$7 worst case actually sounds like a positive. I look at that as a positive. That caps upside at 85 or so percent.
Although he tried to post a negative I think he actually posted a positive.
Capt Caveman
Lifer
- Jan 30, 2005
- 34,543
- 651
- 126
Wanna bet it doesn't? Whoever loses, is banned from posting ever again?
Gotta love how the dumbass ignores 1/2 the article talking about prices either dropping or peaking around $3.75.
I love to see gas at $5-$6. It will hurt me some, but I reckon it will hurt a lot more Americans though. It's time Americans need to have rude awakening. I can still live just fine at $5,$6/gallon. My house won't be repo'd because it's paid off. And I have financial and living contingencies to retire at this point if I wanted to.
Too bad that can't be said of most Americans, whose up to the necks in debts. Come to think of it, Americans and the American nation are both in deep indebtedness. Funny to think that many foreigners still flock to American MBA program so they know how to manage. LOL I guess as long as there are fools in this world.
Too bad that can't be said of most Americans, whose up to the necks in debts. Come to think of it, Americans and the American nation are both in deep indebtedness. Funny to think that many foreigners still flock to American MBA program so they know how to manage. LOL I guess as long as there are fools in this world.
How special is this while his company rakes in record profits
3-9-2011
http://news.yahoo.com/s/ap/20110309...jb3JkaW9uX2J1c2luZXNzBHNsawNleHhvbmNlb3NheXM-
Exxon CEO says oil prices not yet hurting economy
The CEO of Exxon says he doesn't think the recent jump in oil prices is hurting the U.S. economy just yet.
Rex Tillerson, speaking to reporters Wednesday at the New York Stock Exchange, says that in 2008, when oil hit $147 per barrel, American families appeared to change their driving and spending habits when gasoline hit $4 per gallon that June.
The average price for a gallon of gas is now $3.52.
But drivers on the West Coast are paying close to $4.
3-9-2011
http://news.yahoo.com/s/ap/20110309...jb3JkaW9uX2J1c2luZXNzBHNsawNleHhvbmNlb3NheXM-
Exxon CEO says oil prices not yet hurting economy
The CEO of Exxon says he doesn't think the recent jump in oil prices is hurting the U.S. economy just yet.
Rex Tillerson, speaking to reporters Wednesday at the New York Stock Exchange, says that in 2008, when oil hit $147 per barrel, American families appeared to change their driving and spending habits when gasoline hit $4 per gallon that June.
The average price for a gallon of gas is now $3.52.
But drivers on the West Coast are paying close to $4.
Here is a lesson for the idiots on here on the oil overflowing in Oklahoma
3-9-11
http://news.yahoo.com/s/nm/us_usa_o...DeW5faGVhZGxpbmVfbGlzdARzbGsDYW5hbHlzaXN0aGlu
Think $100 U.S. oil is bad? It's really much worse
The cause is an unprecedented disconnect between the most visible price of oil -- crude oil futures contracts on the New York Mercantile Exchange
and the real cost of physical barrels pumped from the Gulf of Mexico, Saudi Arabia and elsewhere.
This gap is caused by oil traders' growing realization that inventories at the small Oklahoma town of Cushing -- the delivery point for the NYMEX contract -- will likely be awash with crude for months to come due to booming production from Canada and shale oil producing states such as North Dakota.
Because the U.S. pipeline system was designed to import oil from the coast to the interior, not vice versa, there's no way to move the extra northern crude to the southern refiners, in places such as Houston and Port Arthur, Texas, which are paying much higher rates for crude from far abroad.
U.S. oil futures, also called West Texas Intermediate (WTI) after a kind of oil produced in Texas, are no longer the reliable yardstick for the world price and a clear signal of demand for high quality oil from the world's biggest consumer that they once were. They have instead become more of an indicator of the degree of oversupply in the heart of the North American continent.
The most visible evidence of this disparity can be seen in the price of ICE Brent crude futures, the European benchmark; it has risen 21 percent this year, while WTI futures have gained only 15 percent. Normally trading at parity to WTI, Brent surged last week to a record premium of $17.
Although that spread has contracted sharply over the past few days, trading on Wednesday at about $10, the correction has brought its own set of problems. On Monday, for example, the two contracts moved sharply in opposite directions, sowing confusion about whether oil costs had gone up or down.
The result is that WTI, the light sweet crude that Americans have long associated with "the" price of oil, has become a dangerously inaccurate indicator.
The few refiners that have access to the cheaper crude oil in the U.S. Midwest are under no obligation to pass on those savings to customers. Instead they are reaping windfall profits because the market price for gasoline and diesel is being set by the more costly crude most refiners have to use.
==========================================
In other words the entire thing is a huge scam right in your faces. Enjoy
3-9-11
http://news.yahoo.com/s/nm/us_usa_o...DeW5faGVhZGxpbmVfbGlzdARzbGsDYW5hbHlzaXN0aGlu
Think $100 U.S. oil is bad? It's really much worse
The cause is an unprecedented disconnect between the most visible price of oil -- crude oil futures contracts on the New York Mercantile Exchange
and the real cost of physical barrels pumped from the Gulf of Mexico, Saudi Arabia and elsewhere.
This gap is caused by oil traders' growing realization that inventories at the small Oklahoma town of Cushing -- the delivery point for the NYMEX contract -- will likely be awash with crude for months to come due to booming production from Canada and shale oil producing states such as North Dakota.
Because the U.S. pipeline system was designed to import oil from the coast to the interior, not vice versa, there's no way to move the extra northern crude to the southern refiners, in places such as Houston and Port Arthur, Texas, which are paying much higher rates for crude from far abroad.
U.S. oil futures, also called West Texas Intermediate (WTI) after a kind of oil produced in Texas, are no longer the reliable yardstick for the world price and a clear signal of demand for high quality oil from the world's biggest consumer that they once were. They have instead become more of an indicator of the degree of oversupply in the heart of the North American continent.
The most visible evidence of this disparity can be seen in the price of ICE Brent crude futures, the European benchmark; it has risen 21 percent this year, while WTI futures have gained only 15 percent. Normally trading at parity to WTI, Brent surged last week to a record premium of $17.
Although that spread has contracted sharply over the past few days, trading on Wednesday at about $10, the correction has brought its own set of problems. On Monday, for example, the two contracts moved sharply in opposite directions, sowing confusion about whether oil costs had gone up or down.
The result is that WTI, the light sweet crude that Americans have long associated with "the" price of oil, has become a dangerously inaccurate indicator.
The few refiners that have access to the cheaper crude oil in the U.S. Midwest are under no obligation to pass on those savings to customers. Instead they are reaping windfall profits because the market price for gasoline and diesel is being set by the more costly crude most refiners have to use.
==========================================
In other words the entire thing is a huge scam right in your faces. Enjoy
- Mar 20, 2000
- 102,402
- 8,572
- 126
economic scarcity and economic shortage aren't the same thing.
economic shortage is a gap between supply and demand, usually because the price is screwed up. that pretty much can't happen in a functioning commodity market. it can happen when there are low volumes or for goods for which there's no close substitute and the company got the price wrong.
economic scarcity is a fact of life.
i'm pretty positive the prices are high due to speculation and market manipulation. same shit as a few years ago, except now they have an even better excuse.
Doppel
Lifer
- Feb 5, 2011
- 13,306
- 3
- 0
http://www.reuters.com/article/2011/03/09/us-usa-gasoline-price-idUSTRE7286IO20110309
"U.S. drivers will pay another 10 cents a gallon for gasoline before the latest jump in wholesale costs is fully passed on at the pump"
This projects that average US household will pay $700.
"U.S. drivers will pay another 10 cents a gallon for gasoline before the latest jump in wholesale costs is fully passed on at the pump"
This projects that average US household will pay $700.
btw why are we still debating the Canadian/Texas pipeline? it should be obvious by now that we need it. oh well fuck those idiot hippies.
- Oct 30, 2004
- 11,442
- 32
- 91
Call it what you will, but A is A and a thing is what it is. The free market won't magically prevent a "shortage" in terms of people's being able to obtain the resources they need. Ideally, scientists will invent alternatives to those resources, but we can't count on that.
K1052
Elite Member
- Aug 21, 2003
- 52,550
- 46,140
- 136
Keystone XL wouldn't come online until at least 2013 if it had approval today. Which does nothing to insulate the US from short term price spikes brought on by unrest in the ME and rampant international speculation.
Getting away from oil as our major transportation fuel is really the only way to break this cycle.
Londo_Jowo
Lifer
He's not going to step end as he wants to implement his green policies. You will required to buy an electric car in 5 years whether you want one or not.
Also the huge tax revenues from Managed Futures, the Exchanges, Hedge Funds, Capital gains etc that are paid make it default to legislate away.
We're going to need oil regardless if it's a major transportation fuel or not. Having that pipeline would still be beneficial in 2013, so lets do it. Oil is still going to be used in two years.
Originally Posted by Londo_Jowo 
He's not going to step end as he wants to implement his green policies. You will required to buy an electric car in 5 years whether you want one or not.
Hedge Funds have been castrated rightfully so by the SEC.
He is right though for the big cities.
GE has been given no bid contract to wire every big city with Electric filling station chargers.
Not sure how they expect your average peon to afford this.
I suspect it will just be the people that work in the skeletal parts of the fake U.S. companies in the Metropolitan areas. Those that are slightly better paid than group that was formerly called Yuppies.
He's not going to step end as he wants to implement his green policies. You will required to buy an electric car in 5 years whether you want one or not.
Hedge Funds have been castrated rightfully so by the SEC.
He is right though for the big cities.
GE has been given no bid contract to wire every big city with Electric filling station chargers.
Not sure how they expect your average peon to afford this.
I suspect it will just be the people that work in the skeletal parts of the fake U.S. companies in the Metropolitan areas. Those that are slightly better paid than group that was formerly called Yuppies.
Originally Posted by Londo_Jowo
He's not going to step end as he wants to implement his green policies. You will required to buy an electric car in 5 years whether you want one or not.
Hedge Funds have been castrated rightfully so by the SEC.
He is right though for the big cities.
GE has been given no bid contract to wire every big city with Electric filling station chargers.
Not sure how they expect your average peon to afford this.
I suspect it will just be the people that work in the skeletal parts of the fake U.S. companies in the Metropolitan areas. Those that are slightly better paid than group that was formerly called Yuppies.
Hedge funds have not been castrated whatsoever, even if you are one of the funds bigger than $150MM there are already ways to skirt the legislation. i.e. RIA/Family Office/Seperate accounts.
Last edited:
K1052
Elite Member
- Aug 21, 2003
- 52,550
- 46,140
- 136
Domestic supplies are more than adequate to keep up with all industrial needs for oil outside transportation fuel for the foreseeable future. Decoupling our transportation systems from petroleum would eliminate our need for imported oil, help close trade deficits, and greatly contribute to our overall stability since we would no longer be dependent on a traded commodity largely possessed by unstable nations.
bamacre
Lifer
- Jul 1, 2004
- 21,029
- 2
- 81
Canada is our largest oil supplier, by increasing our flow from Canada we can cut what we get from other countries. Now I don't know about you, but I'd much rather deal with Canada than I would most of the other oil producing countries we do business with. In 2 years we will still need oil, almost as much as we do today.
Don't get me wrong I am all for other methods of energy generation, but we need foreign resources for batteries as well.
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