[quote]LIFTICVSMAXIMVS wrote:
rainjack wrote:
Look no further than Barney Frank and Chris Dodd.
Yes RJ, I am sure these are the only two souls in government that benefit from fiat…[/quote]
I think they both made over $75 million each from the subprime thing.
Biden’s son raked in some pretty good cash on the sweatheart deal as well.
I named names. If you are saying I am wrong, name some of your own.
[quote]rainjack wrote:
LIFTICVSMAXIMVS wrote:
rainjack wrote:
Look no further than Barney Frank and Chris Dodd.
I named names. If you are saying I am wrong, name some of your own. [/quote]
I am not saying anything other that the fact that you wrote, “Look no further than,” implying our search could end there; however, no one is questioning Sec. Paulson and his ties to Goldman-Sachs.
I know you get a stiffy every time you get to point out the failings of someone in the democratic party but I was actually implying there were people in Bush’s admin that are benefiting too. Let us also not forget those in the position to create money in the first place.
[quote]LIFTICVSMAXIMVS wrote:
I know you get a stiffy every time you get to point out the failings of someone in the democratic party but I was actually implying there were people in Bush’s admin that are benefiting too. Let us also not forget those in the position to create money in the first place.
[/quote]
Name names. How hard is that to do if you are so fucking sure?
My point was that the guilty parties, or at least the two with the fullest pockets are alive and well in DC, and are even trying to draft a plan to save the markets they willing helped destroy.
http://news.yahoo.com/s/ap/20080923/ap_on_go_co/offshore_drilling
Sit back and watch the free fall in oil prices.
This will probably strengthen the dollar, and piss off a bunch of Euro-trash.
[quote]rainjack wrote:
http://news.yahoo.com/s/ap/20080923/ap_on_go_co/offshore_drilling
Sit back and watch the free fall in oil prices.
This will probably strengthen the dollar, and piss off a bunch of Euro-trash.
[/quote]
So essetially no one in their right mind in going to put any time or money into exploring these areas unless McCain is elected. I sure as hell would want some assurances before I spent dime number one.
[quote]belligerent wrote:
The recent drop in oil prices is a modest dip on a graph showing a long upward slope. To quote Peter Schiff, getting excited about this is like celebrating that your kid brought home an F instead of an F- on his report card.[/quote]
Good line.
If government had actually hedged against oil prices the tax payer would not have had to feel so much pain due to the recent price surge in the first place.
If the new frontier licensing round does come to fruition on the scale indicated you would hope the government has the sense to get in there as part of a join venture or even create a national oil company (wow can’t believe I typed that) and take up a share of some of it’s own resource wealth.
[quote]dhickey wrote:
rainjack wrote:
http://news.yahoo.com/s/ap/20080923/ap_on_go_co/offshore_drilling
Sit back and watch the free fall in oil prices.
This will probably strengthen the dollar, and piss off a bunch of Euro-trash.
So essetially no one in their right mind in going to put any time or money into exploring these areas unless McCain is elected. I sure as hell would want some assurances before I spent dime number one.[/quote]
Conventionally the owner of the acreage has the seismic’s performed and the oil companies are then invited to bid for the licenses based on the seismic data. So any offshore acreage offered by the government for exploratory drilling will by rights already have been approved for development if the license has been purchased from the government.
The difference I would guess between a Democrat and Republican election victory would be the scale of the exploration and development.
Not that the thread is on topic by page 5 but all estimates I’ve heard from commodity traders in the industry value oil at around $100 per barrel for the long term with slight seasonal or catastrophic market changes.
The new Gulf Coast drilling will mainly be deep water, more difficult and expensive than standard offshore procedures. Prices won’t drop much from this point but the market will be better regulated with more consistent production.
Now is a good time to invest in American oil companies however. Stocks are at a premium, but they will only go up from here as billions of dollars were just made accessable.
Deepwater companies and engineering firms short term (10-15 years) big guys like Shell, BP etc long term. They will develop the alternative power sources and have the resources to ad them to the grid. Now is the time to get in on it.
[quote]lixy wrote:
On top of eating my underwear, I’ll quit posting on this forum for a year it ever reaches $80 or below.
You know what to do to help it happen.[/quote]
It’s at $95 Lixy…15 bucks to go and you’re out right?
[quote]Rockscar wrote:
lixy wrote:
On top of eating my underwear, I’ll quit posting on this forum for a year it ever reaches $80 or below.
You know what to do to help it happen.
It’s at $95 Lixy…15 bucks to go and you’re out right?[/quote]
I haven’t read the entire thread. If in the course of wild speculatory fluctuations, it dips below $80 – should that count? I think oil might dip below $80, but not for any significant period of time.
[quote]Gael wrote:
Rockscar wrote:
lixy wrote:
On top of eating my underwear, I’ll quit posting on this forum for a year it ever reaches $80 or below.
You know what to do to help it happen.
It’s at $95 Lixy…15 bucks to go and you’re out right?
I haven’t read the entire thread. If in the course of wild speculatory fluctuations, it dips below $80 – should that count? I think oil might dip below $80, but not for any significant period of time.[/quote]
Are we talking Light Sweet Crude, or Brent Crude?
Brent is at $89 and change as I type this.
But which ever one is used - the second it hits $85 lixy should be a woman of her word and GTFO.
Lixy-Loo…where are you???
[quote]Gael wrote:
Rockscar wrote:
lixy wrote:
On top of eating my underwear, I’ll quit posting on this forum for a year it ever reaches $80 or below.
You know what to do to help it happen.
It’s at $95 Lixy…15 bucks to go and you’re out right?
I haven’t read the entire thread. If in the course of wild speculatory fluctuations, it dips below $80 – should that count? I think oil might dip below $80, but not for any significant period of time.[/quote]
It’s specifically defined…when it HITS 80…IMMEDIATELY at that point…even if it closes the day at 81.
Oil below 90:
I’m getting excited, lixy.
[quote]rainjack wrote:
Gael wrote:
Rockscar wrote:
lixy wrote:
On top of eating my underwear, I’ll quit posting on this forum for a year it ever reaches $80 or below.
You know what to do to help it happen.
It’s at $95 Lixy…15 bucks to go and you’re out right?
I haven’t read the entire thread. If in the course of wild speculatory fluctuations, it dips below $80 – should that count? I think oil might dip below $80, but not for any significant period of time.
Are we talking Light Sweet Crude, or Brent Crude?
Brent is at $89 and change as I type this.
But which ever one is used - the second it hits $85 lixy should be a woman of her word and GTFO. [/quote]
I predict Lixy will not honor his and continue posting after oil hits $80.
I also think it hits $80 by mid Nov.
[quote]hedo wrote:
rainjack wrote:
Gael wrote:
Rockscar wrote:
lixy wrote:
On top of eating my underwear, I’ll quit posting on this forum for a year it ever reaches $80 or below.
You know what to do to help it happen.
It’s at $95 Lixy…15 bucks to go and you’re out right?
I haven’t read the entire thread. If in the course of wild speculatory fluctuations, it dips below $80 – should that count? I think oil might dip below $80, but not for any significant period of time.
Are we talking Light Sweet Crude, or Brent Crude?
Brent is at $89 and change as I type this.
But which ever one is used - the second it hits $85 lixy should be a woman of her word and GTFO.
I predict Lixy will not honor his and continue posting after oil hits $80.
I also think it hits $80 by mid Nov.[/quote]
The Saudis want it around $70, but rumor has it they’ll defend the price when it hits $80.
[quote]PRCalDude wrote:
hedo wrote:
rainjack wrote:
Gael wrote:
Rockscar wrote:
lixy wrote:
On top of eating my underwear, I’ll quit posting on this forum for a year it ever reaches $80 or below.
You know what to do to help it happen.
It’s at $95 Lixy…15 bucks to go and you’re out right?
I haven’t read the entire thread. If in the course of wild speculatory fluctuations, it dips below $80 – should that count? I think oil might dip below $80, but not for any significant period of time.
Are we talking Light Sweet Crude, or Brent Crude?
Brent is at $89 and change as I type this.
But which ever one is used - the second it hits $85 lixy should be a woman of her word and GTFO.
I predict Lixy will not honor his and continue posting after oil hits $80.
I also think it hits $80 by mid Nov.
The Saudis want it around $70, but rumor has it they’ll defend the price when it hits $80.
[/quote]
Why would they want a low price?
[quote]msd0060 wrote:
PRCalDude wrote:
hedo wrote:
rainjack wrote:
Gael wrote:
Rockscar wrote:
lixy wrote:
On top of eating my underwear, I’ll quit posting on this forum for a year it ever reaches $80 or below.
You know what to do to help it happen.
It’s at $95 Lixy…15 bucks to go and you’re out right?
I haven’t read the entire thread. If in the course of wild speculatory fluctuations, it dips below $80 – should that count? I think oil might dip below $80, but not for any significant period of time.
Are we talking Light Sweet Crude, or Brent Crude?
Brent is at $89 and change as I type this.
But which ever one is used - the second it hits $85 lixy should be a woman of her word and GTFO.
I predict Lixy will not honor his and continue posting after oil hits $80.
I also think it hits $80 by mid Nov.
The Saudis want it around $70, but rumor has it they’ll defend the price when it hits $80.
Why would they want a low price?[/quote]
It slows the pace of alternative energy research.
That is only part of it. They did not want oil to hit as high as it actually hit, because now demand has dropped. And people have finally been influenced to start drilling new oil wells.
The last time they cut oil supplies for political reasons, demand here dropped, just like it has, and it took ~9 years to get back to where it was before.
Also there are small companies that cannot produce oil cheaply. But the most they are spending is $70 a barrel. With high prices, it causes these little companies to pop up and produce oil from wells the big companies have no interest in.
This also means that the bottom resistance starts at $70 a barrel. (Which is actually why I knew oil would eventually go below $80)