More oil, higher prices.
Seriously - we need, for 1 week, the Gestapo - arrest everyone who trades in oil contracts / futures / commodities, and then bring in the oil company executives. Everyone, arrest them all - no civil rights - arrest them all. Increase in oil, price up. Demand increases, price up. Supply up, price up. Demand down, price up. Supply up, demand down, price up.
STOP THIS INSANITY!
And what about the following (same article):
Limiting oil's gains Monday was the dollar, which rose against the euro.
When the dollar gains ground, investors who bought commodities such as oil as a
hedge against inflation tend to sell. Also, a stronger greenback makes oil more
expensive to overseas investors. Many analysts believe the dollar's protracted
decline has been one of the main reasons oil has nearly doubled in value over
the past year.
I am ready to call for an invasion of Canada to get more oil, this is ridiculous. The article makes it appear that the fact the US dollar is low gets investors to buy oil, but when the dollar rises against the Euro, it makes oil more expensive. Holy Jesus. Which is it?
Prices go up when the dollar drops.
Prices go up when demand increases.
Prices go up when demand drops.
Prices go up when the dollar value rises.
Prices go up when Saudi Arabia boosts exports.
Prices go up when Nigeria has a disruption.
Prices go up when there is a hurricane.
Prices go up ..
This is insane. Stop with the money or I will support a taxation of 80% on all money made on commodities/futures above $1000, just before I would support banning investing in futures/commodities.
I can very easily become the strongest advocate for taxing anyone who makes money on oil - every mutual fund, every bond, everything and everyone. 90% taxation on all oil profits not reinvested in oil exploration, construction of refineries, and alternatives sources of energy. Everything else - 90% tax on it.
Serious? Well, oil prices SHOULD NOT be this high. Nothing supports the value of oil as high as it is nor the cost of gas over $2.00 a gallon. NOTHING.
And Iran is next - just wait for that boost. $200 a barrel.
Listen you greedy selfish bastards who are getting what you can immediately because you know the laws will smack you sooner or later - ANY conflict will be sorted out. Less than a year and in the meantime, demand will not, NOT grow that much. China is already cutting back on allowing driving. It is about to reduce its subsidy on gas (is currently at about $2.88 a gallon) which will reduce consumption. DEMAND WILL NOT rise that dramatically and any issue in Nigeria will be sorted out as will Iran and they won't stop selling their oil as that is all they have. They would dry up and blow away in the wind. They need their oil money.
I am ready to start holding up gas trucks and building a huge cistern for gas. mass hangings. A Gas Revolution along the lines of the French Revolution.
Viva la France - liberte, egalite, fraternite! To hell with oil companies and Opec.
****************************
Washington Post
Oil rises on modest Saudi increase, Nigeria
By JOHN WILEN
The Associated Press
Monday, June 23, 2008; 11:40 AM
NEW YORK -- Oil prices rose Monday on disappointment over Saudi Arabia's modest production increase and concerns that output from Nigeria will decline. Retail gas prices, meanwhile, inched lower overnight, but appear unlikely to change much as long as oil prices remain stuck in their recent trading range.
STOP
THIS
INSANITY
Posts
