Replies

That's the small time bargain hunters...some forced margin calls popping up. The fundamentals for price support is out the window. IMHO, like I said, Ben Ben, is just giving the market a breather, but, we're gonna pay for it very soon.

Believe me, not only is the US wrapped in the credit, CDO, sub-prime, fiasco, so is a lot of others around the globe.

There are still many sound companies around and they are well run, make a profit and they will survive. We're just not going to see much growth, just increases in prices for everything.

I see (counting last year) a 15-20% overall increase in the Cost of Living (not housing prices but maybe rent) to settle in by middle 2009 with income and other taxes going up too as the goobermint is addicted to your's and mine's backsides and they do not know how to cut waste anymore.

Reducing the price of oil will come if they can get Iraq's production and delivery doubled...that will help, but, the US needs to get more nukes on line, open up drilling off of Fla, and the East Coast, and expand refineries.

The economic problems we are facing are a direct result of Government intervention in the oil business. America can't drill in the Eastern Gulf,off of either coast, national park lands or Arctic National Wildlife Refuge. It is not possible to permit construction of a new refinery. Nuclear power is out. Don't dare recover oil sands. Certainly can't use coal. Biofuel is not efficient to produce and drives up the food we raise and grow, is harmful to the environment and more expensive than Hydrocarbon based energy.

What is the answer to our self inflected financial wounds?

If we just announced that we were going to allow drilling everywhere there was a chance to find oil in the USA prices of oil, gasoline, diesel food and mortgages would decline and the dollar would skyrocket.

We could actually be self reliant for about 20 years on known reserves. Bear in mind that the Governments (State Local and Federal) control 56% of the land mass of the USA. Most of it being off limits to exploration and production.

Cuba is drilling closer to the Florida coast than we can. That field has potential to be a huge find that extends into US waters. We should be competing in our own back yard.

Gasoline and Diesel stocks are at a higher level than they have been since 2001. Crude stocks are at a high level as well. Many economies are down bringing demand down.

There seems to be between 20% to as high as 40% of speculation built into the current crude prices.

With an imbalance in supply and demand supported by speculation you can count on large swings when additional supplies are rumored to be forthcoming.

We just need a few politicians with a set.

God! We Are Doomed!