Oil May Fall Below $25 Next Year, Merrill Lynch Says

[Capt Caveman]

So, Dave can you explain in your own words why oil/gas have dropped in price when you've been predicting that oil was going to be $200 after the election and before the end of the year? Where's the 110% greed?

Originally posted by: dmcowen674

Originally posted by: K3N

Originally posted by: Capt Caveman

Originally posted by: dmcowen674
and still have apologists like the caveman above at it.

It will be sweet to see things get so bad they want to leave the country.

One of the bright spots of their destruction of the country by them will be to see them leave.

Leave the country? Why? You're the one against the government and capitalism. When are you leaving?

Still haven't answered my question on why oil and gas have dropped in price. I love how it's not even possible to have an educated discussion with the the most educated Amercian on the Internet. :laugh:

I explain it all in this thread
http://forums.anandtech.com/me...id=52&threadid=2253100

You're not allowed to post the truth.

:laugh: From that thread:

Originally posted by: dmcowen674

Originally posted by: Capt Caveman
Did God tell him this?

And the most educated American on the Internet predicted $200 oil by the end of the year.

I didn't say by the end of this year but gas did go up 10 cents today now that Thanksgiving and black friday is over.

Expect it back over $4 in no time.

And from another thread:

Originally posted by: dmcowen674

Originally posted by: Capt Caveman

Originally posted by: dmcowen674

Originally posted by: Capt Caveman

Mods - please lock this thread!

I've asked for clarification if you and Skoorb have purchased this site.

Can you not comprehend the line? We're asking the mods. If we own'd this site, you would have been banned long ago.

What happened to your $10 gas after the election and before the end of the year?

Never said that which is why I have asked if you now own the site.

Originally posted by: dmcowen674

Originally posted by: murphy55d
How much do you guys see gas going up on Nov 4? If at all?

It was 2.45 in central PAas of 6:30PM today, BTW.

The criminal excuses are already kicking in.

Expect $200 oil $10 gas and of course it will all be the Democrats fault.


11-2-2008 Oil Rises for a Second Day as Interest Rate Cuts to Spur Growth

Crude oil rose for a second day in New York on signs fuel demand will increase after the U.S., India and China cut interest rates to prop up economic growth and amid speculation OPEC will cut output for a second by year end.

Oil climbed 5.7 percent last week in the first gain in five weeks.

Production in Russia, the world's second-largest exporter, dropped for a 10th month in October as output from older fields declined faster than new wells were added, the nation's Energy Ministry said yesterday.

Iranian sales to Total SA, Europe's third-largest oil company, will fall by 70,000 barrels a day in line with cuts agreed by the Organization of Petroleum Exporting Countries last month, Oil Minister Gholamhossein Nozari said yesterday.

Originally posted by: Firebot

Originally posted by: dmcowen674
Next stop $200

9-17-2008 Oil prices surge as AIG bailout prompts rush to commodities

Crude oil prices surged Wednesday after the US government's lifeline to insurance giant AIG failed to reassure skittish traders and prompted a rush into commodities as a haven from the financial market storm.

"This is evident in an unprecedented flight to quality. Investor concern is also growing about the Fed's ability to support markets in the future as the central bank's own balance sheet is reduced."

Originally posted by: dmcowen674
I should add a poll of will oil hit $200 by end of this year?

9-19-2008 Oil prices rise past $100 a barrel

Light, sweet crude for October delivery rose $2.64 to $100.52 a barrel in early trading on the New York Mercantile Exchange after earlier rising as high as $103.64.

Crude has climbed about $10 in past three days

Edit: It finished up $6 in one day, up $13 in three days

9-19-2008 Oil jumps $6 to $104 a barrel on bank bailout plan

Light, sweet crude for October delivery rose $6.67 to settle at $104.55 a barrel on the New York Mercantile Exchange, after earlier rising as high as $105.25.

In other Nymex trading, heating oil futures rose 11.54 cents to settle at $2.8978 a gallon, while gasoline prices gained 11.73 cents to settle at $2.5997 a gallon.

Originally posted by: dmcowen674

Originally posted by: StarsFan4Life
Oil up over $25 today alone:

Like I said, next stop $200

9-22-2008Oil spikes $25 a barrel

NEW YORK - Oil prices spiked more than $25 a barrel Monday
? the biggest one-day price jump ever

The rally, which shattered crude's previous one-day price jump of $10.75, set June 6

In other trading, gold prices shot up more than $44.30 to settle at $909 an ounce, and other safe-haven commodities also rallied, underscoring investors' uncertainly about the direction of the economy and their fear of more turmoil ahead.

"We're off to the races again," said Jim Ritterbusch, president of energy consultancy Ritterbusch and Associates in Galena, Ill. "There's a renewed scramble for commodities because of a general weakness in the dollar."

Crude has gained about $30 in a dramatic four-day rally

At this rate, crude is within striking distance of its all-time record of $147.27, reached in July.

Looks very much like Dave was predicting gas in his posts here of 200$ very likely by the end of the year. Now that it went completely the other way he's backtracking.

 

[dmcowen674]

Next stop $200, $10 gas

What's your point?

 

[Regs]

Cavemen and dmcowen are both right. Supply and Demand, mingled with greed and speculation.

Investment firms taking bids on oil while demand was speculated to be high. Investment firms sold oil as commodity at a higher price while never taking delivery in the first place. Thus inflating the price of oil. Regulators couldn't keep track because they're too focused on insider-trading and every investment firm, bank, or hedge fund was busy finding new ways to get passed the regulators so they can keep the competitive edge. Speculators then predicting a global recession stating the demand for crude oil will drop. Then every investment firm on wall street dropped it like a bad habit. The bubble burst and the shot heard round the world.

Did the oil companies make a killing? Sure they did. How easy it is to throw a rib bone down to a pack of wolves and watch them fight over it.

 

[dmcowen674]

Originally posted by: Regs
Cavemen and dmcowen are both right. Supply and Demand, mingled with greed and speculation.

Investment firms taking bids on oil while demand was speculated to be high. Investment firms sold oil as commodity at a higher price while never taking delivery in the first place. Thus inflating the price of oil. Regulators couldn't keep track because they're too focused on insider-trading and every investment firm, bank, or hedge fund was busy finding new ways to get passed the regulators so they can keep the competitive edge. Speculators then predicting a global recession stating the demand for crude oil will drop. Then every investment firm on wall street dropped it like a bad habit. The bubble burst and the shot heard round the world.

Did the oil companies make a killing? Sure they did. How easy it is to throw a rib bone down to a pack of wolves and watch them fight over it.

You do realize every bit of it is pre-planned right?

 

[Regs]

Originally posted by: dmcowen674

You do realize every bit of it is pre-planned right?

What do you mean by planning? Refineries drying up and less facilities to support demand?

Here's a good article to look into:
$2.79 out of the $2.90 of every gallon of gas sold is actually a expense of the oil company.

http://www.americanthinker.com...s_from_npr_no_oil.html

Interesting to think about at least.

 

[Capt Caveman]

Originally posted by: Regs
Cavemen and dmcowen are both right. Supply and Demand, mingled with greed and speculation.

Incorrect, I have always stated that it's been a mix of supply/demand, speculation and political/gov't issues. Dave believes that it's 110% greed only.

 

[dmcowen674]

Originally posted by: Regs

Originally posted by: dmcowen674

You do realize every bit of it is pre-planned right?

What do you mean by planning?

Refineries drying up and less facilities to support demand?

What the hell are you talking about?

The refineries were expanded and cut back all on purpose.

Look in my oil thread, it;s all there in black and white.

Better yet visit the refinery sites around the country and see for yourself.

 

[LegendKiller]

Originally posted by: Capt Caveman

Originally posted by: Regs
Cavemen and dmcowen are both right. Supply and Demand, mingled with greed and speculation.

Incorrect, I have always stated that it's been a mix of supply/demand, speculation and political/gov't issues. Dave believe that it's 110% greed only.

No, with dave, it's 110% retard only.

Dave, I just bought a gallon of milk in Greenwich for $2.29.

 

[StageLeft]

Originally posted by: dmcowen674

Originally posted by: Regs

Originally posted by: dmcowen674

You do realize every bit of it is pre-planned right?

What do you mean by planning?

Refineries drying up and less facilities to support demand?

What the hell are you talking about?

The refineries were expanded and cut back all on purpose.

Look in my oil thread, it;s all there in black and white.

Better yet visit the refinery sites around the country and see for yourself.

Hot damn you're an idiot. Word!

 

[Regs]

Originally posted by: dmcowen674


What the hell are you talking about?

The refineries were expanded and cut back all on purpose.

Look in my oil thread, it;s all there in black and white.

Better yet visit the refinery sites around the country and see for yourself.

Stop being defensive, im not trying to make you out as wrong and yes I know all about it. Matter of fact, I agree with most of your stances on many subjects, because like you I think it's time to bite the master's hands that feed us. We need to create more competition and create more jobs, however the road there is where all of our differences reside. This is true bipartisan politics; finding the best possible route to a definitive resolve. Bipartisan is not the discussion of capitalism vs. liberalism.

The refineries were expanded and cut back all on purpose.

Well yes. Then explain why there is a surplus now in gasoline storage? Don't blame the refineries, blame the middle men .

 

[dmcowen674]

Originally posted by: Regs

Originally posted by: dmcowen674


What the hell are you talking about?

The refineries were expanded and cut back all on purpose.

Look in my oil thread, it;s all there in black and white.

Better yet visit the refinery sites around the country and see for yourself.

Stop being defensive, im not trying to make you out as wrong and yes I know all about it. Matter of fact, I agree with most of your stances on many subjects, because like you I think it's time to bite the master's hands that feed us. We need to create more competition and create more jobs, however the road there is where all of our differences reside. This is true bipartisan politics; finding the best possible route to a definitive resolve. Bipartisan is not the discussion of capitalism vs. liberalism.

The refineries were expanded and cut back all on purpose.

Well yes. Then explain why there is a surplus now in gasoline storage? Don't blame the refineries, blame the middle men .

No problem, sorry, you got caught up with the two anonymous cowards on here.

 

[AFMatt]

Originally posted by: Capt Caveman

Originally posted by: Regs
Cavemen and dmcowen are both right. Supply and Demand, mingled with greed and speculation.

Incorrect, I have always stated that it's been a mix of supply/demand, speculation and political/gov't issues. Dave believes that it's 110% greed only.

I'm not quite sure calling it a "mix" is even accurate. There is absolutely no data to support such a short supply or huge increase in demand that would justify prices to triple over the 12 months before this decline started, and there is also no data to support such a huge decrease in demand over the past 3 months that we see it drop $100.
They made their buck, then pulled the heck out as soon as fear of a mass energy crisis hit the airwaves.