretty well. Looking at the graph
onhttp://www.eia.doe.gov/emeu/international/contents.htmlwe see petroleum
> production use was up slightly in that period. Petroleum use dropped in the
> early '80s, when prices were highest. Makes sense that way.
> Petroleum hasn't been free market since the foundation of OPEC.
> Mike (forgot to smile and nod)
If we all drove Prius's we wouldn't be crushed to death by SUV's...
http://news.yahoo.com/s/nm/20070405/film_nm/clark_dc_1
Posted by Michael Pardee on April 7, 2007, 9:29 pm
> wrote:
> If we all drove Prius's we wouldn't be crushed to death by SUV's...
> http://news.yahoo.com/s/nm/20070405/film_nm/clark_dc_1
If we all drove SUVs we wouldn't be crushed to death by Prius cars - that's
logic for you! ;-) All vehicles are dangerous if misdirected.
XML site map
>>>I believe that they have omitted the most important fact.
>>> If US oil consumption were reduced by that amount, the price of oil
>>> would drop back to $0 a barrel and even the Hummer drivers would be
>>> happy.
>>>
>>>
>> That's not fact. That's fiction.
>>
>>
> I agree with you, Mark, but that is another topic that is likely to spawn
> an endless thread. I went through this same thing off-list a couple weeks
> back.
> Mike (smiling and nodding)