Cyclone hits Persian Gulf

[Oracle of Delphi]

MUSCAT, Oman - Oman evacuated tens of thousands of people today, suspended oil exports, and closed the major port of Sohar as a weakening Cyclone Gonu roared toward the Strait of Hormuz, the world's major transport artery for Persian Gulf oil.

Oil prices rose amid forecasts that the storm, a rarity in the region, was barreling toward Iran.

Link: http://www.delawareonline.com/apps/pbcs.dl...6/NEWS/70606019

Edited June 6, 2007 by Pontiac Custom-S

[Hollingsworth]

The bankers at the restaurant I ate at downtown were all abuzz over this. "Time to buy that Prius, James." I overheard.

Of course, you're probably right about $5 a gallon gasoline. As everyone knows, oil prices are very reactionary. Just the rumor of a storm or catastrophe in a major oil producing region sends prices skyrocketing. It's actually quite extraordinary, if you're a business analyst.

[toesuf94]

That was my first thought as well...scares the hell out of me and shows that we need to get ourselves producing here and have a secondary source when stuff like this happens.

Just pray it doesn't do what Katrina did to the Gulf Coast region.

[daves87rs]

There is already talk that it was going to hit 4 bucks because of the bad storm season...

I heard (haven't seen yet)-that oil took a big jump today...

And that oil could hit almost 90 bucks a barrel before the end of July.....

Well, there goes the idea for a new car......*sniff*

[Intrepidation]

I bet the price of oil jumps a lot...right before teh road trip too...

[ZL-1]

Wow, that is unusual!

[aaaantoine]

...Crap.

[FAPTurbo]

Something about cyclone tells me Muhammad and Allah are getting a wee bit upset these days.

[FUTURE_OF_GM]

The bankers at the restaurant I ate at downtown were all abuzz over this. "Time to buy that Prius, James." I overheard.

Of course, you're probably right about $5 a gallon gasoline. As everyone knows, oil prices are very reactionary. Just the rumor of a storm or catastrophe in a major oil producing region sends prices skyrocketing. It's actually quite extraordinary, if you're a business analyst.

A.K.A. The oil companies set the prices at whatever the hell they want... Which SHOULD be and would've been illegal back before our government became an arm of big business.

[Guest YellowJacket894]

How does that extra two billion or so of extra foldin' money sound, Exxon? Like your wildest wet dream come true, I'd bet.

[Hollingsworth]

A.K.A. The oil companies set the prices at whatever the hell they want... Which SHOULD be and would've been illegal back before our government became an arm of big business.

But it is great for the stockholders of oil companies. In just one year, I'm ~$20k wealthier because of ExxonMobil's performance.

[Oracle of Delphi]

Again I would support the government nationalizing the oil companies, but with a certain president in office, I know that will never happen.

[CARBIZ]

We only need to observe the cesspool that Venezuela is going to become (or Zimbabwe has) to understand what nationalizing important assets can do. Instead, Washington and Ottawa need to streamline the processes to get the envirowackos off the oil company backs so they can actually build new refineries and explore for new sources of oil in previously forbidden areas. This means getting so-called aboriginal peoples off the oil company backs, too. That is really slowing things down up here in the north.

Additonally - and I know this isn't popular here, governments should increase the taxes on gasoline SUBSTANTIALLY, with the understanding that the extra monies get used for transportation infrastructure and alternative fuel technologies ONLY. The trouble with that, of course, is that the money just goes into general revenue and disappears.

Nothing like $8 a gallon gas to encourage conservation, and just think how many more Iraqs Washington could fund with the extra money!

[Hollingsworth]

I liked what you were saying right up until you proposed increased taxes. The scientific research and implementation of alternative fuels should be a privately funded project, not a government/tax funded one. At most, I would agree of a ratio of up to 30/70 government/private funding.

I'm especially interested in the Product(Red) campaign to fight AIDs in Africa. Though the project, overall, has been less effective than simply donating the money to charities, it does raise awareness, and it does have the benefit of being a privately, business funded endeavor. I'm sure these same companies could do something similar to promote alternative fuels, though I wonder if Hollywood liberals would be as eager to fight for American energy independence rather than other more glamorous, publicity generating causes.

Oh, nationalizing oil companies only opens the door for more socialist endeavors, such as socialized healthcare and union-like controls on American companies.

[Oracle of Delphi]

We only need to observe the cesspool that Venezuela is going to become (or Zimbabwe has) to understand what nationalizing important assets can do. Instead, Washington and Ottawa need to streamline the processes to get the envirowackos off the oil company backs so they can actually build new refineries and explore for new sources of oil in previously forbidden areas. This means getting so-called aboriginal peoples off the oil company backs, too. That is really slowing things down up here in the north.

Additonally - and I know this isn't popular here, governments should increase the taxes on gasoline SUBSTANTIALLY, with the understanding that the extra monies get used for transportation infrastructure and alternative fuel technologies ONLY. The trouble with that, of course, is that the money just goes into general revenue and disappears.

Nothing like $8 a gallon gas to encourage conservation, and just think how many more Iraqs Washington could fund with the extra money!

I don't like what you propose at all! Nationalize the bastards and pass the profits down to the consumer. EG: Lower gas prices. BIG OIL has raped us long enough, time to do a little shafting of our own! Power to the People!

GAS PRICES ON THE RISE, TIME TO NATIONALIZE!

Edited June 10, 2007 by Pontiac Custom-S

[ZL-1]

I don't like what you propose at all! Nationalize the bastards and pass the profits down to the consumer. EG: Lower gas prices. BIG OIL has raped us long enough, time to do a little shafting of our own! Power to the People!

GAS PRICES ON THE RISE, TIME TO NATIONALIZE!

Que haces aqui, Presidente Chavéz? :spin:

[Oracle of Delphi]

Que haces aqui, Presidente Chavéz? :spin:

Presidente Chavéz ou Bush, há uma diferença??

[CARBIZ]

I don't like what you propose at all! Nationalize the bastards and pass the profits down to the consumer. EG: Lower gas prices. BIG OIL has raped us long enough, time to do a little shafting of our own! Power to the People!

GAS PRICES ON THE RISE, TIME TO NATIONALIZE!

I hope you are kidding. Canada had its own oil nationalization debacle 30 years ago when Trudeau created Petro-Canada. Alberta still hates Ottawa today. The fact is, higher oil prices mean the tar sands and other projects are more feasible, which means Canada will be able to export more oil to the U.S. and the Americans can tell Venezuela to f$%k themselves!!

[ZL-1]

Presidente Chavéz ou Bush, há uma diferença??

Is that a black Chevy Suburban following your every move?

[aaaantoine]

(Fixed)

Edited June 11, 2007 by aaaantoine

[Sixty8panther]

Speaking of which Dodgefan I just tried calling you....

[aaaantoine]

I was aiming for the same general area where the cyclone was photographed.

I fixed it, hopefully before anyone notices

Edited June 11, 2007 by aaaantoine

[ZL-1]

I was aiming for the same general area where the cyclone was photographed.

I fixed it, hopefully before anyone notices

I have deleted my post :AH-HA_wink: Edited June 11, 2007 by ZL-1