cynic69

A Selloff Follows the Out-of-the-Blue Rally - Not Good

Hey Jack! Your polyanna view of the world is total nonsense. We have passed peak oil and we are experiencing the first stages of the "peak oil death spiral". Check out this web site: www.ibisworld.com/indu... It says that as folks curtail there driving due to higher gasoline prices fewer mechanics will be required. The auto business is one of the major components of our economy and as thousands of mechanics are layed off the loss of revenue is going to snake through our economy like a deadly cancer. This same situation exists for the airline industry. The truth is that with oil at these prices stocks are only worth about 25% of their current value. When "investors" finally figure this out its Katy bar the door. If you think the price of energy is going down soon I think you are right. With the world in a sever recession far less energy will be required.

Who's Really to Blame for Rising Oil?

Jason
This is a stupid article. The world has run out of cheap oil. There was a finite supply of "easy to get crude" and we humans, being stupid, greedy and unwise, have pumped it out of the ground and burned it in our cars (currently 600,000,000 worldwide). The traders know that oil is a declining resource and that that there is essentially no risk to being long in oil futures. The price of gold is a declining resource and the price of that commodity is skyrocketing also. Since the price of everything in our civilization is a function of the price of crude, rising oil prices are going to cause starvation, chaos and financial depression. This cynical view of the future is shared by some of the greatest scientest in the country. Because of the way oil futures work the refiners and manufacturers have yet to pass on the cost of $100 oil. When they do our ecnomy is going to be sucked down the flusher.

Good luck to you folks that think that high energy prices are a temporary bump in the road and can be solved by shooting the commodity traders.