OPEC about to get a haircut (12)
Going beyond the cost of oil. The worst part of this whole scene is the east coast, where heating co. are charging people for oil to heat their homes, collecting the money, then closing up shop. They are taking money from the people who are feeling the pinch right down to their bones.
Any ways, any one who takes for the old should go to hell, or jail. No contest.
Any ways, any one who takes for the old should go to hell, or jail. No contest.
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yep, people don't realize...that 80% of all oil in the USA goes to the Northeast.
Anyone that can't afford to go South for the Winter (poor, middle class?) is in danger of freeing to death.
If they keep raising the price and Bush doesn't subsidize people who need it, then people WILL freeze to death.
But it could just be part of the evil plan. Time will tell.
Anyone that can't afford to go South for the Winter (poor, middle class?) is in danger of freeing to death.
If they keep raising the price and Bush doesn't subsidize people who need it, then people WILL freeze to death.
But it could just be part of the evil plan. Time will tell.
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Bush is a joke, not a current event. As are the attornys and and jugdes that would take those belly up co. to court. Our system seems to unravelling right before us. Which is a shame because we have to the power and the numbers to change and create a better system, something for everyone.
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ooby_dooby: Energy companies were by far the worst-performing group in the Standard & Poor's 500 Friday as crude-oil futures slid to a fresh 3 1/2-month low and the Organization of Petroleum Exporting Countries issued a report indicating world stockpiles will grow. Also dragging down the sector is the stronger dollar, which chased investment funds out of commodities. The S&P 500 energy sector was recently down 1.76%, with losses in oil companies partially offset by gains by refiners. Hess Corp. (HES), National Oilwell Varco Inc. (NOV) and Occidental Petroleum Corp. (OXY) were all down more than 3% in recent trading. Coal companies Peabody Energy Corp. (BTU), Consol Energy Inc. (CNX) and Arch Coal Inc. (ACI) - which isn't a S&P 500 member - were also down more than 3%; the trio has seen volatile trading of late amid the fluctuations in crude prices. Refiners were among the only energy companies in the S&P 500 that were up, with Sunoco Inc. (SUN) rising 2.5%, Tesoro Corp. (TSO) climbing 2.4% and Valero Energy Corp. (VLO) up 1.6%. Refiners haven't benefitted from surging crude prices, as they haven't been able to fully push through to consumers their increased costs of buying oil when selling their refined products. In its monthly report, OPEC said current production by its member countries is well above expected demand for OPEC crude, a trend that the group said could lead to a potential sharp build in crude-oil inventories. -By Jennifer Hoyt, Dow Jones Newswires; 201-938-2474; jennifer.hoyt@dowjones.com (Gregory Meyer contributed to this report.)
I told you crude oil was going to crash 2 months ago! Who do you think is responsible for this?
YOU ARE! By driving less, parking that gas pig, car pooling, riding your bikes and walking you have succeeded in bringing big oil to it's knees.
I told you crude oil was going to crash 2 months ago! Who do you think is responsible for this?
YOU ARE! By driving less, parking that gas pig, car pooling, riding your bikes and walking you have succeeded in bringing big oil to it's knees.
Central Banks.Namely Federal Reserve.That's who.
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I agree that the market is heavily dependent on the demand, and when demand goes down, so does the price.
However, the one thing I take issue with is that Big Oil is not some magical rainbow in a far away distant galaxy like so many believe. For anyone who owns a retirement account, be it a 401K, or any of the other mutual funds or managed accounts, the people who own the oil companies is Us.
So when politicians start talking about windfall taxes and all that, they are actually talking about raising the taxes that retirees pay, etc. because any publicly traded company is owned by individuals.
So basically, Big Oil is a misnomer.
However, the one thing I take issue with is that Big Oil is not some magical rainbow in a far away distant galaxy like so many believe. For anyone who owns a retirement account, be it a 401K, or any of the other mutual funds or managed accounts, the people who own the oil companies is Us.
So when politicians start talking about windfall taxes and all that, they are actually talking about raising the taxes that retirees pay, etc. because any publicly traded company is owned by individuals.
So basically, Big Oil is a misnomer.
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LovingMassage: I agree that the market is heavily dependent on the demand, and when demand goes down, so does the price.
However, the one thing I take issue with is that Big Oil is not some magical rainbow in a far away distant galaxy like so many believe. For anyone who owns a retirement account, be it a 401K, or any of the other mutual funds or managed accounts, the people who own the oil companies is Us.
So when politicians start talking about windfall taxes and all that, they are actually talking about raising the taxes that retirees pay, etc. because any publicly traded company is owned by individuals.
So basically, Big Oil is a misnomer.
However, the one thing I take issue with is that Big Oil is not some magical rainbow in a far away distant galaxy like so many believe. For anyone who owns a retirement account, be it a 401K, or any of the other mutual funds or managed accounts, the people who own the oil companies is Us.
So when politicians start talking about windfall taxes and all that, they are actually talking about raising the taxes that retirees pay, etc. because any publicly traded company is owned by individuals.
So basically, Big Oil is a misnomer.
Good point. I just recently started a 401K and was offered a company that chose groups bassed upon what was good for consumers/families. I should take a better look at my plan and see what's up. I also need to invest in a bike. Yeah, yeah, i know, i'm sorry and am working on it. I promise.
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Kodi58: yep, people don't realize...that 80% of all oil in the USA goes to the Northeast.
Anyone that can't afford to go South for the Winter (poor, middle class?) is in danger of freeing to death.
If they keep raising the price and Bush doesn't subsidize people who need it, then people WILL freeze to death.
But it could just be part of the evil plan. Time will tell.
Anyone that can't afford to go South for the Winter (poor, middle class?) is in danger of freeing to death.
If they keep raising the price and Bush doesn't subsidize people who need it, then people WILL freeze to death.
But it could just be part of the evil plan. Time will tell.
OK G-dub is buddies with the Good Ole Boys, the Good ole boys are Oil Boys... so if Bush pushes the oil prices up or inderectly, geuss who's Pockets get fat??????
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friendsfirst: Central Banks.Namely Federal Reserve.That's who.
That's an interesting perspective. But I'm somewhat ignorant as to how the Fed caused oil prices to come down. I know the US Dollar is gaining strength compared to the Euro and other currencies. Has the Fed done something to make our dollar more desirable?
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It strictly a supply and demand that brought it down,the market could not sustain oil at 155 per barrel.When the demand is greater than or equals the supply then it goes up and vice versa,Plus as uncle Sam Dollars get stronger the price goes down.
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American are driving millions of fewer miles as the price of gasoline and diesel rose. We reduced our driving over the last 1 and 1/2 years.
By abut 4% so far......and the price has nose dipping at about a 45 degree angle right now.....the last few months.
With alternative energy and hybrid cars on the near horizon, that nose dip is going to continue. So? This is beginning to be reflected in the oil supply and demand picture.....and in long term speculation.
Say you are a oil speculator. You see a sharp drop in demand. With the future demand in question to where it will fall. Most oil futures are
bought and sold 1 and 1/2 years in the future. Meaning that when that
future is made......the demand could be at -8% where it is today.
That means?
Harder to sell any high priced crude that you acquire today. Prices both at the pump and in the commodity market are begining to reflect this.
We cannot say that it was Washington doing it? We cannot say that it is OPEC or the big oil? Washington cannot even agree on offshore oil drilling. And by now we know that OPEC and big oil would have those
prices high for ever small reason or bump in the world that there is.
That returns to less demand.....fewer miles be driven......and the
American people doing it. Nice Job Guys and Gals! We only have another 30 or 40 points to go....to send OPEC, the Oil Companies and Washington, the message that we intend to be oil indepedant.
By abut 4% so far......and the price has nose dipping at about a 45 degree angle right now.....the last few months.
With alternative energy and hybrid cars on the near horizon, that nose dip is going to continue. So? This is beginning to be reflected in the oil supply and demand picture.....and in long term speculation.
Say you are a oil speculator. You see a sharp drop in demand. With the future demand in question to where it will fall. Most oil futures are
bought and sold 1 and 1/2 years in the future. Meaning that when that
future is made......the demand could be at -8% where it is today.
That means?
Harder to sell any high priced crude that you acquire today. Prices both at the pump and in the commodity market are begining to reflect this.
We cannot say that it was Washington doing it? We cannot say that it is OPEC or the big oil? Washington cannot even agree on offshore oil drilling. And by now we know that OPEC and big oil would have those
prices high for ever small reason or bump in the world that there is.
That returns to less demand.....fewer miles be driven......and the
American people doing it. Nice Job Guys and Gals! We only have another 30 or 40 points to go....to send OPEC, the Oil Companies and Washington, the message that we intend to be oil indepedant.
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ooby_dooby: That's an interesting perspective. But I'm somewhat ignorant as to how the Fed caused oil prices to come down. I know the US Dollar is gaining strength compared to the Euro and other currencies. Has the Fed done something to make our dollar more desirable?
I will stay on topic to your question.YES.They raised interest rates.Significantly.I am talking about the fed funds rate at the discount window.
It took some time for this to filter thru.Am actually looking at the banking sector for very long term bargains. One name in particular.
Now the not so obvious answer.In a fairly distant.(Few years ago) past the fed funds lowered discount rates to 1%.
Yes exciting.Free money,also accompanied by hyperinflation.
Gotta go for now.Have a great weekend.
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Created: Aug 2008
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I told you crude oil was going to crash 2 months ago! Who do you think is responsible for this?
YOU ARE! By driving less, parking that gas pig, car pooling, riding your bikes and walking you have succeeded in bringing big oil to it's knees.