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Roger Wiegand: Oil Prices Create Industry Havoc

RW doesn't stand for Roger Weigand...it stands for REALLY WRONG. This man was adamant that oil would return to all time highs in OCTOBER! HELLO!!! Everyone in their mother knew about the credit crisis by October, you can't use that as an excuse why you're prediction was so off base...you're supposed to take into consideration macroeconomic factors Roger...

Real Price of Gas Approaches a Historic Record-Low

So much for "running out of oil"...I realize that we need to invest more in energy infrastructure but the ridiculous cries from analyst that it's all gone and we're near the end of society as we know it.

Oil & Gas Headed Lower as Economy Strikes Consumers

The best part about the oil decline is that it encourages OPEC members to cheat on their quotas even more than they already do to support their extravagent gov't spending.

Roger Wiegand: Oil to Reach New Highs by Year-End

I'll give you some data points...US demand for petroleum products down to levels not seen since 1999...Chinese stock market off 60% indicating a worldwide slowdown (no such thing as decoupling). And the marginal barrel to produce costs like $70 according to Saudi Arabia's oil minister.

And you can't use that "what's changed since it was 150/bbl" line either, because 1) a lots changed as the wall street crunch has damaged the real economy and 2) nothing changed between 2007 and 2008 when oil more than doubled!

Can Oil Prices Stay Healthy?

Scammy is absolutely correct. Oil was 65 during the roaring global economy of 2007...how on God's green earth can it stay at 80 in the midst of a global recession in 2008. I'm sorry dreamers, demand isn't growing "unabated." The notion that oil consumption wouldn't be affected by a global economic slowdown is just silly and everyone who has said that should join Lehman and Bear employees on the unemployment line.

Roger Wiegand: Oil to Reach New Highs by Year-End

By the way, DOE just reported that US use of petroleum products dropped to 1999 levels over the past 4-week period. I realize that facts can be inconvenient sometimes, but there's really no way to ignore demand destruction at these levels. Lots of price predictions in the above interview, but a conspicuous lack of supply/demand figures other than the T. Boone pickens slogan of 85 mbd production with 87 mbd demand. NEWS FLASH econ101 says that price adjusts to equilibriate supply and demand. If demand was really outpacing supply by 2 mbd we would be drawing down inventories at record pace.

Roger Wiegand: Oil to Reach New Highs by Year-End

Is this man serious...no really...is he serious??? He even admits that the US might endure a severe recession/depression that drags down emerging markets in Asia, but then says oil demand will continue to rise regardless of economic growth...It's people just like this who blindly hold to a idea (like the notion that housing could never fall) and allow themselves to lever 30:1 and collapse the banking system. I can't believe this person actually sucks up oxygen that the rest of us in America need. THIS MAN NEEDS TO GO!

Riddle me this BATMAN? If all of these hedge funds are going under and are being forced to sell their oil positions...then who pray tell will be going long crude oil when the dust settles? I-banks...whoops none of them left; pension funds...i think they've learned their lesson...who...i repeat...who will be in a position to build long positions in an environment of global deleveraging and asset deflation.

Sure the US and RoW are printing money like mad to try to re-inflate the sytem, but as we exist in a fractional-reserve banking system this really isn't creating inflation because the banks aren't lending.

Once again, this man is sick...I could see how you could argue for 100/bbl by year's end, BUT 157/bbl...It's almost like some analysts get paid based on the degree of ridiculousness in their reports. I challenge this man to put his entire net worth in January 140 call options on WTI crude oil. If he's right he makes out like a bandit and if he's wrong (but wait he shouldn't because the system can collapse and oil demand will never go down!) then he loses everything and we can stop wasting our time clicking on links to his interviews.

Is Oil Demand Falling Off a Cliff?

OPEC signalling that it might have to cut production only serves to reinforce the sentiment in the market that the oil markets are way oversupplied. That any funds are going long crude oil in this environment is unthinkable.

Global Financial Crisis Makes Oil a Great Hedge

It's impossible for demand to outstrip supply as econ101 clearly states that price fluctuates to equilibrate D and S. Stop just repeating what Pickens is saying on CNBC, there can't be 87mbd demand with only 85mbd of production or we would be eating through all the oil inventories at rapid pace...clearly this isn't the case.

The Professor Of Commodities: Interview with James Doran (Part II)

Amen...

5 Reasons Why the $700B Bailout Could Translate to $250 Oil

Not true. One of the largest oil importers in the world, Japan, has seen oil consumption decline over 8 percent when compared to the previous year. Also, US demand destruction cannot be made up by a combination of China/India demand at any time in the near future. For every 1 percent decline in the US (and we have 5 percent demand declines now) a combined China/India must consume 2 percent more. Clearly China/India are not demanding 10 percent more oil to offset US demand destruction. Even if they could, that still wouldn't justify the massive price increases driven by speculators. Anyone who thinks speculators aren't a primary factor behind this runup only had to look at the hilarious 30 dollar short squeeze spike that CNBC was all to happy say was based on "the fundamentals."

5 Reasons Why the $700B Bailout Could Translate to $250 Oil

Terrible article that somehow uses a $700bn mortgage-backed securities rescue plan to soaring crude oil demand. Even the Treasury Secretary has conceded that this plan if passed will not solve all of our problems and is just one measure to stop of major collapse. Even without such a collapse slow to negative GDP growth is in the cards as evidenced by the cyclical stocks getting murdered in the past couple of weeks. Soaring oil demand is such a funny term because at best it will be up globally 1%...I repeat 1%. And as to OPEC there are massive disagreements between Saudi Arabia and the other members with the Saudis saying they would compensate for any cutbacks from Iran or Venezuela.

Once again I do not see the correlation between a gov't plan to clean up bank balance sheets and an increase in oil demand. Consumers worldwide are in bad shape and this will not be solved overnight by a 700bn investment in MBS.

The Next Commodities Boom: Around the Corner?

Once again someone feels the need to produce a piece that essentially says "if this trend continues"...yikes ...why not go deeper than just repeating easily obtainable statistics and actually analyze how it will be possible for China to continue consuming twice the amount of steel than in the US, despite having an economy that is less than half the size of the US? Additionally, the growth of commodity demand in many emerging markets has been aided to a signficant degree by healthy subsidies. As these subsidies are cut back due to increased pressure on gov't finances a much poorer emerging world will be similarly persuaded to reduce its consumption of various commodities. If you think its tough for the American consumer to purchase $3.50-4.00 gas, I'd like to see the average Chinese or Indian endure that pain for any length of time on their incomes.

As Oil Slides, Will Contrarians Turn to Refiners?

Demand destruction for gasoline and other refined products will ensure that margins remain tight for VLO, TSO and others. I would rather just go short energy than try to play it going long refiners.

How Big a Contribution Comes from Oil Speculation?

I think that Mr. Hamilton's assumption that we should be building 1 million barrels per day in inventories ignores the fact that refiners are importing almost 500,000 less barrels per day and relying on existing crude supplies to tide them over until prices drop. If we had reliable data on global oil inventories I think we would see significant builds. Just look at the stories of Iranian tankers being loaded full of oil with nowhere to go (granted its sour crude but still).