Tony Daltorio

Don't Believe Long-Term Oil Forecasts

Two things - one item is, who cares about the US statistics you quote, statistics from the emerging world are far more important.

Second - you're right about the manipulation, but it's on the downside by Wall Street. Wall Street makes much of their money from people like you buying stocks, and they do not want people seeing commodities are a solid long-term investment and moving their money there.


On Nov 09 08:32 AM John Eickholt wrote:

> Oil has been manipulated for years with the Hype of weather, China
> and India. Just like today the weather Hurricane Ida that has been
> downgraded.
> Some facts from last weeks Gov. inventory report.
>
> Distillate fuel demand has averaged 3.6 million barrels per day over
> the
> last
> four weeks, down by 14.8 percent from the same period last year.
> Jet fuel
> demand is 3.1 percent lower over the last four weeks compared to
> the same
> four-week period last year.
>
> www.eia.doe.gov/pub/oi...
>
>
> Distillate fuel move our goods and services. This is down 14.8% from
> last year. Even with this news they want to trade up prices for Greed.
>
> A story from Fadel Gheits about oil prices.
>
> Fadel Gheits is the one guy that CNBC won't bring on.
>
> seekingalpha.com/artic......
>
> FG: Two things. Oil prices have not been driven by supply and demand
>
> fundamentals for years. This was exacerbated by the incredible influx
> of
> money from financial players into the commodity markets over the
> last five
> years and especially oil, which basically created the oil bubble
> that we had
> last year. Supply and demand fundamentals are beginning to play a
> secondary
> role now in oil prices. Financial players have much more clout and
> basically
> manipulate-influence, if not manipulate-oil prices; that is very
> clear.
> That's why we have the investigation by the CFTC and all the hearings.
> I am
> not holding my breath to see any changes because the politically
> motivated
> individuals and the incredible lobbying by financial institutions
> make it
> very, very difficult to regulate or enforce regulations in the books
> to stem
> that incredible increase in financial institution influence on the
> commodity
> prices.
>
> I hope these oil traders will have to drink the oil for their New
> Years EVE drink.

Don't Believe Long-Term Oil Forecasts

The only reason that oil was $32 a barrel was the blatant manipulation of the NYMEX contract by Wall Street.

That is why Saudi Arabia is dumping using the NYMEX contract and opting for contracts that are less manipulated by the Wall Street banksters.


On Nov 09 03:05 AM bigbear4511 wrote:

> Oil was $32 dollars a barrel in February due to the market crash.
> It is highly possible we will experience another crash in the not
> so distant future. the next crash could easily be worse than this
> one. No one thought we would see 50$ a barrel ever again and we went
> way below that. The next big crash could be in CHina. Who will pull
> this economy out of hole when that happens.

Don't Believe Long-Term Oil Forecasts

What nonsense - typical for an American investor who never looks beyond their own borders.

Much of the emerging world has not and is not going through the financial suicide the US is with credit. And that is where most of the future demand for oil will come from.


On Nov 08 02:11 PM Jasper M wrote:

> "No reasonable person expects the world to return to those prices
> any time soon."
>
> The oldest rhetoric trick in the book - call those who disagree with
> you unreasonable, without any substantial argument to support it.
>
>
> Credit inflations tend to reverse Very quickly, which destroys money
> supply, faster than central banks can replace it. That drives down
> prices - FAST - as there is simply less purchasing power around.
>
> And we have been through the grandest credit inflation in very nearly
> 300 years. Maybe ever.