6 Reasons Why Oil Is Ready to Drop

Energy source should be altered

Man can succeed in N numbers of invention and discoveries, If we can find traces of water in Mars, why can’t we find an energy that is domestic and ecological friendly. This is all a scam to keep helping the Oil rich countries to nurture more. Oil fanatic politicians can gain from it; they don’t even know how much it cost fill up these SUV/Luxury Cars, because we are paying for it. Rethinking the alternative source of energy is best way to resolve the problem --- it is time for a change. For that thinking has to change.

Sean of CA @ Jun 24, 2008 16:22:56 PM

Hooked on Phonics?

Please learn how to spell.

Spell Checker of DC @ Jun 13, 2008 14:21:32 PM

OIL

we are at war, as alwawys we don"t are making some ppeople very rich. IF WE DON'T FORCE OIL PRICES DOWN, WE CONTINUE TO FINN. TERRISUM IN A BIG WAY.

VIETNAM VETERAN of NJ @ Jun 02, 2008 06:33:40 AM

There is still time

And when we suck all the oil out of the earth, then what? We just seem to never learn.... We need to develope our energy infrastructure avoiding going down the same old road, geez we need to be oil independent. With billions of profits the oil companies are making why don't they start converting their gas stations to hydrogen stations and the car companies follow along with multifuel cars that are just now hitting the market. The window of opportunity is closing.

jonny blue of FL @ May 31, 2008 18:50:10 PM

sustainability

Think about the basics. The world is growing at a faster rate than excavation of crude oil and with this rapid growth comes consumption. The reason these barrels are on the rise? because 700,000,000 barrels will only last 56 days. think about sustaing life in population expansion and you will find an answer!

info from the bell curve and al bartlet

Cire of CO @ May 30, 2008 13:27:17 PM

rethink energy

If our government utilized the funds received from oil companies for new offshore leases to develop & encourage development of a strategic shift from reliance on hydrocarbon based fuel....it would be a start. we can't be slaves to the energy source suppliers; eventually it will choke us economically and physcially into extinction. think about it.

cal of TX @ May 29, 2008 13:56:10 PM

We're having a short-term correction in Oil -- Then it's off to the races again.

No asset goes straight up forever, even during a secular bull market, so the current consolidation in oil prices is to be expected. But don't kid yourself that the secular bull market trend in oil is over. The supply and demand pictures suggest otherwise.

The EIA predicts that global oil demand will grow by 1.2 million barrels by the end of this year (even after taking into account a reduction in American demand). They predict global supply will only increase by 600,000 barrels per day.

The problem with points 1-3 above are that, even in the best case scenario, these moves won't increase supply for 5-10 years, since this is how long it often takes to extract significant flows of oil from new fields. The problem with point 4 is that concerns about political stability in the third world usually trump economic concerns. Maintaining subsidies is expensive, but so are riots and bloodshed.

Dave of NJ @ May 29, 2008 13:24:12 PM

We have untapped oil in U.S.

85% of our shores are off limits to drilling. There is oil in Alaska that is waiting to be used. I feel that if the U.S. simply approved the drilling of these areas, the speculation on il prices would drop. There is also coal to oil and oil shale which the U.S. has huge amounts of.

Jose of CA @ May 29, 2008 11:27:35 AM