Crude high price seems dumb

[fkbsuhites]

ah yes. Epitaphs from another of ET's paper trader

good luck with your paper profits if you think "roll overs" is a big factor in futures pricing. The term shit-for-brains come to mind.

At least you correctly identified with my absolute disgust with anything or anyone remotely connected to neo conservatism/ neo commies / corporate socialists. Molten lead poured down the throat is the only way to deal with them.

Quote from rubibond007:

Your biggest confusion is that you are a demagogue.. Now I understand why you infest ET with your ideological craps. You don't even Know how the markets works.

Have you ever heard about "rollovers" ??. You sack of shit!

 

[silk]

Amazing, United States production is up enough y/y to replace China growth for this year.

Just me, but that seems extremely not bullish!!!

 

[Ex_d]

Quote from Cheese:

A cartel, OPEC, controls 40% of oil output so as a result there can never be a cheap oil price save only for short periods when OPEC is adjusting downwards its quotas under excess supply pressure.
This is obvious but it does not stop politicians and ET's conspiracy theorists from blaming manipulation by the oil companies, hedge funds, Wall Street, etc.

bullshit...do not underestimate the current energy consumption level of OPEC. Do You think all this flamboyant fountains, swimming pools ans sky scrapers in the middle of the desert are working on the dried camels excriments? As a matter of fact they are not able anymore to control production.
GS and others fucking "power hoses" DO control the prices. 80$ crude has nothing to do at the moment with OPEC and fundamental factors.

 

[Cheese]

Quote from Ex_d:

bullshit...do not underestimate the current energy consumption level of OPEC. Do You think all this flamboyant fountains, swimming pools ans sky scrapers in the middle of the desert are working on the dried camels excriments? As a matter of fact they are not able anymore to control production.
GS and others fucking "power hoses" DO control the prices. 80$ crude has nothing to do at the moment with OPEC and fundamental factors.

You don't know. And you usually don't know.

 

[Landis82]

Quote from S2007S:

Oil along with all other commodities are completely inflated, everytime I tune into cnbc or read an article related to china or any other emerging market the talk is commodities, some of the commodity stocks are up Hundreds of %%% over the last 6-12 months. As for oil its headed for another bubble. Oil at $150 was a joke and even at that time the economy was doing a lot better than it is now, anyone who thinks oil can keep an upward trend and start to head back up to 100, 120, 130 and even $200 is a fucking fool. Even if it did get that high it would collapse 10x quicker than it did when it dropped from $150 to low $30's. Demand will drop and the economy will sink even deeper into recession. Oil cannot sustain these levels in such a weak economy being propped up by stimulus money.

And you've been absolutely CRUSHED playing the short side of equities and commodities given you "perma-bear" views on the US Economy for the last ten months.

You are without a doubt, the greatest single CONTRARY sentiment indicator on ET. Keep up the "good" work!

 

[drjekyllus]

Quote from Landis82:

And you've been absolutely CRUSHED playing the short side of equities and commodities given you "perma-bear" views on the US Economy for the last ten months.

You are without a doubt, the greatest single CONTRARY sentiment indicator on ET. Keep up the "good" work!

Actually, you are the single greatest CONTRARY indicator.

 

[Copernicus]

Quote from silk:

From todays inventory report.

Domestic production up 9.1% year over year.
Net imports down 15.4% year over year

Products supplied past week up 0.3% year over year. And thats even with crazy cold weather. Without that extra heating oil demand would be down year over year.

So production is way up. Demand is flat at best. And the need to import is way down.

But still we have to pay Opec $83 which is 30% above what we paid in 2007 when all world economies were firing strong. This can't be rationalized. Refineries have been mothballed all over the world because of poor demand. But yet the price of crude goes higher and higher.

Don't even get me started about copper price with its record setting string of 70 days in row of inventory increases. But yet Copper closed at a record for any Jan 6th date in histroy.

Seems Bubblelicious.

as long as china is buying and storing or building ghost cities it may last a while longer.

 

[psytrade]

Copernicus- I agree. There is no other "China Logic" to explain their irrational behavior other than their propensity to be poor gamblers, unless of course this is just an attempt to rid their economy of dollars and build and buy whatever they can in order to get rid of what they may think is a worthless currency.

This explains these waves of irrational behavior in commodities - re oil, copper etc.

The fact that it takes 6 usd to generate 1 usd of growth probably isn't a good sign to the Chinese. Therefore, buying a condo at home which is 5 times overpriced may not be so crazy after all.

Mind you, anyone trading into these excesses is going to end up in a limit down situation. Caveat Emptier.

 

[Copernicus]

Quote from psytrade:

Copernicus- I agree. There is no other "China Logic" to explain their irrational behavior other than their propensity to be poor gamblers, unless of course this is just an attempt to rid their economy of dollars and build and buy whatever they can in order to get rid of what they may think is a worthless currency.

This explains these waves of irrational behavior in commodities - re oil, copper etc.

The fact that it takes 6 usd to generate 1 usd of growth probably isn't a good sign to the Chinese. Therefore, buying a condo at home which is 5 times overpriced may not be so crazy after all.

Mind you, anyone trading into these excesses is going to end up in a limit down situation. Caveat Emptier.

they will spend 15 usd to generate 1 usd of growth just to keep social unrest from happening. at the moment they can "afford" it but lets see what happens in 10-15 yrs when the transformation to research driven economy isnt going so well and aging population starts becoming a real problem.

 

[Random.Capital]

Quote from Cheese:

A cartel, OPEC, controls 40% of oil output so as a result there can never be a cheap oil price ...

That is obviously incorrect as the Cartel was stronger in past years, and prices were much lower, for long periods of time, in past years.