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Thread: Oil Crushed as IEA Releases 60M in Reserves

  1. #11
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    Re: Oil Crushed as IEA Releases 60M in Reserves

    Quote Originally Posted by j-mac View Post
    Point made that this is less than one day global usage of oil. Imagine what an announcement that America would be opening up drilling of exploration, as well as known reserves with lessened EPA interference. Price would drop below $50 I bet....


    Obama is a dunce.


    j-mac
    Stripping EPA restrictions would also give a bump to the health industry, especially businesses that deal in cancer and respiritory illnesses. Lawyers would get a big bump handling the lawsuits. The birth rate would probably decrease and infant mortality would increase. Less welfare babies. Work fatalities would increase thus creating more job oppertunity. And we would have an ideal work place to send the kids, that can't afford to pay for school,to everyday.

    Man, I say we just slop the planet up and rent out the upstairs to a herd of swine. There are just too many advantages to letting the planet go to hell in a hand basket to ignore. Why the **** should we care? Before it get's beyond inhabitable, we'll be dead anyways.

    Just kidding. I'm just patronizing J-mac. I am always looking for new friends.
    Last edited by Captain America; 06-24-11 at 12:09 AM.

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  2. #12
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    Re: Oil Crushed as IEA Releases 60M in Reserves

    Quote Originally Posted by j-mac View Post
    Point made that this is less than one day global usage of oil. Imagine what an announcement that America would be opening up drilling of exploration, as well as known reserves with lessened EPA interference. Price would drop below $50 I bet....


    Obama is a dunce.


    j-mac
    The EPA made the air in south Louisiana breathable again. I'm all for them remaining in effect. I want the companies to extract the most oil they can in the cheapest and safest way possible that doesn't damage the environment.

  3. #13
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    Re: Oil Crushed as IEA Releases 60M in Reserves

    Quote Originally Posted by Ahlevah View Post
    As I write this, Nymex West Texas Intermediate Crude is below $90 per barrel. The amount of oil being released is miniscule compared to the amount of oil being consumed, so it's plain that the speculative emperors have no clothes as they all head to the exits at once.
    Are these futures or spot rates?
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Oil Crushed as IEA Releases 60M in Reserves

    Quote Originally Posted by j-mac View Post
    Point made that this is less than one day global usage of oil. Imagine what an announcement that America would be opening up drilling of exploration, as well as known reserves with lessened EPA interference. Price would drop below $50 I bet....


    Obama is a dunce.


    j-mac
    Although under Obama American drilling has increased despite us oil consumptiin dropping. The fact of the matter is that the suggested stronger enforcement of regulating speculation needs to be passed.
    "We’re going to close the unproductive tax loopholes that allow some of the truly wealthy to avoid paying their fair share. In theory, some of those loopholes were understandable, but in practice they sometimes made it possible for millionaires to pay nothing, while a bus driver was paying ten percent of his salary, and that’s crazy." -Reagan

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    Re: Oil Crushed as IEA Releases 60M in Reserves

    In other news, Greece is getting a fresh bailout. Papandreou survived a confidence vote. I'll let you peeps think this out one.

    But here's a hint:

    The dollar extended its losses against the euro from last week on expectations that a second financial aid package would be approved for Greece.
    GLOBAL MARKETS-Greece bailout hopes bolster euro, oil - Yahoo! UK & Ireland Finance

    And what do institutional investors use oil for? Currency Hedging!!! Euro goes up...oh wait I'm just giving it away now.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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    Re: Oil Crushed as IEA Releases 60M in Reserves

    Quote Originally Posted by obvious Child View Post
    Are these futures or spot rates?
    August WTI futures.
    Нава́льный 2018

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    Re: Oil Crushed as IEA Releases 60M in Reserves

    Quote Originally Posted by Ahlevah View Post
    August WTI futures.
    Last I looked oil was up today, airlines down.

  8. #18
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    Re: Oil Crushed as IEA Releases 60M in Reserves

    Quote Originally Posted by washunut View Post
    Last I looked oil was up today, airlines down.
    So your point is what? That the airlines are now making money on their hedges again? They're gleefully celebrating the rise in the price of oil as their stocks drop? Or maybe that the limited government manipulation that you lament so much doesn't work, in which case I would argue that maybe we need to have the CFTC impose margin requirements on swaps and futures like the Fed does with stocks. Unless you don't think that setting margin requirements is manipulation?
    Нава́льный 2018

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    Re: Oil Crushed as IEA Releases 60M in Reserves

    Quote Originally Posted by Ahlevah View Post
    So your point is what? That the airlines are now making money on their hedges again? They're gleefully celebrating the rise in the price of oil as their stocks drop? Or maybe that the limited government manipulation that you lament so much doesn't work, in which case I would argue that maybe we need to have the CFTC impose margin requirements on swaps and futures like the Fed does with stocks. Unless you don't think that setting margin requirements is manipulation?
    I simply corrected something you wrote. Not sure where the hatred comes from, get a life.

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    Re: Oil Crushed as IEA Releases 60M in Reserves

    Quote Originally Posted by j-mac View Post
    Point made that this is less than one day global usage of oil. Imagine what an announcement that America would be opening up drilling of exploration, as well as known reserves with lessened EPA interference. Price would drop below $50 I bet....


    Obama is a dunce.


    j-mac
    You seem to think that drilling in ANWAR now, instead of during an actual shortage or major international conflict, is a good idea. I don't believe that. You also seem to think that its ok to let petrofules to be drilled from all locations regardless of risk.

    Quote Originally Posted by dontworrybehappy View Post
    The EPA made the air in south Louisiana breathable again. I'm all for them remaining in effect. I want the companies to extract the most oil they can in the cheapest and safest way possible that doesn't damage the environment.
    OMG SOMEONE WITH SOME GOD DAMN SENSE!!!
    Hayek - too liberal for republicans

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