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Old 06-13-2008, 09:44 PM   #101 (permalink)
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After reading all of this it is clear that this is a very complex situation, with a lot more players involved than just the oil companies, though that is what the politicians would like many to believe.

I'll throw this out on the table for you economists to debate......

Could it not be a very very good move for the United States (speculatively speaking of course!) to...........

1. Hang on to our reserves of oil which will become increasingly valuable especially overseas where the switch to alternative fuels will be the last place that they are ever realised.

2. Eliminate the bottleneck at the production level by building new refineries.

3. Continue to keep the dollar weak (but stable) to encourage US exports and stimulate job growth, and foreign currency coming into the country. Not to mention paying off foreign debts with cheap paper!

It would seem that if we can tough it out like this for a while, the oil market will correct itself some, and in the long run we will come out of it all holding all the cards?

What do all you cigar smoking, fuzzy thinking, masters of high risk finance thing about the above conditions?
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Old 06-13-2008, 11:37 PM   #102 (permalink)
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Thkyle,
My very fuzzy thoughts run something like
1. We can't be sure when a viable alternative fuel will come along and replace petroleum so holding our's in reserve while paying inflated prices for someone else' could very well bite us in the hind end if suddenly the demand is greatly reduced.
2.I wholeheartedly agree with reducing the bottleneck with new refinerys!
3. This sounds good to me but I will have to wait for Harbinger to weigh in. Macro econ was 30 years ago and didn't really make sense to me. I remember arguing with the prof as it seemed that global monetary values were created with much hand-waving and mirrors at the whim of the bankers with no substance behind the changes. Everything seemed totally made up with nothing tangible.

On that vein Harbinger, early in this thread you said that what we pay for oil is not necessarily what others pay. How do you mean that? Isn't it essentually sold to the highest bidder? Or there "friends of Allah" discounts? Again international finance didn't seem real to me so there may be something there I don't understand.

Thelar, Yes I have owned and run a couple of businesses in the past so I am aware how books can be legally "cooked" to hide profits. But when the books are showing record profits it would seem difficult to not show where the profit is coming from.
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Old 06-13-2008, 11:43 PM   #103 (permalink)
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Well...I hear there is a car that runs on water....
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Old 06-14-2008, 12:00 AM   #104 (permalink)
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On that vein Harbinger, early in this thread you said that what we pay for oil is not necessarily what others pay. How do you mean that? Isn't it essentually sold to the highest bidder? Or there "friends of Allah" discounts? Again international finance didn't seem real to me so there may be something there I don't understand.

Thelar, Yes I have owned and run a couple of businesses in the past so I am aware how books can be legally "cooked" to hide profits. But when the books are showing record profits it would seem difficult to not show where the profit is coming from.
Some governments offset purchases more than others, mostly those that make oil. Some governments have true FREE markets, we are not one of them.

Look at Norway, they found enough oil to last a long long time but still have some of the highest gas prices in the world.

Oil is sold in futures contracts. It is not like we just go to the oil store and buy 1 billion gallons/day. Had companies been wise they would have bought more earlier. Oil is still cyclical, so wait for winter when all the heating oil is needed.

If Suadi Arabia has 45 cent gas, and Argentina has like 20 cent gas, do you think they are paying 134.86/barrel?
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Old 06-14-2008, 04:24 PM   #105 (permalink)
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I'm not signing. I actually enjoy these gas prices. There is a lot less traffic on the highways. I can afford to pay for the extra cost incurred by the high cost of gas. Live within your means.

Shouldn't Al Gore and the rest of the global warning/CO2 footprint people be applauding? Nothing has impacted the way people drive or how much they drive and create CO2 as much as these high gas prices.
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Old 06-14-2008, 04:36 PM   #106 (permalink)
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I'm not signing. I actually enjoy these gas prices. There is a lot less traffic on the highways. I can afford to pay for the extra cost incurred by the high cost of gas. Live within your means.

Shouldn't Al Gore and the rest of the global warning/CO2 footprint people be applauding? Nothing has impacted the way people drive or how much they drive and create CO2 as much as these high gas prices.
They are still snow skiing in Colorado.
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Old 06-14-2008, 09:21 PM   #107 (permalink)
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They are still snow skiing in Colorado.
Actually the resorts have been closed for a while. But they did have a very long year compared to normal.
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Old 06-14-2008, 09:43 PM   #108 (permalink)
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Actually the resorts have been closed for a while. But they did have a very long year compared to normal.
Aspen is open this weekend, or so Carter's link said.
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