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Discussion Starter #1
This moratorium on US drilling is going to cause every price to go up... from food to manufacturing. This fool needs to release 10% of the petroleum reserve... otherwise we will be paying 60 to 70 cents more a gallon within weeks. This is a direct impact due to the fools moratorium on US drilling. Demand has not increased, but rather, decreased... yet we paying more per barrel.

The fool is either inept... or this **** is on purpose. I put my money on the latter.


NEW YORK (Dow Jones)--Oil prices finished lower Tuesday, capping a day of erratic trading that briefly saw oil touch a two-year high above $90 a barrel.

Light, sweet crude for January delivery settled down 69 cents, or 0.8%, at $88.69 a barrel on the New York Mercantile Exchange, after earlier climbing as high as $90.76, the highest price since October 2008. Prices extended their losses in late electronic trading, recently falling 99 cents, or 1.1%, to $88.39 a barrel.

Brent crude on the ICE futures exchange recently fell 48 cents, or 0.5%, at $90.97 a barrel.

Crude's turn lower came as traders sought to lock in profits following a run past the key $90 threshold in early Nymex trading. Oil has pushed steadily higher in recent weeks on encouraging economic data in the U.S. and anticipation that emerging markets are eating into oil supplies, though quick selling has followed each time crude has neared $90 a barrel.

"It's technical selling," said Mark Waggoner, president of Excel Futures, on oil's midday retreat. "This market's made a hell of a run in the last two weeks."

Crude was also pushed lower Tuesday by a stronger dollar, which came on the back of rising Treasury yields. A stronger dollar typically weakens the price of oil because it makes the commodity more expensive to buy with weaker currencies. The ICE Dollar Index, which tracks the greenback against a basket of trade-weighted currencies, recently rose to 79.779 from 79.571.

Looking ahead, traders will turn their attention Wednesday to a closely-watched report on U.S. crude and fuel product inventories from the Department of Energy. The report, due at 10:30 a.m. EST, will offer insight into whether energy stockpiles are continuing to fall from 27-year highs reached in September.

U.S. crude-oil inventories are expected to fall by 1.2 million barrels during the week ended Dec. 3, according to a Dow Jones Newswires survey of analysts. Gasoline stocks are seen rising by 100,000 barrels, while stocks of distillates, which include heating oil and diesel, are seen falling by 600,000 barrels.

The American Petroleum Institute, which conducts its own inventories survey, said late Tuesday crude stockpiles fell 7.3 million barrels last week. Gasoline stocks jumped 4.8 million barrels, while distillate stocks rose 1.7 million barrels. Refinery use rose 4.2 percentage points to 86.1%, the industry group said.

The Organization of Petroleum Exporting Countries also meets later this week in Ecuador. Market participants will be closely watching any announcement from the meeting, though the group is widely expected to keep production quotas unchanged.

Tom Bentz, analyst at BNP Paribas, said it is noteworthy that oil prices are hovering at $90 a barrel at the same time OPEC prepares to meet. Last month, Saudi Arabia's oil minister told reporters that the country, OPEC's largest oil producer, was comfortable with oil at $90 a barrel.

"Sometimes the market tends to test the OPEC guidelines," Bentz said.

Front-month January reformulated gasoline blendstock, or RBOB, fell 1.87 cents, or 0.8%, to settle at $2.3230 a gallon. January heating oil gave up 0.55 cent, or 0.2%, at $2.4702 a gallon.

http://online.wsj.com/article/BT-CO-20101207-714375.html
 

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It would seem we have failed to rein in the speculators is all.
 

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Discussion Starter #3
This is not based on speculation... it is based on an obvious. This is based on supply. If he were in anyway pro country... he would release 10 to 30% of the reserve to the nation... and buy it back at a lower price... a lower price that would be due to an increase in supply. That would throw off any speculation of the obvious.

Think the fool, will ? No ! -He'll get his tax increase on the rich... one way or the other.

I wonder if any of you leftists will come forth and claim that he made a deal with the Saudi's... the way you did with Bush ? Maybe that's what that peasant bow was all about.
 

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He and his ilk can't wait for gas to be $5/gal. That's the only way their alternatives will ever be accepted by the public. They are determined to change our way of life, and the best way to do it is make energy a premium product.
 

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Discussion Starter #5
Fundamental transformation. Our country is under attack, from within.
 

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Fundamental transformation. Our country is under attack, from within.
Thank you


Yes,

We are being undermined by our own government

In the end our demise won't come from an attack by a foreign country

But From our own people:nuts:and their Government


My Grandfather always said that

And guess what we are witnessing this today as we speak

Bon
 

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"Futures" = Speculation

Pure and simple. Does not take anyone with any brains to know that.
 

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Discussion Starter #9
:laughing: -friggin meatball...
 

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"Futures" = Speculation

Pure and simple. Does not take anyone with any brains to know that.
Any commodity traded on an open market is speculative. Speculators can and do affect market price, naturally. But, this market is no place for speculators at this time, simply because the economic condition of the world markets is too volatile. Simple supply/demand is driving the price. The producers want $100 oil, and they will scale back production to get it.

The counter for this, is development of our own resources, so the market is not easily manipulated by speculators or foreign producers.

The Obamanation has said multiple times (I know you don't like to hear them in their own words) they are wanting to reduce fossil fuel consumption by any means necessary. And if cutting our own production (and our own throats) is what it will take, so be it.

For you, the man is simply a black dude in the WH catching flak, for anyone with the time/drive to do some research, he is much, much more. The history, writings, speakings, etc, are all there to see for yourself. But it does seem that for you, the easy way is to listen to Olderscam, and ignore the obvious.

:cheers:
 

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Drilling in the gulf or releasing reserves will not touch the global market investors and changes in futures values.
 

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Drilling in the gulf or releasing reserves will not touch the global market investors and changes in futures values.
It always has, why do you think they call it the "strategic reserves"? Surely you didn't think it was because of it's geographical location... :laughing:

Anytime drilling is up in the US, the market responds with downward pressure on the price. Anytime the US releases reserves, the market responds with downward pressure on the price.
 

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It always has, why do you think they call it the "strategic reserves"? Surely you didn't think it was because of it's geographical location... :laughing:

Anytime drilling is up in the US, the market responds with downward pressure on the price. Anytime the US releases reserves, the market responds with downward pressure on the price.
disagree.

Made no difference from 2001 to 2008,
makes no difference now.

We had all kinds of increases in oil production in 2006 thu 2009, and reserves opened...

Nada....
too much power in the global market.
 

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Discussion Starter #14 (Edited)
Did the US contribute to that supply ? Are we now contributing to that supply ? Was the demand for that supply equal to today ?

Ask yourself these questions... then re-read your posts.
 

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Discussion Starter #15
Here, brother... watch this short clip. -and -so you do not think I am spiking the ball... I got video from your sides ideology.

 

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He and his ilk can't wait for gas to be $5/gal. That's the only way their alternatives will ever be accepted by the public. They are determined to change our way of life, and the best way to do it is make energy a premium product.
:agree:
This is the same mindset as the those in California that refuse to allow more power plants to be built, and then go crazy when they have to issue rolling brownouts during peak demand periods.

This is what we're faced with...
I was talking with a young Florida girl ~18 years old in a group chat not long ago. I explained that I only drive ~200 miles a month in my DD and only ~500 miles a year in each of my vettes and have a very low carbon footprint. Her answer was, "it's so embarassing to drive a car." :laughing:

Is this the future of our country?

All coal and oil energy production is being shut down or scaled back by these fools. Not only is it driving energy prices higher, it's destroying entire economic centers that have been built up around them. Oil prices going up is just a symptom of the problem.

One other thing that gets very little mention, and I don't know why, is trucking. Everyone is concerned with gas prices, but if you look at diesel fuel it costs much more than gas. Diesel fuel prices will go up more than gas and in turn since everything is transported at one point by trucks and fuel prices are the #1 recurring cost, shipping rates will go up, in turn every consumable will also. Energy prices going up is just the tip of the iceberg.
 

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This particular run up on oil prices is the result of the Federal Reserve's continued effort to maintain a weak dollar. It's got nothing to do with supply, refining capacity, weather, or global insecurities. High oil prices will drive this economy down further negating what small recovery we have had so far. As a result expect to see employment remain stagnant and the unemployment rate remain failry steady over the next 2-3 quarters. The Fed should be adopting policies that will strengthen the dollar on the world market, then you will see the economy pick up speed.
 

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This is not based on speculation... it is based on an obvious. This is based on supply. If he were in anyway pro country... he would release 10 to 30% of the reserve to the nation... and buy it back at a lower price... a lower price that would be due to an increase in supply. That would throw off any speculation of the obvious.

Think the fool, will ? No ! -He'll get his tax increase on the rich... one way or the other.

I wonder if any of you leftists will come forth and claim that he made a deal with the Saudi's... the way you did with Bush ? Maybe that's what that peasant bow was all about.
Seriously is anyone in here ever going to do the slightest bit of research before they spew crap or has this truly become a stopping ground for the uneducated and stubborn.

The oil prices are pure speculation and are based on an overall world market consumption. Many other nations are just coming into their industrial explosions and heavy winters and as they build and heat they are more reliant on world resources. We get only about 12% of our oil from Saudi and we get almost 34 percent from Mexico and Canada combined. There is no need to open our oil reserves at this time..
What needs to happen is the WORLD needs toi agree on a fixed asset managment schema for oil and other volitile commodites pricing.. Until that happen the wild upswings in pricing won't change-- the markets will drive prices. period.

Want to talk about a conspiracy-- do some real research and see how much oil we get from which countries--- then compare those countries to the locations that feed our illegal drug habits. there is a statistical correlation-- The conspiracy isn't with OPEC anymore-- most of their oil goes east not west.
 

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This particular run up on oil prices is the result of the Federal Reserve's continued effort to maintain a weak dollar. It's got nothing to do with supply, refining capacity, weather, or global insecurities. High oil prices will drive this economy down further negating what small recovery we have had so far. As a result expect to see employment remain stagnant and the unemployment rate remain failry steady over the next 2-3 quarters. The Fed should be adopting policies that will strengthen the dollar on the world market, then you will see the economy pick up speed.
do you realize the world oil trading currency is the USD? it is lock stepped with brent sweet crude.

and exactly how can the fed manipulate the Shanghi Stock exchange who speculates in the buying of fuels for it's economy?
 
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