Would more oil drilling bring an instant drop in oil prices? - Page 5

MC.no.spin · 07-24-08, 03:57 AM

Quote:

Originally Posted by buttonpsi

And what is the exact "policy" of Ben to let the dollar slide? I personally don't think George has anything to do with the dollar, but what is the position of the reserve and its chairman on the slide?

I see a lack of notice to the slide of the dollar, but not a "policy" per-say.

We are losing our grip on homeland resources that are worth a crap, and we shrug it off as international economic strategy. This may be Ben's fault, but not George's because he is in a different part of the government.

He's been lowering the Federal Funds Rate despite inflatinary pressures. This is due to the sub-prime mortgage crisis with many banks and other financial institutions needing loans to stay afloat. However, this means more money goes into the economy, thus weakening the value of the dollar.

obvious Child · 07-24-08, 10:12 PM

Quote:

Originally Posted by buttonpsi

And what is the exact "policy" of Ben to let the dollar slide? I personally don't think George has anything to do with the dollar, but what is the position of the reserve and its chairman on the slide?

I see a lack of notice to the slide of the dollar, but not a "policy" per-say.

We are losing our grip on homeland resources that are worth a crap, and we shrug it off as international economic strategy. This may be Ben's fault, but not George's because he is in a different part of the government.

Mc pretty much covered it on the Fed side. Remember that as more currency flows into the market with a rise in hard asset value, inflation is going to occur. Inflation itself results in organizations that have large amounts of money in the financial markets to hedge against inflation. Oil has been one of these hedges. Bush's tax rebates and stimulus plan has poured billions into the market without a corresponding rise in value. Furthermore, his massive debt sprees have flooded the debt market with US securities. Remember that the debt market impacts the value of the dollar, it's a reason why China and Japan could destroy the dollar with a mass sell off of their securities and debt holdings. Bush's reckless fiscal policies have resulted in a weak dollar and inflation. Couple that with the Fed's catch 22 and it's no wonder we have these problems.

Bodhisattva · 07-25-08, 12:25 AM

Yes. We need to start drilling everywhere right now. There are thousands of massive multi-million dollar homes built over a once beautiful wetlands that is untold amount of oil right by my parents house, I say... evict them all and start drilling RIGHT NOW!

jfuh · 07-25-08, 12:44 AM

Quote:

Originally Posted by DarkWizard12

Oil had a record drop in prices after the president lifted his ban, so yes.

Quite oblivious huh? Tell me what point is to "lifting" a ban when it doesn't actually lift the ban at all?

buttonpsi · 07-27-08, 03:52 AM

Quote:

Originally Posted by obvious Child

Mc pretty much covered it on the Fed side. Remember that as more currency flows into the market with a rise in hard asset value, inflation is going to occur. Inflation itself results in organizations that have large amounts of money in the financial markets to hedge against inflation. Oil has been one of these hedges. Bush's tax rebates and stimulus plan has poured billions into the market without a corresponding rise in value. Furthermore, his massive debt sprees have flooded the debt market with US securities. Remember that the debt market impacts the value of the dollar, it's a reason why China and Japan could destroy the dollar with a mass sell off of their securities and debt holdings. Bush's reckless fiscal policies have resulted in a weak dollar and inflation. Couple that with the Fed's catch 22 and it's no wonder we have these problems.

Shhhhhhhhh......don't let people know about that...Or we are screwed.

buttonpsi · 07-27-08, 03:54 AM

Quote:

Originally Posted by MC.no.spin

He's been lowering the Federal Funds Rate despite inflatinary pressures. This is due to the sub-prime mortgage crisis with many banks and other financial institutions needing loans to stay afloat. However, this means more money goes into the economy, thus weakening the value of the dollar.

Who is "he" - Ben or George? I wonder how we can deal with such flimsy BS.
The whole market has gone laffy-taffy-bugs-bunny-mickey-mouse and Walt Disney isn't here to save us.

Iriemon · 07-27-08, 09:41 AM

Quote:

Originally Posted by Bodhisattva

Yes. We need to start drilling everywhere right now. There are thousands of massive multi-million dollar homes built over a once beautiful wetlands that is untold amount of oil right by my parents house, I say... evict them all and start drilling RIGHT NOW!

Aren't there thousands of leases already out that have not been drilled?

Workaholic · 08-18-08, 12:55 PM

Every since the world has noticed that the American public is pushing for a energy plan gasoline has been dropping. I saw it for $3.49 this morning.

If we do not let up when prices keep dropping we will see prices brought back under control.

We need to drill yes, but we need to push clean coal technology, wind, solar, hydrogen, better batteries, updated and more refineries and Nuclear energy.

Ethanol cost to much to make without Government subsidies and drives the price of food up world wide. It needs to be taken off the shelf.

Lets keep the pressure on Congress to pass a energy bill.

( I AM NOBODY AND I APPROVE OF THIS MESSAGE!!!!! )

buttonpsi · 08-24-08, 04:35 AM

So as I suspected - the price dropped immediately...

Fools...it will drop for complacency until we really drill.

buttonpsi · 08-24-08, 04:37 AM

Quote:

Originally Posted by MC.no.spin

He's been lowering the Federal Funds Rate despite inflatinary pressures. This is due to the sub-prime mortgage crisis with many banks and other financial institutions needing loans to stay afloat. However, this means more money goes into the economy, thus weakening the value of the dollar.

Thank you, I just wanted an answer.