Posted on 04/16/2008 4:38:39 AM PDT by TigerLikesRooster
Yeah could be. Or maybe the Fed is printing too many dollars.
Has Soros bought up the corn futures? Gold? Lead? Nickel? Aluminum?
Shocking economic principle!
Oil production constrained by socialist government policies:
http://www.breakingviews.com/2008/04/15/Peak%20oil.aspx?sg=breakingstories
This is what happened when a ‘free market’ is really an oligopoly.
We need to recall when not all that long ago when leading Asian economies were suffering from the currency traded triggered 'Asian Flu', sinking crude oil prices to under $11 dollars a barrel, dropping pump prices to under $1 a gallon. That was only eight/nine years ago.
Traded commodities which soar quickly have a history of plummeting twice as fast, (2001 palladium prices being a prime example) however, in terms of the energy sector, once OPEC's Iranian jihadist thugs are finally delivered long over due justice, the resulting panic in the oil pits could conceivably skyrocket oil prices beyond $200 a barrel in the chaotic midst of energy trader pandemonium, as global stock market are bearishly sinking fast. Anything can happen before the November elections.
That would make a great newspaper add come next november.
If you really believe that, lots of money to be made in the futures market.
April & May 2009 currently trading at $106~107.
Wrong.
U.S. Electric Power Industry Net Generation, 2006
And much of the petroleum that is used is residual oil and petroleum coke. Lower value refinery "leftovers" after the lighter products like gasoline and diesel have been removed.
Weak dollar is to blame. Nevermind the dollar is about where it has been for several months.
Hmm. I’ll have to revise that then. The numbers I had were admittedly not recent. Somewhere around 60%, I think.
Thanks.
60%? Were you using numbers from the 1930s?
I don’t even remember, but it was before ‘04, and I don’t remember the site.
Most likely completely bogus.
Figure 14. Petroleum Consumption by Sector
Energy in the United States: 1635-2000, Petroleum
http://www.eia.doe.gov/emeu/aer/eh/petro.html
It looks like the dollar is going to retest the March all time low here pretty quick.
.
Oil prices are up when priced in Euros, just not as much dollars.
Look at the last 5 years or so change in dollar value and change in oil price. Most of it is not from the dollar.
I just changed it.
Russian oil production is off some but whether it calls for global limited nuclear war is a question for those who might profit in some way from global limited nuclear war.
Average oil company profits are also ~8.3%, not 10%.
The Truth About Oil and Gasoline: An API Primer
http://www.energytomorrow.org/energy_issues/truth_about_oil_gasoline_primer.pdf
2007 Earnings by Industry, Page 14.
Of course I’ve got to recommend you stop vandalizing private property. I think that type of action is best left to the enemies.
It’s not vandalizing any more than the people putting ads on your door or windshield offering jobs or carpet cleaning services. The glue is quite weak.
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