Wednesday, 11/20, Market WrapUp (threat of terrorism on oil pipelines)

Financial Sense Online ^ | 11/20/2002 | James J. Puplava

[rohry]

The Market Scoreboard seems to be a day behind...

[rohry]

Market WrapUp is delivered...

[DarkWaters]

Numbers look alright, he just left in the wrong date. He seems to do that every now and then.

[antaresequity]

2 Min ES02Z (s&p 12/02 mini's)
Opening Hour...Gap down open..gap break trade...

[RightWhale]

Refineries in Alaska are local. Fairbanks has a small one, Anchorage has a couple a little larger. Prudhoe has a rudimentary refinery. Not serious targets. The pipeline itself could be shut down for a period, but repair is relatively quick. The Valdez terminal could be destroyed and the pipeline would be back in operation eventually, maybe 2 years.

This kind of target for terrorism would be annoying, but not anything so serious as WTC911.

[Gritty]

BTTT

[B4Ranch]

This kind of target for terrorism would be annoying, but not anything so serious as WTC911

To the tree huggers it would be worse! All that enviromental damage would be a world disaster! /sarcasm ends here

[arete]

I don't know how this slipped by me today. I thought sure that they would make jobless benefits more or less permanent.

Jobless Program Will Not Be Extended

Maybe they will be hiring all those unemployed HPQ workers for the new Dept. of Homeland Secruity.

Richard W.

[jwh_Denver]

Fantastic chart for TA. Best learning I've gotten about the use of Fib lines. Thanks much!

[arete]

Although I am not a tree hugger, I do appreciate the glories and wonders of nature. I figure that I'm pretty average in that respect. On the other hand, I am becoming increasingly uneasy with all the war talk and beating the drum on the urgent need to attack Iraq. GW is starting to sound desparate and is already bombing radar sites in Iraq almost daily. Puplave may be right -- how many American lives are we able to gamble away to be able to fill up the gas tanks on our SUV's with cheap oil. What if the whole economic war backfires and oil prices go up?

As leader gathered in the mediaeval city of cathedral spires, Bush used the centerpiece address of his five-day European trip to press them to "take up global responsibilities or choose to live in isolation from the challenges of our time."

While he did not directly accuse Europe's leaders of indifference toward Saddam, Bush's sternly worded appeal for action against terrorists and like-minded regimes was clearly aimed at the likes of Germany, which opposes military action in Iraq, and France, which forced the United States to water down a U.N. resolution to disarm Saddam. . . .The Bush administration has quietly contacted 50 countries, including Canada, Britain and Germany, to solicit contributions of troops and war material in the event Bush decides to use force, a senior administration official said Wednesday.

Complete article here:

Bush: NATO Should Be Firm on Iraq

Richard W.

[razorback-bert]

The Fed has alerted us to the problem, but believes the potential for risk is very low. Why, then, are they making so many speeches making reference to it?

I have an opinion, but not enought tinfoil in which to wrap it.

[dalereed]

"Although I am not a tree hugger, I do appreciate the glories and wonders of nature. I figure that I'm pretty average in that respect."

Minerals are where the good lord placed them, not where the tree huggers would like you to look for them. Everything that we use requires one form of mineral or another and we had better start mining and drilling for them here instead of being dependant on some third world country that could shut us off in an instant.

Bring heavy industry back to this country without all the enviro regulations, government regulations, and union rules that stiffel production or we are going to wind up being taken over and become slaves in a socialist world.

[antaresequity]

Fib Waves

[B4Ranch]

I'm wondering if that was part of the PLAN when Bush was elected. "You will have a war within two years" Is that what the big donors told him? lots of money to made during a war, ask all the businessmen who became millionares during Nam. I know three of them who made it to multi during Nam. One in packaging, one in plastics and one in shipping.

[razorback-bert]

Unfortunately there will be war in ME, I prefer we chose the time and place.

[antaresequity]

Ummmm....are you suggesting that President Bush had forknowledge of 9/11 and did nothing about it?...it sure seems to me thats what your saying....He may be a power hungry politician, but he would never sacrafice American lives for political gain...he is principled...unlike the previous occupant.....

And he takes the business of protecting this nation damn serious IMHO

[arete]

Bring heavy industry back to this country without all the enviro regulations, government regulations, and union rules that stiffel production or we are going to wind up being taken over and become slaves in a socialist world.

If you had ever seen, or worse lived in places like Gary, IN or Pittsburgh, PA in the 50,s and 60's, you might not be saying that. Only places I know where the air actually had texture and color to it. Anyway, regulations are only part of the manufacturing problem. The other part is cheap labor and we don't have it. Americans are funny that way. They want cheap goods and services that are produced here which is inconsistent with our high standard of living.

Richard W.

[dalereed]

I grew up in Los Angeles in the 40s and i'll gladly go back to the dirty air, which only affected a few people (let them go live somewhere else if they don't like it) for the clean air and excessive government and socialized society of today.

We also had Kaiser Steel, now shut down, which limited visibility but there again, the living standards that were produced far outweighed the small inconvience of dirty air.

[arete]

Unfortunately there will be war in ME, I prefer we chose the time and place

The ME without war and insability is like a day without sunshine. If it wasn't for their oil, I doubt that we'd care much about them. Iran is one of the bigger sponsors of terrorism but we aren't going after them because Saddam has more oil reserves and much easier to paint and give a face to an "evil doer". This war is a lock. UN inspections are a sham -- a dance for the sheep to believe that Saddam isn't complying. I just wish that they'd say it clear and simple right up front that way I wouldn't be so disappointed in GW's dishonesty.

Richard W.

[arete]

small inconvience of dirty air.

The little inconvience used to literally kill people, shorten life spans and strip the paint right off cars. You want to go back to that?

Richard W.