where to now with crude

Too many supply variables in play to short crude, except maybe for an intraday play. Where would crude go if Nigeria or Iran had a supply dislocation overnight? Anyways, its the lack of refineries thats the bottleneck, not crude supply. Plus Venezuela has gutted their oil indstry for politcial reasons.

Too much risk, IMHO.
 
Quote from chlawfirm:

Does anyone think OPEC can curb. at least in the short term, crude prices this week. I want to short at 55.50.
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The short answer is no, not now and not anytime soon. Good luck!
 
Quote from tomcole:

Too many supply variables in play to short crude, except maybe for an intraday play. Where would crude go if Nigeria or Iran had a supply dislocation overnight? Anyways, its the lack of refineries thats the bottleneck, not crude supply. Plus Venezuela has gutted their oil indstry for politcial reasons.

Too much risk, IMHO.
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Dont forget about hurricane season in the Gulf of Mexico.
 
I guess I don't understand why crude would go up because of refining problems. I can understand why refining problems would lead to increases in diesal and other crude by-products, but can someone explain the rationale on why the state of refineries would have an impact on crude prices?
 
I just watched these morons on fox news going off about "dig, dig, dig more oil".

It's only 300+ acres of Alaska's delicate preserve we need to cut into.
It's only the majestic Rocky Mountains that we need to stomp on.
It's only our precious coasts that we need to contaminate.
It's only the fuckin environment we could care less about.
It really makes me sick!


Why on God's green earth, can't we finally be considering renewable/alternative energies with sincerity? :(

I have a dream.
 
Quote from ktmexc20:

I just watched these morons on fox news going off about "dig, dig, dig more oil". It's only 300 acres of Alaska's delicate preserve we need to cut into. It's only the majestic Rocky Mountains that we need to stomp on. It's only our precious coasts that we need to contaminate. It's only the fuckin environment we could care less about.
It really makes me sick!

Why on God's green earth can't we finally be considering renewable/alternative energies with sincerity? :(

I have a dream.
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Why?!!!

Here's why:

1). Because the overwhelming majority of people are - unfortunately - moronic idiots who couldn't care less.
2). Because the politicians those morons elect couldn't give a shit about the environment. As far as they are concerned they would be long gone when these become the burning issues. (i.e 100 years supply == infinite supply in their terms - but I digress - don't get me started)

Beam me up Scotty... you know the rest...
:mad:
 
Quote from ktmexc20:

I just watched these morons on fox news going off about "dig, dig, dig more oil".

It's only 300+ acres of Alaska's delicate preserve we need to cut into.
It's only the majestic Rocky Mountains that we need to stomp on.
It's only our precious coasts that we need to contaminate.
It's only the fuckin environment we could care less about.
It really makes me sick!


Why on God's green earth, can't we finally be considering renewable/alternative energies with sincerity? :(

I have a dream.
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Excellent points. Could it have anything to do to do with this type of thinking?
Quote from Lefty62151:

I like to drive big vehicles. I have a Toyota Truck, a Hummer and a restored '87 Corvette. Also I have two boats with diesal engines. I feel that it is my divine right to use as much gasoline as I can afford. This year I plan to buy a small private jet. I figure that the jet alone will set me back about $30,000 a month in Jet A fuel. This is the American way. I have to uphold my part in this consumption oriented society. How would it look if my next door neighbor had a bigger boat, or a wife with bigger implants? Not on my watch. I intend to use (and waste) more irreplaceable natural resources than anyone has ever done before. Did I mention that I have a pool (and jacuzzi) that I keep heated all year around?

Ok then, as you were.

Best Regards,
Lefty

Edit:

By the way, I realize that my truck and Hummer are two years old. I think it may be time to do my part to bring that sales slump to an end. I don't have a wife, but I do have a girlfriend (without implants) so I think I can help out there as well. I sure do appreciate this thread. It helps to put life's little problems into a better perspective.
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