King of Sanity

Saudi Talk and Production Bring Down Oil Price

The rest of the OPEC countries will follow suite with the Saudis to bring prices down to the $50--$60 PPB range that will hold steady through at least 2012 or longer. This will in turn go a long way with helping our economy to rebound with steady growth similar to what we experienced in the mid 90s.

Oil at New Highs: Heading to the Exit Lane

The end is near. Soon it will not matter if oil is $10.00 or $1.00 per gallon. We are heading for an economic collapse that will dwarf what went down in 1929. I hope that I am 100% wrong, but all of the signs are pointing more and more with each passing day to a very bleak, long term outlook that is going to turn our world upside down. All I can say is enjoy these last few days of the good life and prepare yourself for the economic horrors that are just around the corner.

How Big a Contribution Comes from Oil Speculation?

User 190596:

Take speculators out of the oil pricing loop; then we have $50.00-$65.00 per barrel prices that remain stable of the long course. Prior to the advent of the internet, speculators did not have a tool that could effect oil prices overnight. Something must be done very soon to bring speculators under control or we will be paying $8.00 or more per gallon and our entire economy will fall into ruins that may never recover for the long term. We are in a much more dangerous situation than most people realize. Once they realize what is going on, it will be too late to fix the problem. This is why it is so important that swift action take place, and ASAP.


On Jun 26 11:57 AM User 190596 wrote:

> Hamilton is correct. If OIL price isn't 30% to 60% speculation, then
> why does oil jump $10 every time a gun is fired in Nigeria or Israel
> fires up a jet engine. This has very little to do with fundamentals.
> There are no gas lines and there is ample supply for the foreseeable
> future.

Energy Inventories

I believe this report about as much as I do in the "Great Pumpkin" What oil company in their right, but greedy mind, would ever say their inventories are down. Why should they? Because this would expose the truth of the matter and they would have to own up to their lies. Until we purge this pathetic Bush administration out of office this fall, we are never going to make headway with getting to the bottom of the oil crisis. Just think, we were about 575 votes away in the "sunshine state" from having another period of peace and lots of cheap oil. Bush has been nothing short of an absolute disaster for our nation, the Middle East, and the rest of the world. Please. please, no more pathetic republican administrations!

The 'Peak Oil' Myth: New Oil Is Plentiful

Thank you Jason!!! Thank You!! You are the "John the Baptist" that is giving us the truth of the oil situation. You are so dead right on the money. The so called oil crisis is much akin to man who built his house on sand. When you expose the so called crisis, is has no legs to stand on. We have more oil on this planet than we have mosquitoes. Yes, we will run out of oil one day. But by then, our great-great-great-grea... grandchildren will have technology available that far surpasses our wildest dreams. We were duped in the early 70s with false shortages, and we are being duped today by those whose main goal is to shake down the average motorist while they can before being exposed for what they really are. The speculators are 90% of the problem. A great way to bring this theft to a grinding halt would be to enact a tax that would cost speculators 85% of their profits for anything over $65.00 per barrel. I have heard that over 70% of the infamous speculators come from the good ole USA. Some may say that this is interfering with the free market economy. Speculators are the ones that are abusing the free market concept in the absolute worst way.

Will a Drop in Oil Trigger a Market Recovery?

Hello???? Am I hearing this straight?? What in God's green earth will it take to understand just how bad our economy and those of industrialized countries are going to get if oil does not drop to well below the $100.00 to at least $50.00-$65.00 and remain at that level for at least 3-5 years. If this happens, we will see a bull market equal to, or surpass that of the 80's. There is absolutely no way that our economy can withstand oil prices over $100.00 for the long term. For anyone to insinuate that our economy or any industrialized economy can prosper with oil prices over $100.00, must have flunked out of trade school. whether we like it or not, energy is the catalyst that drives our economy. To say otherwise is just plain foolish.

Reasons to Love 3-Digit Oil

Hello??? If oil hits $240.00 per barrel, who besides Bill Gates, Warren Buffet, and the Bush family will be able to put more than 1/2 a gallon per week in their car? If oil even remotely comes close to $240.00 per barrel, the games over. Oil must drop well bellow $100.00 per barrel to at least $50.00-$60.00 per barrel and stay that way for more than just a few months if our economy is ever going to realize any stability and healthy growth. Whoever lives in the White House for the next 4-8 years must do whatever is necessary to keep oil prices stable at a reasonable price. Very high gas prices will hurt our economy way beyond our worst fears.

Economics of Oil Futures Trading, Part I

I cannot see any justification for the price of oil whether it be instant riches for speculators or CEO's needing to buy an extra chalet or two in Aspen. One day we hear that there is a shortage in supply due an ongoing ever increasing demand that is driving the price through the roof. The next day we hear that demand is down in the US, but China and India's demand offsets any drop in US demand. Then the next day we hear that although demand is down in the large industrialized countries, refineries do not have the storage capacity for increased supply thus creating a shortage of supply. It sounds like if one excuse is spot lighted, another pops up in attempt to justifiy the high prices. It sounds like when you catch a child in the act of doing something wrong, they instantly come up with another excuse to stay out of trouble. I hope that OPEC and the Saudi's flood the market to the point where the bottom falls out to the tune of $40.00 for a barrel of crude and all of the greedy speculators get burned to the point to where they will keep a safe distance from bidding on oil futures for a long, long time.