You guys should check out the books by Robert Baer (ex-CIA operations), his book on oil and Saudi Arabia foresaw Al Qaidas latest strategy.
but the thing that bothers me is that there are alot of people on ET that belieave this will never happen. That its too big. It reminds me of all the people who were calling the new orleans type disaster crazy. Everybody knew it would eventually happen, but people were like yeah right. It just boggles the mind why people would still be in that mentality. One theory was back in my university days my phyc prof said, theres a built in protection mechanism in our mind. The same kind of mechanism that prevents us from achnoledgeing lifethreatening dieseases like cancer. Like if you smoke 5 packs a day and drink 6 bears, you belieave you will never get sick. Not b/c of reality but b/c of mentality.
I am having trouble with this alleged attack story..first I read about it on Yahoo said the guards stopped the 2 trucks and they blew one up and then they were in a gun battle with the occupants of the other truck for over 2 hours... Then later at night I read that it was 2 cars involved and they blew one up and killed the occupants of the other car immediately...they shot into the car with it filled with explosives and killed the people inside but didn't blow up anything? And in all the pictures that I saw associated with the story just showed a few police cars with lights on and always a few Saudi looking guys in their head gear...did anyone see any video from the guard house showing the cars approaching and then the guards blowing up one car and killing the people in the other one?..I looked all over and couldn't find anything...So if you have a link to a video of this attack please do post it...And if the one car did blow up how come it didn't kill everyone within 50 feet of them? like the other car and the guards?? And then it was all over the news wires that Al Quaeda immediately claimed responsibility...every article I read said that Al Quaeda posted on a web site they use to take responsibility but nowhere in any of the news articles did they post the website address?..I mean in every news story that mentions a web site they always post the URL of the web site in the story but again, in all the news articles about this terrorist attack no where did I see the website address....did any of you?? And finally, if this is all true why would Al Quadea claim to be responsible so fast if it was such a failure? Sorry but this story seems really fishy to me..
Oil should have gone up a lot more then it did. I think Oil is trying to tell us that the bubble is popped. John
The Saudi's got some monetary benefit from the story with higher oil prices. Of course they would never stage the story just for money. LOL One thing I like about these high prices is we even have Bush talking about making oil absolete with ethanol and battery technology. I also like it when he talks about solar.
Oil is trading below where it stood before the attacks, thats as bearish as it gets. No terrorism premium there.
Long term I think oil is doomed, regardless if they lower prices, good riddance. Just look at all the visits Bush made on President's Day. Once he sets his focus on something he's very stubborn about it, just look at Saddam. I'll never buy a gasoline car again myself. E85 for me, preferably PIEV someday. Sure it currently limits vehicle selection but I don't care, the 2006 Impala E85 is good enough for me, and gives me satisfaction I'm not feeding terrorist countries.
Its fishy b/c the sauds are so tightlipp on info on their oil infrastructure. They claim alot of things, thats never independently verfied. Thats the problem. We dont know how severe or little the attack was.
============== maharam; Could be right about the dives ; however SPY is in a nice persistent uptrend compared to 9-11-01, Nasdaqqq perhaps could crash the hardest, many don't pay dividends & except for today has had trouble staying above 50 dma. Saw that new story on 700 club/TBN ,even CNN got it right; & the Saudi gov doesn't like Dr Pat Robertson because of his stand for Israel. Sounds like the Saudi gov has a policy of ''Wanted terrorists , dead or alive''; & like the old westerns we watched as kids, many times the sheriff just kept the peace by sharp shooting bad guys