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Author Topic: Oil price rockets as militants head towards Iraq's reserves Back to Topics
NOTSOGRN
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Michigan

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Message Posted: Jun 15, 2014 1:13:14 AM

Oil prices have reached a three-year high of $113.50 a barrel following rapid gains by militants in Iraq.

The key Brent Crude index rose by nearly $5 over the week, a level not seen since the Arab Spring of 2011, after militants of the Islamic State of Iraq and al-Sham (Isis) captured Mosul, Iraq’s second city on Monday,

Meanwhile, Kurdish fighters, known as the Peshmerga, have moved to take control of the oil-rich northern city of Kirkuk.

A number of UK oil firms such as Genel Energy, Gulf Keystone Petroleum, and Afren have assets in Iraqi Kurdistan, the semi-autonomous region in the north of Iraq, 50 miles from Mosul. Genel’s chief executive, former BP boss Tony Hayward, said it was ‘business as normal’. Gulf Keystone’s chief executive Todd Kozel said the firm ‘remained alert to...
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REPLIES (newest first) Post a Reply
ep3guy
Champion Author Maryland

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Message Posted: Sep 9, 2014 5:58:28 AM

Ok
ss70
Champion Author Detroit

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Message Posted: Jun 16, 2014 9:24:16 AM

Just full of it .. thx sleeping feds and traders
streetdesign
Champion Author Illinois

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Message Posted: Jun 16, 2014 8:05:07 AM

Greed. Speculative greed is the cause of high gas prices.
dandvicb
Champion Author Bridgeport

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Message Posted: Jun 16, 2014 6:56:51 AM

SAME OLE BS!! PURE MARKET SPECULATION & WALL STREET GREED!!!
KrsnaDragon
Champion Author Montreal

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Message Posted: Jun 16, 2014 12:32:42 AM

Speculation breeds despair.
crreed1
Champion Author West Virginia

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Message Posted: Jun 16, 2014 12:23:37 AM

they all love it
Aviator_Rob
Champion Author New York

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Message Posted: Jun 16, 2014 12:21:38 AM

"I 'EFFIN TIRED OF IT! COME ON AMERICA! DO SOMETHING OBAMA! "

What exactly should this country do to make you feel better about yourself?
Aviator_Rob
Champion Author New York

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Message Posted: Jun 16, 2014 12:20:53 AM

"OPEC Ministers love it and they know Obama is a fool when it comes to doing anything constructive like building the Keystone pipeline! "

Get it into your head that Keystone oil is meant for CHINA. It won't lower prices but actually raise them because Keystone oil is already being sold at a discount since it's currently hard to get to the coasts, to be loaded onto tankers and exported away.

Make it easier to move and that discount goes away.
STLCARDSFOREVER
Champion Author Illinois

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Message Posted: Jun 16, 2014 12:19:43 AM

I 'EFFIN TIRED OF IT! COME ON AMERICA! DO SOMETHING OBAMA!
Aviator_Rob
Champion Author New York

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Message Posted: Jun 16, 2014 12:18:05 AM

"Bet the US intervenes before that happens....on second thought, red lines mean nothing to this administration. "

Feel up for enlisting? Nobody else does. No boots on the ground. No airstrikes. No nothing. If they can't stand up by now, they never will.
jetskijerry
Champion Author North Carolina

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Message Posted: Jun 16, 2014 12:17:45 AM

greed
Aviator_Rob
Champion Author New York

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Message Posted: Jun 16, 2014 12:16:17 AM

"Oil and gas prices weren't this high when Bush invaded Iraq, and there was no oil coming out of the country, so why is it this high now?????? "

We've had 11 years since the invasion to suck up all of the cheap oil underground worldwide. Only the expensive and hard to get at oil is left.

Get used to high prices. They're not going away.
boatfloyd
Champion Author Jacksonville

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Message Posted: Jun 16, 2014 12:16:16 AM

Might have to cut back on driving?
pgerassi
Champion Author Milwaukee

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Message Posted: Jun 16, 2014 12:15:15 AM

Baloney!
Burger09
Champion Author Ontario

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Message Posted: Jun 16, 2014 12:14:11 AM

Gouging!!!
Aviator_Rob
Champion Author New York

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Message Posted: Jun 16, 2014 12:14:07 AM

"There will still be a glut shortly. "

How?
jetskijerry
Champion Author North Carolina

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Message Posted: Jun 16, 2014 12:13:26 AM

crooks
alaric76
Champion Author New Jersey

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Message Posted: Jun 16, 2014 12:13:10 AM

gas prices are stable here.
jetskijerry
Champion Author North Carolina

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Message Posted: Jun 16, 2014 12:13:09 AM

40 cents difference between Statesville, NC and Rock Hill, SC.
jkpsr
Champion Author New Jersey

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Message Posted: Jun 16, 2014 12:12:03 AM

There will still be a glut shortly.
Glock26
Champion Author Dayton

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Message Posted: Jun 16, 2014 12:10:55 AM

Bull!
SteelPenny
Champion Author Dallas

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Message Posted: Jun 16, 2014 12:10:54 AM

The price will top out at a zillion dollars a quart.
TheSicilian
Champion Author Jacksonville

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Message Posted: Jun 16, 2014 12:09:59 AM

Just what no one needs
jetskijerry
Champion Author North Carolina

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Message Posted: Jun 16, 2014 12:08:53 AM

gas is still going down here.
cheaper0ON
Champion Author Ontario

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Message Posted: Jun 16, 2014 12:08:33 AM

Not Good.
jetskijerry
Champion Author North Carolina

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Message Posted: Jun 16, 2014 12:08:25 AM

This is such crap.
Syncrude
All-Star Author New York

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Message Posted: Jun 16, 2014 12:08:22 AM

ok
gasmask78
Champion Author Virginia

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Message Posted: Jun 16, 2014 12:07:53 AM

ugh.
craigsf38
Champion Author Rochester

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Message Posted: Jun 16, 2014 12:07:08 AM

Old
Matt G
Champion Author Boston

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Message Posted: Jun 16, 2014 12:05:43 AM

Ok so why did we go there
yakstar
Champion Author Montreal

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Message Posted: Jun 16, 2014 12:05:37 AM

sweet be jesus!
Tekkersmom57
Champion Author Syracuse

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Message Posted: Jun 15, 2014 10:44:14 PM

Very good question, "caddilac"!!!!
sljbc475
Champion Author Tucson

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Message Posted: Jun 15, 2014 10:18:50 PM

Prices are too high!
alterman156
Champion Author New York

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Message Posted: Jun 15, 2014 10:10:41 PM

Not good news to say the least.
bwatchingu
Champion Author Arkansas

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Message Posted: Jun 15, 2014 5:56:41 PM

Another excuse
YumaFellow
Champion Author Arizona

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Message Posted: Jun 15, 2014 3:17:59 PM

This is just more spin. Iraq has not been a major player for some time now.
caddilac
Champion Author Ontario

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Message Posted: Jun 15, 2014 2:49:41 PM


Oil and gas prices weren't this high when Bush invaded Iraq, and there was no oil coming out of the country, so why is it this high now??????
paulydel
Champion Author Delaware

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Message Posted: Jun 15, 2014 2:37:38 PM

We shouldn't have to be worrying about gas. We have enough of our own. We should be taking care of ourselves.
IARidgeRunr
Champion Author Quad Cities

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Message Posted: Jun 15, 2014 2:32:26 PM

Went up a nickel to a dime here.
bigdipperMS
Champion Author Mississippi

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Message Posted: Jun 15, 2014 2:31:10 PM

If the standing army of Iraq would stand up to the ISIS, it would end quickly. If not, things will really start to deteriorate in a hurry. Our gas prices dropped, however, another three cents today to $3.29. Go figure.
WGW1
Champion Author British Columbia

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Message Posted: Jun 15, 2014 2:31:05 PM

are we surprised??
ostrichNV
Champion Author Austin

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Message Posted: Jun 15, 2014 2:27:30 PM

Just another excuse for the speculators.
bobcatfan
Champion Author Kentucky

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Message Posted: Jun 15, 2014 2:27:29 PM

Bomb the roads and connections between Iraq and Iran and Syria. Create a "no pass" zone and starve the militants out.
zaq001
Champion Author Atlanta

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Message Posted: Jun 15, 2014 2:26:45 PM

Bet the US intervenes before that happens....on second thought, red lines mean nothing to this administration.
JoeKR
Champion Author New Jersey

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Message Posted: Jun 15, 2014 2:25:33 PM

Now let's all pay attention to how the robber barrons take us to war this time!
JerryJoeUC
Champion Author San Antonio

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Message Posted: Jun 15, 2014 2:24:41 PM

Not surprised by gas prices going up because...pick a reason, but was Iraq's oil output high enough to impact the whole world like this?
braves89
Champion Author Chicago

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Message Posted: Jun 15, 2014 2:22:51 PM

all about GREED!
24RaceFan
Champion Author Saskatchewan

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Message Posted: Jun 15, 2014 2:20:50 PM

More problems in the Middle East that have a large bearing on the world price of crude oil.
puckheadmn
Champion Author Twin Cities

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Message Posted: Jun 15, 2014 2:19:10 PM

Ruining the economy.
oldiesman
Champion Author New York

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Message Posted: Jun 15, 2014 2:18:10 PM

OPEC Ministers love it and they know Obama is a fool when it comes to doing anything constructive like building the Keystone pipeline!
puckheadmn
Champion Author Twin Cities

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Message Posted: Jun 15, 2014 2:16:50 PM

Right.
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