Thread: Ot: Gas Prices
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JRMSR JRMSR is offline
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Join Date: May 2007
Posts: 342
Quote:
Originally posted by pmc847
Jeff,

Where do you come up with this stuff <;~). As I said, there are 3 sides to every story. That means that my side is biased to my way of thinking and your is to your way of thinking and then there is the truth. I would be willing to bet that the truth is somewhere between our beliefs. Nobody knows how much oil is in the ground. The 4.5 trillion potentially barrels is just as good a guess as the guess you might back. Nobody really knows.

As for reading it on the Internet, would it have been better to have gone to the library and read the same research? The numbers didn't come from a blog or from someone who is an electrical engineer, the numbers came from a so called expert. Dr. Colin Campbell makes a similar analogy as Mr. Abdallah S. Jum'ah, that doesn't make them right nor did I say they are right. What I put forth here is just another side, which I tend to subscribe to with my limited knowledge.

So, to your way of thinking, anyone that worked for the oil companies must be wrong. To me if the oil companies wanted to scare us, and keep the prices up, they would be saying we are at the peak of production and there is not 4.5 trillion potentially barrels still in the ground. Then again they might say 4.5 trillion so that research on alternate energy will be delayed. Which is it? I don't know. I have my thoughts about it and so do you. Who's right. Time will tell. With your vast knowledge (50 odd years of watching the oil companies operate) who sets the price of oil? Is it OPEC, the futures and commodity market or is it the oil companies? I don't think it's the oil companies alone, they don't own that much of the so called unknown reserves.

Now, what are your thoughts on global warming and CO2? Which scientists are right and who is wrong. Could it be that those that say it's man made and CO2 is the cause are in the pockets of a few who reap the profits from government grants? Are doctors selling us a bill of goods to make money? Is Microsoft and all the IT experts so they can reap 33% profits? How about the financial experts and banks? I guess we can't trust anyone.

Where abouts in Tx do you live? I lived there for almost 20 years, mostly in Ft Worth. I miss that part of the country.

Long live capitalism.

Philip
"It's a great bike but I can make it better".

Phillip,

I currently live in Del Rio, but hopefully not for long. I've had the privilage of living all over the world. We can go over and over this with fact after fact but it comes down to one thing. The only people who are really in control of this situation are those who control the oil. Has it been driven by profits? Yes, throughout the past three decades. Will it get better, not likely for the long term. We just can't afford to be nieve! Is it controlled by the Arabs, you'd better believe it. Out of eleven OPEC members five counties are in control of 2/3's of all the oil produced in the world today. Nine are Muslim/Arabic based countries. Will they use it to manipulate and influence politics in other countries? Yes, they done it before, it's history. But you know this as well as I.

Out of the nine Arab countries, Saudi Aramco Holdings and ownership of American Companies like Texaco, Exxon, Mobile, Shell and others are well known. Founding members of OPEC ownership and holding are massive. I don't have enough room to put all the information here. Just do the research, it's all available to the public. Their profit is not equal to their investment. Profit again is the driving force in any business. Do some research in each OPEC controlling members personal assets and you'll understand what I'm saying, it's a long interesting puzzle. Again this is public information. So, I choose not to subscribe to your line of thinking. Your being a little too nieve to believe that their personal profits don't far outweigh their investments. You've already stated, that you have personal investments in oil related stock, so I believe your thinking is a little bias and wishful. No offense!

I don't want to get OT here with other discussions. Personally I'm generally a middle of the road thinker and not a doomsayer. I look at all the facts and try to come up with a good sold synopsis. In this case, the facts are pretty plain to see. We can go on and on but it's not going to solve anything. The only thing is that is for certain is, gas prices are up and not on their own accord. I still believe that we are being gouged as well as the rest of the utilizing world and that's not going to change. Personal wealth for a rich man is his only love. To increase it is his only goal. With wealth comes power and with power comes control over others and this has been the theme since the beginning of time, especially in the Arab world!!

Cheers

Jeff

Last edited by JRMSR; 05-29-2007 at 11:30 AM..
Old 05-28-2007, 08:46 AM
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