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Old 02-21-2011, 06:53 PM   #1
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How Do You Know

How do you know that the people or companies are jerking our chain with these rapid oil increases? When you listen to all the lies about WHY oil prices went up 6% today.

The countries with all the turmoil supposedly have precipitated a 6% increase in prices. Tell me how that makes any sense when you look at the import totals per day. Find those countries on the list? What's the propaganda coming out about the Libya oil supplies causing this? That's what it is, propaganda. They, the speculators, want us to believe the lie. All supported by a barrage of mis-information flying out of the boob tubes.

Crude Oil and Total Petroleum Imports Top 15 Countries

This is MY solution to this speculation in oil. If you don't own a TANK TO HOLD THE OIL and YOU PAY FOR THE OIL IN FULL you Mr Phony Speculator will not be allowed to manipulate this market.

Rapid changes in oil prices destabilizes all economies.
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Old 02-21-2011, 07:52 PM   #2
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I don't know exactly what you have but the YTD numbers don't add up. Look at Canada. Ytd 2010 is less than Oct 2010. The top chart are imports into the US by country. The rerason prices shoot up is fear of a supply disruption into the intire world system. Supposedly Saudi Arabia can fill up to 4,000 bbls but how low would it take them to ramp up production. It's a world price for oil, not just US. The oil wells in US that are not pumping based on a contract price are getting the price based on world wide price movements.

Best solution is for Israel to take Arab offer for peace and recognition from the 22 Arab countries which has been on table since 2001 and go back to '67 borders and forget the "Greater Israel" dream. ITs' security can be guaranteed.

Then US can have a foreign policy that is in our interests and not get jerked around by what's good for Israel.
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Old 02-21-2011, 08:34 PM   #3
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I'm no fan of Arab oil - BUT, if you sell a product on the world market TODAY for $10 US - and TOMORROW that dollar is only worth $5 US, you will either submit to getting only 50% value for your product, or else RAISE YOUR selling price 100% to make the same REAL profit you did yesterday!

There is a PRICE to be paid for endlessly printing money barely worth the paper it's printed on - world energy producers aren't dummies, and aren't about to keep on seeing THEIR product profits devalued along with OUR dollar!

Things like this will continue to snowball as WE in the USA contend with the after effects of trillion dollar "Stimulus" programs that print $$$ with NO backing - and about the time we realize the after effects of THAT mistake, the IMF, China, Russia, and all the other UN countries will dump the US dollar as the "World Reserve" standard currency - and THEN we'll join places like post war Japan and Yugoslavia when THEY saw THEIR currency values drop by 50% on a steady daily basis.

Am I the only one here who remembers pictures of post-wwII Japanese wives pushing wheelbarrows of their devalued currency to the market to buy a mere handful of food for their families?

OUR turn is coming...

And soon enough, $10 a gallon for gas, and $10 loaves of bread will be "the good old days!"

.
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Old 02-21-2011, 09:36 PM   #4
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LIBYA

Quote:
Originally Posted by Gary - K7GLD View Post
I'm no fan of Arab oil - BUT, if you sell a product on the world market TODAY for $10 US - and TOMORROW that dollar is only worth $5 US, you will either submit to getting only 50% value for your product, or else RAISE YOUR selling price 100% to make the same REAL profit you did yesterday!

There is a PRICE to be paid for endlessly printing money barely worth the paper it's printed on - world energy producers aren't dummies, and aren't about to keep on seeing THEIR product profits devalued along with OUR dollar!

Things like this will continue to snowball as WE in the USA contend with the after effects of trillion dollar "Stimulus" programs that print $$$ with NO backing - and about the time we realize the after effects of THAT mistake, the IMF, China, Russia, and all the other UN countries will dump the US dollar as the "World Reserve" standard currency - and THEN we'll join places like post war Japan and Yugoslavia when THEY saw THEIR currency values drop by 50% on a steady daily basis.

Am I the only one here who remembers pictures of post-wwII Japanese wives pushing wheelbarrows of their devalued currency to the market to buy a mere handful of food for their families?

OUR turn is coming...

And soon enough, $10 a gallon for gas, and $10 loaves of bread will be "the good old days!"

.



From the day the Libya uprising started our currency did not slide 6%. Nothing is supposed to change by 6% in a few days. I'm not going to get into money speculation as in FOREX.

What's going on is a phony "MARKET". When the supply is up and the prices keep going up there's someone manipulating us.

The entire Persian Gulf oil import is only 10% of our daily total. All of Opec is only 25%. Libya is a miniscule drop in our bucket. We're being conned.

There's nothing wrong with the source. We import approximately 16.5 million barrel per day.
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Old 02-21-2011, 09:42 PM   #5
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Also there will be no ramping up of oil production by Arab countries. It is well established that Saudi proven reserves are over estimated by 40% as of now, and they are maxed on production.

Peak Oil was reached in the US in 1972, and our consumption has gone up every year since, while production has declined every year since. That is while finding new reserves along the way. Most countries are facing the same situation.

Add to that consumption in China and India are sky rocketing and will pass our usage, where historically we used more than the rest of the world combined up until the last decade.

Global production is in decline, while global consumption is expected to triple by 2020.

Lastly, with all of the chaos and unknowns in the Middle East, and Obama shutting down the Gulf of Mexico, oil will potentially be a nightmare for a long time. It's just getting started, gas might top $5.00 a gallon by the end of this year.
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Old 02-21-2011, 11:16 PM   #6
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Maybe we need to drill our own and hoard it for ourselves and not sell it off to China who lays in wait for payment from us somehow for all the money they lent us. We have enough oil fields (so I have read on here) that we can last several years. All we need to do is lift the drilling ban and get with it. But Congress wants only what Congress can get going and that is the end of that story.
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Old 02-22-2011, 12:50 AM   #7
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what does "moved" mean on on lead page for this discussion?
Where does it get "moved" to?
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Old 02-22-2011, 01:17 AM   #8
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Quit whining about oil, food will be the next thing to skyrocket from speculation, it has already started. You can park your RV but you can't stop eating. That is the thing to watch and fear...
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Old 02-22-2011, 06:18 AM   #9
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Quote:
Originally Posted by Stevepkam View Post
what does "moved" mean on on lead page for this discussion?
Where does it get "moved" to?
Means a mod moved the thread to a more appropriate area than the one it was started in....
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Old 02-22-2011, 06:20 AM   #10
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Quote:
Originally Posted by Gary - K7GLD View Post
I'm no fan of Arab oil - BUT, if you sell a product on the world market TODAY for $10 US - and TOMORROW that dollar is only worth $5 US, you will either submit to getting only 50% value for your product, or else RAISE YOUR selling price 100% to make the same REAL profit you did yesterday!

There is a PRICE to be paid for endlessly printing money barely worth the paper it's printed on - world energy producers aren't dummies, and aren't about to keep on seeing THEIR product profits devalued along with OUR dollar!

Things like this will continue to snowball as WE in the USA contend with the after effects of trillion dollar "Stimulus" programs that print $$$ with NO backing - and about the time we realize the after effects of THAT mistake, the IMF, China, Russia, and all the other UN countries will dump the US dollar as the "World Reserve" standard currency - and THEN we'll join places like post war Japan and Yugoslavia when THEY saw THEIR currency values drop by 50% on a steady daily basis.

Am I the only one here who remembers pictures of post-wwII Japanese wives pushing wheelbarrows of their devalued currency to the market to buy a mere handful of food for their families?

OUR turn is coming...

And soon enough, $10 a gallon for gas, and $10 loaves of bread will be "the good old days!"

.
Agreed...
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Old 02-22-2011, 09:31 AM   #11
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What I see people typing is what the boob tube is spouting. All phony "reasons". You can believe what you want but back in 1974 they said we were out of oil.

What I'm talking about is a FRACTION of the oil MIGHT be in jeopardy and the MASSIVE effect it is having on the WHOLE. The effect is illogical.

How long has oil been on the NYMEX? This MARKET is rigged. Now the boob tube media is helping these exploiters with made up "reasons". They are ruining economies much like the short sighted moving of our industrial might to China. All for a few to line their pockets at the expense of others.

There is no SHORTAGE. They have you CONDITIONED to accept this. They have you CONDITIONED to pay more for gas in the morning than the night before. Same gas.

Food is related to Fuel. Two years ago people starved by the millions because of the too rapid increase in fuel prices and its effect upon the price of food. All while the government made believe it could do nothing. What they did do is subsidize the use of corn as fuel. Less corn to sell as food jacked prices. Government took fuel as a cash cow. For you old guys, where are the signs which used to be on the pumps stating the taxes on fuel? Gone, because they're sticking it to us.

6% in a couple of days doesn't get you wondering? You don't think they're priming you to accept the gouging they will give you?

Where's the pipeline from the tar sands in Canada? It puts more oil into the market. Our market. This will be met by a lower price from Opec. The price drops and makes it uneconomical to produce the tar sand oil. Back and forth it goes but then like magic EQUILIBRIUM is reached. Stable prices and back to normal, like 1960's normal. If the market is truly not being manipulated.

This whole system is upside down. WE are the big dog BUYERS. They need YOU. Saudi Arabia realizes this.

There is not any evidence of a SHORTAGE. I don't really care about the mythological future.

Pickens claims this: We sent $337 billion overseas for oil last year. Sounds like a big number. Well I see it as a tiny fraction of the $14.7 TRILLION dollar economy whe have here. I'd rather send it overseas for something useful rather than bail out some financial gamblers and con men.
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Old 02-22-2011, 09:50 AM   #12
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Quote:
Originally Posted by Stevepkam View Post
I don't know exactly what you have but the YTD numbers don't add up. Look at Canada. Ytd 2010 is less than Oct 2010. The top chart are imports into the US by country. The rerason prices shoot up is fear of a supply disruption into the intire world system. Supposedly Saudi Arabia can fill up to 4,000 bbls but how low would it take them to ramp up production. It's a world price for oil, not just US. The oil wells in US that are not pumping based on a contract price are getting the price based on world wide price movements.

Best solution is for Israel to take Arab offer for peace and recognition from the 22 Arab countries which has been on table since 2001 and go back to '67 borders and forget the "Greater Israel" dream. ITs' security can be guaranteed.

Then US can have a foreign policy that is in our interests and not get jerked around by what's good for Israel.
OK but, the longest a peace w/ Arabs has lasted is ... oh... 2-3 hours.
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Old 02-22-2011, 10:27 AM   #13
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It's all smoke and mirrors boys, all smoke and mirrors. It has more to do with speculation than it does supply and demand. If it all made sense we could fix it, but that isn't going to happen.
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Old 02-22-2011, 10:42 AM   #14
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Speculation is what sunk Flying J. They bought all those futures at high prices and then the prices fell. They ended up paying more than what they could sell it for.
I believe this will pass, but when it does, the price will be higher than when it started, but lower than it is now.
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