Interesting to read some of my earlier comments.
Originally posted by Gools - posted on 10/20/2004
... but it's not the whole deck of cards just yet.
I think that will come after the election and the price of gas is allowed to rise. After all, the oil companies want to keep their people in
the White House, so the price of gas is cheap in relative terms. The oil companies are making enough profit from the higher oil prices to give a cut
to the consumers in lower gas prices. Whether or not Bush wins they'll put the squeeze on. They have to: demand is outpacing supply.
The inflation trigger?
The gun has gone off with gas prices and the first shot is dead on everyone's pocket book. I can't wait for summer driving season can you? I think
I'll be spending time checking out local parks and countryside on my bike.
I noticed that the $80 Oil, Here We Come!!!
article was the first to predict
much higher oil prices and that The Perfect Option
article was the first
to claim $100 dollars per barrel.
Other more mainstream forecasters have issued similar predictions...
The Globe and Mail as reported here: Production theory could make $100 oil a reality
CIBC World Markets as reported here: CIBC sees oil at $100 (U.S.)
The IMF as reported on CNN and available here: IMF: Oil could hit $100, hurt
As well as Goldman Sachs reported on CNN and available here: Goldman sees oil spiking
Originally posted by Gools - posted on 11/8/2004
Four more years of Bush and the markets react.
Watch the debt climb.
The debt ceiling was raised after
the election as anticipated (November 18th): US Debt
to hit $8.2 trillion on Monday
The US trade deficit has been setting record highs in the last few months and the US must now borrow over $2 billion a day
to pay for its
consumption. And the US budget carries with it record spending without including the wars
(WAR: Bush to ask for additional $82 Billion
Oil company profits are based mostly on the price of crude oil not refined products like gasoline. The costs to extract oil have not risen so with the
doubling of the value of oil in the last year those companies who do the drilling and own the actual oil are making a killing selling it to
refineries. I read somewhere that despite record oil industry profits the US government is giving big fat tax breaks to oil companies.
Some think that oil companies are somehow causing
the high oil prices. The price of crude is rising based on simple supply and demand of a
Do the people who run those companies know what is going on with oil? You bet and they're in a position to take advantage with the influence they
wield to manipulate markets to make sure they and theirs are taken care of.
Sudden and profound social changes are messy.