$9 Gallon Gasoline Will Crash World Economies If WW3 Starts: Greg Hunter

[peejman]

Our dependence on foreign oil will end when they run out of oil. Would you rather use up our own reserves before, or after that happens?

[kieefer]

It's there for the taking, if we don't someone else will.

Norway’s Statoil said Monday it has discovered a large oil reserve in the Barents Sea, its second major oil find in the Arctic region in less than a year.The state-controlled oil company said a well drilled in the Havis prospect in the Barents Sea proved both oil and gas at an estimated volume of between 200 million and 300 million barrels of recoverable oil equivalents.

Last April, Statoil said it had discovered between 150 million-250 million recoverable barrels of oil equivalents in the nearby Skrugard prospect.

Statoil Oil Field Is ‘Twin’ of Barents Sea’s Biggest Find - Businessweek

[Guest HvyMtl]

Ok, a few things: Speculators and commodity purchasers have much more power to set prices than the government does. The U.S. is presently EXPORTING Gasoline for the first time in decades. (Shows the prices might be artificially high, as there is a surplus, or is it that "global economy" certain groups championed for a few decades, working?

[Guest WyattEarp]

If ww3 starts, theres not going to be any economy left to worry about because everything will be glowing in the dark for the next 250 years.

Albert einstein once said that ww4 will be fought with sticks and stones.

So im pretty sure gas prices would be the least of anyones concerns, let alone the economy.

[mcurrier]

That's a national average. I certainly don't remember seeing it under $2 since I left South Carolina about summer of '05.

o...k...

Your geo-tag says Oak Ridge, but I guess you're really in Kalifornia. Not sure what the dynamics of pricing for Oak Ridge are, but...

Gas was $1.47 in Nashville, Tennessee on January 1, 2009. Didn't break $2.00 here until mid-May 2009. Was under $2.00 for about 6.5 - 7 months.

Not arguin' with ya, just sayin'...

And I remember it like it was yesterday.

Historical Price Charts - Nashville Gas Prices

[kieefer]

...or at least we did pre-Obama...what was it ? $1.79 a gallon then? And now well over $3.00 a gallon? How's that hope and change working out for ya?

Now imagine what the media would be saying if GW was in office.

[mcurrier]

Speculators and commodity purchasers have much more power to set prices than the government does.

No one said that govt. had any involvement in setting prices, but what govt. does in the way of restrictions on oil exploration, drilling and refining (as well as other energy sources - coal, natural gas, hydro-electric, nuclear) all factors in to the decisions that speculators and commodity purchasers make, thus directly and indirectly affecting the cost of oil/gasoline.

As a side note (just in general, not to you HvyMtl):

Interestingly, those tree-huggers who drive Prius and other electric cars feel all warm and fuzzy about themselves, only because they are too ignorant to understand where the electricity that runs their cars comes from (mostly coal and oil, some nuclear). They also don't take into consideration the toxic chemicals that are in the batteries of those cars that will eventually need to be disposed of. Way more environment damaging in the long run than the typical gasoline powered combustion engine car. Point being - things aren't always as plain and simple as the tree-huggers would have you believe they are. Electric cars still depend on coal/oil, etc. Subsidies artificially prop up technology that is, to use a word liberals love to use a lot, UNSUSTAINABLE on its own. That just increases prices for everyone all around the board and doesn't really help anything. Subsidies = fake/false/failure. Our world currently is geared for oil/petroleum energy. Technology to replace that will come very gradually, not as fast as the tree-huggers would like, but to artificially try and speed it up will do more damage than good.

[Guest mustangdave]

I can't even come up with a comment...crap like this just jacks up my blood pressure...grrrrrrrr

[Guest bkelm18]

o...k...

Your geo-tag says Oak Ridge, but I guess you're really in Kalifornia. Not sure what the dynamics of pricing for Oak Ridge are, but...

Gas was $1.47 in Nashville, Tennessee on January 1, 2009. Didn't break $2.00 here until mid-May 2009. Was under $2.00 for about 6.5 - 7 months.

Not arguin' with ya, just sayin'...

And I remember it like it was yesterday.

Historical Price Charts - Nashville Gas Prices

Give it a rest, dude. I've seen your charts. I still standby my statements.

Edited January 10, 2012 by bkelm18

[hipower]

I can remember .19 gal. when Blount county had "gas wars" cigerettes were about the same price. This was in the '60's . I can easily remember reg and diesel being .99 in the '90's.

And we were getting just as disturbed then. Thinking the End of the World As we Knew It. Well, It's back for a return engagement.

[Defender]

Now imagine what the media would be saying if GW was in office.

They would be calling for impeachment!

[mcurrier]

Give it a rest, dude. I've seen your charts. I still standby my statements.

No problem. I guess you proved me wrong. Nice having a discussion with you.

[Guest FroggyOne2]

If we had a administration that said "drill baby drill", if we had companies that actually cared for the welfare of the country and stop selling domestic oil to Asian countries and our dependance on overseas supply would seriously decrease and world drum prices would drop dramaticly. Hence the price would go down.. but the first step is to say that we would open up to our resources and you would see a immidate change in what the speculators at Wall St. would do.. the price per barrel would drop.

[kieefer]

If we had a administration that said "drill baby drill", if we had companies that actually cared for the welfare of the country and stop selling domestic oil to Asian countries and our dependance on overseas supply would seriously decrease and world drum prices would drop dramaticly. Hence the price would go down.. but the first step is to say that we would open up to our resources and you would see a immidate change in what the speculators at Wall St. would do.. the price per barrel would drop.

+1

Absolutely would drop and the economy would surge as well. No-brainer except for the dirt people.

[Guest 6.8 AR]

Speculators and commodity purchasers and sellers respond to market fluctuations

and regulations, Hvymtl. Are you saying they are the evil ones? I doubt that glass

can hold water. That's tripe from the media.

Occasional criminal activity can be found by those sources, but overall the market

works.

Companies by into that marketplace to stabilize their costs. My company I'm

sure does it because of the nature of the beast. We use diesel fuel to run our fleet

of locomotives and it isn't bought on the spot price. I imagine the fluctuation in price

would drive most large businesses out of business if they did.

[JPR1959]

My first job in 1981 was working on computers used in oil exploration. There were over 770 crews working in the US both offshore and on. When I was laid off in 1985 there was less than 20. The government decided to import oil rather than drill. There's also a theory in cyberspace in order to get OPEC back to the bargaining table in the 70s, they were told buy our debt and we'll buy your oil. Makes sense now.

[TNMP40]

Yes it sure would. Most people do not recall but the housing crash occurred after the high $5 gas prices!

[bajabuc]

This might be the correct place for this but maybe not. This could be a help with the gas problem. The Gengas Page This booklet is from Oak Ridge National Labs. Cars, tractors, trucks running on wood. Germany did it during WW2

[JPR1959]

The environmentalist would have to agree to have companies actually cut down trees for this theory to work. Most logging has been shut down.

[bajabuc]

The environmentalist would have to agree to have companies actually cut down trees for this theory to work. Most logging has been shut down.

They used scrap from wood shops

[Guest FroggyOne2]

Speculators and commodity purchasers and sellers respond to market fluctuations

and regulations, Hvymtl. Are you saying they are the evil ones? I doubt that glass

can hold water. That's tripe from the media.

Occasional criminal activity can be found by those sources, but overall the market

works.

Companies by into that marketplace to stabilize their costs. My company I'm

sure does it because of the nature of the beast. We use diesel fuel to run our fleet

of locomotives and it isn't bought on the spot price. I imagine the fluctuation in price

would drive most large businesses out of business if they did.

Nope, I am not saying that they are the evil ones, but they are the ones that take the world stage and speculate the price per barrel based upon current world activities, be it human or mother nature.

[mcurrier]

Well...Obammy just made ANOTHER move to push us towards that $9/gallon gas.

Obama Administration Rejects Keystone Pipeline Permit | Fox News

AND...against the recommendation of HIS OWN Jobs Council -

Obama's jobs council report says 'drill' - The Hill's E2-Wire

More jobs down the toilet, higher energy prices ahead. This was a truly 'shovel ready' project, but our dear leader just buried it.

[Guest FroggyOne2]

I heard this morning on the news that they are already saying that gas prices by Memorial Day will be in the 4.85 per gallon range.. when they do this, to me, means that they already know that this is going to be speculated price per gallon.

[kieefer]

I heard this morning on the news that they are already saying that gas prices by Memorial Day will be in the 4.85 per gallon range.. when they do this, to me, means that they already know that this is going to be speculated price per gallon.

And let the libs tell me Hugo Hussein is going sweep the election when we have fuel prices in this range, unemployment over 9% in real numbers and his class warfare propaganda

Anybody but Hugo is going to win, even RonPaul.