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.
Posted: Thu Jun 05, 2008 8:16 pm Post subject: Re: highest price increase in one day new record
Say it with me now brothers and sisters - say it, mean it . . .
Volatility in the oil markets is the expected result of passing Peak Oil.
It's getting creepy how right we are.
I've only been on board about 3 years. For the old timers who were in on the ground floor, it must be like watching a book you wrote being acted out in a play. _________________ Massive Human Dieoff must occur as a result of Peak Oil. Many more than half will die. It will occur everywhere, including where you live. If you fail to recognize this, then your odds of living move toward the "going to die" group.
Posted: Thu Jun 05, 2008 8:36 pm Post subject: Re: highest price increase in one day new record
Elsewhere, on the same website, Vacation near mass transit they explore travel to cities with transit as a way to have fun, without the cost of fillups and parking.
Wow, when the Wall Street types start vacationing by bus, rather than their Hummers, you know the paradigm has shifted!
Last edited by Denny on Thu Jun 05, 2008 8:38 pm; edited 1 time in total
Joined: Oct 23, 2004 Posts: 5928 Location: New Jersey
Posted: Thu Jun 05, 2008 8:51 pm Post subject: Re: highest price increase in one day new record
I had to read this twice - it appears that Asia is sucking in most of OPEC's exports - or at least the increase in exports over the last month or so.
Possibly oil inventories in the Far East ran down to minimum operating levels, and now they are frantically trying to avoid fuel delivery systems failure. We can't be sure, but if it looks like panic, well...
Quote:
6/5/08 Oster Dow Jones 15:30:01
June 5, 2008
DJ OPEC Exports Seen At Highest In 2008 By Late June - Tracker
LONDON, Jun 05, 2008 (Dow Jones Commodities News via Comtex) -- Crude oil shipments from the Organization of Petroleum Exporting Countries are forecast to rise to their highest level so far this year by the end of June amid relatively healthy Asian energy demand, according to data released Thursday by U.K.-based tanker tracker Oil Movements .
Shipments from OPEC members are seen totaling 24.97 million barrels a day in the four weeks to June 21, up from 24.55 million barrels a day in the four-week period to May 24, Oil Movements said.
The big driver of the report is healthy demand in Asia where nearly all the OPEC shipments for the four-week period to June 21 are headed, Mason said.
[no link] _________________ It's already over, now it's just a matter of adjusting.
Last edited by DantesPeak on Thu Jun 05, 2008 8:58 pm; edited 1 time in total
Posted: Thu Jun 05, 2008 8:54 pm Post subject: Re: highest price increase in one day new record
You heard the markets...$121 is the new floor. Jumps of 5% don't happen every day. The only time this happens is if something is over sold. Oil was over sold so we are looking at a new rally here. My bet is $140 by the end of next week.
Joined: Mar 28, 2005 Posts: 399 Location: Northern California, USA
Posted: Thu Jun 05, 2008 9:09 pm Post subject: Re: highest price increase in one day new record
Remember those trillions of dollars China built up over the years? Remember how all the economic pundits were wondering what they were going to do with it? Well, they're using it to subsidize their oil purchases.
I've also noticed that the real gas price insanity started to ramp about the time of the Chengdu earthquake and Myanmar Hurricane. Curious ain't it?
Posted: Thu Jun 05, 2008 9:14 pm Post subject: Re: highest price increase in one day new record
The best part of the article:
Quote:
Crude's late-day launch occurred out of nowhere, with no new data release or news headlines for an impetus. The last hour of trading can only be described as hysterical, with oil traders calling financial reporters, desperately trying to find out what vital information they were missing that the rest of the market had apparently discovered.
Posted: Thu Jun 05, 2008 9:18 pm Post subject: Re: highest price increase in one day new record
Cashmere wrote:
I've only been on board about 3 years. For the old timers who were in on the ground floor, it must be like watching a book you wrote being acted out in a play.
You ain't seen nothing yet. _________________ If you want a picture of the future, imagine a boot stamping on a human face--for ever."
-George Orwell, 1984
Joined: Dec 18, 2004 Posts: 4963 Location: One Mile From the Columbia River
Posted: Thu Jun 05, 2008 9:51 pm Post subject: Re: highest price increase in one day new record
Cashmere wrote:
I've only been on board about 3 years. For the old timers who were in on the ground floor, it must be like watching a book you wrote being acted out in a play.
That would be me. Yes, it's interesting to see this drama unfold darn near just as we predicted.
Hey!!! Wanna hear what's in store for the next few years? I didn't think so. _________________ Got Dharma?
Posted: Thu Jun 05, 2008 10:25 pm Post subject: Re: highest price increase in one day new record
eastbay wrote:
Hey!!! Wanna hear what's in store for the next few years? I didn't think so.
Oh, go ahead and tell them.
Back in the 1950's - before the green revolution with its mechanization, irrigation, artificial fertilizers and pesticides, the Earth had a population of about 2.5 billion. People still referred to the "limitless bounty of the sea."
Today we have 6.5 billion and growing. The fisheries are dying, the climate is changing, and we eat about 10 calories of oil for every one calorie of food.
Will we revert to 2.5 billion? No - because due to overshoot, we will destroy our food-producing environment as each person seeks survival. We will reduce the planet to a burned out cinder.
If the population stabilizes above 1 billion I will be surprised.
Few thought oil would go up this fast.
Remember that 10:1 calorie ratio I mentioned? Gee, I wonder what that means for food prices? We're only up 43% or so.
So those with children and grandchildren will get to see them starve to death.
That's what's coming. And the funny part is - there isn't a thing anyone can do to stop it.
Joined: Dec 18, 2004 Posts: 4963 Location: One Mile From the Columbia River
Posted: Thu Jun 05, 2008 10:42 pm Post subject: Re: highest price increase in one day new record
OK fine. I will.
But first I want to say that today's price swing will be repeated more and more as time passes and energy scarcity increasingly raises itself as THE premiere issue for markets worldwide. At some point....
.... here goes... I offered a four point/ four year prediction on an earlier thread a few days ago. It's back a few pages in Open Discussion.
Basically we're going to experience an economic decline for a few years where economies will decay in a bumpy fashion and civil unrest will frighteningly appear. I'll call it, The Initial Period of Adaption.
After that we're heading straight to the Four Horsemen and there's nothing anyone can do to prevent it. But it's tough to predict exactly when that period will ignite.
Now again, we will all have somewhere around four years of slow decay ... call it a happy time, please ... and after that I have no idea when the real gut-retching fun will start and our assorted preparations will be put to the final test.
Optimistically, I'm hoping we'll simply slow the pace of the decline for a period of time. You know, maybe if we're lucky we'll slowly pass through Pakistan for a few years before we zing through Zimbabwe. _________________ Got Dharma?
Posted: Thu Jun 05, 2008 11:15 pm Post subject: Re: highest price increase in one day new record
Cashmere wrote:
I've only been on board about 3 years. For the old timers who were in on the ground floor, it must be like watching a book you wrote being acted out in a play.
I'm really desperately hoping we got the plot wrong somewhere before the zombies and cannibalism part. _________________ "So while you sit and whistle Dixie with your money and your power.
I can hear the flowers a-growin in the rubble of the towers.
I hear leaders quit their lying
I hear babies quit their crying.
I hear soldiers quit their dying, one and all." - OCMS
Joined: Apr 06, 2006 Posts: 3625 Location: 3 miles NW of Champoeg, Republic of Cascadia
Posted: Thu Jun 05, 2008 11:23 pm Post subject: Re: highest price increase in one day new record
Never going to eat another farking kernel after reading Jack's stuff over the years... Well maybe if I'm hungry enough.
There's always Venter's oil-pooping bacteria. Black swans and wild cards. Loved this comment on a blog about Venter: "Bioengineer me a pet dragon, Fark. Then I will be impressed." _________________ Cogito, ergo non satis bibivi
C'mon man, who're you gonna believe?
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