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Our economists are really smart:
Expensive oil is good!
Poor people will now be using the bus and their bikes a little bit more and this is good for the environment!
For the state it's also very good because of the revenue that helps them with their deficits and they would be a fool to let the price go down...
yes... the environment...
They repeat those morons idea's every hourover here on the radio...
consequences for the economy aren't really a thing to worry about...
and if they repeat it another 1000 times, most people will start to agree and soon we'll be wondering why 400$ oil isn't here it...
This Bloomberg Report may give your portfolio a rise.
You got the $5 gallon gasoline you wanted. Good by and good riddance Obama.
"Good night.......and good luck"
You are deluded if you think anyone in the Oval Office can do anything about the price of gas....
The only thing scarier is that some people in the oval office think so too :/
You are deluded if you think they can't intentionally cause a rise in the price of anything.
Look buddy, instead of listening to asshats that say "Drill, baby, Drill" look at the data. Here is a link (sorry, its slow) that should tell you what is going on (I like it because it gathers a lot of info in one place)
Scroll down, there are about 6-7 charts pulled from the IEA...
There are more rotary oil rigs out running now than there has been since 1987 (when the data series started)
The number of wells being drilled is back to the level in mid-eighties, we are pin cushioning the country....
The cost of drilling is doing a moonshot....
I bet those Chevy Volts are just gonna start flying out of the lots now!
I wonder at what gas price those things become economical (if it fits your commute, of course)???
People aren't buying Volts for gas mileage (Prius is better and cheaper).
They're buying to make a political statement.
Not any cheaper under GWB, remember 2007-2008-- "Oil futures...skyrocketed, as the price of a single barrel went from around $60 in the middle of 2007 to a high of $147 in the summer of 2008."(1)
This price manipulation is so far above the Puppet in Chief level. Link below only scratches the surface but worth the read--GS not the only rat bastards.
Trying for 2.50 on SSN.
If average price for Brent is $124 for the year, what is the DOW average for the year?
16,000.... the HFT algos will make sure of it.
Top notch report.... spotted one error in a quick cursory look
Manifa has the problem of too much trace Vanadium. Vanadium destroys the catalytic crackers in a standard refinery...
Reposted from an earlier thread:
Here is a toy model of oil pricing:
Oil price inelasticity = -0.06 to 0.07 i.e. 1% cut -> 14-16% price increase
Brent Price Jan 2005 ~$40
World Net Exports since Jan 2005 = ~ -9%
Dollar index factor for time period: DXY 90/76
Predicted value of brent today: $108 - $118
Absolutly fucking remarkable, eh?
yes, when the aggregate dropped so close to one percent we seen a 10% pump rise to consumer. Just a outlier report. They will not admit it but I feel they are at 140.00 model margin. The point is big fish will eat small fish as bolt on revenue models. Plan ahead... seen it before
Spare capacity in oil is much like listening to bums ask for spare change.
Average Brent for the full year. 124?
Hmmmmm, I guess they cannot come off sounding like doomers, can they?
200 and it will stay there once it breaches it.
Only the Militaries will be allowed cheap oil (their contracts are already in place a long time ago, BP major Pentagon supplier BTW).
Facts are about to get a wrenching change.
And now for something completely different
No Fly Zone Update
Bye-bye cheap food, hello turmoil
Planets and Earthquakes...
With Brent going up sharply again, we are in for second peak in this graph,
commencing yesterday, and peaking at around April 1st with Brent crude STABLE above 125 USD, with a possible short spike to 135 USD somewhere near the top.
After that, another downturn to during May Brent 110-115, and then, in June-July upturn to 140-150 USD peak. The scale on the graph is 5-8% below what is really happening, but , if USD strengthens, may be realistic. USD will strengthen still in 2011. Its currency in which military protection of oil assets is bought.
The Stock market will of course move down all this time ( as it has started from February 18th) till middle May-middle June, with a small return before final realization the USA is heading for recession due to Oil prices and fiscal restraint, as easing to make oil more expensive and spend extra printed money on it makes no sense, as it does not contribute to growth:
I published the graphs on February 6th, so there is some predictive power in them already.
Kudlow save us!!!
Yeh we are almost out of oil, we don't know what to do. God help us. blah blah blah blah....Fear , fear , fear , fear. Damn it, I feel like humbugging today. Does anyone want to put on the gloves?
I've got time to go a few rounds....
don't ya love how they keep misdefining peak oil as almost out?
[Cdad raises hand]
I do...neighbor...you fuck!
perhaps you want to take off the gloves, Fight club style?
I don't need know fuckin' gloves. I own VXX up the ass! I reduced silver so that I could buy the fucking dip!
And your face will do just as well as any other...
You are mean and feisty today Cdad....
You got that right, you twat. Picked a bad day to quit smoking.
What...no one wants a piece of me? That is unusual.
Buy the fucking VXX you dip shits. On a 90 day chart, there is a 31% fucking price dislocation...the result of the criminal syndicate known as Wall Street naked short fucking selling the fucker into oblivion for the purpose of keeping the fraudulent rally going with their fucking Marxist tactics...the fucks!
So my point is...even if the market stabilizes right here [which I don't think it will]...this thing will probably continue to rise...you fuckheads!
Hey, I picked up Apr 53 SSO puts yesterday... I got no bone to pick...
What fucking good is that! Go short a fucking casual dining stock, for fuck sake...as 4 fucking dollar fucking gas is coming no matter what fucking game the criminal syndicate known as Wall Street plays today.
You tell me...what is more fucking fun than shorting a shitty restaurant chain? I hate fucking shitty restaurant chains! Fucking short the lot of them...while the VXX carries you inexorably upward.
And fuck Marxism, too!
I play the game differently.... I got burned bad in Sept 08 being short 5000 shares of COF the day the fuckers changed the rules before the fucking botton fell out...
For fuck sake, Flak,
Re grow yer pair, fuckstick!
My pair is just fine, thankyou... Lets see how you deal with a $75,000 hit in one position in one day, when you were margined.
how can Erste calculate the oil price correctly (they see the future right? the amount of burned oil fields or a super duper democracy)
and couldnt see the money printing early enough ???? that makes no sense, even zero hedge knows better
they are either lying, or just plain making numbers up as we go
how much would oil cost if the whole middle east starts burning (good bye super duper democracy) and who ever relied on oil from middle east would have to find another supplier or use bikes like the dutch, or like the danish where they bike their kids in show on the way to school and work in the morning
but then again, having less cars on the road in the west is a nice thing
Did you read my post? Predicting the price of oil is childs play in the limit of small excess production capacity....
"When the Levee Breaks".....LedZeppelin and Neil Young classic sound check/rehearsal in Cleveland
YouTube - Zeppelin & Neil Young RnR Hall Of Fame When The Levee Breaks
Prefer the all Zep versions, myself... here's an alternate take you might enjoy:
Karl Denniger is a friggin moron
Bad News: We are now in a sell mode.
Good News: Crude oil is finally crashing, giving much relief to retail stocks and airlines, which are celebrating this event as commodity stocks are now in full crash mode.
always good to analyze million year energy source with one minute market
Notice how JPM is unfazed today.
Why is that?
100% success rate at shorting gold and silver at the appropriate times, and cleaning out the CIGA's once again.
remember, folks. as zh's resident genius - the old catfish mouth robo uber bull bear wannabe - told us, it's easy to make money in the market. all you have to do is buy jpm. of course, as far as is known, the old catfish doesn't own jpm, or at least he hasn't told us so as he has everything else about himself.
of course, the old catfish told us it was easy to make money before he told us it was "a jungle out there" which was before he told us it was easy which was before ..... well, you get the point.
btw: as i type jpm is down 2%. oil is down 2.5%.
odd that oil is crashing but jpm is unfazed even as they trade within 1/2% of each other.
what a fraud the girl is.
yeah, the act is getting old, why does he still have rights to post graphs anyway, really cheapens the site.
You don't need to get this from Robo when you can get it all day long on the Ministry of Truth [CNBC] where the whole institutional game is the constant gentle establishment/movement of expectations.
That is what Robo is into. That is what The Street is into. The criminal syndicate known as Wall Street has only this product to show for itself...expectations. And that is why they constantly move them around...so they can bag a few points on the spread.
As others refer to them, the parasite class...the class that makes nothing but somehow controls everything. Well, except the price of silver, of course ;)
Yes, "cleaning them all out" all the way back to levels not seen since A WEEK AGO.
Why don't you ever talk about how the CIGA's are WINNING every time gold hits a fresh all time high, or how they are winning when silver hits a fresh 31 year high?
Oh, that's right, you are a slave to your bias. Keep shorting it, catfish mouth. Get what you deserve, your 7th bankruptcy in 5 years.
To all you loyal Democrat American Jews you now can refer to yourselves as "Jewicidal". Nice job thinking Rahm Emmanuel cared about anything more than self agrandizement. Not to mention the Saudi's who now see Obama as tilting toward fundamentalist Muslims & eschewing more liberal Musims. Next move, Netanyahu.
Obama accepts prospect of nuclear-armed Iran DEBKAfile Special Report March 10, 2011, 2:42 PM (GMT+02:00).
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