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.
Joined: Apr 28, 2005 Posts: 3908 Location: West shore Lake Eire, MI, USA
Posted: Fri Jul 27, 2007 5:56 am Post subject: Re: Oil Rises After Report Shows Third Straight Weekly Suppl
Its UP^^^^ Its Down \/ Its UP^^^^ Its Down \/ Its UP^^^^ Its Down \/ Its UP^^^^ Its Down \/
I HATE volatillity, how in the heck can I make plans short term with all this market noise distracting me? _________________ Always appeal to a man's enlightened self interest, you can trust him to look out for himself honestly, It's when you appeal to his Honor or the Common Good that he stops paying attention.
Joined: Jun 13, 2007 Posts: 3894 Location: Minniesotuh
Posted: Fri Jul 27, 2007 9:26 am Post subject: Re: Oil Rises After Report Shows Third Straight Weekly Suppl
All three (Dow, NAS, S&P) all still down, but, gas is up. Last night, there were several stock guys giving recommendations-one said that for oil he would pull out of all oil stocks except for those of drillers.
Up, down up, down ... You've got quite a beat there!!
Joined: Aug 26, 2005 Posts: 1009 Location: "Mad as Hell !"
Posted: Fri Jul 27, 2007 9:36 am Post subject: Re: Oil Rises After Report Shows Third Straight Weekly Suppl
The market is only looking at oil demand from a supply side when it comes to economic growth. It goes down when markets retreat perceiving less growth and demand for oil and just the opposite when markets accelerate.
They have yet to grasp the underlying fundamental problems of supply. _________________ The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
... Theodore Roosevelt
Joined: Dec 02, 2005 Posts: 6755 Location: Oil-addicted Southern Californucopia
Posted: Fri Jul 27, 2007 12:39 pm Post subject: Re: Oil Rises After Report Shows Third Straight Weekly Suppl
Lore wrote:
They have yet to grasp the underlying fundamental problems of supply.
I dunno, but maybe a few light bulbs are starting to glimmer over a few of their heads:
This latest surge doesn't look like a spike anymore. It's looking more and more like they're coming around on the supply issue. It appears that the new floor could well be over $70.
Not for long, though. It'll soon be far beyond that. We all know what's coming. _________________ "Thank you for attending the oil age. We're going to scrape what we can out of these tar pits in Alberta and then shut down the machines and turn out the lights. Goodnight." - seldom_seen
Joined: Jan 06, 2006 Posts: 508 Location: Pacific Northwest
Posted: Fri Jul 27, 2007 2:12 pm Post subject: Re: Oil Rises After Report Shows Third Straight Weekly Suppl
Oil is on track to close at a record high today. Worse, it is likely to be the high of the session. There is basically just a line pointing up _________________ We stand here, as the light of other days surrounds us.
"Hail the Dead"
Joined: Feb 20, 2005 Posts: 2886 Location: Uppsala, Sweden
Posted: Fri Jul 27, 2007 3:09 pm Post subject: Re: Oil Rises After Report Shows Third Straight Weekly Suppl
What I don't understand is that while oil is up, oil companies are down. OK, sure, they are bound to be dragged down by the rest of the market. But they are losing more than the market average.
So what's happening? _________________ Peak oil is not an energy crisis. It is a liquid fuel crisis.
Joined: Oct 23, 2004 Posts: 5928 Location: New Jersey
Posted: Fri Jul 27, 2007 3:23 pm Post subject: Re: Oil Rises After Report Shows Third Straight Weekly Suppl
Starvid wrote:
What I don't understand is that while oil is up, oil companies are down. OK, sure, they are bound to be dragged down by the rest of the market. But they are losing more than the market average.
So what's happening?
Panic selling by hedge funds seeking to liquidate winners (energy stocks) to raise up cash for margin calls on losers, like mortgage backed securities and stocks of companies where expected deals fell through. _________________ It's already over, now it's just a matter of adjusting.
Joined: Aug 26, 2005 Posts: 1009 Location: "Mad as Hell !"
Posted: Fri Jul 27, 2007 10:11 pm Post subject: Re: Oil Rises After Report Shows Third Straight Weekly Suppl
Zardoz wrote:
This latest surge doesn't look like a spike anymore. It's looking more and more like they're coming around on the supply issue. It appears that the new floor could well be over $70.
Not for long, though. It'll soon be far beyond that. We all know what's coming.
This is the Bloomberg's analysis today on oil; pretty much par for the course reasoning.
Oil Surges to $77.02, 1 Cent Short of Record, on U.S. Economy
Quote:
July 27 (Bloomberg) -- Crude oil surged to $77.02 a barrel in New York, 1 cent short of a record close, after a government report showed that the U.S. economy grew more than expected in the second quarter, indicating fuel demand will rise.
The economy expanded 3.4 percent last quarter, the fastest pace in more than a year. The U.S. consumes 24 percent of global oil production. The International Energy Agency said on July 13 that world oil demand will rise 1.8 percent next year. The Organization of Petroleum Exporting Countries hasn't raised output to keep pace with growing consumption.
``The economy is growing at a comfortable pace in spite of high prices, which has to be bullish,'' said Eric Wittenauer, an energy analyst at A.G. Edwards & Sons Inc. in St. Louis. ``One thing we've seen from the earnings this week is that the major oil companies aren't replacing reserves, so when OPEC sits on its hands there's going to be a shortfall.''
`No Effort'
``There's a lot of demand and OPEC is making no effort to increase supply,'' said Sarah Emerson, managing director of Energy Security Analysis Inc., a consulting firm in Wakefield, Massachusetts. ``We're looking at a shortfall in supplies during the second half of the year.''
Prices Under Pressure
``I think prices will be under pressure next week, especially if we get another build in gasoline stockpiles,'' said Kyle Cooper, director of research at IAF Advisors in Houston. ``We are supposed to be seeing stockpiles decline at this time of year so even a 100,000 barrel gain will eat into the year-on-year deficit.''
U.S. gasoline inventories rose 793,000 barrels last week, according to an Energy Department report on July 25. The crude- oil market often follows gasoline during the summer driving season. U.S. gasoline demand peaks between the Memorial Day holiday in late May and Labor Day in early September.
As I've said the key will be what OPEC decides to do in September. It'll be interesting to hear the excuse from them at that time, if they can't belly up to the bar, especially if oil stands around $80 - $85. _________________ The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
... Theodore Roosevelt
Posted: Sat Jul 28, 2007 9:14 am Post subject: Re: Oil Rises After Report Shows Third Straight Weekly Suppl
`No Effort'
``There's a lot of demand and OPEC is making no effort to increase supply,'' said Sarah Emerson, managing director of Energy Security Analysis Inc., a consulting firm in Wakefield, Massachusetts. ``We're looking at a shortfall in supplies during the second half of the year.''
She obviously isn't aware of greatly increased drilling by Saudia Arabia. You'd think it would be prudent to mention 'depletion' just once in a discussion like this. _________________ ree rah rip ram. sunofabitch godamn. hidey didey christ almighty. rah rah crap
Joined: Apr 05, 2005 Posts: 2590 Location: South of Atlanta
Posted: Sat Jul 28, 2007 10:18 am Post subject: Re: Oil Rises After Report Shows Third Straight Weekly Suppl
pstarr wrote:
`No Effort'
``There's a lot of demand and OPEC is making no effort to increase supply,'' said Sarah Emerson, managing director of Energy Security Analysis Inc., a consulting firm in Wakefield, Massachusetts. ``We're looking at a shortfall in supplies during the second half of the year.''
She obviously isn't aware of greatly increased drilling by Saudia Arabia. You'd think it would be prudent to mention 'depletion' just once in a discussion like this.
This is exactly the problem i've been alluding to. It becomes clearer over time that those who are supposed to be "in the know" are totally out of the loop. They are removed from any real research and just spout ridiculous excuses for whats going on. I highly doubt they are aware of even basic fundamentals and what is really going on.
Another nail in the doomer coffin. This will make the fall harder. Of that I have no doubt.
Joined: Apr 28, 2005 Posts: 3908 Location: West shore Lake Eire, MI, USA
Posted: Sat Jul 28, 2007 11:26 am Post subject: Re: Oil Rises After Report Shows Third Straight Weekly Suppl
ElijahJones wrote:
Two to three years after the peak in LSC comes the crude awakening. It has been said, often and by many in the know. I for one have to admit that what we are seeing this year in no way contradicts the base level theory. And the demand side argument is also true. More and more people around the world are entering the demand side for oil through the quest for the technologies that use it. Human population is still growing and energy demand is correlated to that. I am in total agreement though Lore that it is a convenient and tasy red herring for those who cannot imagine that the black crack is about to become more and more rare continually until it is gone. Some might say that nature gave us just a taste to see if we could handle it, but we could'nt. How fortunate for us all that there is only a finite amount of oil. Imagine what the world would be like in another two hundred years if there were twice as much. Would it be better or worse do you think?
Twice as much oil would only add between 30 and 50 years of growth, remember the excess each year adds to the consumption RATE as well as the total cumulative consumption. _________________ Always appeal to a man's enlightened self interest, you can trust him to look out for himself honestly, It's when you appeal to his Honor or the Common Good that he stops paying attention.
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ree rah rip ram. sunofabitch godamn. hidey didey christ almighty. rah rah crap 
