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To: spunkets

OK, now I've got a bit of time to answer.

Concerning how there is no oil shortage, and how there's actually an oil glut, if you do a news search on the words "oil glut", you'll find some current information on this subject.

http://news.google.com/news?hl=en&tab=wn&q=%22oil+glut%22&ie=UTF-8&scoring=d

Here's an article that might be worth posting.

Peak Oil Panic
http://www.reason.com/0605/fe.rb.peak.shtml

Here's another.

State seeks remedy to oil glut
http://www.jacksonholestartrib.com/articles/2006/03/28/news/wyoming/f235263e68876d708725713f0004b4e6.txt

As far saying the price of gas or oil is too high, or that it's ridiculous, that of course is just my opinion, verses the opinion of those who say it's really cheap at this price, and actually worth a lot more.


338 posted on 04/27/2006 9:58:16 AM PDT by voteconstitutionparty
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To: voteconstitutionparty
"Concerning how there is no oil shortage, and how there's actually an oil glut, if you do a news search on the words "oil glut", you'll find some current information on this subject."

The only decent link in the post is the Reason article that list doomsday prophets. The rest are rubbish like the doomists in the Reason article. There is no glut. The Wall Street Journal and the Interior dept says so with hard data and I don't believe in crackpot economics and conspiracies. Here's from the Reason article.

"The problem is that the vast majority of the world’s remaining oil reserves are not possessed by private enterprises. Seventy-seven percent of known reserves belong to government-owned companies(or are controlled by govm'ts like the feds). That means oil will be produced with all the efficiency associated with central planning."

That's undeveloped resources put off limits by govs, like the fed and state EPAs. The peak looks to be around 2030. At present the oil might sell at ~$45 a barrel w/o the uncertainties presented by the world's nutjobs.

"I have a brokerage account with equity, so I can short oil or oil related stocks anytime I feel like it. "

Since you advocated selling short and claim there's a glut, you should scan and post the sales slip.

365 posted on 04/27/2006 9:42:28 PM PDT by spunkets
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