"The American people are furious about what's going on and they understand that nothing is happening here that justifies the price,'' - Senator Byron Dorgan, a North Dakota Democrat. I wasn't aware that the average American was capable of judging the correct price of oil.
Nothing better than a politician arguing a price set by a market is 'not justified'. Next thing you know we're back to 5 year wheat production plans.
Remember back a number of years ago when the average American became an expert on tech stocks? Its a sign.
what 2000 bubble? amazing, what a quick fix society we live in... oh yeah, i gota step out for my $4 Iced Latte at Starbucks!
Interesting that the Chinese stock market tanked yesterday....has it something to do with subsidizing oil? At this rate, India, China and Malayasia have got what's coming to them. At this point, they have to continue to subsidize, apparently costing hundred of million or so per day.:eek:
The average American is a F*(& fool. The average American has more debt than income. The average American ran out and bought massive SUVs to hall their SH*&t around or to look cool. They were sucking up gas faster than a Hooker on blow. The average American is a fool and can't handel their own Personal Finance let alone understand this current "Buble" in Commodities. The average American is still long a STOCK FUND and has yet to roll any 401k, if little, into a commodities fund. The average American gets what He/She brought on. Im in the Oil Business, We drill domestically, we have wells pump'n 1.5 million dollars a year, we have very happy Investors. We have guys getting cash on cash returns in less than 9 months with return capital rolling in at 10k a month for .46 % or so of the actual Deal. So, all this bullshit talk about "OIL" being the bad "Sheep", these idiots need to take a look at their life styles that have yet to change. Until such happens, Oil will blow past 150 and reach 200 in less than 6 months. And, even if "America" changed its consumption habbits, that would do little to the price of Oil. So, leave the "Speculators" alone, Leave the Oil Companies alone and shut the F(*& up congress. The US is a laughing stalk of the world as we have more Oil in this country than Saudi. Yet, the idiots in Congress prevent any drilling in Key areas. So, it is what it is. And a S^$T load of people are getting rich very fast.
I would not argue with the fundamentals. They obviously work, for those who use them. I use market cycles. Believe nothing can go up forever, without sharp corrections. Yes, oil may continue up, but...:eek: