Oil Exporters Are Now Unable To Keep Up With Demand

I'm surprised they actually let you post on here...

Ha, ha, ha...get a clue buddy. Most of the States in America allow cars that pollute heavily to be driven without any restriction. NOT the case in Europe were cars undergo heavy testing(including level of pollution) every year or every two years in order to be allowed on the streets.
In America you can drive a car that pollutes heavily and is overall technically and esthetically in an unacceptable condition which puts the lives of other participants in traffic at risk. AGAIN!!!... in most of the States in America you can drive any 200 dollars POS car without anybody ever making sure that the car is safe enough to be driven on a public road!!!!!!!

The europeans do drive more efficient cars than we do Dumb ass. you are the most ignorant A$$ I have ever encountered. none of your posts make sense. We Amreicans are the most wastefull when it comes to fuel. All of the other countries you listed drive much more fual effecient cars than we do.

How can a fuel Ineffecient car be clean? Thats like seeing a Mcdonalds infested with roached but saying it's sanitary. You must be an abortion that lived. I bet in school you asked the teacher what came after X, she said Y and you said because I want to know.

It is time for the US Citizens to demand more drilling and exploration here in the States. For too long the environmentalist whackos have been in charge, meddling and preventing our oil industry from adding new supply and capacity. Time to throw them and their socialist global warming notions off the train.

While I agree, those reserves are necessary for the ever so imminent 'oil armagedden'.

I cant spell today but you know what I mean.

Its unreal how 10% of the population determines what this country does what happened to majority rules.

Education is the most profitable industry of all time. Atleast in the U.S.

Big Oil's got nothing on the top universities in the U.S.

you only display your OWN ignorance. the indians invented the concept of Zero. modern mathematics --to say nothing of engineering-- would've gotten NOWHERE without that!

and the contributions of the chinese to ALL the arts of civilization are too numerous to mention.

as far as mere mechanical driving skills, most asians have not had the LUXURY of open and uncrowded roads that americans enjoy. on the other hand, in the "combat driving" of dense, inner city traffic, they'd leave tire tracks ALL OVER your sorry @ss.

Its all a bunch of greedy BS! The oil company's and the government are treating us like crap!

It's interesting to note that the US consumption of oil is at a new 5 year low as of yesterday. The rest of the world is up however.

What we are starting to see is the availability of cheap oil decreasing. There's still a lot of oil around, but not in easy places to get to or in easy condition to pump and refine. Saudi production has peaked and is on the decline. For years, they have been the cheapest oil around.

Oil just went down to $126.46... :-)

To date I have never seen, heard or read of any gas station stating they cannot get gas. They have been talking about a shortage for quite some time now starting a few years ago...maybe the oil is with the rice and wheat you cannot buy.(sarcasm)

I have said this before, and I will say it again.

Any article that states there are going to be oil "shortages" is junk- and is no doubt written by some semi-retarded twit with a degree in journalism.

Shortages only occur when the government sets price controls. Yes, we had shortages in the 70's. The reason we had them is because Nixon signed the Emergency Petroleum Allocation Act in 1973, which set prices below the market equilibrium.

Now, what these people are actully talking about is a decrease in supply. What happens then? The price rises and the market re-equilibrates; no shortage. From the perspective of the market consumption = production. Always.

Now, there are complcating factors. Because industries that operate under a fixed stock contraint are subject to inter-temporal allocation optimality, it can be argued that there is no supply cuve. That does not actually change what I said above however.

Fine, but what you're saying describes the situation in a theoretical/technical sense.

From the perspective of the average person/practical reality, based on current demand level and growth rates and price expectations, there is a shortage.

Of course if you reduce demand, slow down growth, or increase people's price expectations, then the theorectical model always works...but that's not how people actually see the situation, or feel it in their day-to-day lives or pocketbooks.

Those are made primarily for the power hungry American market.

This is the article that the speculators have been waiting for . Bid up a storm guys and let the shilling begin

THERE PLENTY OF OIL! WE JUST AREN'T PAYING ENOUGH TO GET IT!

Iran has doubled up on floating oil storage. They currently have at least 10 VLCC tankers moored in the Persian Gulf with approximately 20 million barrels of crude. Iran's crude is high in sulphur and only a few refineries can process it. Iran has nowhere to move its crude. With Iran contracting so many tankers just to load and wait the price for available tanker rental has more than doubled in the past three weeks. This is also pushing the price of oil higher since there is a shortage of tankers to transport to places in need.

Iran musings: Iran now has 28 million barrels of crude parked in the Persian Gulf. Why? Here is where the plot thickens. You may remember Iran threatened to cut production last week and that sent oil prices soaring before the claim was softened. Is Iran just waiting for oil prices to go higher to get a better price for their oil? Was the production cut rumor a way to jack up prices even higher? Surely they would not take this big of a gamble worth billions of dollars with a plan to bluff prices higher. Absolutely they would! They tried this exact strategy in 2006 and failed. Beginning in March of 2006 Iran started making threats that they were going to cut production while storing 20 million barrels of crude in tankers parked in the gulf. Unfortunately for Iran instead of paying Iran's higher price for crude there was enough oil on the market then for traders to just buy elsewhere. Iran's bluff did not work and they ended up selling it at a huge discount to Shell and India's Reliance. It appears Mahmoud Ahmadinejad is so desperate for money to keep his regime alive that he is trying the same trick and with Saudi willing to pump more of a higher quality oil it appears Iran is going to lose money again. Iran is in economic trouble with 45% of the population kept inline only by heavy subsidies and military force. The other 55% are ethnic Persians. Iran is extremely vulnerable right now. If the U.S. was able to pressure Iran's primary oil buyers (Japan, China, South Korea and Italy) to look elsewhere for another month or so then Iran would really be in trouble and the regime could fail. 80% of Iran's revenues come from oil and for whatever reason it is not selling. Now might be the time to tighten the noose.

.02