May 9, 2008 11:46 AM
Just in time for the weekend: oil hits $126 a barrel

Are soaring gas prices changing your lifestyle?
Oil hit $126 a barrel on Friday, a rise of nearly $10 this week as investors questioned whether a possible confrontation between the U.S. and Venezuela could cut exports from the OPEC member. Gas prices, meanwhile, rose above an average $3.67 a gallon at the pump, following oil's recent path higher.
On Friday, The Wall Street Journal published a report that suggested closer ties between Venezuelan President Hugo Chavez and rebels attempting to overthrow Colombia's government. Chavez has been linked to Colombian rebels previously, but the paper reported it had reviewed computer files indicating concrete offers by Venezuela's leader to arm guerillas. That appears to heighten the chances that the U.S. could impose sanctions on one of its biggest oil suppliers.




May 9, 2008
12:09 PM
JMH writes:
Ya think?
I work over 3 hours a week just to fill up my truck!
Good thing all that cheap oil from Iraq will be pouring in soon... right?... right?... isn't that why we are there?... anyone?... (cricket, cricket)
May 9, 2008
12:26 PM
SASQUATCH writes:
Nope, not in the slightest and here is why:
http://bp1.blogger.com/_otfwl2zc6Qc/SCGbmKJGZII/AAAAAAAAEcs/c7TQaYG9JH4/s1600-h/gas.bmp
And when you factor in the improved mileage that my vehicles deliver versus 10 and 20 years ago, the "burden" per fill-up totally evaporates. But I still think we need to tap into ANWR, the outer continental shelf, nuclear, coal, NG etc. and quichly jetison those phony, "feel-good" windmills, sloar and biofuels (aka liquid food fight).
May 9, 2008
12:34 PM
SASQUATCH writes:
ECO-HYSTERICAL ENVIRO-PHOBES, STOP YOUR WHINNING AND MOANING:
http://bp2.blogger.com/_otfwl2zc6Qc/SCLlcKJGZNI/AAAAAAAAEdU/PsJauL8DgBU/s1600-h/gasprices.jpg
What if you lived there?
May 9, 2008
12:37 PM
JMH writes:
Sasquatch,
Wow! No wonder you are extinct or really just imaginary! haha...
Talk about being beyond reality.
Your answer to it all is - "more of the same" huh? Maybe you should change your name to "Dinosaur"!
May 9, 2008
12:52 PM
Chimpy McFlightsuit writes:
What if we was to go nuclar?
May 9, 2008
12:56 PM
SASQUATCH writes:
MILEGE PER VEHICLE HAS DOUBLED OVER THE PAST 30 YEARS:
http://bp0.blogger.com/_otfwl2zc6Qc/SCH7k6JGZJI/AAAAAAAAEc0/UObjZuFHSe4/s1600-h/gas.bmp
I DON'T LIKE PROSPECTS FOR $200 P/B, BUT THIS IS ONE GOOD REASON WHY ITS SURGING PRICE HASN'T YET DENTED ECONOMIC ACTIVITY.
Now excuse me, I have to run a few local errands and I left my Peterbilt running in my driveway. I'll be back!
May 9, 2008
2:26 PM
Joseph V. Seifert Jr writes:
Why does not the government force the states to allow drilling, CA, NC, FL, AK these eviro's have got us hanging were they want its time to nationalize our energy sources and use them, to hell with eviro's Put them in jail for treason. They will have to do something when people start rioting in the streets because they can not work because the can not buy gas. String up eviro's and pump the oil.
May 9, 2008
3:05 PM
just sayin' writes:
I think you could probably make a good buy on some used SUV's. Of course, you would have to pay the gas bills. Poor planning on the part of a lot of industries. We really should have started looking for alternative in the 70's. I live up on the north side and would love to have a light rail to take to work.
May 9, 2008
3:12 PM
gr8fuldude writes:
Just - If you're on the north end of town and commuting to downtown, try the RTD line either 120X or 122X, from Wagon Road (120th and I25) or Thornton Park and Ride. I've been doing this for twelve years now, and I not only get to laugh at those slobs stuck in traffic, but also at gas prices. As a bonus, I also get REAL cheap car insurance. What's not to love?
May 9, 2008
3:20 PM
just sayin' writes:
It takes me about 20 minutes to get downtown and it would take about 10-15 to get to a park'n'ride and then 30 minutes downtown. I used to take the bus and liked it when I lived SW part of town. I carpool so it is not a bad ride. Thanks for the info though. My next move will be a little more planned around commuting.
May 9, 2008
3:24 PM
jay writes:
did bigfoot just actually say that he/she believes that high fuel costs haven't impacted the health of the us economy??
hmmmm...that's some good willful ignorance
May 9, 2008
3:28 PM
Hatless in Denver writes:
What’s wrong with the higher price of gas? I hope it is the start of REALLY high prices.
Many idiots still don’t get the message. They idle for long periods, take unnecessary trips, buy SUVs, move to the suburbs, etc.
They are entitled to do all of those things. Now, though, they have to pay the price.
Eventually, when prices get high enough, the morons will cut back and we’ll have cleaner air.
May 9, 2008
4:04 PM
gr8fuldude writes:
Hatless - I have to agree, and we really have not seen ANYTHING yet. If OPEC really wanted to mess with us, they would close down the spigots, like they did in 1973, 1976 and 1979. Paying more for a gallon of unleaded than for a Starbucks will inconvenience most people, but unavailability at any price would truly cripple us. I am just amazed this scenario has not played out in the past seven years since numbnuts has been in the white house.
May 9, 2008
6:36 PM
SASQUATCH writes:
I'm sorry, I may have mislead. This only works if you are productive member of society enjoying the average healthy income growth curve:
http://bp1.blogger.com/_otfwl2zc6Qc/SCGbmKJGZII/AAAAAAAAEcs/c7TQaYG9JH4/s1600-h/gas.bmp
Some folks are on a below average 0% growth curve or 2% curve like most liberal slackers who are looking for a handout or welfare. Others are on a healthy 5% growth curve, some enjoy 10% growth and the exceptional ones--like me--have enjoyed a 20% income growth curve and are now early-retired.
The graph fits Joe 6-Pac, the average guy. And yes, I know that there are several posterrs here, like Jay, who are well below average growers--victims of society.
Put that bottle of Ripple down, roll your buttox out of that hammock...and get to work like Jose and Pedro who found good work on day #1. You too can enjoy success and the good life.
Fill 'er up!
May 9, 2008
9:52 PM
Anonymous writes:
Ok guys its time to think bio fuels
look at CA
http://www.wired.com/cars/energy/news/2003/09/60258
Gov. Schwazengger is driving a Hummer that burns cooking oil.Veggie oil is now in use and garages there are being overwhelmed with conversion to cooking oil. The exhaust smells like fries.
250,000 Americans are running their vehicles on cooking oil because it costs only one Dollar a gallon. Restaurants are complaining that there are raids on their grease traps.
mileage is better than gasolin and about the same as diesel. Cal is mad right now because these people are not paying any gas tax for roads. So far only 70 supplier licenses have been issued.
Illinois, No carlina, Tx, RI and Indiana have exempter drivers burning kitchen grease from paying tax yet.
Its happening. Biofuels is a great alternative.
Meanwhile the number 5 (as in 5.00 per gallon gas)is being ordered by stations.
Now is the time for biofuels
May 10, 2008
3:06 AM
james writes:
No. The price of gas at the pump does not directly affect me.
I live in Congress Park so I'm not dependent on a car just to leave the house to do simple errands and daily stuff. I chose to live in a neighborhood like this years ago before gas prices were high - only because we value the lifestyle of a walkable/older neighborhood rather than a sprawling home connected only by superarterials.
Our household has one car, and we have two city bikes equipped for storage and utility cycling. We can hit the malls, grocery stores, go downtown and see shows, meet friends at restaurants all by bike.
We're lucky to both work in southeast Denver with good bus/light rail access - so the only time we drive is on weekend road trips. Yeah it sucks when we go camping or skiing for the weekend - but thankfully we aren't burning gas every day having to fill up once a week.
james http://www.futuregringo.com
May 10, 2008
8:00 AM
SkiBum writes:
Yo! Sasquatch. You're totally missing the underlying point here of NOT drilling in ANWR and other places. Use the oil from the middle east until it is dry as a Death Valley bone, all the way up to $300 a barrel. When their oil is gone, so is their wealth, their world influence, and their ability to push their disturbing religion on those who do not want it. There's a war in Iraq, one in Afghanistan, and one in the rest of the ME region. Of the three, the last one is the most important to win, and it can be done without firing a shot or losing one precious life of our folks in the military.
And by the way, solar-recharged electric is the way to go. As soon as you tell me how you're going to dispose of the spent nuclear fuel rods and radioactive water, you can proceed with more nuclear. And NG and coal still add to the CO2 problem and create or add to other issues. Also, I find very disturbing your attitude that as long as you can afford to fill your vehicle, there is no problem. I thought only the ostrich buried its head in the sand. Pardon me, but I just have to ask, you and that opinion-slut King aren't one in the same are you? Just want to verify who to patently ignore.
May 10, 2008
8:26 AM
M. Nature writes:
Sasq-
You are what's wrong with America. Fat Pig and you think you have the system beat sitting on top of a pyramid or you're just a liar of ego. You can't buy health or reason.
May 10, 2008
8:56 AM
Anonymous writes:
Joe Jr., this is a place we like to call "America", and the Federal government doesn't have the right to "force" the states to do anything, at least not according to the Constitution ... in fact, the Feds are to be subjugated to the States in almost everything ... but sadly, over the years, the States have ceded power and the Feds have wrested others from the States .... but if you want a good system where the federal government is in charge, I hear China is looking for good folks ... check it out.
May 10, 2008
10:10 AM
Holier Than Thou writes:
Take comfort in the fall of an evil empire, even if it's your own.
A lot of you voted for Bush and you still don't realize that you're too poor to vote Republican. If you don't know that yet, enlightenment is waiting to empty your bank account at the gas station.
The folks who put Bush in the White House are dancing and holding a wedding feast in honor of your financial ruin. Oil companies are making record profits so here's my proposal to balance the federal budget: TAX THE OIL COMPANIES.
Got that?
Taxing people who have no money doesn't work. It's always been a problem when we do that because then we need some convoluted program to feed and clothe their kids while their parents watch and starve. If you want money then you need to go where the money is. Do you know who has all the money? If it's you who has all the money then you're our man! If not then join the club.
One of the best things about democracy is that people don't have to put up with crap from the higher ups. We can start by voting their lackeys out of public office. Then we can pass laws that go after their excesses.
Do you know why you're poor or getting poorer? It isn't because you don't work hard enough, my friend. It's because you tolerate being robbed of your earnings. You tolerate having your job and your customers' jobs off shored to China and India so that some arrogant boss can pocket millions of dollars and continuously one-up the other wealthy scions.
Such people exist. They are the cause of the problem. We can number them, name them, and go after them for what they are doing to our country. If you are not willing to accept that then accept poverty for you and your children.
May 10, 2008
10:53 AM
M. Nature writes:
Great post Holier.
And that's why Hillary is losing the vote, she's part of $100m club and has no plans of changing the elite status club. She just comes across with false pretenses and will say anything and do anything to improve her cause. And it's her cause only. Just like voting for the war, she thought that was the right answer to her political career, act tough, the presidency is riding on it.
Now she's thinking of the next race injected slam to dig BO's campaign a bigger hole. Race is the only card she has left and she proved it with around the clock news attention to Rev. Wright.
May 10, 2008
12:55 PM
Adjunct Skeptic writes:
Holier, I'm pretty sure that was the most convoluted and contradictory discussion on the current state of the states I've ever heard. Keep in mind that I don't necessarily disagree with the premise you attempt to support, but your logic in supporting it leaves much to be further explained or corrected.
First, an "evil empire"??? Goodness. Instead of addressing the fact that we have some terrible representatives in government right now, and concentrating on getting them out and hopefully replacing them with honest and honorable folks, let's just give up, call the whole thing evil, and wait for the shit to hit the fan. Not my MO there buddy, but I won't try to tell you and others how to react.
Second, there are plenty of poor, and relatively poor from all parties, and no party. And I know a number of average, every day, normal, registered Democrats who are receiving very nice dividends on their holdings of Amoco, Phillips, and other oil companies. So I think that we can see, once again, that conducting stereotypical referencing doesn't really hold water.
Third, oil companies ARE making record profits, and that is exactly what you would expect given the numbers, such as price-per-barrel. Their profit margins are still in the 7 to 10% range which is about where it's historically been for many years, except during the times 5 to 9 years ago when it was below $20 a barrel, and their profits were near zero and they paid no dividends to anyone. There are a number of companies out there, not in the petroleum business, who fair far better than so why don't you rail against those evil bastards?
Fourth, taxing people who "have no money" not only "won't work", it's impossible. Taxing people who have "some" money works as long as the taxing authority doesn't kill the people in the process. Taxing people who have "lots" of money works great and those with incomes over $150k are paying substantial percentages already, but the problem with leaning too heavily on them is that there are far, far fewer of them to take money from. And if the taxes on them are too high, they simply move elsewhere and take their country of filing with them. The REAL problem is what the government is, and has been, doing with our money for many years now. GW has certainly not helped our situation, but he is far from the only contributor to the problem. I like the plan Bill used to balance the budget and actually report a surplus for a number of his years in office. It was nice to not keep adding the annual budget deficit amount to the national debt. But considering that the debt is in excess of $47 TRILLION, I think what the feds have really done is throw in the towel, realizing that it is impossible to fix it at this point. We will have to embrace the idea of pushing the "reset" button, and every person, and every company, will just accept that whatever they owed, and whatever they were owed, just went to zero. Think about it. That's the ONLY way it works and keep our present form of government.
Fifth, you're right - we can, should, and MUST change the thieves representing us (isn't that a laugh? "representing us" - HA). And I agree that off-shoring our jobs is killing our economy. I would point out that members of Congress of both parties have let this happen, including the generally Democratic NAFTA, SAFTA, CAFTA crowd. Plenty of blame to go around on that.
Sixth, the couple hundred top execs that get the really big bonuses aren't our main problem, and it's horse hooey that you think it is. Granted, it pisses us all off when we hear about someone getting $20M or $50M in a bonus, but part of that is how our system works. They got their bonus for doing EXACTLY what they were retained by the shareholders to do. If part of that was by cutting costs by moving jobs off shore, and there was no legislation that prevented it, even if you and I HATE it, you can't blame them for doing it, and reaping the rewards of higher earnings which was their sworn and fiduciary duty to the stockholders.
I'd like to tell you that there are perfect answers to all these things - that honest representatives were around every turn, that everyone paid fairly into the tax system, that it was easy for people from all political affiliations, nation origins, religious views, etcetera, to get along and come to agreement. But it isn't and it hasn't been since the early days of the Republic. Thomas Jefferson, John Adams, Ben Franklin, Hancock, Washington, et al, all had their moments of angry and bitter dispute. The difference between then and now? Probably that those men were more honorable and compromised for the good of the nation, instead of themselves.
By the way, M. Nature, lots of assumption on the part of your post. I think Hillary and her team miscalculated based on Obama's "come-from-nowhere" popularity. They simply never expected him to be in the running at the end. Also, I wasn't aware that Hillary directed what the media played about other candidates - nice power to have, huh?
May 10, 2008
1:53 PM
Dirty Sanchez writes:
I wonder how long it will be before the RTD Park 'n Ride lots are changed to corrals for horses and ponies? Perhaps the day is near when all those green lawns will pay for themselves as horse food. Low spots in the Plate can become crossings and watering places. Oops, the state will most likely start adding toll bridges at those points since the new tollroads won't be used much. I see many changes in the future since everyone is waiting for "someone else" to come up with and idea to replace gas. I'm not holding my breath waiting...the horse and the pony are being trained for driving.........you betcha.....just like the horse drawn carriages you laughed about in Iowa and Missouri.
May 10, 2008
3:51 PM
Captain America writes:
Gas prices aren't affecting the way I drive--yet. But then I live in town close to work, don't have to drive to the grocery store, things like that. Might make me think twice about hitting the road for a summer trip. (And before anyone mentions it, the "gas-tax-holiday" pandering wouldn't change that a bit.)
It goes completely against common sense to claim that gas companies who are now reaping record profits aren't part of the problem. And those record profits aren't just about price per barrel--they're also about the "incentives" given big oil by the current administration. Gas prices might not be a direct result of Bush policies alone, but they're in the mix.
May 10, 2008
4:10 PM
SASQUATCH writes:
GASOLINE AGONY MAP:
http://bp3.blogger.com/_otfwl2zc6Qc/SCW8jf8regI/AAAAAAAAEe8/rUcPf2s5agA/s1600-h/gasmap.bmp
The AGONY is the very most in those liberal/anti-energy/anti-drilling states in the northeast and California, the epicenter of enviro-phobia. Justice, there is a God afterall. And the eco-hysterical crowd is only getting what thet voted for anyway!
The system works and I hope iurts.
May 10, 2008
4:27 PM
Adjunct Skeptic writes:
Since you know so much about these subsidies given to the oil companies by the government Captain, please educate the rest of us by providing the exact amount of the subsidy, the circumstances in which it is paid, when it was instituted, and the dollar amount that has been paid to date to at least several of the recipients.
I'm anxiously waiting hearing on this because I've seen it mentioned here several times, but nobody has ever replied with ANY such information, so I'm beginning to think it is a fictitious claim.
May 10, 2008
5:38 PM
SASQUATCH writes:
Captain America is nothing but a whinning, hate-Big Oil enviro-phobic liberal who can offer no data, proof or evidence to support his case--he is a financial phony and economic weakling without any credibility. Chew on this Captain America, how many barrels of crude did you deliver and how much tax did you pay?:
According to IRS data for 2004, the most recent year available:
Total number of tax returns: 130 million
Number of Tax Returns for the Bottom 50%: 65 million
Adjusted Gross Income for the Bottom 50%: $922 billion
Total Income Tax Paid by the Bottom 50%: $27.4 billion
Conclusion: In other words, just one corporation (Exxon Mobil) pays as much in taxes ($27 billion) annually as the entire bottom 50% of individual taxpayers paid in 2004 (most recent year available), which is 65,000,000 people! Further, the tax rate for the bottom 50% was only 3% of adjusted gross income ($27.4 billion / $922 billion) in 2004, and the tax rate for Exxon was 41% in 2006 ($67.4 billion in taxable income, $27.9 billion in taxes).
Ecpect no response form this financial midigit.
May 10, 2008
6:08 PM
Adjunct Skeptic writes:
Well, I always hope for a legitimate reply, in case they are right in their statements, but it is very frustrating to hear people beat the drum of rhetoric and never be provided any proof. As a country, as a people, how are we to progress under such circumstances?
May 11, 2008
5:00 AM
Anonymous writes:
http://www.cato-at-liberty.org/2008/04/02/oil-subsidies-in-the-dock/
"- and it allows the oil industry to write-off $13.6 billion over ten years that might otherwise be sent to the federal treasury. While a good case could be made to get rid of Section 199 in toto – the feds shouldn’t be in the business of artificially making some business activities more economically attractive than others – limiting that deduction for oil and gas companies"
"Congress is presumably less inclined to offer such a plan because those subsidies are far more important to “Little Oil” than they are to their “Big” brethren, and it’s the former – not the latter – that has most of the political clout in Washington."
"“So what?” you ask? Well, the more you tax “Big Oil,” the less return investors will get on money plowed into oil production. The less return on investment, the less investment there will be. Less investment equals less production, and less production equals higher prices. This is fact, not theory. Analysts at the Congressional Research Service report that the 1980 Crude Oil Windfall Profits tax reduced domestic oil production by 3-6 percent and increased oil imports by 8-16 percent for exactly that reason."
lets not make that WFP tax mistake again.
May 11, 2008
6:24 AM
janis writes:
If some ignorant slob repeats for ten years that it's the green group making fuel costs go higher, it becomes gospel.
Sasquatch, it was innovation and invention that built this country, not strangling ideas. Spain, who has a climate very similar to Colorado, passed a law requiring ALL public buildings to have solar. The Netherlands is a model of what can be done with recycling,and wind power.
We have become fossilized slaves to one form of energy, one mode of transportation. How about a bullet train from Grand Junction to California? Wouldn't it be nice to hop on a train and wake up 6 hours later at the beach?
And what about the good ole theory of competition making the marketplace better? Where's the competition for Exxon? There isn't any, and they work hard to keep it that way...
I say, let's put our best and brightest to work on ot only giving us energy alternatives., but planning for bullet trains across this country, and interconnecting metro systems..make us independant of mideaastern oil poobahs, Halliburton, and all the rest...
May 11, 2008
6:54 AM
Anonymous writes:
And what about the good ole theory of competition making the marketplace better?
Its happening! America is great. Some of the greatest minds in Silicon Valley are working on this. California has electric and biofuels. Its only a matter of time and effort.
5 dollar a gallon gas will most certainly push this priority.,.. instead of rebuilding Iraq.
May 12, 2008
7:29 AM
SASQUATCH writes:
SOARING OPEC-MONOPOLY PRICES V. SOARING POST OFFICE-MONOPOLY PRICES:
http://bp2.blogger.com/_otfwl2zc6Qc/SCcHVViEsqI/AAAAAAAAEfk/xWianrHT-MY/s1600-h/stamps.bmp
So who is worse, who is gouging the most? And folks really want that very same crowd to manage our Social Security amd Medicare?
May 12, 2008
7:38 AM
Anonymous writes:
Brilliant argument there Bigfoot. Next you will be forwarding the email about why to be glad your car does not run on Nyquil, etc.
Idiot.
May 12, 2008
7:55 AM
Anonymous writes:
http://www.sfgate.com/cgi-bin/object/dayinpictures?o=4&f=/g/a/2008/05/02/dip.DTL&type=dayinpictures