Why doesn't the government want you to know this about Oil ?

[S2007S]

Its time for the commoditiy bulls to come out and admit that oil and every other commodity is in a big, big, big bubble....oil is headed back below $100...

 

[Mercor]

Quote from S2007S:

The current inventory is displayed on the SPR's website. As of April 15, 2008, the current inventory was 701.1 million barrels (111,470,000 m³). At current market prices ($115 a barrel) the SPR holds over $80 billion worth of petroleum.

The Fed is using the oil supply for collateral against the sub-prime loans it's buying

 

[EMRGLOBAL]

This is not news.

In fact Canada and Mexico have been the biggest exports of oil. Canada, the largest.

Domestic drilling projects are up 10000. Drilling in La Fouce Parish in LA, alone has trippled.

Domestic Drilling is the future. Not so much Shale, as that is costly to perm the pourse shale. And the amount of oil pulled from shale is not worth the risk or cost.

Exploritory drilling is the way to go.

However, we are far from drilling enough to drive prices down, hell there isn't enough oil supply for demand right now....that is why the saudis want to keep "their" levels at the current rate. $$$$$$$$$$$$$$$$.

 

[EMRGLOBAL]

Its time for the commoditiy bulls to come out and admit that oil and every other commodity is in a big, big, big bubble....oil is headed back below $100

___________

Dumb'st post I have read in a while.

 

[Joab]

Quote from Mercor:

The Fed is using the oil supply for collateral against the sub-prime loans it's buying

Interesting ideal .. I never thought of that but how could that be done?

 

[WaveStrider]

Quote from limitdown:

the biggest question is/are:

why aren't we hearing anything from the White House over these prices?

When Bush asked the Saudis to help lower the price of oil and they said "No", The President of the United States told them he was 'disappointed'.

What MORE do you want the friggin' guy to do??!!!

 

[Pekelo]

The Saudis probably said we CAN NOT help you. They pretty much peaked. Bush acknowledged this later when he said:

"You can not ask someone to increase production when there isn't much extra left."

(I am paraphrasing)

 

[afuturetrader]

Quote from Pekelo:

The Saudis probably said we CAN NOT help you. They pretty much peaked. Bush acknowledged this later when he said:

"You can not ask someone to increase production when there isn't much extra left."

(I am paraphrasing)

haha and pretty true, just most are not willing to accept it

 

[mokwit]

By allowing the TAF for brokers and thus prime brokers the Fed is supporting oil prices - remember how it sold off just before the TAF with MF demanding 90% margin from clients - why would it do that? because there was a credit crunch and thus a hedge fund margin funding crunch that the Fed alleviated. Not saying this is the only factor, but it is one of them - i.e. a natural correction due to reining in of overleveraging was averted by the Fed actions to allow the leveraging to continue.

 

[Mercor]

Quote from S2007S:

Its time for the commoditiy bulls to come out and admit that oil and every other commodity is in a big, big, big bubble....oil is headed back below $100...

I see strong prices untill July then the Saudi's HAVE to start killing the market.

They must dump the market severly through the November election.

By dropping the oil market the media and the market will cheer forcing public opinion positive.

It would be dire if Obama won, it would mean the beginning of the end for the Saudi kings.

Buy Dec 70 or 80 puts....you will see profits