USO == double overnight

Quote from tmarket:

Learn to read the facts before talking up a trade.
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So you gave a lecture that the world/market is always rational. Learn the difference between Nymex floor and your college physics classroom floor:D

Prof, some more fun reading you may consider for your powerpoint:
www.jpost.com/servlet/Satellite?cid=1235410719930&pagename=JPost/JPArticle/ShowFull
......Many believe such a weapon will be used to fulfill its prediction that Israel will soon be wiped off the map.
......Any one of these military options, let alone all three, would immediately shut off 40% of all seaborne oil, 18% of global oil, and some 20% of America's daily consumption.
......American oil vulnerability in recent months has escalated precisely because of oil's precipitous drop to $35 to $40 a barrel. At that price, America's number one supplier, Canada, which supplies some 2 million out of 20 million barrels of oil a day, cannot afford to produce. Canadian oil sand petroleum is not viable below $70 a barrel. Much of Canada's supply has already been cancelled or indefinitely postponed. America's strategic petroleum reserve can only keep that country moving for approximately 57 days.
 
Quote from apitrader:

So you gave a lecture that the world/market is always rational. Learn the difference between Nymex floor and your college physics classroom floor:D

Prof, some more fun reading you may consider for your powerpoint:
www.jpost.com/servlet/Satellite?cid=1235410719930&pagename=JPost/JPArticle/ShowFull
......Many believe such a weapon will be used to fulfill its prediction that Israel will soon be wiped off the map.
......Any one of these military options, let alone all three, would immediately shut off 40% of all seaborne oil, 18% of global oil, and some 20% of America's daily consumption.
......American oil vulnerability in recent months has escalated precisely because of oil's precipitous drop to $35 to $40 a barrel. At that price, America's number one supplier, Canada, which supplies some 2 million out of 20 million barrels of oil a day, cannot afford to produce. Canadian oil sand petroleum is not viable below $70 a barrel. Much of Canada's supply has already been cancelled or indefinitely postponed. America's strategic petroleum reserve can only keep that country moving for approximately 57 days.
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Israel will strike first, and let Iran's own nuclear fallout work against itself. If Iran gets froggy, we've got them boxed in until 2012, and taking Tehran will be as easy as taking B-dad, trust me. The road to victory will come by way of the two Turks.
 
An Inconvenient Truth is, everyday, if the bears forget to cover their short positions in their brokerage accounts, they will do so at the pump.

Finally, there IS one not-that-negative post on USO here:cool::
seekingalpha.com/article/123339-trend-reversal-in-oil

www.bloomberg.com/apps/news?pid=20601072&sid=atTSHmAN1WTA&refer=energy
Warren Buffett said crude oil will rise far above its current price and that he made a mistake when he purchased ConocoPhillips stock last year for his Berkshire Hathaway Inc.
¡°I still believe the odds are good that oil sells far higher in the future than the current $40-$50 price,¡± Buffett wrote in his yearly letter to shareholders.
 
Quote from abe12345:

... I said A SIGNIFICANT PART OF THIS DECLINE can be credited to the Obama victory. Thus, I asserted that Obama was a significant factor in the decline of oil.
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In truth, Obama being elected had virtually nothing to do with the decline in crude prices, at least so far. :D

There was a huge excess of oil in storage due to both speculation and overproduction coupled with a decline in demand. It is really that simple. Oil producers will cut production and the supply will be brought slowly back into balance with demand.
 
Quote from apitrader:

Canadian oil sand petroleum is not viable below $70 a barrel. Much of Canada's supply has already been cancelled or indefinitely postponed.
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I believe your $70/barrel number is too high. Do you have evidence to back up your claim?
 
FOXNews.com
Wednesday, March 04, 2009
Iran can develop a nuclear weapon within a year and has access to enough fissile material to produce up to 50 nuclear weapons, a panel of current and former U.S. officials advising the Obama administration said Wednesday.

With 50 nukes, I bet crude oil will definitely go to sub $30 :p
 
Quote from apitrader:

Wednesday, March 04, 2009
Iran can develop a nuclear weapon within a year and has access to enough fissile material to produce up to 50 nuclear weapons, a panel of current and former U.S. officials advising the Obama administration said Wednesday.
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No where in the report does it cite sources for the 50 nuclear weapons. Looks like the neocons are trying to start a war again without being in power, using propaganda instead of facts, reminiscent of the Iraq intelligence report in 2003.

http://www.washingtoninstitute.org/pubPDFs/PTF-Iran.pdf

William Schneider, Jr., chairman of the Defense Science Board and a former under secretary of state in the Reagan administration, offered those estimates Wednesday during a news conference announcing the release of a new "Presidential Task Force" report on Iran by the Washington Institute for Near East Policy.

The report, entitled "Preventing a Cascade of Instability: U.S. Engagement to Check Iranian Nuclear Progress," was signed by a team of policymakers, former officials and Iran scholars that included Sen. Evan Bayh, D-Ind..
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