G. L. Turner

High Gold Prices: It's the Oil, Stupid

Re: Natural Gas -

The reason that NG is not being used in the US is because Gov. Sachs has not figured out a way to control the 'global price' of NG - perhaps, its because this is a domestic resource that can't be manipulated through ICE.

Second: Since each beef steer consumes the equivalent of 155 gallons of gasoline in its short lifetime, and the American Public eats a huge amount of meat, to it severe detriment and that of the planet, on average and across the board - at least once every day...about 7 times the average amount around the globe - we if would just cut back our beef consumption by half...we would most probably cut our imports of foreign oil by close to half. This would substantially improve our health, save alot of money domestically (personal budgets/health carecosts) and reduce our foreign outflows by a significant amount as well as make a decent impact on carbon emissions...and most importantly, all this cost us nothing...

Go figure!

Consumer Confidence Dips Due to Jobs - And the Price of Oil?

Ferndinand, to claim to be such an expert, you constantly show your bias and ignorance, Just read the article in SA yesterday (or the day before) about the amount of hedge fund/GS/MS/JPM money ("managed money") that had poured into long positions in just the last 3 weeks.

You have got to be a shill for one or several of these WS pariah!

Please get your facts straight instead of trying to lead us down some 'intended' path of maya.

World Recovery Is in the Hands of OPEC

The SECOND Best article in a while...both here today....

I have been faxing the Obama Admin and CFTC and key Senators weekly for almost two years now, especially my friend Mike M showed us the reality in the futures markets...

We are in a hell of a bind...here at home with our domestic speculators (GS, JPM, MS) ready and willing undermine our economy and future for thier own gain, and then whole new market giant (Asia) available to OPEC. (See Ron Hera's Article here today...)

We had better wake up and get our act together with reform/regs here and with a cogent, government led commodity trading policy that deals with securing oil (and other resources) for us, pronto...or we will see another speculator come after our economy - that of the Dragon, just as soon as they get the rest of the world to shift off the petrodollar as the reserve...

The future will be interest, with nowhere to hide....

China’s Dragons: Oil, Gold, and the U.S. Dollar

Best damn article I've read in years!

Kudos to You, Ron.
A brillant reading of the road map as the East Rises!

As we look at the events, globally, of 2008, and then recall of how proud those Asian faces looked on TV during the Olympics and see, vai this article, how closer the Chinese are to 'shifting' economic power, it is scary.

More interesting, all this was predicted in the 5K year olkd Mayan Calendar, that said the East would assume dominance, taking it away from North America, between 2008 and 2012.

This article is an indication that the prediction is fast becoming true....

Gasoline and Diesel Fuel Prices: Scaring Investors in Time for Halloween

Once again the name gov sachs jumps up in an article as the "culprit" behind a sinister group that is 'messing with the markets', moving them away form fundamentals and controlling them for personal gain.

What Bob is citing above is "the way it is suppose to work" - you know, natural industry (inventory tax) and seasonal cycles.

The problem ow is this...GS, JPM and MS and seen how they can corral as little as $9BN and situated it in the energy futures market and then sit back and move the price up or down...have you noticed how the Oil and Gas has moved smoothly in cycles of $10 - $63 to $74, and RBOB between $165 and $2.07, in 2 to 4 week swing directions since March..all the time the fundamentals not changing, but with 'excuses' derived form any and all upticks in economic news or mild swings in the currency? See, this alows for them to 'push' up the prices based on these tidbits for two weeks, and then short back the prices after others have flowed in, leaning back on the s/d funda argument for a couple of weeks...only to do it all over again the next month...Just like paying a sweet violin.

How do you like the concert America, just when you are struggling to get back on your feet and the price of gasoline is the fastest and best way to either help or hurt 95% of all Americans, Government and Small to Mid-size business...
Time for this sad song/concert and now new business style to go away!

Where is our CFTC regs we were promised by Obama?....Getting short on patience with that dude too, now.

Crude Oil and Gasoline Prices: Like Déjà Vu All Over Again

It is good to see that the majority of posters here have "finally caught on"...save Saildog and yank...

If you listened to CNBC this AM (Oct 12th) you would have seen how they are "back in the game of being GS and JPM's shills" (including Kilduff) again to promote higher OIL, Gasoline, Diesel and Heating Oil prices....I had to call them and complain...YES, the energy markets are now controlled by a few WS firms...it only takes $9B to control the global price of oil in the markets...That is not much money ofr these firms and a few of their hedge fund clients to poney up and move the market...

Also, I thought the GS' Murti rolled out the "promotional" $150 to $200 prediction in early May of 2008, setting up the push towards the $147 high, a high that stop at that point as a result of the sense that teh rally was over since the golden boys had already slipped moved mid-June with the "big short", a month ahead of their 'sheeple clients' realizing that "something had happened" to the dream...but, we had a shadow culprit - "sub-prime" to point to divert attention. Hmmm.

Fisking Scientific American on Peak Oil

jerrydd -

It is absurd to say the the world hit peak oil last year when oil hit $147/barrel. Supply was increasing ahead of demand that had already begun to fall...

Rather, that is exactly what those "financial engineers" on WS and down in Houston wanted you to believe, and you do.

The reason oil dropped so quickly from mid-July to Dec. is that the perpetrators of this myth had decided that it was just too risky to continue to promote their nonsense, given the political heat that was building and the hearings that were underway.

It would be a shame if "their games" really were exposed, for then we might just get some real regulation, then "the game" would not be able to be played again this year, and the next, and the next....

So, they shorted, made huge profits on the down side....and were back at it this year, even as Gensler putzed around threatening regulation changes while he dragged his feet and delayed real action.

We won't see those high prices in the near term due to constraints in supply. Rather, we will see them again soon only because of no changes in margin requirements and little to NO transparency in the futures markets..
That's a lot of specualtive profit to see slip away...so

The ABCs of Oil Manipulation

OK - This is great info, Chris. Thanks!!

And, you have 'been in the trenches' and know of that which you speak...this is exactly what I was telling the Dem Congress last year, try telling the Reps, but hey, you know who they march to...

Now, can we get this info through to Obama and Gensler??

Can we get the greed meister's out of teh markets and government too and get back to having markets and an economy that works for all of us?

Noticed the Oil Backup?

Tobi, You are right on point!

Were Oil Traders Too Bullish?

Hmmm...Hardwood, you are usual on point! you wrote: "The best article I ever saw was written by two guys from Stanford who did an analysis that World Wide oil could be controlled with just $11Bln. Hum, so a market that has the power to destroy our GDP and economy can be controlled with just $11BLn. Now, I know we are all altruistic investors but what if some people got together and decided that they would sell the dollar short bid oil up and short the dow on the basis of the negative feedback loop would raise input costs to producers creating a margin squeeze then they would have to raise prices to consumers- thus killing the consumer. Now, how much money could be made off such a trade? Maybe we should ask Soros."

So, let's ask further, who got some extra pocket change from Mr. Paulson a few months back - I believe it was some $13BN channeled through AIG's rescue...so we could lay off $11BN in the oil futures trade and use the other two between shorting the dollar and the Dow...and this was money that was 'supposedly already lost'...so it makes real good dice-rolling dough, right?

Hmmm...wonder who has that kind of pocket change??

Time to Short Oil?

as 'untrusting' says: "But as has been pointed out by numerous authors .... when you have Goldman Sachs and 2% of the traders (High Frequency Traders, quants, algos) trading between 50-70% of the entire daily volume on the market, you get that disconnect."

Yep, ole Gov Sachs has become quite adept at leader alot of sheeple into these rallies, most of them their clients, and then taking a short position for their "in-house" positions...raking it ina fter getting the fees for placing thier clients in the mix...

Oh well, another day at teh office for the Greed Meisters, as the rest of the world burns.

My next question is this - Does Exxon and Conoco call up ole Lloyd and ask if they can up their refining capacity or should they lower it and for how long? The RBOB up and down, in the face of fundamentals that suggest it should be around $1.55, is quite a hoax at best. Some sheeple are going to get creamed better on these rallies....again!

Remember $20 Oil? Looks Like It's Coming Back

Verleger is "HOT AIR"!!!

Last year, his personal 'testimony' via a report for ole' Oil/banker Senator himself, Pete Dominci, to be read to counter Mike Master's accurate contention that financial, long investor 'speculators' were causing severe price mis-allocations in the futures market, said that - "$147 Oil was strictly supply and demand related..."

course if this had been the case, oil would NOT have turned on a dime so quickly crashed so fast last July like it did!

The only thing that could have done that was when the supreme greed meister, GOVERNMENT SACHS, had gottne everyone in the game and knew it was time to 'get out first' and decided to pull the plug by being the first "to short' in mid-June!!

OIL will run between $55 to $68 for the balance of 2009...providing that Gov Sachs doesn't buy up the new CFTC' this fall...

Link Between Large Oil Price Changes and GDP: It's Not What You Think

In the initial rise in oil prices, in normal times - meaning that the GS CIF and other manipulation is not the main driver - the price of oil is reflecting the expansion of the economy, as it should. However, as one commentor suggested, and as I think too, a more appropriate look-see would be to examine the next 2/3 Qs that followed, and see what actually happens. Also, maybe 20% is the pinnacle as to where oil can rise in a 'growth tandem' with the economy, oil prices helping to support GDP - "to a point!"

My question then, what is the effect on GDP when oil continues to rise above the inflection point of 20%.

In my business, I see a rather large knee-jerk reaction to a 50 cent rise in gasoline prices, and have rolled up and down since mid-2005, following Bush's OIL COMPANY mergers, that have pushed us to a doulbling to tripling price tier ever since the mergers. Many business start to feel such pinches, gradually...however, 50 cents in gas does not necessarily translate, or stem from a 20% rise in oil....

CFTC: Fire Up the Lobbying Machine

Right On, Bone Yard! - you get it!

Oil to Retest $40/Barrel by Year-End?

Let's go back to Fundamentals, GUYS!

Remember last mid-spring in Congress, the top US OIL Execs adn Shell and BP US, testified that they were quite pleased with oil at $65...they coule drill and refine adn make money...OIL was @ $90-95 at the time, and climbing. (In later hearings, when the Reps really didn't want the Spot Limits and sunlight to fall on Gov Sachs' actions, they raised the price range to about $90..."cause of Iran tensions and the dollar".

60 to 90 days later, it was headed back to the $65 range...

The Saudis told Bush in January 2008, when oil was moving through $75 towards $90, (round 2), that he needed NOT to ask them to pump more - there was not a shortage! Rather, it was "OUR FINANCIAL SPECULATORS" that were driving the prices up...BUSH scoffed, and they rightly sent him home, empty-handed. You got that, the Saudis told us that we had already run the price up too much...adn that if we didn't turn the problem around, we were headed for a global recession (geez, how many times that I write that?) --- But, now, only housing could cause recessions....

Iran, Russia and Bush played a 'comment/speculation' game using 'threatening comments' on the world stage all spring, when things were quiet, CBNC, a shill for the Reps and GS/JPM, taking their cue from Gov Sachs, kept telling us the dollar was weak and that OIL needed to be higher. That China and India, who statistically did not 'move markets' were moving them in earth shakeningly ways...

So, we let these Greed Meisters wet the appetites of OPEC, Russia and Vene, and we trained them to like the taste of $75 - $80 OIL. So, now, by using our only tool - a torn and battered economy, can we wean them of those price ranges, and get the reality of $65 OIL back into the global economy...

When we stop letting those who 'control' without regrds to the damage their greed causes, we will see our economy rebound and prosperity return...In the meantime, it has/is relocating to the East!
GT