When the China thread started just a bit more than a month ago, a barrell of oil had just reached $134 (!!) on the world markets, an unthinkable event.
It finished this week above $140!!! It's all-time historical records almost daily.
Despite a slowing economy on the verge of a recession of the country (US) that still uses oil the most, numerous Congress hearings, a special meeting last Sunday with the OPEC promising more production and a lot of jawboning from hign ranking government officials from most of the big countries, nobody and nothing seem to be able to stop the relentless advance of the most critical energy of our planet.
I'm surprised that the general public is still relatively calm.
Hans
This message has been edited by Hansmtl on Jun 27, 2008 6:53 PM
we are wasting alot of gas and petro i iraq...heck hans i am worry..this is not just supply and demand its pure greed by many partys..where the oil comes from and majo retailers making thier highest profit in history..not if things were so bad why is thier profit all records last year..i read people who live close to mexico take shaoopping trips this and gas up while this over $1gal cheaper...hey where all that canandian oil at????? if i were presindent i would last 1 day i fire everyone
bob/philly
When Bush took office Oil was selling at $30 a barrel now its over $140, its more than just coincidence and when he returns to Texas he will be a hero.
since these desert dwellers like to gauge us we should get the entire world markets to do the same to them since they import almost everything and triple our goods prices to them also
off topic some..this is the only country in the world for most people ..that can arrive here broke and still become well off with very hard work..i will name a few countries i wont be able to..bahamas..most of europe,,all arab countries..most of south america..cananda i say 50-50.....reverse this and see if they come here and can do well...
bob/p
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Re: Crude Oil
June 28 2008, 3:19 PM
Have no fear,we will be back to 2 dollar a gallon range in less then
45 days if not sooner.Traders got a little greedy again and now will pay
the price.50% of current traders will be DTR (down the road) and broke.
The prices you see today are only a result of greed and leverage.
Partys over very soon.They wont be able to go short also,which will
wipe many out.Better days coming.
2 dollars a gallon wow . there was one garage in the uk selling diesel at close to $18 a gallon a few weeks back when esso truck drivers was on strike .but on ave its about $9 a gallon for petrol.
Meandean: yes there are signs of a late stage euphoria in the historical energies bull market and prices could deflate a bit in a hurry at anytime now but not as much as people would like because beyond some speculation the fundamentals seem to have changed forever.
Oil is the cornerstone of our modern economy and is related to nearly everything we do and it is now becoming the cornerstone of more and more 'emergent' countries. It is estimated that between 1500 and 5000 new cars are hitting the road every week in China.... these are drivers that never drove before. Then there is India and there are more getting on the list.
It is possible that you guys in the US will never see $2 gallon again... certainly not in 45 days. Let's bring this thread up in 45 days and we'll make an assessment. 44 days left hehe
And sadly there also exists another possibility: in a year or two, we could be looking back at today and thinking how cheap oil was at... $140 a barrel. When oil was approaching the unthinkable $100 a barrel, several pundits were already calling for a swift drop in prices and let's look at where we are today.
Bobby: Canada is now also very popular for people who want to start over. Just our all-inclusive medical coverage is something that makes many countries envious. Canadians who don't travel don't realize how fortunate we are just for this. And we never have hurricanes here LOL
hans you are a very smart guy..but i will bring this up 6 months after we get a new president...usa will see prices of alittle less then $3 a gallon but not less then $2....many factor i think go into this not just facts of china and india...first off we are spoiled with are certain ways of living and people vote and things can change $3 gal insread of $4.29 i just payed is still high but real imo for future..say what you like . but if usa has a colapse..many countries will suffer..so with oil i think it will reach a midway for usanot real high not low..but for now it will rise higher..see we dont have benifits like socialized med..you do..so we have lower gas prices..this imo..i think the new president will correct bushs major mistakes in time..free trade is one...china wont sell wigs if usa outs giant taxes on thier goods...opec should pay $6 for a head of lettuce and food products....you much smarter then i in many ways but if its just the cost of 1 barrell of oil only ..
36 billion dollars us...its not the cost in a barrel its greed also..china i belive regulates thier prices for whole country while thier i read only 3 price increases in 2 years and gas lines so we will see..hey i am 46 so i guess no need to worry much as i am prepared to pay $6 us in my future.as i will not be put in position of buying a hummer truck and they raising oil so fast like they did...all this stuff with gas has helped me as now i not think new bmw again i think toyota yaras 35 mpg and a new scooter soon like europe.
bob/philly
...When Bush took office Oil was selling at $30 a barrel now its over $140, its more than just coincidence and when he returns to Texas he will be a hero...
Good Lord... People really need to educate themselves on basic U.S Government... Friend, the Office of the President is not the Office of God... People blame the President for everything... Everything from high fuel prices to hurricanes, but they always fail to explain how he did it... If you would educate yourself on how the US Government works, you will find the President simply does not have the power to do the things people blame them for.. Now the branch with the most power is the Congress. So if you want to point the finger at the Government, you might want to take a closer look at our Representatives.
Also please note that neither the President, the Congress, or the Judicial branch of the Government is to blame for the hurricanes, floods, forest fires, and drought, the U.S has been experiencing... The one responsible is God and maybe He is trying to tell us something... But for those who don't believe in God are free to keep blaming George Bush for everything and then go and hug their favorite tree.
jj i agree on most of what you said but this knuckle head we have in charge said they have weapons of mass destruction..we went to war for that reason..total joke..if we could have not found any we should have planted some...he made usa a giant joke and put 2 many lives at risk...i bet his oil wells and stock are good in texas...this nut should have been impeached..he will go down as yhe worst president in our lifetime..only time will tell..hate to be political...on other news i just saved alot of money on my wig . i tryed toplace ..
bob/p
Don't get me wrong, I'm not a big George Bush fan, but he did not go to war to raise gas prices... That is ridiculous, but let's look at the facts...Iraq did have weapons of mass destruction. (For Example, Poison Gas) It was proved they used it on Iran in 1988 and killed over 5,000 people and left another 10,000 people seriously injured... Another fact is Saddam Hussein told the world he had other weapons of mass destruction. (Of course this was proved to be false after the U.S invasion) But nevertheless, it was his regime that put out the false information so other countries would believe he had something he didn't. (Kind of like what Ronald Reagan did to the Russians with the Star Wars program) Misinformation is misinformation, and the Russians got fooled by the U.S just like our intelligent agencies got fooled with Saddam Hussein's misinformation.... Now I'm sure some would say our intelligent agencies should have known, but let's think of it like this... If a man walks up to you and says "I have a gun, give me your money" And it turns out he doesn't have a gun... Are you to blame if you believed him????
sorry jj i turning into max..oh by the way if a guy says he has a gun in phila pa ..murder capital of usa ..you say show me i dont beleive you haha..or i got a nicer biger one so not turn around...keep your hands where i can see then haha..
see off topic like wearing hair we have choices ..just the other night i had a gun on me i have permit to carry in city...a red neck says to me move you car or i will move it 4 you.
bob at 46 friday had 2 choices resist and fuel his fire or use my head..
#1 normal option . go blank youself i not moving anywhere..if that happens we fight or one get shot because he has no brain
#2 agree and move car
#3 trick metal miget with my mind..like sorry fellow i got a bad heart and cannot get excited you are correct i will repark my car..he will feel like 5 cents..
moral use your brain.
as far as crude oil i staying out of it as i just reg guy who has reg ideas i leave this up to max .h and other...BUT USA WILL FIND A WAY TO BOUNCE BACK ALWAYS DID ALWAYS WILL
BOB/P
