Like the illusion of Wall Street, with its vast and powerful investment banks, now shuttered, China too is an illusion perpetuated by the Globalists that gave us the 15,000 mile Caesar salad, poisoned cat food and lead based paint on babies' pacifiers. Like the illusion that money would come from thin air to always push housing prices higher, China has spent a generation pursuing its illusion. Pursuing an unattainable dream to be like the West, while 6000 years of its carefully shepherded top soil blows into the sea.
I think it's just what they've been saying: $60 was a psychological barrier. Now that that's breached, we can expect prices to rise faster. Until the next psychological barrier, anyway.
But I'm not surprised. I'm expecting a lot of volatility. And I figured there'd be some profit-taking. This is a typical pattern. It will fall back, then surge ahead again.
Joined: Apr 03, 2004 Posts: 7017 Location: My Grandkids' Farm
Posted: Tue Jun 28, 2005 1:21 pm Post subject:
Does anyone remember if over the last several months if the prices has been trending up during the month or is it more random than that? _________________ Make a plan and work it:
Oil prices went back up again yeaterday, big time. Gasoline futures were up over 5%. What's up? I thought they had all they need for the summer driving season. It seems like the new floor is $55 a barrel. I could be wrong.
Joined: Aug 14, 2004 Posts: 2068 Location: San Diego, Ca.
Posted: Sat Jul 02, 2005 3:14 pm Post subject:
I just read an article that stated this 4th of July might break a travel record.
Quote:
AAA says the Fourth of July weekend beginning today could see more Americans traveling than ever before. The automobile association estimates more than 40 million Americans will be traveling at least 50 miles from home over the long weekend.
The vast majority will be heading out on the highway to visit family and friends or to hit the beaches. And the travel service says higher gasoline prices won't be keeping Americans home. Pump prices are up, on average, roughly 24 cents a gallon over what they were a year ago.
Travel groups say motorists can expect bottlenecks in popular areas as the summer travel season hits high gear. Among the worst places to go traffic-wise is the mid-Atlantic shore, where backups in some spots often reach six hours.
With oil demand set to outstrip supply in fourth quarter 2005, I think the price of oil, gasoline and diesel have to go a lot higher. The prices right now don't appear to be causing significant demand destruction. _________________ "Peak oil isn't more than an interesting industry factoid and doesn't have anything to do with the hysterics speculated on ad nauseum around here!" ReserveGrowthRulz
Why would crude oil rise in expectation of 4th of July? Doesn't take a while for crude to be made into gasoline?
Another thing I have been wondering about is the relationship between the USA and world oil prices. It seems like every little thing affecting the US market, like American weather, American holidays, American petroleum stocks, instantly affects the international oil market. Is this because most traders are American , and therefore quite uninterested/ignorant about other parts of the world and therefore also make bad predictions?
or is it because the 25 procent of world oil that US uses really is a big chunk? Like other countries' markets might be affected in similar ways but not in step with each other, cancelling each other out, and therefore watching the US market really makes the best predictions?
Or lies the explanation in the economic journalists that have to find a reason for ups and downs in the oil prices and then look to things in hte USA? Again, are most commentators of the oil market Americans? It seem like they are - but why?
Just trying to understand how rational or irrational the oil market is.
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