Its interesting that most commodity companies tend to forecast bullish prices for their materials(gold companies in particular), including oil service companies. the oil majors are pretty much the only I know who are bearish, they have windfall tax threats on their asses also, coincidence? http://www.bloomberg.com/apps/news?pid=20601072&sid=actpv8pjkuWQ&refer=energy
these congressional hearings are dumb. it happens every time oil/gas prices spike. they did this in 2005 after katrina when gas momentarily hit $3/gal. why don't they have hearings every time the stock market or housing market surges? nothing ever comes out of these. it's just a dog & pony show for the public. total waste of time..
Exactly. Smoke and Mirrors for a moronic public who can't be bothered to educate themselves on a 'difficult' concept like inflation.
No shit. I'm so f*cking sick of all of these deceptive, slimmy congressmen (BOTH SIDES). Every single thing they do is about one thing...........................getting votes by making it APPEAR that they are doing their jobs. Unfortunately politicans that do the right thing and tell the hard truth, don't last long.
one reason they are bearish is imo, that they want people to believe there's a future with cheap oil, and so convince them not to go for alternatives... they did that a long time already, telling stories of decades of plenty of oil still ahead... the truth is different, oil production already dropping... despite record high prizes... there is just not enough left anymore... and demand is not flexible, and honestly if you think of what a powerful/precious stuff that oil is, it was just too cheap all the time, and we just wasted it. sounds silly, but think of that: Oil is still cheaper than coke... but if you imagine how much power/energy in a bottle of oil is... is that right? driving around on a scooter, all day, and costs 5 bucks in fuel... come on, that's too cheap... the price of mobility should be higher, and will be higher... people are just willing to pay more...
Yawwwnnn. Price should be? Price of Oil should be at 90? Humm, last time I looked at my monitor I saw 134. We are selling more Shares in Domestic Drilling Deals at 90k per share than in the history of the US OIL run. Infact, right here, right now is the time to be in Oil. Arabs are throwing money into the HEDGEFUNDS, due to the fact that they can't take in "Interest", per their "ISLAM LAW". The week Dollar is still weak. China, India, and the Rest of the world is GROWING FAST. US consumers are still sucking up oil. Emerging markets Surpased US oil consumption for the first time. So, Oil should be at 90 a barrel. Oil was at 60 a year ago....THINK ABOUT IT.:eek:
Yes not good! See following links: - http://us.rd.yahoo.com/finance/finh...tp://biz.yahoo.com/ap/080521/wall_street.html - http://us.rd.yahoo.com/finance/news...p://biz.yahoo.com/ap/080521/oil_congress.html - http://biz.yahoo.com/ap/080521/american_airlines_reductions.html - http://biz.yahoo.com/ap/080521/fed_economy.html - http://biz.yahoo.com/ap/080521/oil_prices.html So, it seems that dollar is still weak & the oil prices are so high. If the oil prices were in Euros, will that help?
never did you see Ford and GM hauled in when they were making record profits and charging too much for their crappy cars.