Speaking of "Oil Pipe Dreams"...
Market full of oil, price trend "fake": Ahmadinejad
ISFAHAN, Iran (Reuters) - The market is full of oil and the rising price trend is "fake and imposed," Iran's president said on Tuesday, partly blaming a weak U.S. dollar which he said was being pushed lower on purpose.
"At a time when the growth of consumption is lower than the growth of production and the market is full of oil, prices are rising and this trend is completely fake and imposed," President Mahmoud Ahmadinejad said in a televised speech.
"It is very clear that visible and invisible hands are controlling prices in a fake way with political and economic aims," he said when opening a meeting of the OPEC Fund for International Development in the central Iranian city of Isfahan.
Who doesn't already know this?
Exactly, if it's getting so scarce, why do tankers roll up to fill the tanks at Sams Club six or seven times a day. Where are the shortages? Shouldn't there be supply problems somewhere? It's not an embargo like the seventies, but somebody is jerking our chain. There are too many dollars out in the world economy right now.
The peak oil paradigm doesn't say the supplies will go from "full" to "zero" overnight, but that there will be a decline in availability.
Well I just feel, without data to base it on, that it's a not so much a we're running out, but a they figured out they could get away with bidding up the price thing happening this spring. I was just starting to drive when this happend in the seventies. We easily drove less then, for the most part mom didn't work, and schools were located close to the house. I am happy with a gradual increase in the price, for several reasons, conservation, alternatives getting affordable, and other sources getting into production. I see nothing that indicates a supply pinch that justifies the price increase of the last few months. Back in the seventies the supply was much tighter but the price didn't go up this much. I do not doubt we are running out, but even the canadian tar sand oil doesn't cost what we are paying now. The weak dollar is more responsible at this point, but fortunatley all this pain is actually making a few people WAKE UP!