chistletoe

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  • The Oil Bubble Will Meet the Same Fate as Tech, Housing
    oh fun.
    yngalpacinolookslikeme -- yes there are a lot of poor people in china.
    Do you know that there are also many more college graduates, high school graduates, and people who speak and write English than there are in the USA? No, maybe not, because you didn't, didn't, and don't.

    Feverblister --
    you are half right ... gasoliine is in the upper half of the range.
    Here's the EIA monthly and yearly figures for crude:
    tonto.eia.doe.gov/dnav...
    Note that the last time inventories were this low was in Dec, 2004.
    Note that the US population has increased by 15% since then ...
    probably though, mostly by people like yngalpacinolookslikeme
    who don't have indoor plumbing, let alone a car ...
    Your opinion about inventories being inversely proportional to demand is interesting ... it seems to me that hoarding may be
    a factor also and that anyway, the total amount of crude oil and
    gasoline in the report, excluding the SPR, is scarcely a one-month supply fur current US usage so it's not really all that significant a factor in the price of crude anyway ...its probably nearly all necessary to keep the supply chain running between the tankers and the refineries and the filling stations ....
    As for inflation ... which is far above what the DOL figures claim
    and can only continue to increase as the Federal Reserve has to print more and more money to lend to itself, as more and more foreign entities stop loaning money to the USA ...
    yes, the imminent collapse of the US government might have an interesting effect on exploration and net demand ... what do you think will happen?
    Jul 18 14:19 pm |Rating: 0 0 |Link to Comment |View article
  • The Oil Bubble Will Meet the Same Fate as Tech, Housing
    obviously you have a lot of people who agree with you.

    The price of oil "falls" to $130 a barrel, and doomsayers come out of the woodwork.

    The key here is your statement "gasoline shortages don't exist and new oil is plentiful" ...you have no facts to back this up, only your own beliefs ... inventories are at a five year low ... the amount of finished gasoline in the system is so low that spot shortages are very, very likely to begin occurring later on this year ... exploration and new drilling and other capital investments are at an all-time high, yet the new oil coming on line is not anywhere close to replacing the decline of the huge old discoveries such as Cantarell and Ghawar ... the fact is that worldwide, total oil production has gone into a sharp decline since 2005 ... yes, the "high" prices now have contributed to some demand destruction, especially in the USA ... but the supply is dwindling still faster than demand ... yes, we have a correction to $130 from $145 .... but the trend is still in place, and if you are still short, then you deserve very bit of what happens to you going forward ....
    Jul 18 09:36 am |Rating: 0 0 |Link to Comment |View article

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