PREGUNTAVER

This is a nice clip. Timely and a must view.

Turmoil in the major supply sources Iraq, Nigeria and Iran created fears that supply will not be free flowing like before. This resulted to a record breaking price that peaked at $93.20 a barrel, before slipping back to $93.05. The current price is about 29% increase to the price level five months ago ($65.89 per barrel). Whenever there is a movement in oil prices, I always go back to the oil's real value which is estimated by experts to be at $182/barrel. At the rate that the prices are moving, I'd say that we're on our way. Time to devout more energy to alternative sources of fossil fuel, alternative(renewable) energy and better fuel efficiency of our gas guzzlers. The legendary Lee Iacocca claims that unfair trade practices cause the low sales of American in Japan. I beg to disagree. Other than better quality of Japanese cars compared to the US automobiles, compare the fuel efficiency of Japanese cars against the US vehicles. The result should be enlightening enoug...

All this fluctuations are believed to be lacking for it does not reflect the true price of oil. Let's talk about this later, as well.

Just like a few other governments, the US (through its congress), is pushing for the wider usage of bio fuels. As reported by ABC News , such a scenario, coupled with the development of fuel efficient automobiles are making oil executives withhold plans to expand their existing refineries. If that happens, high pump prices of gasoline is expected to be the future scenario. At the moment, there is an existing shortage of oil refineries in the US. In addition, demand for gas products is expected to increase. However, President Bush's call to reduce the demand by 20% though the wider use of bio fuels and development of energy efficient automobiles is making the oil industry rethink its expansion plans. "Asked recently whether Chevron Corp. might build a new refinery, vice chairman Peter Robertson replied, "Why would I invest in a refinery when you're trying to make 20 percent of the gasoline supply ethanol?" The ABC news report included various opinions regarding ...

CNN.com reports the increasing gas prices in the US that started on May 13. The current average is now above US$3.00 per gallon which is 12.9% increase from last months figures. To make matters worse, more increases are expected due to a projected increase in demand during the summer season. "AAA warned in congressional testimony last week it believes prices will approach $3.25 a gallon over the next 60 days. Even with the record gas prices, AAA is predicting a record number of Americans will be hitting the road during the holiday weekend, with 38.3 million expected to be traveling 100 miles or more, up 1.7 percent from a year ago. And most of those - 32.1 million - will be driving, according to the motorist group." The current pump prices may be worrying us too much but let us examine an old post in this page. Today's price of crude as posted at http://www.oil-price.net, is $65.89/barrel. A few months ago, an article quoted a BBC news report that interviewed experts w...

This should be a very good piece of info for import dependent economies. Oil prices are down by US$17/ barrel. Of course, Oil exporting countries are not very happy with this news. However, prices have been steadily rising, the past several months and most of the world has been praying for its halt, at the very least. Just a couple of years ago, the price of Crude Oil was about half of the current level. Where is the price of Crude Oil headed? Some predict some increases in the short term but what really scares me is the calculation that the real value of Oil is about thrice its worth today. What do you think?