John Eickholt

The Global Oil Scam: 50 Times Bigger than Madoff

Great story, and this story needs to be seen by every American. Fadel Gheits knows it true. Why does the person that reports the inventories number have to talk to a trader after the numbers. Why is it when Phil Flynn went bearish on oil CNBC didn't want him back?

Fadel Gheits is the one guy that CNBC won't bring on.

seekingalpha.com/artic......

FG: Two things. Oil prices have not been driven by supply and demand
fundamentals for years. This was exacerbated by the incredible influx of
money from financial players into the commodity markets over the last five
years and especially oil, which basically created the oil bubble that we had
last year. Supply and demand fundamentals are beginning to play a secondary
role now in oil prices. Financial players have much more clout and basically
manipulate-influence, if not manipulate-oil prices; that is very clear.
That's why we have the investigation by the CFTC and all the hearings. I am
not holding my breath to see any changes because the politically motivated
individuals and the incredible lobbying by financial institutions make it
very, very difficult to regulate or enforce regulations in the books to stem
that incredible increase in financial institution influence on the commodity
prices.

TER: So do you have a view as to where oil is going to go over the next 6 to
12 months?

FG: I can tell you oil prices will remain inflated and not fully reflect
supply and demand fundamentals. I just got a call from the Kuwait National
Oil Company. They are wondering when this is going to end. I said, don't
hold your breath. It's not going to end. They basically believe what I
believe-that financial players are more in control now than oil companies or
OPEC or anybody else. They play on the perception or the outlook-oh, OPEC is
going to cut production. Okay, then they jack up, they start making bets
that oil prices will go higher. We have not had any supply problems with the
brief exception of the hurricane and, even with the hurricane, the fact of
the matter is that the hurricane impaired our refining capacity more than
oil supply. The Kuwait guy was just telling me that after Hurricanes Rita
and Katrina, everybody said, 'oh, send us more oil.' He said, why do you
need more oil? You don't have the refining capacity to process the oil.
There's no shortage, yet oil prices obviously moved up very sharply because
financial players, again, gave this perception that, my God, we're going to
run out of this or out of that. But in fact, we had a shortage of gasoline
not because we did not have enough oil. It's because we didn't have enough
facilities available to process the oil that we have.

The Global Oil Scam: 50 Times Bigger than Madoff

Great story, and this story needs to be seen by every American. Fadel Gheits knows it true. Why does the person that reports the inventories number have to talk to a trader after the numbers. Why is it when Phil Flynn went bearish on oil CNBC didn't want him back?

Fadel Gheits is the one guy that CNBC won't bring on.

seekingalpha.com/artic......

FG: Two things. Oil prices have not been driven by supply and demand
fundamentals for years. This was exacerbated by the incredible influx of
money from financial players into the commodity markets over the last five
years and especially oil, which basically created the oil bubble that we had
last year. Supply and demand fundamentals are beginning to play a secondary
role now in oil prices. Financial players have much more clout and basically
manipulate-influence, if not manipulate-oil prices; that is very clear.
That's why we have the investigation by the CFTC and all the hearings. I am
not holding my breath to see any changes because the politically motivated
individuals and the incredible lobbying by financial institutions make it
very, very difficult to regulate or enforce regulations in the books to stem
that incredible increase in financial institution influence on the commodity
prices.

TER: So do you have a view as to where oil is going to go over the next 6 to
12 months?

FG: I can tell you oil prices will remain inflated and not fully reflect
supply and demand fundamentals. I just got a call from the Kuwait National
Oil Company. They are wondering when this is going to end. I said, don't
hold your breath. It's not going to end. They basically believe what I
believe-that financial players are more in control now than oil companies or
OPEC or anybody else. They play on the perception or the outlook-oh, OPEC is
going to cut production. Okay, then they jack up, they start making bets
that oil prices will go higher. We have not had any supply problems with the
brief exception of the hurricane and, even with the hurricane, the fact of
the matter is that the hurricane impaired our refining capacity more than
oil supply. The Kuwait guy was just telling me that after Hurricanes Rita
and Katrina, everybody said, 'oh, send us more oil.' He said, why do you
need more oil? You don't have the refining capacity to process the oil.
There's no shortage, yet oil prices obviously moved up very sharply because
financial players, again, gave this perception that, my God, we're going to
run out of this or out of that. But in fact, we had a shortage of gasoline
not because we did not have enough oil. It's because we didn't have enough
facilities available to process the oil that we have.

Don't Believe Long-Term Oil Forecasts

Oil has been manipulated for years with the Hype of weather, China and India. Just like today the weather Hurricane Ida that has been downgraded.
Some facts from last weeks Gov. inventory report.

Distillate fuel demand has averaged 3.6 million barrels per day over the
last
four weeks, down by 14.8 percent from the same period last year. Jet fuel
demand is 3.1 percent lower over the last four weeks compared to the same
four-week period last year.

www.eia.doe.gov/pub/oi...

Distillate fuel move our goods and services. This is down 14.8% from last year. Even with this news they want to trade up prices for Greed.
A story from Fadel Gheits about oil prices.

Fadel Gheits is the one guy that CNBC won't bring on.

seekingalpha.com/artic......

FG: Two things. Oil prices have not been driven by supply and demand
fundamentals for years. This was exacerbated by the incredible influx of
money from financial players into the commodity markets over the last five
years and especially oil, which basically created the oil bubble that we had
last year. Supply and demand fundamentals are beginning to play a secondary
role now in oil prices. Financial players have much more clout and basically
manipulate-influence, if not manipulate-oil prices; that is very clear.
That's why we have the investigation by the CFTC and all the hearings. I am
not holding my breath to see any changes because the politically motivated
individuals and the incredible lobbying by financial institutions make it
very, very difficult to regulate or enforce regulations in the books to stem
that incredible increase in financial institution influence on the commodity
prices.

I hope these oil traders will have to drink the oil for their New Years EVE drink.

Wall Street: Dumb as It Ever Was

Just like last years oil bubble. It was all hype by our business media that drove the money into oil.
Now CNBC is using the weak dollar for the reason. Who to say it isn't the same people manipulating oil prices, that might be manipulating the price of the dollar.
Demand for Distillates down 18.8% but their still bidding up the price.
seekingalpha.com/artic...


www.reuters.com/articl...


On Nov 07 11:43 AM Billy Ford wrote:

> I believe the market is being completely manipulated. This administration
> knows that sentiment is mostly driven by the stock market. Notice
> how last year when the market was tanking sentiment was at all time
> lows, but today because the market has unjustifiably been rising
> for 7-8 months, that sentiment is better. People, are our economy
> is worse today than it was last year. The administration and they
> guys pulling the strings are hoping and praying each night that this
> consumer sentiment will eventually catch up and people will feel
> comfortable going out and spending money. What will happen when we
> face reality and know that the fundamentals associated with +10%
> unemployment will trump sentiment. The people with money, who can
> influence economies the most see through these charades, and truly
> realize that we are not recovering fundamentally. The only thing
> recovering is a manipulated stock market, which in itself is a bubble
> waiting to burst. Just a few questions that I ask myself. If we are
> recovering as the market suggests, then why is fed not even considering
> raising rates? It's simple, because fundamentally nothing is happening.
> Where is this stimulus going? It certainly isn't being used to fuel
> any kind of recovery, unless recovery is banks hoarding cash to cover
> losses from last year and expected losses of the future. People wake
> up, banks are hoarding cash for a reason, they are expecting MAJOR
> losses in the future. Other companies are hitting targets because
> of one thing, cost cutting. What happens when there are no more costs
> to cut, and we continue to see top line revenues flat? Yes, I am
> a bear and I believe our country has seen its best years. Manipulation
> can only work for short periods of time, and it will be only a matter
> of time before the rest of you wake up and see that we are way worse
> off than the media and the government play it out to be.

Wall Street: Dumb as It Ever Was

Thanks you,Todd Kenyon.
For 8 years CNBC was the Doom and Gloom machine. Now CNBC is market cheerleaders. Also in the 90's every day they had someone on pumping Enron and Worldcom. Remember they call the guest that they have on, and they know what is going to be said.Remember the week before a Goldman Sachs analyst lowered his GDP forecast to 2.7 %
A big story on CNBC, the next day the number comes out at 3.5%. They also lead guest into saying something good about GE. CNBC has T Booone Pickens, John Kilduff, Ray Carbone and Addison Armstrong to drive up oil prices.
They drove the money into oil, which has more than doubled since March. Wholesale unleaded gas was 80 cents a gallon on last Dec 31, today it $ 1.93. When Phil Flynn went bearish on oil they didn't want him anymore. Phil e-mailed me, and told me this.
Fadel Gheits is the one guy that CNBC won't bring on.

seekingalpha.com/artic......

FG: Two things. Oil prices have not been driven by supply and demand
fundamentals for years. This was exacerbated by the incredible influx of
money from financial players into the commodity markets over the last five
years and especially oil, which basically created the oil bubble that we had
last year. Supply and demand fundamentals are beginning to play a secondary
role now in oil prices. Financial players have much more clout and basically
manipulate-influence, if not manipulate-oil prices; that is very clear.
That's why we have the investigation by the CFTC and all the hearings. I am
not holding my breath to see any changes because the politically motivated
individuals and the incredible lobbying by financial institutions make it
very, very difficult to regulate or enforce regulations in the books to stem
that incredible increase in financial institution influence on the commodity
prices.

TER: So do you have a view as to where oil is going to go over the next 6 to
12 months?

FG: I can tell you oil prices will remain inflated and not fully reflect
supply and demand fundamentals. I just got a call from the Kuwait National
Oil Company. They are wondering when this is going to end. I said, don't
hold your breath. It's not going to end. They basically believe what I
believe-that financial players are more in control now than oil companies or
OPEC or anybody else. They play on the perception or the outlook-oh, OPEC is
going to cut production. Okay, then they jack up, they start making bets
that oil prices will go higher. We have not had any supply problems with the
brief exception of the hurricane and, even with the hurricane, the fact of
the matter is that the hurricane impaired our refining capacity more than
oil supply. The Kuwait guy was just telling me that after Hurricanes Rita
and Katrina, everybody said, 'oh, send us more oil.' He said, why do you
need more oil? You don't have the refining capacity to process the oil.
There's no shortage, yet oil prices obviously moved up very sharply because
financial players, again, gave this perception that, my God, we're going to
run out of this or out of that. But in fact, we had a shortage of gasoline
not because we did not have enough oil. It's because we didn't have enough
facilities available to process the oil that we have.

Global Markets in Review: Risky Assets Disconnect from Fundamentals

Oil traders at it again, sticking it to the American consumer. Thanks to the help of our media CNBC. Facts that oil went up 9% on the week.
refinery run rate down to 80.9%.
Distillate fuel demand has averaged 3.4 million barrels per day over the
last
four weeks, down by 10.8 percent from the same period last year. Jet fuel
demand is 3.5 percent lower over the last four weeks compared to the same
four-week period last year.
Fadel Gheits is the one guy that CNBC won't bring on.

seekingalpha.com/artic......

FG: Two things. Oil prices have not been driven by supply and demand
fundamentals for years. This was exacerbated by the incredible influx of
money from financial players into the commodity markets over the last five
years and especially oil, which basically created the oil bubble that we had
last year. Supply and demand fundamentals are beginning to play a secondary
role now in oil prices. Financial players have much more clout and basically
manipulate-influence, if not manipulate-oil prices; that is very clear.
That's why we have the investigation by the CFTC and all the hearings. I am
not holding my breath to see any changes because the politically motivated
individuals and the incredible lobbying by financial institutions make it
very, very difficult to regulate or enforce regulations in the books to stem
that incredible increase in financial institution influence on the commodity
prices.

TER: So do you have a view as to where oil is going to go over the next 6 to
12 months?

FG: I can tell you oil prices will remain inflated and not fully reflect
supply and demand fundamentals. I just got a call from the Kuwait National
Oil Company. They are wondering when this is going to end. I said, don't
hold your breath. It's not going to end. They basically believe what I
believe-that financial players are more in control now than oil companies or
OPEC or anybody else. They play on the perception or the outlook-oh, OPEC is
going to cut production. Okay, then they jack up, they start making bets
that oil prices will go higher. We have not had any supply problems with the
brief exception of the hurricane and, even with the hurricane, the fact of
the matter is that the hurricane impaired our refining capacity more than
oil supply. The Kuwait guy was just telling me that after Hurricanes Rita
and Katrina, everybody said, 'oh, send us more oil.' He said, why do you
need more oil? You don't have the refining capacity to process the oil.
There's no shortage, yet oil prices obviously moved up very sharply because
financial players, again, gave this perception that, my God, we're going to
run out of this or out of that. But in fact, we had a shortage of gasoline
not because we did not have enough oil. It's because we didn't have enough
facilities available to process the oil that we have.

Crude Will Reach $100 by December 2009

These jerks just don't get it, the world economy was killed by last years oil bubble. Now their back at it again. Right now there is a glut of oil on the market. Read the facts the trucker traffic and airline traffic is way down. Trucker use oil fuel down 9.3% Airline fuel down 13.9%

Wednesday EIA report
www.eia.doe.gov/pub/oi...
U.S. crude oil imports averaged nearly 9.3 million barrels per day last
week, up
247 thousand barrels per day from the previous week. Over the last four
weeks,
crude oil imports have averaged 9.2 million barrels per day, 628 thousand
barrels per day below the same four-week period last year. Total motor
gasoline
imports (including both finished gasoline and gasoline blending components)
last
week averaged 971 thousand barrels per day. Distillate fuel imports averaged
289
thousand barrels per day last week.

Total products supplied over the last four-week period has averaged 18.3
million
barrels per day, down by 6.6 percent compared to the similar period last
year.
Over the last four weeks, motor gasoline demand has averaged nearly 9.2
million
barrels per day, up by 0.4 percent from the same period last year.
Distillate
fuel demand has averaged 3.4 million barrels per day over the last four
weeks,
down by 9.3 percent from the same period last year. Jet fuel demand is 13.9
percent lower over the last four weeks compared to the same four-week period
last year.

Why I'd Buy Toyota, The #1 Automaker in the U.S.

Has Toyota help to build a American Hospital? Ford and GM have. What did Toyota give after 9/11? But Americans gave them free land and tax abatements for years. Toyota still imports almost 50% of what they sell here. I say lets hope Americans wake up and support American Co's.
When our Governments lets foreign products in this country cheaper than where they were made. Its very sad. The Prius is 100% built in Japan and sold for $1000 less here.

Someone Other than the Government Should Step Up to Restructure GM

To many talk and write about things and benefits at GM that they don't know anything about. GM employees have co-pays. The writer of this story must have been watching CNBC. They also talk about things they know nothing about. Its time the media has to back up what they print and talk about.. This country the people is lead like Sheep by our media.

More Bad News for GM

Why does everyone write a story about what is said on CNBC? After all CNBC is the Nation Terrorist network. They bash most companies , but Pimp for GE. They pimp for the Oil traders, that cost us higher Energy Costs. Last week they had T Boone Pickens on twice. Amercia would be better off if CNBC was shut DOWN.

Jim Lentz Lays Out Toyota's 2009 Expectations

Rick Newman should go back to Jan of 2008 and read some of Toyota perdictions for 2008. He is a 100% wrong. Why does so much of our media spread lies. All he has to do is Google last Jan Toyota stories.
This is his first part of his story.
(Hardly anybody wants to predict the future these days, since so many forecasts for 2008 turned out to be dead wrong. But Toyota (TM), with its timely hybrids and steady global growth, is as good as any company at guessing where the economy—and consumer tastes—are headed. Like most other carmakers, Toyota had a dreadful year in 2008, with U.S. sales off 15 percent, only slightly better than the 18 percent drop in the industry overall. I met recently with Jim Lentz, president of Toyota's North American arm, and discussed the outlook for consumers and the U.S. car industry. Excerpts:

It was obviously a terrible year in 2008. And some people think it will be worse in 2009. What does Toyota foresee? )

Looks likeRick Newman is treating Toyota with kid Gloves

Vote on Auto Bailout Sparks Senate Debate

From listening to some of the southern states senators against the big three bail out.The northern don't have Hurricanes and heathquakes.Why should we pay for them.


Who Killed Detroit?

by Patrick J. Buchanan (more by this author)

Posted 11/21/2008 ET

Who killed the U.S. auto industry?

To hear the media tell it, arrogant corporate chiefs failed to foresee
the demand for small, fuel-efficient cars and made gas-guzzling road-hog
SUVs no one wanted, while the clever, far-sighted Japanese, Germans and
Koreans prepared and built for the future.

I dissent. What killed Detroit was Washington, the government of the
United States, politicians, journalists and muckrakers who have long
harbored a deep animus against the manufacturing class that ran the
smokestack industries that won World War II.

As far back as the 1950s, an intellectual elite that produces mostly
methane had its knives out for the auto industry of which Ike's treasury
secretary, ex-GM chief Charles Wilson, had boasted, "What's good for America
is good for General Motors, and vice versa."

"Engine Charlie" was relentlessly mocked, even in Al Capp's L'il Abner
cartoon strip, where a bloviating "General Bullmoose" had as his motto,
"What's good for Bullmoose is good for America!"

How did Big Government do in the U.S. auto industry?

Washington imposed a minimum wage higher than the average wage in
war-devastated Germany and Japan. The Feds ordered that U.S. plants be made
the healthiest and safest worksites in the world, creating OSHA to see to
it. It enacted civil rights laws to ensure the labor force reflected our
diversity. Environmental laws came next, to ensure U.S. factories became the
most pollution-free on earth.

It then clamped fuel efficiency standards on the entire U.S. car
fleet.

Next, Washington imposed a corporate tax rate of 35 percent, raking
off another 15 percent of autoworkers' wages in Social Security payroll
taxes

State governments imposed income and sales taxes, and local
governments property taxes to subsidize services and schools.

The United Auto Workers struck repeatedly to win the highest wages and
most generous benefits on earth -- vacations, holidays, work breaks, health
care, pensions -- for workers and their families, and retirees.

Now there is nothing wrong with making U.S. plants the cleanest and
safest on earth or having U.S. autoworkers the highest-paid wage earners.

That is the dream, what we all wanted for America.

And under the 14th Amendment, GM, Ford and Chrysler had to obey the
same U.S. laws and pay at the same tax rates. Outside the United States,
however, there was and is no equality of standards or taxes.

Thus when America was thrust into the Global Economy, GM and Ford had
to compete with cars made overseas in factories in postwar Japan and
Germany, then Korea, where health and safety standards were much lower,
wages were a fraction of those paid U.S. workers, and taxes were and are
often forgiven on exports to the United States.

All three nations built "export-driven" economies.

The Beetle and early Japanese imports were made in factories where
wages were far beneath U.S. wages and working conditions would have gotten
U.S. auto executives sent to prison.

The competition was manifestly unfair, like forcing Secretariat to
carry 100 pounds in his saddlebags in the Derby.

Japan, China and South Korea do not believe in free trade as we
understand it. To us, they are our "trading partners." To them, the
relationship is not like that of Evans & Novak or Fred Astaire and Ginger
Rogers. It is not even like the Redskins and Cowboys. For the Cowboys only
want to defeat the Redskins. They do not want to put their franchise out of
business and end the competition -- as the Japanese did to our TV industry
by dumping Sonys here until they killed it.

While we think the Global Economy is about what is best for the
consumer, they think about what is best for the nation.

Like Alexander Hamilton, they understand that manufacturing is the key
to national power. And they manipulate currencies, grant tax rebates to
their exporters and thieve our technology to win. Last year, as trade expert
Bill Hawkins writes, South Korea exported 700,000 cars to us, while
importing 5,000 cars from us.

That's Asia's idea of free trade.

How has this Global Economy profited or prospered America?

In the 1950s, we made all our own toys, clothes, shoes, bikes,
furniture, motorcycles, cars, cameras, telephones, TVs, etc. You name it. We
made it.

Are we better off now that these things are made by foreigners? Are we
better off now that we have ceased to be self-sufficient? Are we better off
now that the real wages of our workers and median income of our families no
longer grow as they once did? Are we better off now that manufacturing, for
the first time in U.S. history, employs fewer workers than government?

We no longer build commercial ships. We have but one airplane company,
and it outsources. China produces our computers. And if GM goes Chapter 11,
America will soon be out of the auto business.

Our politicians and pundits may not understand what is going on.
Historians will have no problem explaining

Pre-packaged Bankruptcy Is GM's Only Option - Barron's

Its a shame the media is never held accountable for false statements.Like the $70+ per hour. Pat tells what happened to Detroit.

www.humanevents.com/ar...

Who Killed Detroit?
by Patrick J. Buchanan

Who killed the U.S. auto industry?

To hear the media tell it, arrogant corporate chiefs failed to foresee the
demand for small, fuel-efficient cars and made gas-guzzling road-hog SUVs no
one wanted, while the clever, far-sighted Japanese, Germans and Koreans
prepared and built for the future.

I dissent. What killed Detroit was Washington, the government of the United
States, politicians, journalists and muckrakers who have long harbored a
deep animus against the manufacturing class that ran the smokestack
industries that won World War II.