Oil thread 9-7-06:Former BP head of Pipeline invokes 5th

[LegendKiller]

Originally posted by: dmcowen674
Ah yes, there is tons of proof of collusion.

Not just amongst the Oil thugs themselves but their buddy Politicians as well.

Look at how many States forbid sales less than 3% of wholesale for example.

Legal Price fixing.

Is there now? Where is your proof that the millions of contracts bought and sold on the futures market show any type of collusion. Furthermore, show evidence that the supplies are being withheld by anybody but OPEC.

Ohh, and as far as your continual FUDD about gas...

http://www.bloomberg.com/apps/news?pid=20601103&sid=akX8MKmYILd0&refer=news

Funny, gas reserves are lower than last year, gas prices are higher. I am sure somebody like you will say "But...but...but...it's not linear" well geez dave, it's hard to find a perfectly linear supply/demand function.

Supplies of a derivative are lower, driving prices higher. Supplies of the good that produces the derivative are in higher demand, pushing prices higher. Furthermore, risk is higher, such as further disruptions, thus a good that could be scarce in 3 months is more highly sought after, driving prices higher still.

 

[dmcowen674]

Originally posted by: LegendKiller

Originally posted by: dmcowen674
Ah yes, there is tons of proof of collusion.

Not just amongst the Oil thugs themselves but their buddy Politicians as well.

Look at how many States forbid sales less than 3% of wholesale for example.

Legal Price fixing.

Is there now? Where is your proof that the millions of contracts bought and sold on the futures market show any type of collusion.

Furthermore, show evidence that the supplies are being withheld by anybody but OPEC.

Oil inventories are still "lush" as they call it yet, Citgo just stopped selling to the U.S.

They prefer to deal with China.

Enjoy

 

[dmcowen674]

7-13-2006 Oil climbs to record heights $80 on beginning of WWIII

Oil prices hit a new high above $76 a barrel Thursday in a market agitated by escalating violence in the Middle East, the standoff with Iran over its nuclear program and news of explosions on Nigerian pipelines.

Israeli warplanes blasted runways at the main army air base in eastern Lebanon near Syria's border Thursday, police said, an attack that could draw the Lebanese army into Israel's war with Hezbollah guerrillas.

"With little prospect of any good news on Nigeria, Iran and global demand any time soon, the risks remain on the upside and the prospect of a move to, and through, $80 per barrel must be very real, very soon," said Paul J. Harris, head of energy and emissions at Bank of Ireland Global Markets in Dublin, Ireland.

 

[K1052]

Originally posted by: dmcowen674

Originally posted by: LegendKiller

Originally posted by: dmcowen674
Ah yes, there is tons of proof of collusion.

Not just amongst the Oil thugs themselves but their buddy Politicians as well.

Look at how many States forbid sales less than 3% of wholesale for example.

Legal Price fixing.

Is there now? Where is your proof that the millions of contracts bought and sold on the futures market show any type of collusion.

Furthermore, show evidence that the supplies are being withheld by anybody but OPEC.

Oil inventories are still "lush" as they call it yet, Citgo just stopped selling to the U.S.

They prefer to deal with China.

Enjoy

Could you be any more wrong?

Citgo is killing their retail outlets and distribution chain. They are going to reduce their costs by selling their refinery output directly to other distributors. The oil still comes to the US and the refined product still ends up on the US market, just not under the Citgo name.

 

[conjur]

Dave's been pretty on-the-money re: oil/gas prices for over a year. When I met him last year in NOLA and he was saying gas would be $3/gallon nationwide by next year, well, guess what....


Anyway, another record high close for oil:

AUGUST CRUDE HITS A RECORD $76.85/BRL IN NY, UP $1.90

 

[tommywishbone]

And as one would imagine, the market is in a semi-freefall.

 

[conjur]

http://www.marketwatch.com/News/Story/Story.aspx?column=Futures+Movers&siteid=

On Thursday evening, crude for August delivery climbed as high as $78.19 a barrel in electronic trading.

 

[kevinthenerd]

Originally posted by: GoPackGo
Since 9/11 we have been running on a fear based economy.

YES.

 

[kevinthenerd]

Originally posted by: Mursilis

Originally posted by: dmcowen674
These thugs can make whatever "futures" price they feel like because they have a "captive" audience.

Everyone has to pay whatever price they set because WE HAVE NO CHOICE.

Their game would only be hurt when enough low life people can no longer afford to play their game of Monopoly.

NO CHOICE?!?! Please. We can choose to stop buying bloated, inefficient SUV's. We can choose to stop being so lazy and walk or bike more. We can do lots of things to reduce our dependence on oil, but so far, we've been reluctant to do so. The American public only has itself to blame for this current mess.

I drive an econobox, and I'm still hurting badly from oil prices. I can choose not to use a car, but it would put me at such a disadvantage in so many areas that, while I do indeed have a choice, it's a choice made tougher by rich oil people. I'm trying to build a motorbike out of a bicycle and a weed eater, but between a job and engineering classes, I don't have time to complete it these days, and once I do, the extra time to get places is going to hurt me as well. I'll have to figure out how to tweak the carburetor to reliably run home-brewed and home-distilled alcohol if I'm going to truly break away from them, but they know that it's hard for people like me, and they take advantage of that. Luck has given them control of the world, and they don't mind abusing it.

 

[kevinthenerd]

Originally posted by: LegendKiller

Originally posted by: dmcowen674
Oh really? You can start up an Oil/Gas Company and compete with Exxon & BP?

I'd like to see this.

Barriers to entry are high, considering you need to have a lot of capital, but it isn't impossible.

Funny how you consider Exxon & BP a monopoly. Considering the fact that you are even getting your terms wrong, I don't see why anybody should listen to you. It's an *OLIGOPOLY*. Furthermore, it's only that assuming there is collusion and no end-runs around the production caps (which there almost always are).

Furthermore, these companies use the futures/forward market as much as anybody else, so they get trapped or helped by it also.

But then again, I wouldn't expect you to know that, since your primary source of FUDD are newsies who know nothing.

Whether it's an oligopoly or a monopoly, the end consumer still feels the same effects. An oligopoly is much harder to fight with governmental power because you have the burden of proving that they're really trying to help eachother to hike prices. You get all this "supply and demand" crap and all this "there's a storm coming" and "there's a war over there" to justify prices in the public eye to prevent poor public opinion of them, but in the end, it's still just a hard market to enter for the little guy who wants to even the score.

 

[Mill]

Prices

 

[dmcowen674]

Originally posted by: Mill
Prices

"This article is premium content. In order to gain access to it Login".

At least post free Propaganda. :roll:

 

[MadRat]

No need to post free content. He's posted legitimate proof. Not all proof is free.

 

[Mill]

Originally posted by: dmcowen674

Originally posted by: Mill
Prices

"This article is premium content. In order to gain access to it Login".

At least post free Propaganda. :roll:

Try this instead.

Dave, you are the biggest moron on the planet. I'm posting Commodity prices to show how bad inflation is across the board. Jesus Christ you are a paranoid fool.

 

[dmcowen674]

Originally posted by: Mill

Originally posted by: dmcowen674

Originally posted by: Mill
Prices

"This article is premium content. In order to gain access to it Login".

At least post free Propaganda. :roll:

Try this instead.

Dave, you are the biggest moron on the planet. I'm posting Commodity prices to show how bad inflation is across the board. Jesus Christ you are a paranoid fool.

Thank you, I'm honored to take the number one spot on the planet.

How can inflation be so bad if the Economy is booming so well?

 

[dmcowen674]

Originally posted by: Mill

Originally posted by: dmcowen674

Originally posted by: Mill
Prices

"This article is premium content. In order to gain access to it Login".

At least post free Propaganda. :roll:

Try this instead.

Dave, you are the biggest moron on the planet. I'm posting Commodity prices to show how bad inflation is across the board. Jesus Christ you are a paranoid fool.

The Australians must be Morons along with me eh?

7-10-2006 Peak Oil

Australian Broadcasting Corporation Web Resouces on the Oil issue

 

[LegendKiller]

Originally posted by: dmcowen674

Originally posted by: Mill

Originally posted by: dmcowen674

Originally posted by: Mill
Prices

"This article is premium content. In order to gain access to it Login".

At least post free Propaganda. :roll:

Try this instead.

Dave, you are the biggest moron on the planet. I'm posting Commodity prices to show how bad inflation is across the board. Jesus Christ you are a paranoid fool.

Thank you, I'm honored to take the number one spot on the planet.

How can inflation be so bad if the Economy is booming so well?

Dave, did you even take basic economics before you flunked out of middle school?

Good economies cause inflation you tool. Thats the whole reason why the Fed tightens money supply to fight inflation.

As far as "Peak Oil". It's a joke intended to get people like you all frothy. Production matches the economics of supply.

 

[dmcowen674]

Originally posted by: LegendKiller

Originally posted by: dmcowen674

Originally posted by: Mill

Originally posted by: dmcowen674

Originally posted by: Mill
Prices

"This article is premium content. In order to gain access to it Login".

At least post free Propaganda. :roll:

Try this instead.

Dave, you are the biggest moron on the planet. I'm posting Commodity prices to show how bad inflation is across the board. Jesus Christ you are a paranoid fool.

Thank you, I'm honored to take the number one spot on the planet.

How can inflation be so bad if the Economy is booming so well?

Dave, did you even take basic economics before you flunked out of middle school?

Good economies cause inflation you tool. Thats the whole reason why the Fed tightens money supply to fight inflation.

As far as "Peak Oil".

It's a joke intended to get people like you all frothy.

Production matches the economics of supply.

OK. Let's say that is true especially since Oil Inventories are still at 8 year highs.

Then why the smoke and mirror bullsh!t that we are out of Oil???

 

[LegendKiller]

Originally posted by: dmcowen674

Originally posted by: LegendKiller

Originally posted by: dmcowen674

Originally posted by: Mill

Originally posted by: dmcowen674

Originally posted by: Mill
Prices

"This article is premium content. In order to gain access to it Login".

At least post free Propaganda. :roll:

Try this instead.

Dave, you are the biggest moron on the planet. I'm posting Commodity prices to show how bad inflation is across the board. Jesus Christ you are a paranoid fool.

Thank you, I'm honored to take the number one spot on the planet.

How can inflation be so bad if the Economy is booming so well?

Dave, did you even take basic economics before you flunked out of middle school?

Good economies cause inflation you tool. Thats the whole reason why the Fed tightens money supply to fight inflation.

As far as "Peak Oil".

It's a joke intended to get people like you all frothy.

Production matches the economics of supply.

OK. Let's say that is true especially since Oil Inventories are still at 8 year highs.

Then why the smoke and mirror bullsh!t that we are out of Oil???

Funny, I posted a link showing that inventories were lower than last year. So how could they be at 8 year highs?

Evidence dave?

 

[dmcowen674]

Bahahahaha this is hysterical yet so sad.

8-1-2006 Senate set for flurry of bills

The Senate is looking at a bill to expand oil and gas development in the east-central Gulf of Mexico, opening up 8.3 million acres for drilling.

The House has approved a broader measure that also would lift a 25-year federal ban on new drilling along the Atlantic and Pacific coasts.

The proposal is aimed at decreasing natural gas and oil prices.
==============================================
Yea right, like prices would really come down :roll:

 

[KK]

Originally posted by: LegendKiller

Originally posted by: dmcowen674

Originally posted by: LegendKiller

Originally posted by: dmcowen674

Originally posted by: Mill

Originally posted by: dmcowen674

Originally posted by: Mill
Prices

"This article is premium content. In order to gain access to it Login".

At least post free Propaganda. :roll:

Try this instead.

Dave, you are the biggest moron on the planet. I'm posting Commodity prices to show how bad inflation is across the board. Jesus Christ you are a paranoid fool.

Thank you, I'm honored to take the number one spot on the planet.

How can inflation be so bad if the Economy is booming so well?

Dave, did you even take basic economics before you flunked out of middle school?

Good economies cause inflation you tool. Thats the whole reason why the Fed tightens money supply to fight inflation.

As far as "Peak Oil".

It's a joke intended to get people like you all frothy.

Production matches the economics of supply.

OK. Let's say that is true especially since Oil Inventories are still at 8 year highs.

Then why the smoke and mirror bullsh!t that we are out of Oil???

Funny, I posted a link showing that inventories were lower than last year. So how could they be at 8 year highs?

Evidence dave?

Answer the question, where's the evidence Dave? Or is this another made up statement your pea size brain made up?

 

[dmcowen674]

Originally posted by: KK

Originally posted by: LegendKiller

Originally posted by: dmcowen674

Originally posted by: LegendKiller

Originally posted by: dmcowen674

Originally posted by: Mill

Originally posted by: dmcowen674

Originally posted by: Mill
Prices

"This article is premium content. In order to gain access to it Login".

At least post free Propaganda. :roll:

Try this instead.

Dave, you are the biggest moron on the planet. I'm posting Commodity prices to show how bad inflation is across the board. Jesus Christ you are a paranoid fool.

Thank you, I'm honored to take the number one spot on the planet.

How can inflation be so bad if the Economy is booming so well?

Dave, did you even take basic economics before you flunked out of middle school?

Good economies cause inflation you tool. Thats the whole reason why the Fed tightens money supply to fight inflation.

As far as "Peak Oil".

It's a joke intended to get people like you all frothy.

Production matches the economics of supply.

OK. Let's say that is true especially since Oil Inventories are still at 8 year highs.

Then why the smoke and mirror bullsh!t that we are out of Oil???

Funny, I posted a link showing that inventories were lower than last year. So how could they be at 8 year highs?

Evidence dave?

Answer the question, where's the evidence Dave? Or is this another made up statement your pea size brain made up?

Simply look up in the thread. The article and information is there.

I will pull it down for the lazy.

 

[dmcowen674]

Originally posted by: KK

Originally posted by: LegendKiller

Originally posted by: dmcowen674

Originally posted by: LegendKiller

Originally posted by: dmcowen674

Originally posted by: Mill

Originally posted by: dmcowen674

Originally posted by: Mill
Prices

"This article is premium content. In order to gain access to it Login".

At least post free Propaganda. :roll:

Try this instead.

Dave, you are the biggest moron on the planet. I'm posting Commodity prices to show how bad inflation is across the board. Jesus Christ you are a paranoid fool.

Thank you, I'm honored to take the number one spot on the planet.

How can inflation be so bad if the Economy is booming so well?

Dave, did you even take basic economics before you flunked out of middle school?

Good economies cause inflation you tool. Thats the whole reason why the Fed tightens money supply to fight inflation.

As far as "Peak Oil".

It's a joke intended to get people like you all frothy.

Production matches the economics of supply.

OK. Let's say that is true especially since Oil Inventories are still at 8 year highs.

Then why the smoke and mirror bullsh!t that we are out of Oil???

Funny, I posted a link showing that inventories were lower than last year. So how could they be at 8 year highs?

Evidence dave?

Answer the question, where's the evidence Dave? Or is this another made up statement your pea size brain made up?

U.S. inventories of crude oil stood at almost 341 million barrels for the week ended March 24, their highest level since April 1999

 

[dmcowen674]

8-4-2006 Iran says Oil will be $100 by December

Iran's deputy oil minister, on a visit to India, said international crude oil prices could hit $100 a barrel, driven by political upheaval and an expected winter spike in demand, Dow Jones Newswires reported.

Iran is OPEC's No. 2 oil producer.

 

[Strk]

They say it could reach $100 a barrel, not that it will. Hopefully, oil will not reach that level, but it's entirely possible. The strife in Nigeria could easily get worse. Then again, Nigeria might remain in its current state. And who knows, Iraq might even see some stability and be able to increase its oil production. It sure would be nice to see Iraq add 2-3 million barrels a day to the pot (k, so that's being really optimistic, but even pre-war levels would be nice).