It is the internet, I use it to gain a well rounded view of the economic world, especially the American economy as I know it affects the whole world, whether I like it or not



not too sure what you mean here, do you mean me or them?



As far as my world view goes general price increases are going to happen along with the rise of the crude price due to falling production. I am glad to live in a country that does not have food riots at the moment and it is not all about evil speculators forcing up the price.



Has no-one taught you not to put all of your eggs in one basket, even the most rudimentary investment stragey will not make this kind of statement.

The beauty of the internet allows us to take information from one place and debate it in another, you may or may not agree, however i think that our points are valid as it shows that even the most sophisticated investor can still be blinkered.

aahala, I think the food/oil relationship is just now becoming clear.

Oil demand because of growing third and second world demand is now inelastic any kind of oil shock is going to see prices skyrocket and demand will still be there.

Demand destruction only comes with all out economic collapse, but even then the equation is oil=food.

At some point we are going to have a shock the odds are just not with us. There is an outside chance we will have a continual slow grind but I wouldn't put my money on it.

I go there because I actually think they have got a good handle on the coming economic collapse. I don't wholly subscribe to the group think there or here.

Is it of any real value, well that is another question. And I am not preaching PO there is no point but I do like to punch holes in their bs and point out facts here and there.

And here on PO we get carried away because there is very little opposing discussion.

$113. 66 link

Up we go...

$113.75. All my friends are getting it. They've heard me talk on peak oil, and they've listened politely, and in the past 6 months I've had 4 converts. And three more friends called this week to ask for advice about falling college funds and things. So people know that something is gravely amiss, and those who have heard about peak oil are now coming back for seconds on the story.

I agree. I've lost my position as the family nutter.

You are watching history in the making folks. This summer can we expect the official global conclave to elect a peak oil czar? Official statements from Russia would be agreat opportunity fo SA to come clean as well. We have to deal with it eventually. Let's see if the candidates pick up on it. It could be a good time for New New Deal.

I guess the question of interest is what now? What if we get the official acknowledgements, what happens then? Oil rises to $120 before Memorial Day, but what else?

There ya go mates! If you move to Alberta and start running a still you have plenty of fuel.

The Late Great Modern World is about to experience an acute problem of global proportions.

Oil prices jump to new high near $114

The stock market crashes, followed by the finance and banking industry, leading to global economic collapse.

The entire system is based on exponential growth. Why does an investor purchase a stock that pays no dividend? Simply because they anticipate future growth in earnings will cause the price to increase. By the way, we are at historically high levels on PE ratios.

Hirsch points out a connection between changes in crude oil availability and global GDP. It is worthy of reflection.

Enjoy.

It hit $113.99 just before the close and backed off some, but it's staying real close to $114 in the afternoon electronic session, at $113.89 right now.

Tomorrow's inventory report should be verryy interesting.

just pinged $114.05

Not me, I still have my douche bag employees saying we are getting gouged by the oil companies. I have this one asshat say that we could power the entire US by somehow using the oceans for energy. He said we could dig rivers that run from the ocean and then damn it up like the Hoover dam. LOL. Between that, hybrids and hydrogen cars, we will have the crises solved. LOL

What blows me away is the fact that as an individual speculator you can make just as much money when the market's going down as well as up.The decline in the dollar has everything to do with it.There's going to be a lot of politicians losing their jobs if they can't get the dollar to rebound.

Triple Yergin Day!