Get Out Now! (or as soon as you think prudent)

[longtooth]

Found this article/video on the GM Yahoo financial site.

Ladies, Gentlemen, adjust your portfolios.

With all of the good people who are members here, those best at 'seeing around corners' should have fun with this one. I'm hoping. Thanks.

the link:

http://finance.yahoo.com/tech-ticker/artic...-Investor-Herro

Edited June 16, 2008 by longtooth

[CSpec]

I've been reading lots of articles about energy prices being as fatuous as the dot-coms. The fundamentals simply aren't there to support these high prices, or so these articles say.

[Drew Dowdell]

I work for a company that trades in these commodities and they don't even see the reasoning for it.

Edit: other than dollar devaluation.

[longtooth]

I work for a company that trades in these commodities and they don't even see the reasoning for it.

Edit: other than dollar devaluation.

The Dollar being a reflection of all that we are collectively. Not very flattering.

[longtooth]

I've been reading lots of articles about energy prices being as fatuous as the dot-coms. The fundamentals simply aren't there to support these high prices, or so these articles say.

Exploiting our fears perhaps. Herd mentality. Like Real Property.

See the ceiling as yet for prices?

[gm4life]

Energy prices won't stay like this trust me. People won't get there lights screwed out this bad. Trust me, we need more domestic production, and more production from the Saudi's.

[Drew Dowdell]

The Dollar being a reflection of all that we are collectively. Not very flattering.

well a lot of the devaluation comes from the huge run up of debt this country has taken on while simultaneously printing more money to pay for the debt. The number of dollars in circulation has doubled since Bush took office.

[A Horse With No Name]

IMHO Bush has done more damage to the U.S. than any other president ever.

Chris

[longtooth]

well a lot of the devaluation comes from the huge run up of debt this country has taken on while simultaneously printing more money to pay for the debt. The number of dollars in circulation has doubled since Bush took office.

A Nation's currency betrays it's habits. Seems 'we' have deficit-spent ourselves into second rate status. (imo)

[A Horse With No Name]

A Nation's currency betrays it's habits. Seems 'we' have deficit-spent ourselves into second rate status. (imo)

I would agree.

Chris

[turbo200]

Saudis have announced they will increase production by 200,000 barrels/day next month. I just hope this is a huge lesson to us all, to understand who is really screwing us over. we need energy independence. i've also read a solid report on the commodities, with the conclusion the drop in oil could be substantial one day soon, maybe $25-50/day. I just want to see it happen.

[A Horse With No Name]

Hopefully this scare will point us towards alternate sources.

Chris

[longtooth]

'Stang, we're notorious for short attention spans. Still there's hope.

[balthazar]

Saudi production increases, in & of themselves- are not going to do much of anything for the price- we only get a small percentage of our oil from them. The biggest potential effect would be if we were to be allowed to drill on untapped U.S. fields, but the Dems keep banning it.

I agree that there's a big energy bubble already formed, and it should deflate very soon.... but we need something to 'happen' to break the current speculation stupor. What that would be I don't know; can't see it from here... but it better get here soon.

[PurdueGuy]

I hope gas prices stay about where they're at, not up or down really. They're high enough to motivate significant research into alternative fuels, but not high enough to destroy our economy... too much... hopefully.

[vonVeezelsnider]

Saudis have announced they will increase production by 200,000 barrels/day next month. I just hope this is a huge lesson to us all, to understand who is really screwing us over. we need energy independence.

The Saudis have a minimal effect at best... 2/3 of the Oil America Consumes comes from within North America, the lions share of it from Canada. The rest is divvied up between Venezuela, Saudi Arabia, Kuwait, other Gulf Countries.

i've also read a solid report on the commodities, with the conclusion the drop in oil could be substantial one day soon, maybe $25-50/day. I just want to see it happen.

I definitely agree with this statement. My gut tells me this will happen sometime after Christmas... Now if Gas Prices follow suit... That's another matter.

[longtooth]

The Saudis have a minimal effect at best... 2/3 of the Oil America Consumes comes from within North America, the lions share of it from Canada. The rest is divvied up between Venezuela, Saudi Arabia, Kuwait, other Gulf Countries.

I definitely agree with this statement. My gut tells me this will happen sometime after Christmas... Now if Gas Prices follow suit... That's another matter.

Quite. Although I think it's benchmarking. Katrina conditioned us for $3 per gallon and allowed us to be read as to backlash. I believe what is occurring now is conditioning for the $3.75 to $4 per gallon range. Unless futures trade consistently under $80/barrel. As for it lasting until Christmas (may Heaven please forfend that) that'd darken the 'holiday' for more than a few merchants.

[loki]

Hopefully this scare will point us towards alternate sources.

Chris

without subsidies! in 2012 tax payers will be spending $4+ billion on ethanol national subsidies, if nothing changes.

after oil falls back under $100, the oil subsidies should be halved, or something. this would prolly produce low $3 gas @$100 barrel....?

[CSpec]

Not only is the Saudi production increase not all that helpful, many people have doubts about their ability to actually increase production that much. Speculation is that they are actually reaching their capacity limit. People say that the supply problems mainly stem from Nigeria's lessened production. I also agree that this will be a good thing in the long run--hopefully this oil scare will allow people to kick the..barrel..and end oil's 100 year monopoly on the world through alternative energy resources.

[longtooth]

Not only is the Saudi production increase not all that helpful, many people have doubts about their ability to actually increase production that much. Speculation is that they are actually reaching their capacity limit. People say that the supply problems mainly stem from Nigeria's lessened production. I also agree that this will be a good thing in the long run--hopefully this oil scare will allow people to kick the..barrel..and end oil's 100 year monopoly on the world through alternative energy resources.

Referencing the acclaimed film "There Will Be Blood" (long straw please). "I drink your milkshake. I drink it up!"

So we're perilously short on 'shakes here. I still think that the 'bubble' is primed to pop. Time'll tell.

[Drew Dowdell]

Chinese scaling back subsidies

Drivers cut back by 30billion miles between Nov 07 and April 08 - biggest drop since 1979-1980