• SAUDI OIL MINISTER: I Don't Care If Prices Crash To $20 — We're Not Budging
    120 replies, posted
[QUOTE=Fatfatfatty;46789018]My parents thinks this is a bad thing because "muh environment"[/QUOTE] ..at least we're driving less on more efficient vehicles. Unlike cuba
Maybe I missed something, but why isn't there a much bigger push for hydrogen fuel? Most abundant element in the universe and still needs to be pumped, so the energy companies will be kept happy. I know electrics have been the trend for years, but hydrogen makes more sense. You don't have to wait hours for a charge. Just refuel like gas and go. Also most likely more environmentally friendly than the batteries of electrics (manufacturing-wise). [editline]24th December 2014[/editline] Also isn't this related to our stock market crash from a few months ago?
Still over 4$ a gal here, but still much better. I went from about 110$ to fill up my truck in the last few months, to 81$ today.
[QUOTE=Fatfatfatty;46789018]My parents thinks this is a bad thing because "muh environment"[/QUOTE] Well, lower gas prices makes taking the car more attractive, so I suppose they're probably right? Oil is a limited resource, and while cars aren't the prime driving force behind climate change, it's gonna suck when there's none left.
[QUOTE=NO ONE;46789083]Maybe I missed something, but why isn't there a much bigger push for hydrogen fuel? Most abundant element in the universe and still needs to be pumped, so the energy companies will be kept happy. I know electrics have been the trend for years, but hydrogen makes more sense. You don't have to wait hours for a charge. Just refuel like gas and go. Also most likely more environmentally friendly than the batteries of electrics (manufacturing-wise). [editline]24th December 2014[/editline] Also isn't this related to our stock market crash from a few months ago?[/QUOTE] There are a few problems with hydrogen, mostly storing it.
[QUOTE=NO ONE;46789083]Maybe I missed something, but why isn't there a much bigger push for hydrogen fuel? Most abundant element in the universe and still needs to be pumped, so the energy companies will be kept happy. I know electrics have been the trend for years, but hydrogen makes more sense. You don't have to wait hours for a charge. Just refuel like gas and go. Also most likely more environmentally friendly than the batteries of electrics (manufacturing-wise). [editline]24th December 2014[/editline] Also isn't this related to our stock market crash from a few months ago?[/QUOTE] Hydrogen as a fuel has many major flaws current technology cann't overcome. It's a gas and completely leak proof systems (for gasses) are difficult. It's an explosive gas- while gasoline is not explosive in liquid form. The current source of hydrogen is crude oil. Although other means of obtaining hydrogen exist they consume large amounts of energy to do so. Short answer- research into hydrogen as a fuel is ongoing but the clear advantage is electric when it comes to powering vehicles.
still around $2.73 here it rises and falls daily but doesn't get near $2.90 anymore, Hopefully it will keep dropping but I doubt it'll get below 2 dollars here I live in New York btw
[QUOTE=timothy80;46782386]Hattiesburg Mississippi has stations at this right now. Shit is fucking amazing[/QUOTE] I was in Hattiesburg last week and saw $1.97
I'm currently in Fort Worth, TX for work and it's $1.83 per gallon right now.
I've got $1.93 here. I was running low on money because Christmas, and I'll say, I'm so happy it was low enough that I could fill my car back up from a little under half with about 12-13 dollars.
[QUOTE=LordCrypto;46782413]short answer: OPEC wants to control all oil in their mind the easiest way to do that is to basically ride the prices down until north american producers aren't willing to produce for that price[/QUOTE] OPEC had always produced this much oil, they aren't going to change their production quotas to let the US catch up. They may well benefit very slightly from it but this isn't some conspiracy against the US, the new US and CAN oil industries are inherently volatile and only exist because oil was at a high price, that has little to do with OPEC
It's $2.60 at my local gas station, and I live in NY
Still around $7.30 per gallon in the Netherlands. :downs:
gas was $1.97 per gallon earlier in new mexico, woot.
[QUOTE=Deng;46782129]How can the Iranians fuck up this bad? They're going to end up falling to bits again at this rate.[/QUOTE] Super outdated Shah-times extraction technologies.
No complaints here. I'm filling my tank for under $30. And my car has to use 93 octane or higher.
[QUOTE=Deng;46782129]How can the Iranians fuck up this bad? They're going to end up falling to bits again at this rate.[/QUOTE] i believe that's the point. saudi arabia and iran are basically polar opposites and are both competing for hegemony and leadership.
I can fill my car for £38 at the moment. Thank you Saudis and your usually horrible cartel.
This can either destroy the North American boom in oil production, thus bringing prices back up to where they were and be more dependent on the Saudi's oil (closing down wells in the USA when prices drop too much, thus reversing the effect); OR Completely destroying the North American production of oil if this lasts a few years, (oil rigs and wells close down across the board) and we become heavily reliant on Saudi's oil like they want us to be, and then the Saudi's will hike the prices skyhigh and gas will jump back up to $5 a gallon and North America will begin the same process over again by restarting the oil rigs. Unless Russia or Iran take drastic action and try to go to war over the oil prices. It is very possible.
Joke's on all of you, I can fill up my ENTIRE TANK for £3.50 at my local petty on my 50cc scooter
[QUOTE=PelPix123;46817181]No it can't. The second they try to fix prices as a monopoly, the prices will eventually rise to the point where other countries can compete again, which will destroy their market share and drive them back down. They've actually totally fucked themselves. They're caught in a loop and will be forced to sell oil for $20 a barrel until they run out of oil in their country, or else risk sharing the market. They've also locked their revenue, because their market share is now stuck inversely proportional to the amount above the natural market price that they've fixed the prices. Whoever convinced them this was a good idea was a fucking genius.[/QUOTE] Something tells me that they know what they're doing, especially when considering that they've consistently been the top players in the market for god knows how long.
Just saw one for $2.79 a gallon here. I'm still thrilled about it, because it hasnt gone below $3.50 for years here in New York.
there's still no viable alternative to the petrol-run car, so why is this happening? There's more people using transport en masse, and more electricity consumption(produced by a big margin by burning fossils) than ever
Our govt' used to subsidise our oil keeping prices around $0.70 USD a litre. Now they've dropped the subsidy and oil prices are $0.60 USD :dance: It's a win-win for both the govt' and the people.
Sorry, you need to Log In to post a reply to this thread.