dddooo wrote... Two oilmen in the White House and the price of oil shoots up to 4 times its historical median value. What a coincidence ......................................................................................... You and millions of people throughout the world ...including me ...know beyond the shadow of a doubt ..this is about the Bush Cheney oil play... Look first Bush told you that Iraq had WMDs and that Hussein had his finger on a hair trigger... He also said that Iraq's oil would pay for the war... Look when your daddy was president..and head of the CIA..and your VP has trained to specifically go after govt funding...look Cheney headed a firm in TX that was grossing a few million a year...he subsequently immersed himself in Washington to find out how to land government contracts and work the system....he then headed Halliburton and contracted billions through government auspices...He now as VP has focused Halliburton work in Iraq having grossed over $10 billion and counting... Everyone knows that N Korea and Iran have had far more threatening circumstances than Iraq.. The fact is that GW has continually lied to the Public..and while appearing to be casually honest...is quite the contrary...Brumsfield had no earthly idea how street tough it was going to get..and thought that the war would be over in a matter of days... Even with the help of CIA experience..Bush may not escape impeachment...and here again...Bush-Cheney could care less because they are not going to be elected again.... These guys are very slick..and have a lot of help...but school is out as to whether or not they will get away with their so called perfect oil crony scheme...The US public is quickly getting fed up with their fake propaganda crap..... Look this guy cannot even face up to one of the mothers of the dead young men that is camping beside his house... Time for this crew to go...They F...up every thing they touch...This is what happens when you get nonqualified individuals in important job positions... CAFTA is another blunder..US cannot afford these two clowns.... This is so easy.....follow the money.........
Call me Mr simpleton since I can't think that deep. All I know is that out of the 50 or so cars in my block I can probably count 5 cars that are 4 cylinders. The rest are Explorers, Expeditions, Tahoes,etc.
Very good observation. More often than not, this aspect is overlooked and not appreciated. In fact, it is often interesting to observe how fundamentals are suddenly altered to support the speculative interests. Obviously, commodities are a different beast than equities, and there is a more distinct supply/demand balance, but the same principle applies, IMHO.
not weird at all-----------china had over a 20 percent year over year increase in the oil imported for the last three years {this year should make the forth}---this is a very dramatic increase in their oil usage/import trends then at anytime in the 90's. also india has exploding year over year increases over just the last several years-----this is a big difference from the 90's. the 90's suv craze from cheap oil here in the US has hurt the yearly average vehicle mpg figures for cars sold here in the US-------so the US became more inefficient from a vehicle mpg stand point during the 90's {the ford expedition is a blast from the clinton years past----------not produced now in the bush years} the worst figures for the US during the 90's until january 2001 time period was the fact that the US imported roughly 40 percent of oil needs in 1992. by january 2001 the US was up to 60 percent imported-------------very big strategic mistake there-------more lazy no energy bill in many years dependency. the 90's had nothing but additional dependency as the choice from our countries leadership-------------seems like they set us up! i think big oil has sent all their "thank you" cards to an address in the state of new york.
What is even sadder about the 5 4 cylinders - is that 4 cylinders are about the fastest things the average individual can buy Subarus STI and Mitsubishis Evo 8 - 300hp and AWD - in the right hands those things beat up on mustangs and vettes with twice the cylinders Technology is a wonderful thing sometimes Yet in Japan - these cars have been around for years ( 90 Eagle talons used the same engine as the Evo 8 just not as refined back then)
I have a very simple view on the price of Oil, when everyone is screaming oil will only go higher, the end is near. All I hear and read is how oil is comming down, and this cant last.
Perhaps all of us remembers BOJ's intervention on jpy. So, does anyone have an idea, why several countries couldn't make intervention selling oil in market. Wouldn't it will be cheaper?
The past does not matter as supply was able to meet demand, this is no longer the case (at these price levels anyway) There is no upside limit. Oil will go to the higest bidder, eventually it will reach a price where it is so expensive that alot of people wont be able to afford it and then at the price it will stabilise (for a short period atleast). At $60-$100 oil is still affordable. At $100 and above it starts getting painfull and demand will start to fall because people will start to cut back on usage (drive much less etc). Until demand falls the price will continue to rise.
This is driven by speculative capital, bidding the price up. Look at what the oil-producing nations have to say! If some big consumer, most probably in Asia (as US probably wouldn't release stocks from Strategic Oil Reserves, even if its President wasn't a puppet of Big Oil) would hold back for a few a weeks, oil price would go to $40 in notime. They have done it in the past.