"Fly, my pretties, fly!"
Posted on 10/28/2007 12:18:34 AM PDT by freedom44
TEHRAN (PIN) – Vice chairman of the Energy Committee of Majlis (Iran’s parliament) predicted that oil price would rise to 120 dollars if tensions in the Middle East continued.
Nasser Sudani told PIN in case tensions between regional countries like Iraq and Turkey mounted and led to the outbreak of a war, oil price would reach 120 dollars.
He also blamed U.S. threats against Iran for the increase in oil price, warning that sanctions against Iran and military threats against Syria and Lebanon would cause a new crisis in the Middle East and consequently in the world.
The lawmaker referred to the unprecedented economic crisis in the United States and added the U.S. and some Western countries had attempted to stockpile oil in a bid to lift oil output, leading to an increase in demand for the commodity and in its price.
“In the meantime, oil price jumps as cold season approaches,” said the MP.
Sudani added the protest of workers in the oil sector of Nigeria, an oil exporting state, and hurricanes in the Gulf of Mexico were among other reasons behind the hike.
The benchmark crude oil futures price rose above $92 a barrel for the first time ever in New York early Friday morning as the Middle East situation was expected to deteriorate.
The December contract for West Texas Intermediate crude hit a new high of $92.22 a barrel during off-hours trading, after ending regular trading on the New York Mercantile Exchange at $90.46 Thursday, up $3.36 from the previous day.
At 9:20 a.m., the key contract gained $1.10 from the previous day to $91.56 a barrel.
Concern grew about a crude supply shortage after Washington’s announcement of new sanctions on Iran, which may heighten tension in the Middle East. Other factors behind the crude price hike include the U.S. Energy Department’s Wednesday announcement of a crude inventory decline before the oil demand season and speculation about the absence of additional oil production.
Liberate the Iranian oil fields.
All the while our Libs forbid us to drill for oil, and do anything that would free us from the grip of these economic terrorists.
Well Mr. President, Tehran continues to murder our troops in Iraq with IEDs and rockets, your SecState Maddy Albright (whoooooops! I mean Condi Rice, who plays piano instead of dancing the Midget Dance) is consulting with Bill Clinton and Jimmy Carter for advice, and now Iran is trying to talk up the price of oil to way BEYOND anything we saw during those 4 dismal years that the goober from Plains was disgracing the Oval Office.
When are you going to get off your ass and do something about it beyond impose ‘sanctions’ on a portion of the Iranian military? Did FDR impose ‘sanctions’ on the naval aviation wing of the Japanese military after Pearl Harbour?
A little less talk, and a LOT more action, ok?
Fuel up the damn B-1s and B-2s, Iran started this sh*t, it’s up to US (as in U.S.) to finish it!
I believe in free markets and I believe the private sector does most things at lower cost and higher quality.
Energy is a national security issue.
My vote goes to whomever will propose and implement an energy Marshall plan for the US.
It is time the federal government to start building on a massive scale nuclear power plants on Federal land all across the US. On Federal line to short cut all the regulatory BS that makes it take 20 years to build any power plant.
We have to get off oil. Our dollars are funding our enemies. Every day they grow stronger as we sell our security for oil.
With plentiful relatively cheap energy in the US it would revitalize our economy and give everyone here a higher standard of living while at the same time cutting off our enemies supply of money. It would greatly improve our balance of trade returning value to the dollar.
That sort of “isolationism” which is really self sufficiency is something I would go for whole heartedly and so would the public.
It is time for a change.
“Federal land” not “Federal line”...
Don’t ask me how that happened... I don’t know...
Oh (bleep), we’re screwed....
The hedge funds, the speculators, the Iranians, the Russians, and the other oil producers are all conspiring to game the oil futures market. The only way to stop it is to either increase supply or reduce demand. If either of those happen the oil price bubble will pop and the market will come crashing down.
“Energy is a national security issue.”
Absolutely correct. And the President could keep our economy from going into recession by declaring that beginning January 1, 2008, gasoline will be rationed in this country. It’s outrageous that we make our enemies richer every day during our war with them. No country and no president should be this stupid. If this is a real war, then we ought all have to sacrifice. It would be good for us.
These are non related topics, I hope you realize. Relatively little petroleum is used for electrical generation and some of it that is used is "waste" product from refineries like petroleum coke and residual oil that has little other use.
“Nice World Economy you got there. Wouldn’t want anything bad to happen to it.”
Oh yes it is related.
Lots of electricity is the key to production of any number of fuels for cars. Hydrogen etc. With plentiful electricity one can use it in electric cars or hydrogen based cars (there’s many more choices besides hydrogen that can be manufactured with electricity for a transportation fuel).
The key is plentiful electricity.
The same goes with heating. No more need for heating oil.
Produce low cost electricity, people will find ways to make our vehicles go with it.
Plentiful electricity also means one can produce pure water from sea water in places where pure water is running low.
I agree with you, Nukes until the cows come home.
I got a plan, 50 plants in 50 states in 5 years. the 1st GOP candidate that says that will catch a lot of ears.
WE need the NRC to cut the Bull$&!+ and utilize the shelved common plant design (yes it was being worked on by Combustion Engineering in the late 80's) and get-er-done.
Also get off the refinery bottleneck. If GM really wants a paradigm changer make the "Volt" run on CNG. There are systems that can be purchased and put in your home to fuel your car via your gasoline.
As far as our refinery capacity, I think the Military moves of getting our Jets certified to run on JP fuels from coal using the Fischer-Tropsch process will get the coal-to-oil industry going, and potentially weening us from the Middle East.
Also note, the military is requiring all engines run on JP type fuels by 2010, for logistical reasons. We are talking APU's, UAV's all small stuff.
What they are doing with Mil-Spec may be coming up with a "One-Fuel" standard that will do more than any "Manhattan Project" or any bill the House or Senate may come up with. Think of it for a moment, if we could get all cars as Hybrid-Gaseous and all large trucks still on Diesel or CNG, refineries could almost stop gasoline production and concentrate on one fuel.
It would take some leadership and cojones from the oval office to move us in this direction.
Yes, but think how the oil prices will drop once we get done stepping on Iran. As Dalton said in “Roadhouse”: “You know that things are going to get worse before they get better”.
"Fly, my pretties, fly!"
Dude, I just woke up...
That’s soooo wrong...
Why? We don't get any oil from Iran to begin with.
Scaring us early, eh? Halloween’s not till Wednesday.
And how is invading Iran going to accomplish either one?
The liberals/Democrats’ regulatory BS that makes it take 20 years to build any power plant is the problem. That’s why our energy and oil production is hampered.
You think the government can build power plants better than the private sector? It might take the government 30 years just to build one plant with government inefficiency and all their own regulatory bs that they impose on themselves that they also impose on the private sector. Plus it takes at least 5 years to build a power plant anyway.
There are 600 million vehicles that run on oil/gasoline. there is no government on earth not even the private sector that can replace all those vehicles with other kinds in the next few decades. peak oil is here. We won’t be free of dependence on oil in our lifetime. peak oil is here. save for the future.times will start getting worse soon. this is not chicken little stuff. oil is nearing $100 per barrel. 600 million oil vehicles will never be replaced in our lifetime.
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