Posted on 04/24/2006 8:41:25 AM PDT by churchillbuff
Mr. Gaines, chief executive officer of Houston-based Dune Energy and a former top institutional energy analyst, told The New York Sun that those factors could include the current shortage of gasoline inventories, a really hot summer, supply disruptions arising from troubles in Iran and Nigeria, or another serious hurricane in the Gulf, 13% of whose production is offline.
These factors, he says, also could easily produce $90 to $100 oil, as well, versus Friday's close of $75.17.
Equally significant are the implications for interest rates. The gushing oil price, says money manager Leonard Mohr of Los Angeles-based MCR Associates, re-enforces his conviction that the Fed, contrary to overwhelming Wall Street expectations, is in no position to call it quits on future interest rate increases, given the inflationary ramifications of the burgeoning price of oil.
(Excerpt) Read more at nysun.com ...
Does anybody know what gasoline is? For sure it isn't a gas, but a liquid.
Whenever the RATS think they have an issue it just seems to evaporate.
I think some discussion of the hedge funds and their plunging headlong into the futures market has something to do with the speculative pricing problem of crude. The real estate market has cooled and from the data I have seen institutional investors are bailing from residential mortgages and going into the even more risky futures market. We all bemoaned the OPEC cartel but we have an even nastier problem on our hands with the futures market. What is happening is foreign governments (Iran, Venezuela) are trying to influence our political system. My bet is Bush’s sleepwalking to 2008 will lead to a Democratic presidency and then the futures market will crash as these governments mysteriously start playing nice with the US again. We need to suspend the stupid and useless seasonal reformulation of gasoline, suspend the gas tax, like the US stock market create more stringent trading curbs in on commodities and the most shocking is keep an eye on the whole gasoline supply chain so that the scumbags in the energy distribution system don’t decide to raise the price to take up the slack of money saved by tax cuts. I for one distrust the international oil oligopolies as much as our Federal government. I see a lot of people here defend the energy business, my family was in the oil business so I know first hand it’s a dishonest business right up there with sports betting, boxing and payday loan companies.
You may have a point re: foreign gov'ts trying to intervene but I dont know that even they have enough capital to move the global energy markets by the amounts that we've seen, particularly in oil and natural gas.
If you are correct, these schemes usually can't sustain indefinitely and are ultimately self-defeating. A big drain of capital to create political change in the US is not going to provide a great ROI.
I agree with your solutions though.
LOL! He looks like he's melting.
heh. heehee. haaa! hahaa! BWAAHHHHAAAAAAAAAA!!
BTW murry mom, are you planning on seeing United 93? I'm betting you aren't or at least won't ever own up to seeing it. But that's what your hero's "8 years of peace and prosperity" bought us.
Are you kidding me? I can't wait to see the scene where Dubya and Condi fail to respond to the August, 2001 PDB warning that Bin Laden is determined to attack the U.S. with airplanes. Or the scene where Dubya reads "My Pet Goat" to school kids down in Florida while the crisis unfolds. Or the scene where Dubya descends upon an aircraft carrier in his flight suit and declares the end of major hostilities in Iraq.
These are scenes that great theater is made from. I wouldn't miss them for all the tea in China.
the USS Cole
and the 1993 attack on the World Trade Center
the Islamofascists were emboldened into planning and getting away with 9-11.
Even my 10 year old neice understands that. Not surprised you don't (won't) though.
Some of the charges against our politicians regarding energy independence are false - but making E85 available everywhere should be a very high priority.
I'm guessing that the crude-oil bubble began to pop this past Monday and will deflate seriously after the May 5 ethanol changeover.
Until such time as gasoline prices drop, however, just ride your bicycle, walk, or take mass transit. Exercise is good for you.
OR better yet, let's invade Canada, and steal all their oil.
Sell socialist New England to Canada for 1 billion barrels of oil. Nothing worth keeping there.
Except that it's not theirs - it's ours.
We found it, we drilled it, we moved it, we created useful machines that can make use of it - they did nothing except steal it.
If the expropriation of ARAMCO in 1980 was challenged with force when it happened, we wouldn't be in this mess.
I don't see the Senate NOT convicting on any impeachment charges against the President. Conviction requires 67 votes, but the spineless RINOs like Arlen Specter (who already has endorsed impeachment) who dominate the Republican caucus will support the Democrats on this measure. A Democrat takeover of the House of Representatives before or the Senate trial would leave many Senators quaking in their boots, desiring to fulfill the yearning desire of the American people for liberalism and its attendant misery under the vaunted Presidency of Nancy Pelosi. Would RINO senators reject such a groundswell when they believe that their George Soros funding and future electoral chances depend on their impeachment conviction of the worst President in American history? Hell no! They would vote alongside their Democratic colleagues for impeachment in a dramatic show of bipartisanship.
Yeah but you have to admit, Team Clinton kicked ass at Waco. What was it--31 children mixed in among the 80+ that they took out? /Sarc off.
1. Explain how knowing about a possible plane attack helps one connect the dots when a wall set up on the watch of your favorite President prevents the intel agencies from sharing data.
2. Could you tell me why Clinton turning down Bin Laden's head three times is no problem, but not turning the world upside down over one PDB is?
3. Why did Bill Clinton spend more time hunting Microsoft than Osama?
4. Can you name any country that no longer had terrorist training camps because of Bill Clinton's actions? I can name at least two that don't because of George W. Bush.
Or the scene where Dubya reads "My Pet Goat" to school kids down in Florida while the crisis unfolds.
1. Quick, tell me how long it takes to get Air Force one ready to fly.
2. If the registered Democrat teacher of that class has praised the President's conduct in her class that day, what business is it of yours to criticize?
3. Are you aware that John Kerry and several of his Dem Senate colleagues, by his own admission, sat stunned in front of the TV from the time they were alerted to the attack until they heard the explosion at the Pentagon? Any comment on their lightning-fast reflexes?
4. What could the President have done about the crisis from a third grade classroom (or a limo) that the VP could not do from the situation room?
Or the scene where Dubya descends upon an aircraft carrier in his flight suit and declares the end of major hostilities in Iraq.
Yep. Great scene. They could also include a scene where Bill Clinton is too busy getting the Hinkelman from Monica to meet with the guys from Sudan and get Osama on a platter.
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