Its naive to think something call electricity will replace candles and lanterns, we need more candles now. Its naive to think something call an automobile will replace the horse, we need good horses now. Its naive to think well I could go on and on, surely you dont call yourself a risk-taker.
it will come but not anytime soon. the tech has to evolve. for now its not feasible. what good would it do to spend trillions on hydrogen as a replacement for fossil fuels when we dont know if its feasible. maybe we should just wait until battery tech becomes good enough to power cars and save the trillions it would take to build hydrogen infrastructure. these things have to evolve along with the advancement in technology. until then we are stuck with oil.
I will put up buy and sells here also along with news. I can't decide if I should list my entry and exits or go at it from a point of view as tracking one of my accounts. The reason I like tracking an account for everyone is that it shows the risk/reward side ie: position size vs account size, etc....
Oil Stuck........... Yeah....as long as a significant portion can be produced below the alt line.... IE....Kuwait ...can bring it up for $1.00....much of the mideast is less than $3.00... ......................................................................................... This is why alts have to swim with $25 oil..... ................................................................................... Unfortunately....oil will have to have a floating tax to keep alts alive...after they are introduced..... .................................................................................... And unfortunately...US public memories will be short when oil backs down.... ...................................................................................... The public cares about one thing.... SHORT TERM LOWER PRICES ...................................................................................... When the Bush CRONY premium wares off...and mideast tensions settle..... The public resolve will vanish into thin air........ ............................................................................................ Just like it did in 1980-82.... ......................................................................................... The LC swing producers are not going to be happy about alts when their very existence depends on oil revenues.... Yeah $40...$50 is not going to be the low future number....for this sole reason...
Jay, What type of background (educational) do you have surrounding the oil industry. Did you go to college and recieve a general business degree and work on the financial side of this business? Are you on the scientific end of things like engineering and chemistry? Currently I am a market bear as I feel the bullish market psychology is overblown. What is your current position?
I have a degree in Finance, I work on the revenue side of the business. Watching the oil/gas from the well to the purchaser. As of last week I'm flat, looking to re-enter longs soon in CL and HU. Weekly close below 68 would turn me bearish.
I am thinking more along the lines of Bio-Diesel, Ethanol, not so much as the hydrogen. Bio-Diesel is a clean burning alternative.
Biodiesel has problems in cold weather (say 40 degree's and below), this problem needs to be worked through.