Oil & Gas thread:12-17-08 OPEC & non-members agree to largest reduction in history 7 percent

[dmcowen674]

Originally posted by: Skoorb

Originally posted by: Thump553
In an extremely interesting development, Goldman Sachs has just restated their earlier project that oil will be at $149 by the end of the year. They certainly seem to be swimming against the tide.

Goldman Sachs-oil to $149 by end of year-reaffirmed opinion

In the past their statements have had a resultant raise in prices. And they may now. But I believe that P&N has trained me better than GS and that they are wrong on this.

I believe that, barring any unforseen wars or similar, oil will fall below what it's at now and close lower.

It's not finished. China is now talking of a stimulus package for their country and some sources indicate that they'll cut oil consumption once the Olympics are done (to some unknown impact). As the economy globally and certainly in the US continues to implode, oil cannot hold itself up.

That's my professional analysis. I have an MBA from a bunch of universities :0

Wow, how do you and LK keep your jobs being so wrong all the time?

8-20-2008 Oil prices rebound even as crude inventories jump

NEW YORK - The price of oil bounced back near $115 a barrel on Wednesday, as traders shrugged off a massive increase in U.S. crude inventories and a stronger dollar and focused on possible supply threats.

imports drove crude inventories up by a hefty 9.4 million barrels in the week ended Aug. 15.

The figure came in much higher than the average analyst forecast for a 1.7 million-barrel increase

The fact that oil prices lifted in the face of a large rise in crude inventories and another rebound in the U.S. dollar was significant, said James Cordier, president of Tampa, Fla.-based trading firms Liberty Trading Group and OptionSellers.com.

"We had two of the most bearish factors thrown at oil today, and we're closing moderately higher," Cordier said, adding that it indicates that oil's recent selloff might be over. "We're seeing supply concerns go back into the price of a barrel of oil."

Goldman Sachs analysts on Wednesday pointed out that while the dollar and oil have been correlating recently, there are other factors that affect the price of oil besides the dollar.

"We reiterate that fundamentals in the oil market suggest a return to a rising oil price environment," wrote Goldman analyst Giovanni Serio.

There are thunderstorms in the eastern Atlantic that some traders are betting will develop into tropical storms.

 

[StageLeft]

Originally posted by: dmcowen674
Wow, how do you and LK keep your jobs being so wrong all the time?

How do you keep losing yours when you're so right all the time?

 

[LegendKiller]

Originally posted by: Skoorb

Originally posted by: dmcowen674
Wow, how do you and LK keep your jobs being so wrong all the time?

How do you keep losing yours when you're so right all the time?

I was going to ask the same thing.

 

[jpeyton]

"We reiterate that fundamentals in the oil market suggest a return to a rising oil price environment," wrote Goldman analyst Giovanni Serio.

Apparently they've abandoned the fundamental of "inventories" and replaced it with the fundamental of "record breaking profits".

 

[StageLeft]

Originally posted by: jpeyton

"We reiterate that fundamentals in the oil market suggest a return to a rising oil price environment," wrote Goldman analyst Giovanni Serio.

Apparently they've abandoned the fundamental of "inventories" and replaced it with the fundamental of "record breaking profits".

Actually, speculation is now a prime fundamental in commodities That's what they mean!

 

[dmcowen674]

Originally posted by: Skoorb

Originally posted by: dmcowen674
Wow, how do you and LK keep your jobs being so wrong all the time?

How do you keep losing yours when you're so right all the time?

Because I am not rich

 

[LegendKiller]

Originally posted by: dmcowen674

Originally posted by: Skoorb

Originally posted by: dmcowen674
Wow, how do you and LK keep your jobs being so wrong all the time?

How do you keep losing yours when you're so right all the time?

Because I am not rich

Yeah, because keeping your job has so much to do with being "rich". Please, you're wrong 99% of the time and lose your job constantly.

 

[StageLeft]

Originally posted by: dmcowen674

Originally posted by: Skoorb

Originally posted by: dmcowen674
Wow, how do you and LK keep your jobs being so wrong all the time?

How do you keep losing yours when you're so right all the time?

Because I am not rich

That doesn't make any sense.

 

[dmcowen674]

Originally posted by: LegendKiller

Originally posted by: dmcowen674

Originally posted by: Skoorb

Originally posted by: dmcowen674
Wow, how do you and LK keep your jobs being so wrong all the time?

How do you keep losing yours when you're so right all the time?

Because I am not rich

Yeah, because keeping your job has so much to do with being "rich".

Please, you're wrong 99% of the time and lose your job constantly.

You have data/proof to back up your claim?

 

[StageLeft]

Originally posted by: dmcowen674

Originally posted by: LegendKiller

Originally posted by: dmcowen674

Originally posted by: Skoorb

Originally posted by: dmcowen674
Wow, how do you and LK keep your jobs being so wrong all the time?

How do you keep losing yours when you're so right all the time?

Because I am not rich

Yeah, because keeping your job has so much to do with being "rich".

Please, you're wrong 99% of the time and lose your job constantly.

You have data/proof to back up your claim?

Data means nothing to you unless it supports your insane rhetoric, which it rarely does. I'm being dead serious: Next time you have some medical insurance, think about consultling a counsellor.

 

[JohnCU]

llol this thread is hilarious, people calling up dave's gas station to prove he's lying, :thumbsup:!

 

[dmcowen674]

While the empty shirts on here continue to attack me the OP, the strategy of big oil to stop refining on purpose to prop up prices is working.

I've noted how the refineries here have been idle for nearly 3 months now and they let the tanks drop.


8-21-2008 Oil rises on falling US gasoline supplies

Oil prices rose Thursday above $116 a barrel as investors considered a fall in U.S. gasoline inventories and a possible output tightening by OPEC at its next meeting in September.

Investors are also trying to anticipate the outcome of the next Organization of Petroleum Exporting Countries meeting in early September, as supply concerns could rise further if members of the cartel decide to lower their output in response to slower demand.

 

[LegendKiller]

Originally posted by: JohnCU
llol this thread is hilarious, people calling up dave's gas station to prove he's lying, :thumbsup:!

I had an extra 20min to burn. why not?

 

[LegendKiller]

Originally posted by: dmcowen674
While the empty shirts on here continue to attack me the OP, the strategy of big oil to stop refining on purpose to prop up prices is working.

I've noted how the refineries here have been idle for nearly 3 months now and they let the tanks drop.
.

Ohh, so now you know how full tanks are? How do you know that? Refinery idle? Proof?

Data dave, data.


As far as your post above, it's easy to prove that 99% of your posts are lies, just do a search for dmcowen674, narrow it down to P&N, then search. all of the results back up my claim.

 

[StageLeft]

Originally posted by: dmcowen674
While the empty shirts on here continue to attack me the OP, the strategy of big oil to stop refining on purpose to prop up prices is working.

I've noted how the refineries here have been idle for nearly 3 months now and they let the tanks drop.


8-21-2008 Oil rises on falling US gasoline supplies

Oil prices rose Thursday above $116 a barrel as investors considered a fall in U.S. gasoline inventories and a possible output tightening by OPEC at its next meeting in September.

Investors are also trying to anticipate the outcome of the next Organization of Petroleum Exporting Countries meeting in early September, as supply concerns could rise further if members of the cartel decide to lower their output in response to slower demand.

It's all a conspiracy to screw you out of your hard-earned unemployment checks isn't it, Dave? Did it occur that perhaps refineries are holding less gas because demand for it is down? Maybe that's just an itsy bitsy piece of the pie, or is that completely incomprehensible?

 

[dmcowen674]

It's all "incomprehensible"

8-21-2008 Oil rises on US-Russia tensions, sliding dollar

Oil prices jumped above $119 Thursday as rising antagonism with Russia underscored the possibility it could affect energy shipments from the world's second-largest oil producer.

The weakening U.S. dollar, a fall in U.S. gasoline inventories and a possible output tightening by OPEC at its next meeting in September all helped push prices higher.

 

[StageLeft]

Gas prices continued their month-long slide Thursday, bringing the total decline in 35 straight days of decline

In other news, prices at gas stations in Morristown, NJ shot up another $.40 last night and are now up to an average of $11.50/gallon.

 

[Pliablemoose]

Originally posted by: Skoorb
Gas prices continued their month-long slide Thursday, bringing the total decline in 35 straight days of decline

In other news, prices at gas stations in Morristown, NJ shot up another $.40 last night and are now up to an average of $11.50/gallon.

Damn you, gas is $25/gallon here.

Of course, I'm a shill for the oil & gas industry, and I'm rich.

 

[JohnCU]

Originally posted by: Skoorb
Gas prices continued their month-long slide Thursday, bringing the total decline in 35 straight days of decline

In other news, prices at gas stations in Morristown, NJ shot up another $.40 last night and are now up to an average of $11.50/gallon.

they have an RFID tag on dave and automatically increase gas prices by 5 dollars when he's within range.

 

[dmcowen674]

$121 and climbing

What was that about a bubble?

Oh that's right, it's the sound of AT egos popping

8-21-2008Oil jumps $6 on US-Russia tensions, sliding dollar

NEW YORK - Oil prices shot up $6 a barrel Thursday, rising to the highest level in over two weeks as escalating tensions with Russia stoked fears of a disruption of energy shipments to Western countries.

"This is probably about it in terms of a retail gas drop. We may be a few cents away from the August bottom," said Tom Kloza, publisher and chief analyst at the Oil Price Information Service in Wall, N.J.

 

[Darwin333]

Originally posted by: dmcowen674
It's all "incomprehensible"

8-21-2008 Oil rises on US-Russia tensions, sliding dollar

Oil prices jumped above $119 Thursday as rising antagonism with Russia underscored the possibility it could affect energy shipments from the world's second-largest oil producer.

The weakening U.S. dollar, a fall in U.S. gasoline inventories and a possible output tightening by OPEC at its next meeting in September all helped push prices higher.

Seriously? Out of the 3 reasons they gave you are blaming the bulk of the problem on refineries not keeping as much supply (probably because demand is down)???

OPEC possibly tightening output? Naw can't be it.

The entire Russia issue? No way

Refineries keeping less gas on hand as demand is going down? OMFG YOU DIRTY BASTARDS ARE MAKING MY GAS PRICE GO UP!!!

 

[StageLeft]

Originally posted by: Darwin333

Originally posted by: dmcowen674
It's all "incomprehensible"

8-21-2008 Oil rises on US-Russia tensions, sliding dollar

Oil prices jumped above $119 Thursday as rising antagonism with Russia underscored the possibility it could affect energy shipments from the world's second-largest oil producer.

The weakening U.S. dollar, a fall in U.S. gasoline inventories and a possible output tightening by OPEC at its next meeting in September all helped push prices higher.

Seriously? Out of the 3 reasons they gave you are blaming the bulk of the problem on refineries not keeping as much supply (probably because demand is down)???

OPEC possibly tightening output? Naw can't be it.

The entire Russia issue? No way

Refineries keeping less gas on hand as demand is going down? OMFG YOU DIRTY BASTARDS ARE MAKING MY GAS PRICE GO UP!!!

You, as a paid oil-shill and a rich elitist cannot possibly understand the average American. Why do you hate America so much? Don't you yet understand that this is all a huge conspiracy?

$121 and climbing

What was that about a bubble?

Oh that's right, it's the sound of AT egos popping

Sad. We try to teach and you are so unwilling to learn.

 

[dmcowen674]

Originally posted by: Darwin333

Originally posted by: dmcowen674
It's all "incomprehensible"

8-21-2008 Oil rises on US-Russia tensions, sliding dollar

Oil prices jumped above $119 Thursday as rising antagonism with Russia underscored the possibility it could affect energy shipments from the world's second-largest oil producer.

The weakening U.S. dollar, a fall in U.S. gasoline inventories and a possible output tightening by OPEC at its next meeting in September all helped push prices higher.

Seriously? Out of the 3 reasons they gave you are blaming the bulk of the problem on refineries not keeping as much supply (probably because demand is down)???

OPEC possibly tightening output? Naw can't be it.

The entire Russia issue? No way

Refineries keeping less gas on hand as demand is going down? OMFG YOU DIRTY BASTARDS ARE MAKING MY GAS PRICE GO UP!!!

Originally posted by: Skoorb

Originally posted by: Darwin333

Originally posted by: dmcowen674
It's all "incomprehensible"

8-21-2008 Oil rises on US-Russia tensions, sliding dollar

Oil prices jumped above $119 Thursday as rising antagonism with Russia underscored the possibility it could affect energy shipments from the world's second-largest oil producer.

The weakening U.S. dollar, a fall in U.S. gasoline inventories and a possible output tightening by OPEC at its next meeting in September all helped push prices higher.

Seriously? Out of the 3 reasons they gave you are blaming the bulk of the problem on refineries not keeping as much supply (probably because demand is down)???

OPEC possibly tightening output? Naw can't be it.

The entire Russia issue? No way

Refineries keeping less gas on hand as demand is going down? OMFG YOU DIRTY BASTARDS ARE MAKING MY GAS PRICE GO UP!!!

You, as a paid oil-shill and a rich elitist cannot possibly understand the average American. Why do you hate America so much? Don't you yet understand that this is all a huge conspiracy?

$121 and climbing

What was that about a bubble?

Oh that's right, it's the sound of AT egos popping

Sad. We try to teach and you are so unwilling to learn.

Teach me what? How to bend over?

 

[Thump553]

dave: The fact that oil is climbing again doesn't disprove the speculative bubble aspect. in mid-July Wall Street supposedly entered a bull phase, with money shifting out of oil (and related stocks) back into financial stocks, among others. The rationale was that demand reduction was reducing oil prices, and newly recognized recessions in Europe and Japan were causing the dollar to be stronger relatively (kind of a smoke and mirrors thing, the other guys were dropping faster than us, not that we were rising). For roughly a month the market greatly downplayed any bad news on oil, and the prices fell.

Well a bunch of financial institutions have turned in their quarterly reports since then, and they are almost universally dreadful (still). Also, the general corporate world's quarterly reports generally reported lower than expected earnings. Fast forward to today, when the Russian invasion of Georgia hasan indisputably huge impact on the control of oil, Freddie Mac and Fannie Mae stocks are rapidlly approaching zero in value, etc., etc. The money is flowing back into oil, oil related firms and commodities.

Short version: By doing a short-lived sector rotation, the hedge funds and other specualtors looted the financials for as much as they could and are now returning to their old playing field.

I personally still believe that there is a screaming need for EFFECTIVE regulation of speculation in commodities and oil.

 

[StageLeft]

Originally posted by: dmcowen674
Teach me what? How to bend over?

How to see the world in the proper light; how to have a better attitude, how to succeed in life and feel empowered instead of a victim, a habitual malcontent, blame-somebody-else, why-can't-I-get-ahead person who is frustrated at every corner by expecting different results from the same incorrect actions. If even 1/10th of the bitterness and rage you feel inside seeps out when you interface with people professionally, it would explain some of your prior history.