Post by Cactus Jack on Dec 24, 2009 15:07:55 GMT -6
It's no stretch to say the Obama administration and Democrat Greenies in Congress loath Big Oil, refineries, and any other carbon based resource. With the unfriendly atmosphere radiating from 1600 Pennsylvania Ave to Capital Hill, piled on top of 2008 election promises to kill coal and oil industries, the energy rich southern states of Texas, Louisianna, and Oklahoma have been radically reducing stockpiles of petroleum for use as both motor fuels and petrochemical feedstocks to surpress the perceived attack by the Dem-Fed with increased taxes for storing oil, elimination of tax credits to big oil exploratory and recovery industry, increased depletion taxes, higher income tax related legislation, and wishful cap-n-trade carbon tax plans.
In a recent flyover of some of the major onshore petroleum vessels (massive tanks used to store petroleum) having floating caps atop the steel structures, most are sitting empty or in near draw down levels. Big Oil is buying less oil from overseas even though the price for such resources is still relatively cheap. What is being bought is being stored offshore in tankers parked outside U.S. waters or is being stockpiled in vessels elsewhere. All of which is taking a toll on oil industry workforce, that has been relatively stagnant since mid-March.
Now, with OPEC tightening the screws further, speculators seeing some movement in the American economy with demand for products, much of which is petroleum-based (plastics, synthetics, resins, and other feedstocks), along with reduced inventory of petroleum onshore, prices for oil after the turn of the new year (2010) will drive up the bbl prices to $100 by/before Summer.
What does that mean to American consumers? Well, gasoline prices will increase to $3 or more per gallon (currently unleaded in Texas where I live is $2.35/gal). Using fuel prices here as a base, geometrically you can figure what it will cost where you live.
Beyond fuel costs, the costs for most durable goods including the cost to fabricate lightweight components necessary to establish alternative green transportation (namely plastics plus synthetics, made from petroleum feedstock) will rise astronomically.
Then once the nation comes out of this recession and begins to grow, $200 oil will not be out of the realm of possiblity.
If Obama and Dem-Greenies manage to destroy the petroleum industry with taxation and carbon tax policies, the industrial revolution as we know it will cease to exist. The plastics, synthetics, fertilizers, fuels, paints, lubricants, resins, and practically every other product we use in our daily lives will be no more. All of which brings Americans to realize a "change" the annoited one never envisioned ------- return to horsepower via the horse!
In a recent flyover of some of the major onshore petroleum vessels (massive tanks used to store petroleum) having floating caps atop the steel structures, most are sitting empty or in near draw down levels. Big Oil is buying less oil from overseas even though the price for such resources is still relatively cheap. What is being bought is being stored offshore in tankers parked outside U.S. waters or is being stockpiled in vessels elsewhere. All of which is taking a toll on oil industry workforce, that has been relatively stagnant since mid-March.
Now, with OPEC tightening the screws further, speculators seeing some movement in the American economy with demand for products, much of which is petroleum-based (plastics, synthetics, resins, and other feedstocks), along with reduced inventory of petroleum onshore, prices for oil after the turn of the new year (2010) will drive up the bbl prices to $100 by/before Summer.
What does that mean to American consumers? Well, gasoline prices will increase to $3 or more per gallon (currently unleaded in Texas where I live is $2.35/gal). Using fuel prices here as a base, geometrically you can figure what it will cost where you live.
Beyond fuel costs, the costs for most durable goods including the cost to fabricate lightweight components necessary to establish alternative green transportation (namely plastics plus synthetics, made from petroleum feedstock) will rise astronomically.
Then once the nation comes out of this recession and begins to grow, $200 oil will not be out of the realm of possiblity.
If Obama and Dem-Greenies manage to destroy the petroleum industry with taxation and carbon tax policies, the industrial revolution as we know it will cease to exist. The plastics, synthetics, fertilizers, fuels, paints, lubricants, resins, and practically every other product we use in our daily lives will be no more. All of which brings Americans to realize a "change" the annoited one never envisioned ------- return to horsepower via the horse!