Oil hits record $74 on Iran, US gasoline stocks

(Reuters) ^ | 4-19-06

[M. Espinola]

$80, $90?

[in hoc signo vinces]

Oh yeah...go baby, go, my O&G stocks are doing great!

all this is a matter of perspective.

[lexington minuteman 1775]

Hell, why not a hundred? LOL!
Boy I sure dont want to be anywhere near oil futures when the bubble breaks.

[VegasCowboy]

It's only a bubble if it pertains to real estate. All increases in the value of gold or oil can be explained through economic fundamentals. /sarcasm

[M. Espinola]

Have those protective puts in place. There may be substantial short term profit taking even before the war breaks out with Iran & Syria, then prices will most likely double.

[ex-Texan]

*BUMP*!

Oil will end the year about $ 100 bbl. unless U.S. attacks Iran . . . Then oil will skyrocket. American economy will implode. World wide recession. Buy gold. Yada, yada, yada.

[Yorlik803]

ok let me get this straight.
the price of Gasoline went up because of Hurricane damage.
Ok, then the price went up because it was winter.
the the price went up because it was spring.
then it went up because of spring break.
then because of Easter.
Now it is going up again because of............Hurricane damage.
Oil Companies are asking for the Dems to investigate them. I dont mind anyone making money, but geezzzzzzz.
And now they are paying the head of Exxon 400 million in benefits. 400 Million. It is like they are daring the Goverment to look in on them.
When that happens, watch out..Look for really high gas prices.
The consumer gets it in the rear again. I feel like the cowboy from Brokeback Mountain.

[EagleUSA]

It's only a bubble if it pertains to real estate. All increases in the value of gold or oil can be explained through economic fundamentals. /sarcasm
-----
Yes, there is much more to this scenario that just "oil company profits". I hope these mongers on the world market choke on it. It could happen... :-)

[Proud_USA_Republican]

Yes it is. I made more in one week in the stock market, than I would have to pay at the pump for years.

Boo-yahhh!!!!

http://personal.fidelity.com/products/funds/mfl_frame.shtml?316390491

http://finance.yahoo.com/q?s=slb

[KSApplePie_two]

Silver and Gold baby.

[Cobra64]

"...while refiners run down stocks ahead of changes to more environmentally-friendly fuels in May.

This is but ONE of the factors that some around here do not understand regarding supply and demand matrix in the petroleum industry.

[in hoc signo vinces]

Buy some stock in O&G companies and O&G field services companies...there is still growth there.

U will make more money in your investment than you will ever pay out in gas.

So, it is only Brokeback Mounting...ha...if you let it...

Capitalism works but you have to play the game to win...

[mtbopfuyn]

Which is why I'm having to job shop.

[RFT1]

While a case can be mae that the price of crude is over valued by about 15% or so, that is hardly a bubble. Demand for crude oil is largely in eleastic. On the other hand is clearly in a bubble that was fueled by cheap credit, not economic fundamentals.

[pctech]

It's all a matter of fear, there is no real supply disruption to speak of that should be causing these price hikes. Sure, Venezulua, Nigeria, and a few others are not working out too good along with Iran, but this is so ridiculous because the supply has not dropped. In most cases the supply has increased. And yes I agree with you, the consumer gets reemed again.

Where is our government in our time of need now? It's getting to the point where I can't pay my bills any more because my gasoline bill has tripled in the last 5 years. Thank you oh government of the United States for sticking to the little guy again.

[Cobra64]

And now they are paying the head of Exxon 400 million in benefits.

It's the stockholder's money.

[Proud_USA_Republican]

"I feel like the cowboy from Brokeback Mountain"


If you had bought some Schlumberger and Halliburton, you would feel like Donald Trump in a jacuzzi with a bunch of naked supermodels.

[Yorlik803]

and lead and copper...
FMJ when the SHTF.......

[M. Espinola]

"Oil will end the year about $ 100 bbl. unless U.S. attacks Iran . . . Then oil will skyrocket. American economy will implode. World wide recession. Buy gold. Yada, yada, yada."

Ditto, ditto, totally agree. Excluding fund generated, short term profit taking in the energies and even gold/silver, we are witnessing signs of future bullish trending.

When the metals group and the energies soar from current levels, major stock indexes shall head the other way. The US Dollar is also in for a very rough ride. The housing boom will fizzle out (already underway in key areas).

Mahdi madness! Iran's president says oil prices have not reached 'real value' yet

Young people clash with police in Iran's oil rich provincial capital

[dennisw]

Iran and Venezuela sell oil at a discount to certain favored friends. They use oil as a tool of foreign policy. To get a nation to go along with it in the UN and in a dispute with the United States. Iran is selling oil to the ChiComs under long term contacts signed at lower prices

What percent of world oil is NOT sold on the spot market? My contention is the developed world pays $73 but many 3rd world nations don't. Venezuela is using oil as a foreign policy weapon in Latin America. To make it's oil dependents toe the line