A glimmer of hope

[Tail_Gunner]

Finally enough pressure is being put on oil across the world to shed some light on just how badly the oil market's are being corrupted.... and there will be much more info coming down the pipe sort to say in the nex 30 day's


Iranian supertankers now in the Persian Gulf could store the equivalent of five months worth of the additional crude oil Saudi Arabia pledged to pump to curb record prices, according to ship-tracking data compiled by Bloomberg.
Iran's has 13 to 15 supertankers idling in the Gulf with capacity to hold as much as 30 million barrels, the ship- tracking data shows. Iran has not said how much oil is in the tankers. Hojatollah Ghanimifard, executive director of international affairs at National Iranian Oil Co., said on June 2 that some vessels were storing crude while refineries carried out annual repairs

Peak oil....Hurricane's increased global demand...My A@#

 

[Kiwi Phil]

Re: A glimmer of hope

I believe the issue lies in our back yard, not those nations producing oil.
They are not the price set-ters.
It is the members of our all important financial institution, Wall St, followed closely by the equivalent in Singapore.
So long as someone can buy oil, for a minimal deposit, and not even have to pay that deposit for days, then I believe our own institutions are porking us.
My personal opinion is: make the trader pay 100% of the purchase price at the time of purchase....that will cut about 100% of them out.
I am sick of all the excuses (eg Hurricans, or what some Israli official said, or whatever other B/S they tell us).
It is all B/S so some can buy today at $150 a barrel and sell tomorrow at $151 and pay their deposit the day after, which is immediately recovered.
I would love to get on to a racket like that!!

I wonder if the oil producing countries are not scratching their nuts wondering WTF is going on.....our income just trippled and we didn't do a thing.

Then again, maybe I am wrong.

Cheers
Phillip

 

[WizeOne]

Re: A glimmer of hope

...I believe the issue lies in our back yard,....

Oh, how prescient Phillip. Truer words were never fortold.

I would love to get on to a racket like that!!

Step right up KP, you too could shoulder the risk.

I wonder if the oil producing countries are not scratching their nuts wondering WTF is going on.....our income just trippled and we didn't do a thing.

Then again, maybe I am wrong.

Cheers
Phillip

Absolutely they are Phillip, you are spot on, but with one caveat. While 'scratching their nuts', they are chuckling all the way to the bank.

They are chuckling about the castrated giant who can't figure out where to stick its impotent member.

They get a twofer. The more we refuse to develop our own massive oil reserves (as worldwide demand grows) the tighter the supply grows. The tighter the supply, the easier it is to bet that demand might well exceed supply (throw in a little sabre rattling here from despot oil producers)

The higher the price goes, the more $$$$'s we have to send offshore. The more $$$$'s we send offshore the weaker the $ gets. The weaker the $ gets, the less influence we (the western world) have. Seems to me that scenario satisfies a whole lot of people in certain quarters.

 

[SpinnerBait_Nut]

Re: A glimmer of hope

Easy fellows.

 

[Kiwi Phil]

Re: A glimmer of hope

Sorry Spinner.
I had to look the word "prescient" 'up', and for anyone else at the same intelectual level as me, it means 'foreknowledge', 'faculty of forethought', 'paranormal faculty' etc.
No wonder that bloke calls himself the "WiseOne".
I take it all in good humor, and won't stir the pot......
I appreciate your responce WiseOne.....very much.

Just my opinion, some may not agree with me, but the sooner oil goes to $500 a barrel the better.
Then, just maybe, the Western democracys may lynch their hopless leaders and reps, tell the green lobby (always the weak ones who without a democracy would perish un-noticed like they use to in previous centuaries)
to stick it where the sun don't shine.
Then take some positive steps to lead the way in the development of work-able long term solutions to better the citizens in their countries.

I live in a country that could be self sefficient in all energy. We sit on the largest reserves of material for nuclear energy, we have enough natural gas to power our vehicles for ever......yet we still keep burning coal for electricity and paying stupid prices for oil, while the weak blabber on about green solutions (low energy light bulbs-wind and solar power, and so it goes on).

Western leadership is paralised.
The tail is wagging the dog!!

Cheers
Phillip

 

[Vlad D Impeller]

Re: A glimmer of hope

"Just my opinion, some may not agree with me, but the sooner oil goes to $500 a barrel the better.
Then, just maybe, the Western democracys may lynch their hopless leaders and reps, tell the green lobby (always the weak ones who without a democracy would perish un-noticed like they use to in previous centuaries)
to stick it where the sun don't shine.
Then take some positive steps to lead the way in the development of work-able long term solutions to better the citizens in their countries."

I said something similar a while back when oil was around $80.00 a barrel, the responses i got was far less than enthusiastic, however i remain in agreement with your premis.

 

[cheburashka]

Re: A glimmer of hope

". . . tell the green lobby (always the weak ones who without a democracy would perish un-noticed like they use to in previous centuaries)
to stick it where the sun don't shine.

And HEEEERE we GO! Straight to the padlock boys.

What a ridiculous thing to say. Count among your "greens" Jeb Bush and George Bush Senior, both of whom opposed off-shore drilling. "Green" keeps a lot of economies going. Turn it black, and you'll find out soon enough who's weak and who isn't. A lot of the US economy is based on keeping green things green. Why risk a spill off of Florida when there are already untapped reserves that could take the place of the offshore wells?

All this drive toward opening up offshore drilling is completely unreasonable. We won't see the increased supply for at least a decade, and the oil companies are already sitting on reserves on federal land that they choose not to drill for. It's another options game--trying to get legislation put in place which grants them to that oil for some time in the future when it's worthwhile to start drilling for it. Meanwhile, I'm pretty sure that if you give them access, they'll just sit on those reserves as well.

How can you make them drill if they choose not to?

 

[Vlad D Impeller]

Re: A glimmer of hope

I remain in total agreement with what Kiwi Phil said, cherry picking at snippets of the complete statement is tantamount of hearing only what you want to hear, and seeing only what you want to see.
Personally oil prices up or down affects me not, it is simply a sad day when manipulators are freely encouraged to spin their web to strangle the common folk.

 

[WizeOne]

Re: A glimmer of hope

Oooh! As the WizeOne stands idly by, chafing at having to live up to his Nom de Plume!

 

[WizeOne]

Re: A glimmer of hope

Hmmmm? US oil production in a continuous decline since the 1980's. In 198? Congress outlaws drilling off the continental shelf.

No new or substantially upgraded oil refineries in over 30 years due to environmental hoops that cannot be jumped thru. The US now has to import refined gasoline?

Numerous foreign countries are now exploring for oil, in those same areas, adjacent to American shores?

Am I seeing a string of dots developing here?

 

[JB]

Re: A glimmer of hope

Just can't avoid the politics of it, huh, guys?

End of this political debate.