Jun 27, 2008 10:45PM GMT
Question
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Money - Investments
Are you willing to pay $12.00 a gallon for gas?
OPEC president predicts oil price at level of $400 per barrelBaku, Fineko/abc.az. Yesterday the price of oil per barrel at the New York Mercantile Exchange exceeded $140 and reached $140.39 per barrel at the moment of closing of bids.
Khabib Khalil, the president of Organization of Petroleum Exporting Countries, stated in this connection that before the end of the summer the oil price can grow up to $170 per barrel in case the European Central Bank increases the rate.
“Price of oil, gold and other primary goods rose after American Federal Reserve System stopped increasing its rate. Dollar fall under such conditions leads to rise in prices for raw materials at the market. Moreover, in the future oil price can jump up to $200 and even up to $400 per barrel if political crisis with Iran leads to stoppage of oil production in this country,” Khalil said.
Recently the European Union has toughened sanctions against Iran because of suspicion of military purposefulness of its nuclear program.
Against the background of the latest events US Congress’s attempts to investigate wildcatters’ intrigues in growth of oil prices are going to become inefficient as well as Saudi Arabia’s investments ($1 bn) in the fund of oil price growth compensation.
27.06.2008 17:54
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Answered No! We need to engage Iran in diplomatic talks.
We need to buy some time to get away from having to buy foreign oil, and become energy dependent using every means possible, esp. green energy. If gas prices go sky high, I won't mind as long as my car gets a ton of mileage out of each gallon. -
...and produce many more in the process. The need for an alternative fuel will be driven by the market's need for inexpensive energy alternatives. This new drive will result in new companies, new technologies and new industries, which ultimately will result in new jobs.
European countries along with many other nations pay at least $9-$10 per gallon currently and have been doing so for many many years. The increase in gas prices does not immediately impact jobs so much as it impacts the price of goods, which in turn hits consumers pocket books.
Most importantly, my comment was more geared towards lite banter and pointing out silly pros of $12/gallon gas.... =) -
Answered None of the above
Obama might be saying he does not want to go to war with Iran...
His partner in crime, Hilldog, begs to differ, as well as what he told IAPAC....
No I do not want to pay $12 a gallon, but let's face facts, Obama is not going to fix it... -
Hillary is a partner out of necessity, not choice...she is a war monger, that among other reasons is why she lost her bid for the candidacy....Barack Obama has said he would engage in "tough diplomacy"....a far cry from the drum beat coming from the current White House and Israel! As for saying Obama will not fix gas prices you need to read his energy policy...a Manhattan or Apollo type program...it won't happen over night but he can avoid a war with Iran...smooth over the damaged relationships created by Bush and set us on the road to energy independence!
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You know what would smooth over relations....
Not having an occupying force in Iraq, but Obama voted for that....
As for "diplomacy" you should listen to his IAPAC speech...
As for his energy policy, I am not a fan....
I think government should stay out of the market, and not punish people that come up with ideas... Obama's further socialisation of our economy will only serve to punish the small inventors...
Again this is only my opinion based on Obama's voting record...
Answered None of the above
Rising gas prices are a direct reflection of the declining value of the American dollar, thank the FED, if our money was backed by gold and silver we would not be in this situation. Thank you, have a nice day.