Posted on 05/03/2006 7:38:25 AM PDT by kellynla
You said -- "For that to be true, demand would have had to have dropped suddenly, in the course of one week, an average of five percent a day, with no warning from previous weeks that such was going to happen, in order to blindside the analysts."
The headache for the drunken public binge buying -- came on suddenly. And ohhh boy... what a headache it was.
Regards,
Star Traveler
They found the "new" inventory with the Rose Law Firm documents.
"You can too if you buy some oil futures. Or you may lose just like the other futures traders.
Do you think it costs the gold miners $600/oz to mine gold? Do you think it costs Coke $6/gal to make Coke?
Sure the Saudis could sell their oil for $1/bll and lose money if they wished. Or they can sell it on the free market and get whatever the seller is willing to pay. Apparently Exxon is willing to pay them $70 and refine it into gas and make a profit. Just like Kelloggs buys that corn at $2-$3/bushel and sells you corn flakes at $2-$3/ box."
It gets to the point that it's almost too exasperating to explain...the more we try, the less they comprehend! LOL
So it's back to the first question. What "few players" control enough product where "minor adjustments" can spike the numbers?
I'd say you have way too much faith in the "analysts". They don't have crystal balls, psychic powers or infallible models. They are wrong quite often. They have no way of knowing if Joe Blow is going to drive his SUV all week or maybe try out his new Vespa since the weather in Podunk is nice or if Wall Mart decides on Monday morning to cut back shipments to once a day instead of two to save fuel. They can not model that closly.
Industry analysts employed by the media. Ever think that they could be doing their bidding? Similar to Bush being predicted to lose twice by political analysts?
I thought you would be using E85. Oh wait, that's going up at roughly the same rate as gasoline too!
Have you enlisted yet? LMAO
I agree with everything you say. One slight point of clarification specially with Saudi oil. It is my understandign that Saudi oil is heavy crude. Refiners need more Saudi oil to create a gallon of gasoline (ie. tougher to refine) than Texas sweet crude and Niger crude. So the cost of a barrel is substantially less than 70-72 (American) dollars per barrel.
"Sure the Saudis could sell their oil for $1/bll and lose money if they wished. Or they can sell it on the free market and get whatever the seller is willing to pay. Apparently Exxon is willing to pay them $70 and refine it into gas and make a profit."
point of record, I didn't say that. LOL
but I did point out in an earlier post that the Saudi crude is more difficult to refine into gasoline...
Still singing the same song? LOL, LMAO, WTF, BTTT, ROFL, BRB, IMHO, STFU, BSSEG, CSY, CYA, DILLIGAFF, ESAD, FOAD, FUBAR, GASP, KMA, JK, LMFAO, LTIP, YHGASPL, YAOTM, WYLABOCTGWTR, SITD, ROFPML, PMYMHMMFSWGAD, NIMBY, MYOB
And lastly: TDMATBICPLY
Saudis get the price for the crude...since they own it. They dont get anything for the gasonline made from it...unless they own a part of the refinery that sells it.
It was $.99-$1.09 gal when Bush took office and the Republicans control both houses of government and have pretty much since 1994.
It is no longer realistic to blame Clinton,Democrats, Environmentalists, or space invaders for the things that's happening in our country we don't like,
Over the last ten years the oil companies have been buying up the smaller oil companies.
We have had over 2600 mergers. They are still merging into bigger and bigger giant companies ie. Chevron/Texaco,/Ex on/Mobile.
With mergers you have less competition. When they all charge the same price at the sam\e time, you have none.
I've always wondered how con artists could re-package the same old scams and never seem to run out of suckers.
Well, I found out it's not only true that there's one born every minute but they are recycled every four years where American voters are concerned.
I know I'm sixty years old and have been through the process a number of times.
Not anymore.I'm not going to stay at home and not vote. I'm going to institute my own term limits.
I'm not going to settle for the lesser of two evils. I'm going to fire somebody. I'm going to try and break up this two party pack of self-severs.
I am sorry. I missed that post. Your post was excellent.
no problemo and thank you!
Thanks for investing your hard earned cash into the key strategic industries that safeguard our freedom! Get Rich(er)!
Well today isn't particularly good day for my oil stocks but yesterday was and tomorrow IS another day. I expect after the resolution introduced by the US in the UN a few momements ago, Iran will be sabre rattling again and oil stocks will go up. Maybe Chavez will even say, "me too".
You should send him taunting emails.
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