Bloomberg reports that President George W. Bush intensified pressure on Congressional Democrats to end an offshore drilling moratorium, saying lawmakers have closed off "vast'' oil reserves that could be tapped to lower record gasoline prices.
For the people of the world who are are waiting for the oil prices and the petrol prices to ease off, here we have more and more points for guessing :
Iran
OPEC
U.S. drilling
Speculation
As on July 19th, oil prices have fallen a fourth straight session as fears lingered that record prices are forcing consumers to cut consumption. Also, some statistics point out that US oil demand in recent weeks was down 2 per cent from the same time last year as gasoline and other fuel prices caused drivers to think twice about trips.
Some analysts predict that oil will end up at US$ 150 per barrel by year end. No predictions from us. There are too many variables to add in the prediction machine, we fear that the machine will break down?
Saturday, July 19, 2008
Wednesday, May 28, 2008
Two different thoughts on Biofuels
Let us see who may be right here.
Thought 1 on Biofuels :
This is from the general people of the world. With the prices of oil reaching over $130 a barrel a few days ago, people are hoping that an alternative energy source can be found. One of the answers is Biofuels. If Biofuels was available in abundance, some pressure would of course be put on the OPEC and the crude prices could ease off.
Thought 2 on Biofuels :
This thought is voiced by the oil rich countries and they warn strongly against Biofuels. What they say is that if the prices of Biofuels was high, then the farmers woud grow the Biofuels making plants rather thn grow crops. This would cause a world shortage on food as well as increase the food prices. One way of keeping the prices of crude high?
What does an ordinary man do in the meantime? Look at the oil prices everyday and wonder. Today, the prices have fallen to US$ 127 per barrel. Since many of us are not from oil rich countries, let us hope that the speculation ceases and we are back to realistic oil prices.
Thought 1 on Biofuels :
This is from the general people of the world. With the prices of oil reaching over $130 a barrel a few days ago, people are hoping that an alternative energy source can be found. One of the answers is Biofuels. If Biofuels was available in abundance, some pressure would of course be put on the OPEC and the crude prices could ease off.
Thought 2 on Biofuels :
This thought is voiced by the oil rich countries and they warn strongly against Biofuels. What they say is that if the prices of Biofuels was high, then the farmers woud grow the Biofuels making plants rather thn grow crops. This would cause a world shortage on food as well as increase the food prices. One way of keeping the prices of crude high?
What does an ordinary man do in the meantime? Look at the oil prices everyday and wonder. Today, the prices have fallen to US$ 127 per barrel. Since many of us are not from oil rich countries, let us hope that the speculation ceases and we are back to realistic oil prices.
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