China's usage is soaring right now. China's ongoing development is cause alone to keep prices high and higher.

So you're telling me to rethink purchasing an H2?

$40 a barrel...
http://story.news.yahoo.com/news?tmpl=story&cid=564&ncid=564&e=3&u=/nm/20040507/ts_nm/markets_oil_dc_29

China's economy is growing insanely fast, it will be a huge draw on the world's oil supply in the near future.

Of course, a developed economy can afford much higher prices than a developing one.

It's gonna be an interesting century.

Perhaps our European members (or other internationals) should chime in as to how much a gallon (litre) of gasoline costs nowadays where they live? And why it costs so much?

Gawd damn you!
Boy, don't you know cheap gas is our god given right as red blooded 'merkans?

Don't worry. The combination of Oil Cartel price increases and inflation will push gasoline to the $3.00 range eventually. That's when many SUV drivers are really gonna sweat it out.

Well Saudi Arabia has a lot ah oil and them god-less sumsabitches were the ones be-hind 9/11. See where I'm goin' right har?

Yeah. We'll just have to watch Michael Moore's "Fahrenheit 911" to see how it all turns out. That is, if it is distributed before the Nov. election.

ooops.

[Edited on May 07, 2004 by jakob_sweven]

first smack, now oil!
whtevr willa doo

i hope all the oil runs out. ALL OF IT.

No you don't.

The U.S. food supply, both farming and distribution, is built entirely around cheap oil. Without it, food prices spike. Take milk for instance, which is very energy intensive to produce and get to the grocer.

I predict OPEC will completely fall apart in the next few years. None of the OPEC countries pay much attention at all to the production limits.

AFAICT, Saudi Arabia is just using OPEC to shield it's own production problems from public view. Saudi Arabia likes to act like it can produce enough oil for the entire world without breaking a sweat, but the fact is, they are having trouble just keeping production moving at all. The oil business in SA relies HEAVILY on foriegn workers, and with the current threat of terrorism, it is just not worthwhile for western workers to go work there.

OPEC will not be able to survive the competition that is coming, especially from russia.

I agree with the general idea that oil will continue to climb in price, but opec will have nothing to do with it, in the long term anyway.

heheh.... ~ milk ~

looking into any sort of oil-less energy source is thinking outside of the "reality" box.