Rikiki

Oil: Long-Term Bull Still Intact; Short-Term Weakness Should Persist

Shiv,

Excellent article. You background in Petro shows .

Rikiki

Oil: Long-Term Bull Still Intact; Short-Term Weakness Should Persist

CHL et. al.

The oil production countries are not exactly the most stable in this world. Any conflagration, assination, revolution, or inter-tribal wars can easily spike oil by huge amonts in a very short time.

In short, oil, oil futures and oil stocks are mega risky. Suggest you consider puts on all your long stocks and calls on all your short stocks.

Consider the following risky oil producers as my case in point:

Iraq, Iran, Saudi, Nigeria, Venezuela, Russia and China.

If you are bullish consider Longer term call spreads on DIG; If bearish use the DUG call spreads. Limit your losses (and gains).... but predictable max and min $ for positions.

RIkiki

OPEC Embarks on a Fool's Mission

Michael,

How can you persist in calling "Peak Oil" a theory. When there is a finite quantity of ANY product or resource that is being consumed grand scale, you will have a "Peak XXXXXX" There are capped oil wells in both east and west Texas that reached their peak production prior to 1962. There are entire oil fields in California that reached peak production at mid century. There are regions such as the Permian Basin in west Texas and east New Mexico and Catarell in Mexico which have been in decline for over a decade. And, indeed, there are countries that are pumping less every year. The pool is being sucked dry worldwide. While some field's production is questionable ( i.e. Saudi), others are yet being discovered. Yes, Russia is pumping more and may not peak for some time but Norway and UK have to look forward to a lot less from the North sea platforms.

The point is that you (all countries) have proof that harvesting non-renewable, non-recyclable "stuff" is in decline. There is no argument here, scientific or otherwise, to dispute this "law of use and depletion of non-renewable resources". So it is not a theory. It is provable!

AGW, on the other hand, has hundreds of variables, modeling and outright guessing based upon short historical patterns of climate. There is no "proof" one way or the other that global warming is anthropogenic. I believe most in the field of climatology simply say there is no proof. Therefore, like Einsteins Theory of Relativity, AGW will remain a theory.

Proof, Michael.


Rikiki

Congressional Insanity: Sue OPEC over Oil Prices

Our intelligent public servants elected by our educated populace at work! There should be only be two absolutely mandatory requirements before running for public office in both Federal and State governments.

1. Every public elected individual must personally prepare his own income tax returns within 8 clock hours and be audited by the respective Federal and State taxing authorities.
2. Every public elected official must take and obtain a certified "B" or better grade in college level "Economics 1" and in high school level "ethics".

There should be also a limiting of terms of office for these arrogant condescending twits.

Rikiki
MN, CA, HI, WA, TX

Drivers Are Feeling the Pinch

Most respondents to the "Oil crisis
completely skip the second half of the Supply/Demand equation. I see tremendous waste of gasoline and diesel fuel here in Texas and around the country in summer.

1. Each summer nearly every county road and highway is sheared by gasoline and diesel tractors which pull huge rotary mowers to mow medians and shoulders of roads ( sometimes dozens of feet wide). When did this "beautification" or "fire abatement procedure" become so required of nearly every county in the country? How many millions of gallons of fuel are wasted. How many tractors sit idle 9 or 10 months of the year.

2. Each summer millions of households mow the lawan many times a summer. And how many millions of weed whackers/trimmers (gas/oil poluters) run hours each summer. Here in Texas $3-4000 riding mowers are common place. And there are A LOT OF THEM.

3. Texas Drivers routinely let their cars set in parking lots with engines running even on temperate days and nights. Diesel pickup drivers are the worst offenders. Texans are BIG WASTERS! I have lived in many other states than Texas.....! I even witnessed a brand new Volvo in the Post Office lot in Cedar Park, TX on an 80 degree day running for at leas 20 minutes while I was mailing a package. There was no person or animal in the car. Destroyed my illusion about Volvo drivers being "Tree huggers"

3. Independent truckers routinely let their rigs run for hours on end especially in summer overnight. A Kenworth size rig will burn near 2 gallons just running at idle. The independents bitch about fuel prices and yet they seem to be the worst wasters. Go figure. Hey guys check into an airconditioned motel and turn the engine off!

Conservation and wise use of a limited resource can help reduce the demand side of the equation. I have no real hope for counties to do the conservation thing.... they will just bury the increased fuel cost for mowing in the budget and then raise your taxes to cover it.

Rikiki
Round Rock, Texas