JREwing

Crude Oil: Congress Acts, Iran Hoards, RTX Soars

Oh yes jason, laws.

Let's make some laws. Considering the guys, who make the laws, I am not looking forward to this.

Let's take away some freedom in order to make little jjason feel better. Socialists of the world unite! You guys are really little people in more than one sense.

The US once almost regulated itself to death. Let's do that again. That makes sense. Let's have every part of our lives regulated by the government. I am sure this will be an improvement.

Commodity bubble proponent

Goldman has tank farms? How desperate are you? I bet they have tanks deep beneath Manhattan where they a re hoarding trillions of megatons of oil in order to make you suffer. MUHAHAHAHA!

Dude, You should see someone about that.

This site is full of commentators and contributers who want to take part in the capital markets. As soon as the market doesn't do what they want it to do, they turn communist and demand regulation and taxation.

That is the behavior of a loser. There are some commentators who argue with logic and valid facts and numbers. However most folks around here simply are great reminders of the fact, that democracy is not perfect.

I will delete SA from my favs and will never again go to this site.

Crude Oil: Congress Acts, Iran Hoards, RTX Soars

What has the housing bubble to do with the amount of land?

I just said oil won't crash. A lot of people can afford it. Doesn't seem to me, that gas is too expensive. As long as there are people drag racing towards red lights, I guess there is some upside left.

The economy is either going to adapt by a more efficient use, or it will go to hell. Big Deal.

It astonishes me every day, how worked up people get, when it comes to oil.

Crude Oil: Congress Acts, Iran Hoards, RTX Soars

Capitalism rules.

Oil won't crash. Looks to me like some of those 'Third World' guys are in a better position to afford the stuff, than us.

How can something finite last forever?

Crude Oil: Congress Acts, Iran Hoards, RTX Soars

Baltic Dry is almost at a new high, Singapore's economy seems to be doing fine, so is Japan and Indonesia, even Germany... all despite a so called US recession (still waiting for that one).

THERE IS JUST NO REASON IN THE WORLD, WHY OIL SHOULDN'T BE WHERE IT IS!

Crude Oil: Congress Acts, Iran Hoards, RTX Soars

I am so relieved. Now that congress acts, things must be getting better. (sarcasm)

Calling this act a farm bill is a contradiction in terms. If politicians around the world haven't regulated the agricultural sector to death for decades, there wouldn't be a shortage of food, today.

Every time some fool in some government tries to make food (or oil for that matter) cheaper than it would be normally, they make it more expensive, because they take away the incentive from the producers to produce more.

Then they have to subsidize farms and make food more expensive once again, because - unbelievably but true - taxpayers eat, too.


About the new refineries in India:

Reliance is gonna make a killing on those big boys.

Assuming demand for petroleum products will be flat until the end of time, we should be fine. I guess this justifies 10$ oil. (sarcasm again)

About the Russians:

The Lukoil boss said, that russian crude production will peak this year, and then fall. He didn't say it already happened. I going to believe him more than some Russian government dude. Wouldn't believe one of those, if he said water was wet. (Not sarcasm)

And if the Russians want to give a tax incentive for more oil production, why did they hike the export tax once again in April?

What’s Driving Oil Higher? It’s the Dollar, Stupid!

CLH

If I remember the 70s correctly, the Mainland Chinese rode bicycles, Indians drove scooters and Brazilians were busy dancing samba.

The story back then was an attempt by the OPEC nations (no doubt motivated by the Sowjets, since none of the OPEC nations ever gave a damn about the Palestinians) to blackmail the West. An abrupt shortage of oil led to economic chaos in the west, since oil determines the price of everything, back then even more than now.

That's a little different than 25 years of underinvestment in the oil business and tremendous physical demand from emerging nations.

Do your homework, Sir.

The New Peak Oil: Peak Demand

I am totally on board with the deepwater thing. I am far less sceptic about that, than the public seems to be.

I have positions in RIG, NE, PBR for almost 3 years.

The New Peak Oil: Peak Demand

Ethanol is ridiculous.

First: Yes I know, ethanol from sugar cane makes more sense, then ethanol from corn, but please what do you do, when there is a drought for 3 years in such a region, what do you do, when there is an invasion of parasites (wouldn't be the first monoculture to be annihilated), what do you, if a serious of storms devastate the crop? Do you leave your car in the garage for on season?

Second: How do you justify, that in some countries people fight over food in the streets and we burn it?

The New Peak Oil: Peak Demand

First: New oil won't be discovered, with cheap oil.

Second: Does it makes sense to chop down the Amazon in order to burn sugar??

Looks to me, that this is ecologically unsound.

Check out this link:

www.reuters.com/articl...

The New Peak Oil: Peak Demand

No, I am just a small investor, who reads a lot about the oil business.

The New Peak Oil: Peak Demand

Eric

I didn't call you a communist, because of the demand destruction thing. I called you a communist, because of the SPR interventionist thing.

What’s Driving Oil Higher? It’s the Dollar, Stupid!

If interest rates were impacting exchange rates, the dollar would have outperformed the Euro until the Fed started to cut.

The New Peak Oil: Peak Demand

An improvement over the last article.

While it is true, that THANKS to higher oil prices there have been significant new discoveries, the author seems to neglect the fact, that existing fields are being depleted while new production comes online. Methods to enhance daily output on existing fields also accelerates their depletion rate.

Oil prices only will come down under following conditions:

1. A worldwide recession.(In which case I want to be short of everything, not just oil)

2. Petrol products are no longer the primary source for transportation fuels. (I guess that is gonna take some time)

3. The end of the world. (In that case I don't care if I am long or short of anything)

Lastly, I said in another post, that low prices will kill low prices. 75$ oil will make difficult production unprofitable. Oil companies won't eat that loss.

What’s Driving Oil Higher? It’s the Dollar, Stupid!

To say, that the rise in oil prices is purely a reaction to the falling dollar is simplistic and it's really getting old.

The most recent records in oil were not accompanied by new record lows of the dollar.

If anything it is much more likely, that the opposite is true. High oil prices cause the trade gap to widen and then weaken the dollar.

The EURO is a bubble. Some one should tell the FX market, that they have lots of private and public deficits and they have a negative trade balance, too. And they import virtually all their oil, since North Sea oil is mostly british and norwegian.

P.S. I really don't get the author's thoughts on inflation. I always thought, that a rise in prices SHOWS inflation and not that inflation CAUSES a rise in prices.

Bespoke's Commodity Snapshot (5/12/08)

Thanx, guys very interesting as always.

The oil chart looks very orderly compared to some of the others.