Posted on 08/10/2005 2:59:10 PM PDT by MichaelP
Mike
RE: Experts on energy investment research
You mean speculators with a personal profit motive? Gee, they wouldn't think of issuing "reports" (disinfo) with the objective of fueling "worry" and "fear" regarding petroleum supplies. Naw .... they are nice guys, they wouldn't do that .... /sarcasm
nearly everything on FR related to economics/finance is garbage
actually i am shocked the market has held up as well as it has given oil prices.
In 1973-74 the market fell 45%
Let's not get paranoid. I am no big player. I'm a middle school counselor and my wife is a material supervisor for GM: cadillac. Hardly market movers...M
Mike
Then why won't they finance new rigs? Why is there so little actual capital investment right now in domestic (read - high overhead cost) oil drilling capability? If there were really a significant probability of "$100/BBL by next summer" (as the frothers tout) then don't you think that banks would be less stingy about floating loans for new rigs? Instead, the folks who are actually drilling domestically are using 1960s and 70s equipment. And there really are not very many of them - the industry became a skeleton during the 1980s (domestically) and never really grew back very much. If there were tremendous and irrefutable long term price increases sustainable then certainly the domestic industry would be growing and investing much more than it actually is. They are not fools. There are reasons for their skepticism. How old were you in 1982? Can you remember it?
nearly everything on FR related to economics/finance is garbage
Because people insist on linking it to either personality or a political agenda.
I am sure your own little mini froth here is a microcosm. I am also fairly positive that much bigger fish than you are here at FR also spewing froth.
Hmmmm, I don't understand. If it's $65 or $70 it's the same all over the world. It's not like it's just American oil that is costing more.
Mike
Mike
The theory doesn't apply in the real world.
Sounds remarkably like what Custer said before setting out for Little Big Horn.
Significant manipulation against fundamentals is a fine way to lose your shirt these days.
I sincerely hope you're right and I'm wrong. However, I don't think Soros gives a damn about "his shirt," or his investor's shirts, either. He has another agenda and making a profit is only a means to that eventual end, not the end itself. His aim is our destruction. It's really that simple.
RE: Everyone and everything is going after the black gold...
No they aren't. There is actually very little activity in many areas with known reserves. I live near one. Nothing going on. Too high gravity to justify it. So, if no one is taking the risk of investing in tapping into high gravity reserves, then what does that tell you?
Lots of oilmen got burned in the last boom-bust cycle and are inclined to wait a bit. But certainly the oil rig companies are doing well! So at least some oilmen are investing.
Also there is the little matter of reasonable places to drill, in expectation of hitting oil. The last big find was many years ago - it may be that the expectation of exploitable new areas has reduced the investment activity. Peak oil effect.
... we'll have nobody to blame but ourselves ...
"They will sell the rope to hang themselves."
spoken like a true disciple of Andropov. Almost 100% out of doctrinaire kant
Who's your handler? Heard from Dzerzhinsky Square recently? Oh that's right. They've moved.
Tin foil hat firmly in place, just in case. But I don't think I'm going to need it, now am I?
Peak oil - at least as couched by devotees of "dieoff.com" and "the great supercycle" - is right up there with "Earth Changes" and little green men. CTCAM standard material. As for your comment about tapping into the untapped - there are plenty of fields IDd that have not been tapped, right in in CONUS. I'm literally sitting on top of one. [My degree - Geophysics, 1984].
I really don't care. All I care about is that I'm getting gouged horribly while the oil companies go "Cha-Ching" and I'm royally pissed. That was 20 years ago, now is now. 20 years ago has absolutely nothing to do with what I'm paying for gas now. What? That's supposed to make all of us feel good about getting gouged?
Some people...
Is it Bush's fault?
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