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Author Topic: Oil specualtion
glassman
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i beleive that recent trading has proven that the outrageous price of oil was in fact due to speculators..

oil production in the Gulf of Mexico has been off more than it has been on since Gustav hit, and the price has still been dropping...

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IWISHIHAD
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How about getting our gas prices back down here in Ca. i am still griping $3.60-3.70
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buckstalker
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Gas went down to $3.59 about a week ago...now back up to $4.19 - $4.29 for regular WTF

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***********************

It's all in the timing...

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BooDog
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went from 3.34 to 4.57 here in some places in Virgina - and that's for 87 oct.

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All post are my opinion. Do your own DD. Who's clicking your buy/sell button!?

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glassman
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we went from 3.59 to 3.79 over the weekend...

gasoline refineries are shut down...

oil is probably backed up in tankers waiting to be delivered all over the world...

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IWISHIHAD
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Sounds like someone is raking it in if oil has droped as much as it has in the last month.

Even though in some parts of the country the storms have created a problem, these oil companies some where along the line are buying cheaper oil.

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The Bigfoot
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Look to hedgies and large fund managers for the run up of crude. Another reason not to privatize social security. I was for it originally but the trading patterns of the last couple years has shown me that putting that much cash on the market would cause wild destabilization. And that isn't counting the amount of fools who would use their SS money as speculative investing and lose thier retirement to a gamble.

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No longer eligible for government service due to lack of tax issues.

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glassman
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trading patterns of the last couple years has shown me that putting that much cash on the market would cause wild destabilization.

"Wall St" was not for privatisation either... they didn't want to have to be called to testify in Congress under oath to explain this stuff [Wink]

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IWISHIHAD
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Quote:

Look to hedgies and large fund managers for the run up of crude. Another reason not to privatize social security. I was for it originally but the trading patterns of the last couple years has shown me that putting that much cash on the market would cause wild destabilization. And that isn't counting the amount of fools who would use their SS money as speculative investing and lose thier retirement to a gamble.

_________________________________________________


I don't know if anything could be worst than our Gov. taking this SS money and using it anywhere they want.

I guess it's possible for something to be worst.

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IWISHIHAD
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Oil has dropped 37% since it high, that sure gives me a good idea of where gas prices "should" be.

This is not going to help the economy much until they give this savings back to the consumer!

These oil companies can still have their hugh profits with the savings.

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bdgee
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"I don't know if anything could be worst than our Gov. taking this SS money and using it anywhere they want."

They have been doing that for years. That, and nothing else, is the reason it is possible to generate tables showing when the SS trust fund will be gone. Repay the monies taken out of the SS funds, stop allowing them to be used as if they were funds collected for the general budget, and SS is doomed to be solvent through the foreseeable future

Refusing to tie up the SS funds so that they cannot be squandered to earmarks has been republican mantra for decades, in case you have forgotten the 2000 campaign.

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bond006
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Three cheers for that. If these right wing swine want to take anybody's retirement fund take there own special retiement fund they give themselves.

If you want to keep ss safe one federal retirement plan for all and one medical plan for all. So when right wing trash votes to give themselves some EXTRA ALL OF US AMERICANS GET EXTRA

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IWISHIHAD
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How much profit will the oil companies show this coming quarter.

Oil drops under $80 a barrel and gas still at 3.50+.

With the economy doing what it's doing it will be interesting to see how people will react to next quarters oil profits.

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a surfer
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just filled up for 3.35
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glassman
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we're down to 3.03 here.

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Don't envy the happiness of those who live in a fool's paradise.

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IWISHIHAD
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Glad to see some areas that are cheaper than us.

Compared to where oil is now we were much cheaper at the pump the last time oil hit the 80's and under.

The question is who is taking the differance in prices, retail or wholesale or both, we Might see in next quarter earnings.

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IWISHIHAD
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It appears that gas prices in California were around $2.70+ a gallon the last time oil got to around $80 a barrel.
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Sunnyside
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$3.08 this morning but didn't hold there for long. Just a teaser.
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T e x
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paid 2.99 coming in from the job...my jaw fell, then i whipped a u-turn.

And then I called my buddy...

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Nashoba Holba Chepulechi
Adventures in microcapitalism...

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Peaser
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Oil at $60 + $2.20 a gallon at the pump by Christmas would sure be nice to see...

Wishful thinking or not?

3.03 cash price, 3.09 credit price here on Friday.

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Buy Low. Sell High.

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Ace of Spades
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Gas is Under $3.00 here in tampa area Walmart gas station....

But if the Stock Market goes back up...so will oil!!! Be Prepared!!!

I'm enjoying this while I can...and laughing at all the retards that went out and bought those scooter/mopeds....believing those stupid mini documentaries on Fox news about the oil crisis and possible doomsday scenarios for the price of oil They played them over and over saying giving examples of events that can drive oil up to $7-$10....Now these people riding the scooters and mopeds look silly...hahaha

But Glassman is dead on...this is pefect proof that the price of oil was just form traders and speculators....but then again...this was already a no-brainer....but nobody wants the fun and gains to end....so they blame it on supply and demand...which is a factor....just not the main one!

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glassman
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hey don't make fun of my scooter... [Big Grin]

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jordanreed
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2.88

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jordan

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a surfer
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Still 3.25 just a few hours south of you Ace in Naples.


Although we proved that speculation drove the price to ridiculous levels we need to keep in mind that this little respit is just that.

Will we continue to hunt for alternative fuels if oil is cheap??

They sure don't want us too.

Becoming self sufficient on energy is THE most crucial task that lies ahead in the next 10-20 years.

It solves so many problems on so many levels.

Instead of pushing democracy for oil we can teach democracy for the good of man kind.

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glassman
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whoever gets elected? we need to develop nuclear waste reprocessing... it really is the best alternative for scalable electric power on the scale we need it...

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a surfer
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quote:
Originally posted by glassman:
whoever gets elected? we need to develop nuclear waste reprocessing... it really is the best alternative for scalable electric power on the scale we need it...

Can the big O handle that?? I sure hope so.
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T e x
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quote:
Originally posted by glassman:
whoever gets elected? we need to develop nuclear waste reprocessing... it really is the best alternative for scalable electric power on the scale we need it...

but ultimately unreliable...

a Faustian bargain, in the sense of a "monoculture." Maybe here and there...but we really, really do not want nuclear as a "stable" go-to guy.

Much better to model the "strength-in-diversity" model of most long-term, successful ecosystems...

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Nashoba Holba Chepulechi
Adventures in microcapitalism...

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raybond
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These low prices are only for the election period after the election we will see $5.00 a gallon again

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Wise men learn more from fools than fools from the wise.

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bdgee
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quote:
Originally posted by raybond:
These low prices are only for the election period after the election we will see $5.00 a gallon again

Yep.

In case you have forgotten, the very same "drop" in the price of gasoline happened just before the 2004 election.

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glassman
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quote:
Originally posted by T e x:
quote:
Originally posted by glassman:
whoever gets elected? we need to develop nuclear waste reprocessing... it really is the best alternative for scalable electric power on the scale we need it...

but ultimately unreliable...

a Faustian bargain, in the sense of a "monoculture." Maybe here and there...but we really, really do not want nuclear as a "stable" go-to guy.

Much better to model the "strength-in-diversity" model of most long-term, successful ecosystems...

i'm not suggesting it become THE source at all...

scalable is the important word here... wind, solar? they can both let you down for brief periods and nuclear can "run cool" and "run hot" on demand.... just push the rods further into the core or pull them back...

if we can pull 20% week over week out of each solar and wind, which is very realistic? then dirty coal can come off line. but nukes are needed to be the anchor... the Navy has been running on nuke power for years, and while they were able to hide alot of the problems for years? they were able to develop the real world fixes too...

one of the secondary issues to nuke is that it heats up the discahrge water too. techniques to utilise that "low power" is needed too...

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IWISHIHAD
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Quote Glassman:

"one of the secondary issues to nuke is that it heats up the discahrge water too. techniques to utilise that "low power" is needed too"...

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Put them along the beaches the surfers love it and so do some fish. San Onofre water is warmer and adds to our California sun. You guys can't say we do everything bad in Ca. [Wink]

http://www.sce.com/PowerandEnvironment/PowerGeneration/SanOnofreNuclearGeneratin gStation/default.htm?goto=songs


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