Oil Goes Sub $44!rig,chk Getting Slaughtered

trendo · Dec 4, 2008

Quote from nazzdack:

Don't be surprised if politicians start bemoaning the shrinkage of fuel tax revenue soon.

You might be right, but don't forget that gasoline is taxed by the gallon, not by the price.

sumosam · Dec 4, 2008

Quote from bali_survivor:

It will have a positive impact on those places where they have stopped growing food and started to plant crops for oil (e.g. in Indonesia). Rice came in short supply and hence prices for rice, wheat etc started to climb, not even to talk about the impact on the lives of many in the poor countries.

Their lives might improve if the oil crops disappear and food prices drop back.

Unfortunately some of the alternative energy developments for powering transport will no longer be viable and suddenly we will see an even greater dependency on oil again as that is being stopped / postponed. very few will have the foresight to carry on with it and make a killing when inevitably oil comes in short supply.

Maria

in europe, many are driving battery fuelled cars. this is the future...it has to do with the environment.

stock_trad3r · Dec 4, 2008

what ever happened to boon butt pickens plan? lol he lost a fortune.

riskfreetrading · Dec 4, 2008

Quote from dsq:

Wow how lo can oil go?
CHK making new lows at 11 50 and rig getting smashed.

when dsq posts on a topic, watch for the top or the bottom depending on the recent move.

Contrarian indicator dsq (the best I have seen second only to RFT's analysis): Oil is at a bottom.

:eek:

FanOfFridays · Dec 4, 2008

Quote from dsq:
Canadian dollar might have problems as well as their equities market.

Check a chart of the USD/CAD. Our Petrodollar is already getting hammered. Exporters don't mind it, of course. It may be a blessing in some ways, but not for those of us who travel a lot.

A bit of political intrigue up here in the past few days doesn't help the dollar either.

Sniemiec · Dec 4, 2008

Quote from dsq:

this poses a big problem for canada and their tarsands...it costs anywhere from 40-60$ per bbl to produce it.
Canadian dollar might have problems as well as their equities market.

The companies that have been there for a long time have costs per bbl much lower then $40-60. Still, I bet they're hurting.

mister_doodi · Dec 4, 2008

Quote from Sniemiec:

The companies that have been there for a long time have costs per bbl much lower then $40-60. Still, I bet they're hurting.

Hey Sheldon, long time no talk.

dsq · Dec 4, 2008

Quote from riskfreetrading:

when dsq posts on a topic, watch for the top or the bottom depending on the recent move.

Contrarian indicator dsq (the best I have seen second only to RFT's analysis): Oil is at a bottom.

:eek:

Still cant post a screenshot of a real trade huh?Chickenshit,paper trader.Never has traded.Say hello to your boyfirend stockturd3.

riskfreetrading · Dec 5, 2008

DSq: I will let you some slack for some time. Learn to behave with RFT. I will keep an eye on you-- a mistep and you will not know when I will knife you.

In the meanwhile check this trade at this thread. Money is waiting for you (if you move fast):

http://www.elitetrader.com/vb/showthread.php?s=&threadid=147036

blackjack007 · Dec 5, 2008

Quote from Sniemiec:

The companies that have been there for a long time have costs per bbl much lower then $40-60. Still, I bet they're hurting.

that's because it doesn't cost $40-60 to produce crude from shale or tar sands as he claims. it's around $25-30.

they're not hurting. they're just not as profitable as back in july.