well, those are not my expectations, but it is kinda funny isn't it? and so is the sad state we're in, and the sad state that the media keeps putting forth, the notion that nothing can be done about these conditions... and the recent announcement that even this administration refuses to attend the conference that the Saudi's are conveening to resolve this market issue regarding supply and demand and their calculation that the price per barrel should be no more than $70 with all current global demands kinda funny isn't it? hmmmm
Now I get it. The Saudi's think oil should only be $70 but out of benevolence to long speculators they're refusing to pump every last field dry. If SA thought oil was worth $70 a barrel they'd log into their House of Saud IB account and que up "sell 4,000,000 July CL at 70 or better" and then wipeout bids for the next 60 dollars below here.
I have never said markets are perfect they tend to go haywire every now and then, you know that don't you? The problem is there is nothing better. I spent 27 years in country without markets. Profit was considered to be "immoral" but we had five year plans.LOL.LOL. Results? There were times we had to make our own toilet paper so we could clean our asses after taking a shit. Funny isn't it? I had bananas once a year on Christmas, couldn't afford it more often. Veggies and fruits, you had to grow your own. Go to Eastern Europe find the car called Trabant and drive it for a while it's fun. Yes things were gooooood, there were no capitalists who would profit from us people (honest working proletariat). We the people "owned everything". You know everything was nationalized. WITH SOVIET UNION FOREVER AND EVER
will admit, I don't fully understand it all either, just the pain at the pump issue, and all the other human (social) issues within the US that are being harmed and changed as a result of no defense whatsoever to these conditions. where was all our preparations? where were all our defenses? where was our government's actions to mitigate and minimize these negative and deliterious effects of these fuel prices? just to be positive, I am still looking for them (actions in behalf of the citizens), and still not finding them however, I am finding on the news, whatever group of Senators trying to take some actions being blocked...
welcome to the US.... we are better than average, and worse than some... and the duplicity is staggering... we work hard here, we root (cheer) for the underdog, we struggle to live like the Jones(es), we care about fair play, we care about getting a fresh start too (after all, bankruptcy was part of the continental congressional discussions with this nation was formed, and now replealed by Bush-II) we care, and its not socialist to express that either.. welcome to the US...
If they had any brains they would probably wait for some signs that the speculators were done before hitting the bids
post the charts, which are not so readily available on: 1) proven reserves, previously found 2) sour crude reserves, which takes more refining than sweet crude 3) replinished old fields and tests on those when choosing to present data to support these artificial prices and dire scenario, why not just present all the data, and then let price discovery mechanism work, where the total data shows why all this one sided stuff? you're smarter than that, and so is the public....
While you are at it, please post charts showing where speculators are stock piling all the oil that they refuse to sell to consumers at lower prices, and thus must take delivery of. Or maybe its that there isnt enough to meet demand, so they have no trouble finding buyers even at $130+. I continue to maintain that if there is anything going on in the oil markets, its going on on the supply side (ie: certain nations pumping under capacity to drive the price up). Note this has nothing to do with speculation.