Posted on 08/10/2005 12:33:42 PM PDT by Jomini
When the opposition in the Third World War produces said commodity, they will use it as a weapon. The dollar, and the West, suffering a nonlinear assault far more dangerous than a few suicide bombers.
Suicide bombers can't beat the West. Oil can.
J
It's going to keep going up until y'all stop buying gas.
World demand is approaching 84 million barrels a day. World production is also about 84 Mb/d and can't be increased appreciably. Not a lot of slack.
It's those wacky SUV's acting up again.
I'm buying more gas.
http://quotes.ino.com/exchanges/?e=NYMEX
I'm thinking that the high oil prices are going to cut off the world economy before they cut off ours.
Well, the economies of China and India are in desperate need of hydrocarbons. That in effect has made the prices of crude oil go up drastically in the past several years. And the prices will keep going up because there will most likely be more growing economies in the future. So unless more oil can be pumped out (for example, there are many Iranian oil fields that have been left untouched), the prices of crude oil will keep going up.
It isn't supply and demand, it's greed. There is no reason that oil should be this high.
That would be most likely. Developing countries can least afford the downturn that would make Euros and Americans just b*tch louder. China is riding the wave, hanging ten; they would crash hard. Indonesia, Africa, forget it.
That is precisely when you will see them go down. The sellers can't kill the goose that lays the golden egg.
Probably because too many people haven't a flippin CLUE about the supply chain.
They think that a guy can drill a hole in the ground, and the output goes right into a gas-o-leen truck headed to the nearest filling station.
They also do not understand demand beyond their own mailbox.
(shaking head)
Check this out.
http://quotes.ino.com/chart/?s=NYMEX_CLU5&v=d12&w=1&t=l&a=200
Up nearly $2 today. Going slowly insane.
Could easily get to $80/brl by year-end.
Expect higher interest rates and the dollar losing more value to other major currencies. In the mean while all our tradable jobs are being exported oversee.
Where are all the democrats running around saying we could solve the problem if we just took oil out of the Strategic Petroleum Reserve?
Oh that's right, it's not an election year.....
It's a great site ain't it.
Exactamundo.
The demands of China and India are going to keep increasing. Those countries - especially China - were locked into archaic economies while were were furiously expanding here. There was no energy supply crunch at that point. Our energy needs have not decreased, now add in China and India using resources like the U.S. after WWII, and this is just the beginning of a bona fide crisis.
It will be very interesting if we go toe-to-toe with Iran. Don't think for a second that China will allow Iran to invite an invasion. They need that oil, too, and if Iran isn't careful, they could be facing an axis-of-consumers demanding regime change, or else.
You can't kill the goose....people will keep paying for it.
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