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Old 05-23-2009, 02:16 PM   #21
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speculators are getting back into oil. thats why its going back up. has nothing to do with oil restrictions. supply isnt a problem since oil companies have literally been hoarding oil for months.
That's a nice little bed time story to tell the children but the fact is every hurricane season when a major storm enters The Gulf and we all shut everything down to run for the hills, why do you think the price of oil goes up and the price at the pump goes up? Maybe they are speculating we will be shut down for a long time...... Kinda like what's happening now.

Last week a fire at a Chorpus Christi refinery and a resurgence in the fighting in Nigeria sent the price of oil up almost $1.50 in day by itself. And where exactly do you think oil companies are hoarding all this oil (LMFAO!!!)?
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Old 05-23-2009, 02:23 PM   #22
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That's a nice little bed time story to tell the children but the fact is every hurricane season when a major storm enters The Gulf and we all shut everything down to run for the hills, why do you think the price of oil goes up and the price at the pump goes up? Maybe they are speculating we will be shut down for a long time...... Kinda like what's happening now.

Last week a fire at a Chorpus Christi refinery and a resurgence in the fighting in Nigeria sent the price of oil up almost $1.50 in day by itself. And where exactly do you think oil companies are hoarding all this oil (LMFAO!!!)?
Contango is a term used in the futures market to describe an upward sloping forward curve (as in the normal yield curve). Such a forward curve is said to be "in contango" (or sometimes "contangoed").

Formally, it is the situation where, and the amount by which, the price of a commodity for future delivery is higher than the spot price, or a far future delivery price higher than a nearer future delivery.
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Old 05-23-2009, 02:25 PM   #23
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a year ago there was more demand, also, we are getting more oil from canadian oil sands now
39% of our oil comes from Canada and that's offshore and the sands.

But you are still missing the main point. We are becoming and before long will be totally dependent on foreign oil. Do you have any idea what so ever how many millions of American jobs are on the line with that one move?
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Old 05-23-2009, 02:27 PM   #24
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lol.. thread still goin on? This is basic econ...
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Old 05-23-2009, 02:32 PM   #25
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Contango is a term used in the futures market to describe an upward sloping forward curve (as in the normal yield curve). Such a forward curve is said to be "in contango" (or sometimes "contangoed").

Formally, it is the situation where, and the amount by which, the price of a commodity for future delivery is higher than the spot price, or a far future delivery price higher than a nearer future delivery.
Thanks for the Business 101 lesson but I already own a business so I'm very aware of this. Once again..........This Democratic administration is forcing American companies to leave this nation with their rigs, their equipment, and their jobs. Before long OPEC will have complete control over our economy. They can set the price or they can shut off the taps but worst of all, they can force us to pay whatever price they see fit.
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Old 05-23-2009, 02:37 PM   #26
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Thanks for the Business 101 lesson but I already own a business so I'm very aware of this. Once again..........This Democratic administration is forcing American companies to leave this nation with their rigs, their equipment, and their jobs. Before long OPEC will have complete control over our economy. They can set the price or they can shut off the taps but worst of all, they can force us to pay whatever price they see fit.
dude you act like thats not happening already
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Old 05-23-2009, 02:38 PM   #27
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lol.. thread still goin on? This is basic econ...
Basic Economy practices went out the window when we starting spending TRILLIONS of dollars we don't have. If you think there is anything "Basic" about what is happening in today's economy you seriously need to pay a little more attention.
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Old 05-23-2009, 02:42 PM   #28
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Basic Economy practices went out the window when we starting spending TRILLIONS of dollars we don't have. If you think there is anything "Basic" about what is happening in today's economy you seriously need to pay a little more attention.
lmao.. THAT IS basic info mr. smarty. If you run trillion dollar deficits you're running the economy into the ground. Maybe you missed that lecture...
Maybe you should look into that than trying to sound smart.

All the fundamentals are being thrown out the window.. and we're making up stuff as we go along, which history has proven does not work. Nor does Keynesian economics.
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Old 05-23-2009, 02:43 PM   #29
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dude you act like thats not happening already
Hello McFly!!!!!!!!!

If you think this is the case why then do you not see how incredibly frucked this nation will be if we have to rely on everyone else for our number 1 energy & manufacturing source?
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Old 05-23-2009, 02:46 PM   #30
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Old 05-23-2009, 02:50 PM   #31
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This thread deserves a big "Obama"
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Old 05-23-2009, 05:08 PM   #32
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This thread deserves a big "Obama"

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Old 05-23-2009, 05:13 PM   #33
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Old 05-23-2009, 05:17 PM   #34
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Old 05-23-2009, 05:35 PM   #35
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Thanks for the Business 101 lesson but I already own a business so I'm very aware of this. Once again..........This Democratic administration is forcing American companies to leave this nation with their rigs, their equipment, and their jobs. Before long OPEC will have complete control over our economy. They can set the price or they can shut off the taps but worst of all, they can force us to pay whatever price they see fit.
so if McCain were in the white house and had made the same decision i bet you'd fully support it
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Old 05-23-2009, 05:42 PM   #36
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Sorry, but this is a very biased view from someone who's whole livelihood depends on drilling for more oil. I feel bad that your company is affected and you may lose income, but it's not possible to get an objective opinion from the owner of a oil drilling company.

I agree with many of your points, just not the doomsday extent it's exaggerated to be.
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Old 05-23-2009, 05:43 PM   #37
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Please... Americans were shitting bricks over the Swine Flu which turned out to be no more deadly than the common flu. The world is supposed to end in 2012 too... so who cares?

Hopefully aluminum foil doesn't sky rocket in price... the aliens might start probing your thoughts

Maybe it's time the OP made the switch to Natural Gas... Louisiana has plenty.
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Old 05-23-2009, 05:50 PM   #38
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sorry, but this is a very biased view from someone who's whole livelihood depends on drilling for more oil. I feel bad that your company is affected and you may lose income, but it's not possible to get an objective opinion from the owner of a oil drilling company.

I agree with many of your points, just not the doomsday extent it's exaggerated to be.
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Old 05-23-2009, 05:56 PM   #39
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so if McCain were in the white house and had made the same decision i bet you'd fully support it
Hardly! McCain wouldn't be that stupid.

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Originally Posted by Amoeba View Post
Sorry, but this is a very biased view from someone who's whole livelihood depends on drilling for more oil. I feel bad that your company is affected and you may lose income, but it's not possible to get an objective opinion from the owner of a oil drilling company.

I agree with many of your points, just not the doomsday extent it's exaggerated to be.
This doesn't just affect me, you have to realize how dependent this nation is on oil and gas. It goes way beyond just driving your car.

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Please... Americans were shitting bricks over the Swine Flu which turned out to be no more deadly than the common flu. The world is supposed to end in 2012 too... so who cares?

Hopefully aluminum foil doesn't sky rocket in price... the aliens might start probing your thoughts

Maybe it's time the OP made the switch to Natural Gas... Louisiana has plenty.
Mmmm, yes denial is our friend. The stock market will also never go below 10,000 again, banks cannot fail - they are way too powerful, the American car companies are the strongest car companies in the world and the American Government would NEVER spend trillions of dollars we don't have. Denial has really gotten us far in this nation because the Government would never do anything to adversely affect the people of this nation....
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Old 05-23-2009, 05:57 PM   #40
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Ignorance, we live in Canada.. Gas stations up here are not price makers, they are price takers. Everyone here is saying oh this is BS when oil was $147 we were paying $1.52/regular. And now oil is $61 and were still paying $1.04/liter. Ever thought of the Canadian dollar and the fact that gas/oil prices are set in USD. Also if you read current news, you would know of the recent increases in gas taxes in BC. Do your homework before you place blame, don't buy gas if you can't handle the price.

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article has way to much rhetoric... look at current oil prices, and price of fuel at the pump. Here I'm paying $1.20 a liter for 92 and it should be around $0.80 a liter. I will always maintain "fuk oil companies". Biggest crooks next to the government.
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