Oil Prices

[PitchBlack]

Quote from libertad:

George Soros......correct ...again...

http://www.commondreams.org/views04/0928-16.htm

.

You don't need to be George Soros to see things as he sees them.
The WHOLE WESTERN WORLD had this vision on Bush. But unfortunately the Americans were the only ones able to stop Bush. And they didn't. That's how the image of the US got severely damaged in the rest of the world.

For decades we have the problem between Israel and the Palestinians.
Bush created a second problem: the US against Bin Laden, Iraq, soon maybe Iran and other muslim states.

The last century America was the dream for many people; it's was the best place to live. Thanks to Bush all this has changed.

 

[md2952]

MOVE

 

[PitchBlack]

Quote from md2952:

MOVE

I don't live in the US, why should i move?

 

[TorontoTrader2]

Why move, every country is at risk of being unilaterally attacked by the USA's WMD or enconomic threats (using the IMF to topple the country and scoop up cheap public assets).

Only one thing stands in the way of corporations making more money, and that is the government. They rule the govt and do not care a fig about us, don't be so naive.

Halliburton and Bechtel now have permanent bases in Iraq. The spoils of war...


Back to the price of oil, yes a pop to $70 is in the cards, imo. I entreed XLE longs again near $48 as a momo trade, wouldn't suprise me if it hit 51-52.

 

[libertad]

Toronto Trader wrote:

Why move, every country is at risk of being unilaterally attacked by the USA's WMD or enconomic threats (using the IMF to topple the country and scoop up cheap public assets).

Only one thing stands in the way of corporations making more money, and that is the government. They rule the govt and do not care a fig about us, don't be so naive.

...............................................................................................
CAFTA = stiff-armed by the IMF

Exactly..as most recently demonstrated by CAFTA....
I have houses in some of these countries...and I can assure you that it is mostly a cheap labor play...and the selling of US subsidized agriculture....This displaces US labor...and increases foreign dependency for food....

This is very simple....you have some companies that are labor intensive whereas the labor unit costs are approximately $30 per hour.....They will now be moving their plants to where the labor is happy to make $5 - $10 per day....

The marginal agriculture is marginal..but yet self sufficient...Self sufficiency evaporates to dependency....and oh yeah ...more poverty...

In these countries....each political party is rewarded with commissions for each project....much like a real estate commission...and is one of the very few good paying jobs in these countries....Thus when one gets nominated to office...it is like winning the Lotto...and this is no joke...This is why the politicians want CAFTA...Anyone from these countries on ET knows this so well...
.............................................................

I bet oil is $55 before $75....some of this recent rise reflects Iran concerns...which are at their high point in the news...

 

[Sarasota]

Gasoline down here just rose to $2.629 a gallon down here this morning.

Ouch!

:eek:

 

[traderlivermore]

BTW, I find the following EIA table interesting.

http://www.eia.doe.gov/emeu/steo/pub/3tab.html

Worldwide oil stock balance is in negative territory now.

From now on price of oil will be very volatile.

Best of luck.

 

[traderlivermore]

Here's the link to the whole report.

http://www.eia.doe.gov/emeu/steo/pub/

 

[murray t turtle]

Quote from traderlivermore:

Here's the link to the whole report.

http://www.eia.doe.gov/emeu/steo/pub/

==================
Not a prediction;
its observations.

Most of the people I like doing business with differ politicaly;
& thanked one of the big oil company boards for fighting,
the false science called global warming.

Trends in the oil/gas sector stocks look nice.

 

[steeldust]

Quote from invaliduser:

We have spent billions on Iraq, where is the sweet deal on oil we were supposed to get?

are the pipelines in iraq still operating? are they pumping oil? i havent read any news stories about pipelines being blown up for a while.

its also funny how every story/opinion i read are about oil going higher. it reminds me lately of how every story about 10yr bonds was about how bonds will only go up.