Posted on 06/06/2008 12:09:55 PM PDT by Blood of Tyrants
The Dow Industrials is just an average of thirty stocks and it is heavily MANIPULATED by constantly changing stocks. I am not sure why they are still called the industrials, when it has McDonald's and Coke. When the Dow was 5000, the average was a little more deserving of the the title industrials. It contained Bethlehem Steel and Woolworth's, they are not in the Dow anymore and for good reason they no longer exist.
The only problem with that statement is that it takes an awful lot of oil to break our addiction. In order to migrate from oil we must build an entirely new energy infrastruture. That means we need a lot of steel, concrete, copper and aluminum...and all of theose raw materials require huge quantities of oil to mine, process, transport and construct. My fear is that for lack of oil, we may not be able to migrate away from oil quickly enough.
We all know most Americans have reduced their gas usage considerably. We alone have reduced ours by as much as 25 percent, eliminating all needless trips and combining others. Most people are already rationing their use.
Yet prices continue to rise rapidly.
If this continues, we're all going to witness a massive collapse.
“do you think this is intentional on the part of congress?”
Is Obama a liberal?
our addiction to oil or our addiction to freedom of movement and to live in the country not the city? Bet McCain and Obama would answer those questions VERY differently...
So, “It’s different this time”? :-)
Yes!!! China and India are industrializing at a dizzying pace. If the price of oil begins to go down they will simply suck that up.
Speculator apologist shows up right on cue.
Ding! We have a winner.
The truth, the whole truth, and nothing but the truth.
Did you know that a diesel engine will run just fine on a 50/50 mixture of regular gasoline and filtered, used motor oil? And people will give used motor oil away.
Not I...my message was full of sarcasm.
So here's my modest proposal: Bomb Saudi Arabia. This will immediately solve the problem of our reliance on Saudi oil, and the resulting energy shortage will guarantee that we develop our own vast supply of oil shale, tar sands, coal-to-liquids, etc. And more immediately, start producing the 85% of our continental shelf oil now off limits due to environmental concerns.
>> If the price of oil begins to go down they will simply suck that up.
Do you believe in “peak oil”?
I don’t.
I do believe there may be a time lag bringing new sources on line.
Eternal high prices sort of depend on zero-sum supplies, do they not?
...”sea of oil?” Ha, ha, ha! It’s wishful thinking economics.
Drill and build factories in the liberal, commie-hiring, rich folks’ back yards. Then you’ll have enough oil and jobs close to home. Until then, enjoy your suffering.
No-vote!
Who knows...maybe this will give the GOP enough backbone to start pushing hard for drilling in all domestic locations and building more refineries.
I was part of a scale trading partnership in the previous life and when the managers wanted to have a little fun with speculative capital they would go gunning the stops in thinly traded markets like cocoa and flaxseed oil. It was easy (relatively speaking) to slam those markets with big sell orders and trigger the stop loss orders, since anyone who could read charts and knew technical trading could tell where the stops likely were placed. Trouble here is, crude isn't exactly a thinly traded market. You'd need a huge flood of sell orders to slam the market significantly. Still, someone like DOE, with the SPR reserves backing up their short contracts, could do it. If people are worried about overspeculation, this would be a way to flush a lot of them out of the markets.
“If this continues, we’re all going to witness a massive collapse. “
And Congress could reverse the trend of rising gasoline prices in a single vote, yet they would rather kiss the collective asses of a few environMENTAL whacko.
This would be a great opportunity for McCain to come out and call more drilling on U.S. soil, but I’m not holding my breath...it’s going to be a long eight years.
“So here’s my modest proposal: Bomb Saudi Arabia. This will immediately solve the problem of our reliance on Saudi oil, and the resulting energy shortage will guarantee that we develop our own vast supply of oil shale, tar sands, coal-to-liquids, etc.”
And in the ten years it takes to do this we pay $10/gal for gasoline.
Uh, no thanks. I’ll work on pressuring Congress to open ANWR and the Gulf for more drilling and more oil refineries.
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