This should answer your question. emrglobal http://www.elitetrader.com/vb/showthread.php?s=&postid=2228111#post2228111 and Papa Lazarou http://www.elitetrader.com/vb/showt...327&perpage=6&highlight=maxd out&pagenumber=2 BTW: take a look at the Brent/wti spread. this will help you to understand this spread http://seekingalpha.com/article/110457-contango-and-cheap-brent-oil Right Now the brent is trading almost 2 dollar over the WTI, and the january spread closed with the brent trading over $8 dollar over the WTI.
Crude Oil reached $145 in 2008 because of massive demand from China & India. I think 5% or 10% of "Oil money" from gulf countries goes to Taliban and Al-Aqaeda as financial help. Worldwide terrorists must have become rich when Crude Oil reached $145 per barrel. They must have purchased High-tech weapons. Even weapons of mass destruction is possible. It can be said that China and India indirectly provided finance to terrorists worldwide by forcing Crude Oil to reach $145 per barrel.
who says that? by the way you are much easier renewable than hydrocarbons. i think saudis get it right - you need to have a mutually fair crude price with low volatility (to have efficient capital alocation and all that capitalist crap). fair is clearly tricky - but it could be thought of as a cost of producing marginal barrel over long term. and this is not $40 unless we all buy gm cars on AA batteries... atb
What have we sunk to in America? Now we got people feeling sorry for, and siding with, the Saudis and the oil companies. Wake up! Look out for your own ass!.....THEY ARE!
I guess you haven't ever heard of the "Commodity Futures Modernization Act of 2000". It was proposed by a bunch of midwest Republican House Reps ( Ewing of IL, Bliley of VA, Combest of TX, Leach of IA ), and the companion bill was introduced in the Senate on Dec. 15th, 2000 ( by Lugar of IN, Fitzgerald of IL, Gramm of TX, Hagel of NE ). The Bill by-passed the policy committees in both the House and the Senate so that there were neither hearings nor opportunities for recorded committee votes. As a result, the outgoing President ( Clinton ) was in no position to veto anything. It gave Enron the ability to trade power contracts electronically without any CFTC oversight, and it also allowed for the de-regulation of the CDS market - - - not too mention the opportunity for West Texas Intermediate Crude Oil to trade electronically in London and Dubai without any position limits, regulation, etc. In my opinion, this lack of regulation/oversight allowed for the $147 price "spike" in oil as one pension fund after another sought performance under the guise of diversifying their assets into the energy market. Given your logic above, would you now be suggesting that Republican leadership in the House and Senate indirectly provided financing for terrorists?
It is very important that Crude oil always remains at $15 or $20 per barrel, so that minimum finance is available to Taleban & Al-Qaeda from "Oil money" Whatever be the price of crude oil available to Gulf countries. I think 5% or 10% of "Oil money" from gulf countries goes to Taliban and Al-Qaeda as financial help.
Landis82 wrote: "In my opinion, this lack of regulation/oversight allowed for the $147 price "spike" in oil as one pension fund after another sought performance under the guise of diversifying their assets into the energy market." Let's be clear. Crude rose to $147 for two reasons, both beginning with "I": INFLATION - Bernanke has been debasing the dollar to reduce the "real" amount that has to be repaid by debtors IRAN / ISRAEL - Israel likes going to war & made advances to bomb Iran's nuclear facilities. When this didn't occur (because it's a ludicrous & ineffective idea), traders sold exited longs. The modernization act of 2000 was a FAILURE largely because it allowed CDS to trade off-exchange, as Landis wrote. MERRY CHRISTMAS TO ALL & TO ALL A GOOD NIGHT!
I've read articles on the net about abiotic oil which are saying that basically there's an unlimited supply of oil available. The Russians are just beginning to tap into this supply with ultra deep wells. The Russian are the ones that pioneered the science of abiotic oil. They say that the theory that oil came from decaying plant and animal matter is totally false. Does anyone know if there is any truth to these stories? I've searched the net and I can't find anything that does a good job of confirming or denying the theories of abiotic oil. Perhaps if it is true about abiotic oil, the oil companies wouldn't want to let it out that there's an unlimited supply, that would collapse the price of all their reserves.
Dear Sam, I've read similar reports. Without first-hand knowledge, it's difficult to say. Lindsay Williams who was a pastor at many rigs on the North Slope & later sat in board meetings for I believe Royal Dutch Shell has stated there's extremely LARGE DEPOSITS on Alaska's north slope that is being kept shut to keep prices high. Like many things (war on terror, etc.) it's one big farce. The tough part is not getting upset over it. I'd be very interested to learn more about abiotic oil.