Posted on 04/21/2006 10:46:54 AM PDT by Rutles4Ever
SAN FRANCISCO (MarketWatch) -- Crude-oil futures climbed to a high of $75 per barrel Friday for the first time ever for a front-month contract on concerns about tensions surrounding Iran's nuclear activities, violence in Nigeria, and tight U.S. supplies of unleaded gasoline. June crude was last up $1.26, or 1.7%, at $74.95 per barrel. "We often see this sort of short covering in a record-setting bull market ahead of a weekend, since nobody is sure where we may be Monday," said trader Kevin Kerr, who is also editor of MarketWatch's Global Resources Trader.
You got that right. Unfortunately, it's supported by the "bipartisan" Party of Gubmint in Wisconsin, and they have essentially all the power (the only arguable place they don't have complete control is in the Assembly Pubbie caucus, and even that has been sliding toward their way of doing things).
Disgust!
Just adjusted my work schedule to work 4x per week, which is a good thing as I need Fridays to work around the yard, etc. But I'll still save ~20% on fuel costs, which does not hurt either...
Under that scenario, prepare for $6-$7/gallon gas by the 2008 elections.
What the heck do they need to market for?
My solutions:
Put a temporary halt on Federal and State taxes around 50 to 60 cents will be cut from the price of a gallon of gasoline.
Release oil from the strategic reserve at rate of 0.5 Million to 1 million barrel a day. This will drop the oil price world wide by 15 to 20 dollars.
Not necessarily - if they have long-term contracts for their production, they're probably just now starting to get the better prices. What happens long-term from here on out is anybody's guess. If they're having to "buy" for marketing purposes, this may not be all good news.
Yes. So's $4 and $5.
We may never be able to tap into the Methane Hydrate reserves. China, however, is not constrained by obeying any international treaty, regardless of whether they are a signatory or not. They have already been exploring the possibilities off the continental shelf in the South China Sea.
Which may relieve the pressures on the international petroleum supply. In the short term, it will provide some small respite, but inevitably, the leadership the US now enjoys will slip further, and China begins their long ascendency.
"More market manipulation by Soros and his DUmocrat-commie buddies."
It is probably a safe bet that America's number one enemy and the DNC's major financial backer has been very busy manipulating the oil market prices via his hedge funds.
China's new demand coupled with India's growing demand are the main reason for the rise in oil. The real question is who's economy can withstand these price increases? America, Europe, Japan, China, India, et.al. My bet is that America with the most diversified economy is in better shape to weather the sustained high oil costs compared with the rest of the world. China and India are especially sensitive to oil costs due to their export manufacturing economy. Europe really doesn't matter since neither their economy or demand for oil has changed much. My call is this is really a Mexican stand off between the major economies. My bet is that China and India's economies will blink before us, causing a fall in demand and price.
Why am I not surprised that Red China is taking the lead?
On March 23, 2006, the Board of Governors of the Federal Reserve System ceased publication of the M3 monetary aggregate.
Well great! By the time they inherit it, they inheritance should cover about a barrel of oil!
But *we're* the ones who developed the majority of all the producing wells in the world ... something happened somewhere along the way where we lost control of the end results.
marketing is gas station expenses - leases, labor, etc.
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