Oil hits record on Mexico outage - Reuters

[Eugene]

Source: Reuters

Oil hits record on Mexico outage
Mon Oct 29, 2007 1:01am EDT

By Fayen Wong

SYDNEY (Reuters) - Oil leapt to its third record high
in a row on Monday as a brief halt to one-fifth of
Mexico's production added fuel to a rally driven by a
stand-off between Turkey and Kurdish rebels, a weak
dollar and winter supply fears.

U.S. light crude for December delivery jumped as much
as 1 percent to touch a record high of $92.79 a barrel,
and was trading up 80 cents at $92.66 by 0238 GMT.
Oil prices have soared about a third since mid-August,
when they stood below $70.

London Brent crude also hit a record high at $89.62, up
93 cents.

Prices rose after Mexico's state-owned oil company
Pemex said it was shutting about 600,000 barrels per
day (bpd) of oil output due to bad weather in the Gulf
of Mexico and high terminal stocks, fanning concerns of
a U.S. supply shortfall this winter.

-snip-

Read more: http://www.reuters.com/article/hotStocksNews/idUSSP21758220071029

[opihimoimoi]

1. BushCo did their job well....Almost $93 a barrel...$92.72...the Oil Twins did it Right

[orleans]

2. "at least he was in the oil business, so he'll be able to keep our prices low"

something about jawboning

and telling them to "open up the spigots"

yeah, sure! george bush can kiss my ass!

[opihimoimoi]

3. I recall them Pub Talking Points.....pathetically Ignorant and naive

[orleans]

5. no shit. god! what the hell were people thinking??? n/t

[opihimoimoi]

7. Sheeple don't think....not really....they just follow the bell......

[hogwyld]

4. Keep on climbing!!!

The higher the oil goes, the more likely we'll adopt alternative, or modify our lifestyles to the new paradigm.

[Javaman]

6. or not...

it's the long drive to the end of the universe.

People whine and complain about how they live out in the middle of no where and have to commute umpteen dozen miles per day.

I have been taking the bus for the past two years as the price of gas has climbed, no increase in ridership.

we will see various protests for the price of gas but not for the war before anything is done.

frankly, we are living in the last few moments of the titanic. we have already struck the ice berg, but wide spread panic hasn't occurred yet. There are the ones that are living well, still sipping their brandy in luxury, there are the onces that are concerned about whether or not they should be concerned, there are the majority of the people, traveling in steerage, who have water around their ankles and are trying like hell to tell someone, or get above deck, but the gates have been locked and the steward is telling them to such the fuck up.

Then finally, there are the people who drive the ship. They know things are bad, very bad. Life over bad, but they keep their traps shut in fear of creating a panic.

But you know what? the panic will happen anyway.

So there we are.

The next step is when the ship begins to list.

Basically, food goes from expensive to going up a buck since yesterday. It's at that point, the creepy feeling starts to wash over people.

"uh oh, I think we are in trouble". Naaa, we were in trouble 30 years ago, we are now at the point of no return.

At least the titanic had "some" life boats and "some" life vests. It's every man and woman for themselves for us.

Plant a garden. harvest rainwater. buy nothing. reuse. get to know your neighbors.

Because one fine morning, we will all wake up to something in the news that will cause oil to skyrocket. Not a few dollars, but 10's if not dozens of dollars (if we are lucky, that is).

At that point all bets are off and the ship has broken in half.

Weeeeeeeeeeeeee!!!!!!!!!!!!!!!

[Strelnikov_]

9. Quotes from NPR Friday program concerning California wildfires

Remind you of the attitude toward our looming energy catastrophe?

<NPR talking head> What you have is a house that is 9x as likely to survive a passing wildfire. Developers in southern California . . . so far have strenuously opposed attempts to make the fire-safe construction practices mandatory. A plan to do just that in San Diego fizzled a few years ago when builders said it could raise home prices by several thousand dollars.

<Former fire official> "In California, the idea that you mandate something is onerous to many, many different levels. But by the same token, you talk about expense, I can't help but think that everybody who lost those 1500 houses over the last couple of days, if they had been given a chance to invest $5000 to prevent that from happening, they would have done so. They're just not motivated to do so until its too late."


<Burned out homeowner> "Never in the world did I think something like this would happen," he said. "Sunday, we're making dinner. Everything's fine. We're watching the Malibu fires on TV and feeling for them. And the very next day, you're left homeless with nothing. That quick, it can change for you. That's a lesson for everyone."

+++

As our fifth strand, we have to wonder why the kings and nobles failed to recognize and solve these seemingly obvious problems undermining their society. Their attention was evidently focused on their short-term concerns of enriching themselves, waging wars, erecting monuments, competing with each other, and extracting enough food from the human peasants to support all those activities. Like most leaders throughout human history, the Maya kings and nobles did not heed long-term problems, insofar as they perceived them.

. . .

Like Easter Island chiefs erecting ever larger statues, eventually crowned by pukao, and like Anasazi elites treating themselves to necklaces of 2000 turquoise beads, Maya kings sought to outdo each other with more and more impressive temples, covered with thicker and thicker plaster, reminiscent in turn of the extravagant conspicuous consumption by modern American CEO's. The passivity of Easter chiefs and Maya kings in the face of the real big threats to their societies completes our list of disquieting parallels.

From Chapt. 5, 'The Maya Collapses', from 'Collapse: How Societies Choose To Fail Or Succeed’ by Jared Diamond


It has happened before. It will happen again.

[Javaman]

10. Um no, I was responding to the previous question. nt

[NickB79]

8. I don't think you're going to like the modifications to our lifestyles Peak Oil will bring

Unless you are actually looking forward to back-breaking working as a 21st century serf just to supply yourself and your family with shelter, clothing, and enough food to keep from starving.

If that's the case, my dad's farm has a lovely pile of straw in the loft over the hog barn you're welcome to move into when we enter the 2nd Great Depression in the next few years.