Will Oil Make A New High This Time?

[Up0n0ne]

That's only a portion of it. As the oil goes up, so will other commodities (as they already have/are). With people resituating themselves to deal with it, there will be less spending across the board. If you think employment is a problem now, just wait. Then watch the dollar index. It's a snowball effect. devalue the currency while destroying prices. You'll have most of the people helpless and dependent upon the government, which will hurt the people who have made plans... it's the whole divide and conquer deal.

They pulled us off the gold standard to use leveraging to get ahead and now the fiat system is irreparable, so go out with a bang and still make out better than everyone else during this since you have control of these social programs and military.

I'm not talking about our government. The government is just a tool for them. I'm thinking with this global economic crisis, we're going to see mass devaluation of all currencies until someone like the G20/IMF will bring about a new global currency. With a global currency, you'll need a global monetary policy. In order to do that, you'll need a global governing body.

Check fucking mate.

I'll take the critique as I always have. I just find it funny that it keeps getting closer and no one is really looking at it.

+1 Sad, but true! Screw a one nation earth (O.N.E.), times a ticking and seems to be getting faster & faster, it's gonna happen and looks to be sooner than later.

[clevelandkid]

Copper was $3.50+ ( a pound) a week or so ago around here.

On a positive note, it will probably lead to some fresh barbecued copper thief pics.

[SMEGMA STENCH]

On a positive note, it will probably lead to some fresh barbecued copper thief pics.

Got any of the old ones? Please say you do...

[Captain Crawfish]

Approaching $106 Obama is talking about using the strategic oil reserves! All is quiet in Saudi Arabia hopefully protests dont spill over into that country.

[Denny]

Approaching $106 Obama is talking about using the strategic oil reserves! All is quiet in Saudi Arabia hopefully protests dont spill over into that country.

My money is on March 11 for Saudi.

[black50]

I wonder what would happen in if we told these countries that why they are fighting we will not purchase their oil.

Everytime they fight we speculate here in the US, the sand crackers get more money and we suffer. Hell I would fight all the time if I were them.


How much reserves do we have and how long would it last?

the december 2010 reserve number was 762million barrels in storage, total capacity is close to 1 billion barrels

if ALL oil was cut off, then that would last us 2-3 months at the current consumption rate

[Denny]

At what price, though?

[slow99]

My money is on March 11 for Saudi.

So, that will be the day to watch. What's potentially happening that day?

[Denny]

So, that will be the day to watch. What's potentially happening that day?

The local radio said that Saudi's next holy day (this Friday) is being coordinated at several loactions for a massive demonstration for the royal family to make changes to their government. Everyone in office is appointed through the royal family, not elected. This has been in the works for about 3 weeks.

I am on the border of Kurdistan in Iraq. My employees (Kurds) are being told not to come into work today. Apparently, the Kurds are going to start their front for their own state now.

[GhostTX]

Approaching $106 Obama is talking about using the strategic oil reserves! All is quiet in Saudi Arabia hopefully protests dont spill over into that country.

I don't want the reserves tapped! I want to drill our own oil! Offshore! ANWAR! All the shale oil!

Then make damn sure we only sell it internally to US, and not put on the global market.

[stevo]

I don't want the reserves tapped! I want to drill our own oil! Offshore! ANWAR! All the shale oil!

Then make damn sure we only sell it internally to US, and not put on the global market.

I just mentioned this to someone the other day. Keep it here.

Stevo

[Broncojohnny]

Here is all you need to know:

"Managed money accounts on the NYMEX own a record 268,622 contracts (i.e. 269 MMbbls) of WTI crude oil. The storage capacity at the NYMEX hub in Cushing, OK is only around 45 MMbbls. In other words, speculators own nearly 6× the capacity currently available at Cushing. It does not get any clearer which way Wall Street is trying to take oil."

[Denny]

Here is all you need to know:

"Managed money accounts on the NYMEX own a record 268,622 contracts (i.e. 269 MMbbls) of WTI crude oil. The storage capacity at the NYMEX hub in Cushing, OK is only around 45 MMbbls. In other words, speculators own nearly 6× the capacity currently available at Cushing. It does not get any clearer which way Wall Street is trying to take oil."

LMFAO!!! Ain't that the truth!

[Sean88gt]

Fuckers.

[Denny]

Fuel meet fire. Durrr Durrr

http://finance.yahoo.com/news/Federal-Reserves-Lockhart-Oil-cnnm-3164680201.html?x=0&sec=topStories&pos=3&asset=&ccode=