John Eickholt

Expect a New Direction for Crude Oil

Oil has been a scam for 9 years now. The scam has been feed by CNBC, they never debate it, its just all oil bulls they bring on. They drove the money into oil. As journalist they should report the scam instead of feeding it.
www.eia.doe.gov/pub/oi...

All they have to do is read the report to see how high our inventories are, and bash the scam. After months of builds in Natural Gas supplies, yesterday we had a little draw, Sharon Epperson of CNBC screamed a big draw. Price went up 8.17%.
Why do we need some economist to give his or her guess before any report? This alone is bullshit, can't the market market its own decision about the Government numbers?

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.

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.