Skip to comments.A World Affloat on an Ocean of Oil
Posted on 06/15/2008 8:12:08 AM PDT by kellynla
Considering how much untapped oil is known to exist, not just in the United States, but worldwide, one would think that its current price was some kind of anomaly and it is. It is more the result of speculation than anything else.
The most fundamental fact about oil worldwide is that there is lots of it. Though frequently overlooked, the ability to refine crude oil plays an essential role in the supply and demand equation. More refining capacity is needed worldwide. Finally, theres the fact that, in general, oil is very expensive to get at and often found in the most inhospitable places on Earth.
For sheer insanity, however, consider a nation that has an estimated 31 billion barrels of oil offshore of its coasts and 117 billion barrels of oil under land owned or managed by the government, plus 139 billion barrels beneath privately held land.
In just one area, a desolate place designated a wildlife refuge, theres an estimated 7.7 billion barrels untapped. The nation with this abundance of oil is, of course, the United States of America. Most of the areas where oil is known to exist have been ruled off-limits to any exploration or extraction by the government.
In the areas where it is accessible, drilling for it is hugely encumbered and often denied by the National Environmental Policy Act, the Clean Water Act, the Endangered Species Act, and the National Historic Preservation Act.
If, however, you connect the dots, you will have noticed by now that Americas energy problems, namely the price of a gallon of gasoline or heating oil, is making everyone miserable thanks in great part to environmental legislation designed to make it impossible to access oil on both public and privately held lands. Then, just to make matters worse, the government requires that every gallon of gasoline include the additive, ethanol, which reduces its mileage and increases its cost.
Further, were told that Sen. Barack Obama, if elected, intends to seize windfall profits. This is sufficient reason for American oil companies to decide to drill anywhere else. The last time a windfall profits tax was implemented was at the end of President Carters term. It had such a negative impact on U.S. oil companies that drilling for oil domestically dropped dramatically. It has stayed that way since the 1980s. Their actual profits are now less than pharmaceutical, high tech, and other elements of the economy. Imagine how thrilled they were to hear Rep. Maxine Waters threat to nationalize them.
No profits. No exploration. No drilling. And no domestic oil with which to correct our dependence on foreign oil and thus provide a measure of security to a nation that runs on oil.
If you wanted to bring the United States to ruin, you could not have designed and implemented a more perfect scheme. Along with too many members of Congress, environmentalists are Americas Fifth Column.
As my friend, Seldon B. Graham, a veteran petroleum engineer and oil industry attorney, and a graduate of West Point says of oil, says If it is worth dying for in the Near East, it is worth drilling for in the United States.
As to the claim that the Earth is running out of oil, that can be easily dismissed simply by reading information available in respected publications such as Business Week. Its June 9 edition reported the Saudis already plan to increase production by 300,000 barrels a day in June for a total of 9.45 barrels to meet customer demand. Unlike the U.S., The Saudis have embarked on an ambitious expansion program that should see more than 2 million barrels of new production capacity come onstream by the middle of next year.
Those of us who follow energy trends read the Energy Tribune because it has some of the best information available on what is really occurring. In its May edition, Matt Pickard wrote about the expansion worldwide of offshore drilling, noting that todays prices are being driven by increased demand from rapidly developing nations such as China and India. This demand is going to increase over the next two or three decades.
Unless the United States begins to free up its own oil and natural gas reserves, Americans are going to be paying more at the pump and in their homes for a very long time to come.
The good news is that the offshore oil and gas industry, despite the huge risks and costs involved and despite an aging, understaffed workforce, is making strides to meet demand. Whether its in the Gulf of Mexico or the North Sea, the icy waters of the Barents Sea or offshore of Brazil and Africa, massive new reserves of oil are being found.
Large discoveries offshore Brazil, the continued progress in every regions major projects, and the ongoing push for Arctic exploration and production point to the industrys potential for growth over the next 20 to 30 years, wrote Pickard. Brazil is poised to become a major producer. In its Tupi field, Petrobas announced an aggressive development plan, with an early production system possible within two or three years, reports Pickard. The nearby Jupiter field has gas reserves to rival Tupi.
None of this is a secret! Both privately owned U.S. and foreign national oil companies are going to find more oil and gas.
Neither candidate for President is telling the truth these days because both believe global warming is real and both keep blathering on about alternative energy. The big problem for the rest of us is that you cant pour wind or solar energy into a gas tank.
The U.S. mandate for ethanol as a gasoline additive has already significantly put the worlds food supply in jeopardy, but most Americans are blissfully unaware that it requires 1.5 gallons of ethanol to produce the same energy as a gallon of gasoline. It actually emits more carbon dioxide than gasoline. It is an environmental hoax.
The world is afloat an ocean of oil. Meanwhile, the United States continues to rule 85% of its offshore oil off-limits to exploration and extraction. This is occurring while the Chinese prepare to pump oil just offshore of Cuba, a merely 90 miles from Florida. It is occurring while the Russians are looking to plant their flag on potential reserves of subterranean oil in the Arctic.
The next time you hear a politician say we need to be energy independent, ask him or her why Americans cannot have access to the oil reserves known to exist in California, in Alaska, and in many of our other States or off the coastlines of Florida and elsewhere.
Ask them why the fate of the condors and little known species is more important than the family budget of Americans forced to make choices between more food and more gasoline.
Ask them why they continue to claim that global warming is a threat when the entire Earth is now in a decade-old cooling cycle.
Ask them why they insist on blaming investor-owned oil companies whose own reserves are barely four percent of the all the oil that exists worldwide? Ask them how they expect these oil companies to compete in the global marketplace when they threaten to seize their profits.
Energy is the master resource. It determines which nations thrive and which lag behind. For now, America is being ill-served by a Congress that refuses to permit access our own energy resources.
Ask yourself how we have arrived at a point in time when both candidates for President believe in a non-existent global warming and whose proposals offer no practical solution to our current and future energy needs.
Actually, it's cheaper than regular gas, not to mention cleaner. And if people would tune their engines right, would find it provides more power which makes consumption about equal to regular gas. If E85 was readily available, it would enable engines to be built developing much more power and much better fuel efficiency. We will see hybrids using E85 in the very near future.
You are the one peddling ignorance here.
Plus there is the problem of refining capacity, which IS near peak capacity.
Demand is moving no faster than population growth world-wide, and peak argument are hopelessly wrong. Proven reserves are rising faster than demand or use, enough so that known reserves as 10% higher than they were 10 years ago, despite all the use in the meantime. 20% higher with newly recoverable forms, economic at current prices (or even well below them).
I think you’re arguing semantics here. Or perhaps grammar.
“its current price” is referring to oil that is being sold now. Not oil in the ground.
He’s not commenting on the (potential) price of untapped oil. He referring to what would happen to the current market price of oil if more of the untapped (but available) oil was being accessed & produced.
That said, my old trading motto applies: when the public start yammering about ''the price of X is too high (or too low)'', it's time to start looking about for careful ways of fading their 'opinion'. The public -- one way or another, and sooner than later -- are always wrong, and can be (and have been) wrong for quite enormous lengths of time, which of course makes fading them a very useful tactic.
I’m reading plain English; obviously neither of you can, and I can’t help you there. You’re also rude, JasonC. Peddling very bad forum manners.
I’ll be ignoring both of you, and no doubt there will be reason to.
No, you are interpreting what you are reading differently than I am. Kind of pointless to have a discussion if you are going to be that easy to offend.
Maybe I'll just ignore you first. Na, na, na, na, na.
Seriously, lighten up a little. It's just a discussion. Wouldn't be much point in having it if we all agreed on everything to start with.
I have argued much the same thing in defense of industry predictions wrt the Bakken formation in eastern MT/ western ND.
I have heard, but don’t know how reliably, that there is twice as much oil in the US and mid-Canada than the entire mideast.
A few months ago I was in line at the supermarket and there was a fellow in a wheelchair behind me. We talked a bit, and from what he said, I knew he knew what he was talking about and was telling the truth.
He had spent 25 years as a hydraulic engineer - in Prudhoe Bay.
Told me they would come in with samples that looked so pure they were like Wesson oil. And said that he’d be surprised if even now, we’ve taken two percent of what’s there. The place is literally bubbling with oil - and not just ANWR. We’re talking thousands and thousands of square miles of formations, probably hundreds of BILLIONS of barrels.
The shale oil in Colorado which we have no real way to recover it yet is about 2 trillion barrels. Yep, trillion.
"Told me they would come in with samples that looked so pure they were like Wesson oil. And said that hed be surprised if even now, weve taken two percent of whats there. The place is literally bubbling with oil - and not just ANWR. Were talking thousands and thousands of square miles of formations, probably hundreds of BILLIONS of barrels."
I would tend to agree with that too. Every area of Alaska that is suspected to hold oil needs a good seismic survey performed now. They very reason that the USA wanted Alaska was for the natural resources and we have tunred it into a damn no-zone national park.
Have you watched the good pipeline Chaplain in this video?
He convincingly asserts that it’s the IMF/WORLD BANK puppet masters who’ve raised the price deliberately as part of a 30+ year plan . . . BTW, to go to $10/gal
I’ve been wondering . . . why is diesel suddenly more than normal gasoline?
Could it be because that would be an excellent way to raise the prices quickly on everything? And what would the globalists’ goal be in doing that? Trashing the USA economy; trashing the dollar toward . . . what? Amero?
What other aspects of this would feed which of their global government goals?
Asking for brainstorming here . . . for those read-up on such and interested.
Naysayers may be ignored.
Just pure runaway insane, SATANIC TRAITOROUS TREASON at work -
I think this guy would be even more forceful about that issue than you!
A new week. Cheers!
What he is referring to is the cost of extracting untapped oil, which under any circumstances is certainly cheaper than the current price of oil. It may be an “Inconvenient Truth” for you but shale oil and oil sands alone would provide virtually unlimited amounts of usable gasoline even if oil were to drop to $40 per barrel. Sadly for the Chicken Little's of the world we are not running out of oil. This, like other economic crises of the last one hundred years is caused solely by politicians, not speculators, not “big oil” and not by the commodities markets.
There is no call to tar me as a Gorebalist.
the cost of extracting untapped oil, which under any circumstances is certainly cheaper than the current price of oil.
Do circumstances like politicians have no effect? You mention
This, like other economic crises of the last one hundred years is caused solely by politicians
yet you don't factor it into the price of extracting presently untapped oil. (By which I presume you mean oil in presently untapped fields.)
If politicians run true to form, which is about all they're true to, the price of oil in ANWR and everywhere else in America's reach will remain "prohibitively" high, until hell freezes and the Chinese deplete the offshore fields under our noses. Might as well put a price on lunar crude.
As a matter of fact, if the price of oil in fields now off-limits is to be tagged to anything, I'd say we could tag it to the price of a seat in Congress.
Futures contracts are actually linked to reality, a contract for million dollar an ounce gold is only good for wall paper. It does not make it worth a million bucks to own a contract from someone agreeing to sell it to you for a million bucks a month from now. To pretend that your rich because you can purchase a contract for a million and a half an ounce gold later is what is loony. Just because you can next month buy worse contracts does not perpetuate the madness.
For example, if you insist, I will be willing to sell you a contract for a 2000 dollar a barrel oil due next month for 100 dollars. I will provide for you a barrel of oil for 2000 dollars at months end.
You will have driven the price of oil up to 2000 a barrel for about a micro second when you signed the contract to buy it for that at months end. But at months end, when you try to sell that contract for 2000 and 1 bucks (to make a profit) to someone else and Saudi is selling oil at at 150 bucks a barrel, you might just run into a problem finding a buyer. You either sell the contract, pay me the two grand and take delivery of a barrel or retire the paper as worthless and walk away with your 100 buck loss.
I, as the holder of your paper, will pocket the contract cost you paid and only wish you were willing to exercise the contract and make me 2000 -150 bucks richer. I will if you insist, honor the contract by buying the barrel from the Saudi’s for 150 bucks and deliver it to you for two grand plus shipping.
Or, as is the way of people that speculate BEYOND WHAT THE MARKET WILL ACTUALLY BEAR, you will be force to default on the contract and not throw good money after bad. (I of course, either way, still get to keep what you paid for the worthless contract in the first place.
You said "When the front-month contract is about to expire (actually 2-3 weeks in front of that date), I sell it back and buy the same or more crude futures in a month further out."
You could do that, but as you, like everyone else are buying/selling from a broker, I can promise you that the stupid guy is not him. He is not going to buy back that bad contract with less time for as much or more than you paid for it from him in the first place. The contract will be posted on the exchange as worth very much less than it was rated two weeks ago. You don't just walk on the exchange floor and say "Hey guys, I got a contract for sale, any buyers for twice the rated value?
I don't know/care how rich you are, but on a highly margined account like futures, I suspect that following your strategy would turn a billionaire into a millionaire pretty fast. When you plunk down your contract for x and the price runs away from you you WILL get a margin call for +x from your broker once it grows beyond your credit line.
For those not in the know; With the margins of futures contracts, which work out as a dollar multiplier, you plunk down your dollar and control fifty bucks worth of x. You win a buck, its great, your account is now worth Forty Nine Bucks. You loose a dime, and your broker calls you on the phone and says, deposit five more bucks today or I close your account.
I shudder to think of your problems if you loose instead of gain that buck. For a buck, you lost fifty one, and with a 1500 buck contract at a fifty to one margin on a thousand barrels You will end up having to mortgage your house to make the margin call. How long do you think you are going to last loosing on 1000 barrel contracts month after month? Not even Bill Gates can keep that up for long.
Speculators only win when at the end of the month they speculated right, they LOOSE when they GUESS WRONG. (Go figure). And guess what, when you run out of cash to pour into your sinking account, your Broker Will stop answering the phone. That is, once you have made your final margin call...
There is no win/win market, or we would all be trillion-airs... Speculators cause high prices like flys cause garbage.
We are not fighting to lower oil prices in Iraq, but fighting Jihadi. Heck, fighing a war in an oil field can only raise the price...
Blood for oil is a catchy phrase, but is the reverse true? Did they blow up the World Trade Center to give us oil?
If we are fighting for oil, why did they bomb NY City? They said Jihad. To kill us all.
Is it a war for oil, or for survival.
I suspect we better figure that out soon, or we might find our selves making some stupid decisions.
IN RESPONSE to the good Chaplain's lecture here:
And my comments about it given the different confirmations I've had on the Chaplain's assertions . . . some poorly informed folks still claim that those of us who are a great deal MORE informed than they are--that we are the clueless ones.
The following MAY help inform those who still have ears to hear and eyes to see. Sorry, I don't have any more time or energy to fix the minor html/formatting glitches. It's readable. I think most of the remaining glitches are dates of publications that were split because my wildcard replacements didn't work as planned--Quix
BTW, this is an END TIMES ping list ping. Please let me know if you want on or off the list.
Here's a list of historic comments on that score. Its one of the best Ive seen in 43 years of studying such. You may want to copy it off and file it for those in your social network still willfully ignorant about such realities of the socialists/Marxists/globalists and their traitorous, treasonous goals, efforts and strategies:
I posted this deliberately embedded in a thread instead of its own thread. It seems wiser given all the givens.
I have highlighted some of the more telling to outrageous admissions between lines like this sentence.
'New World Order' Quotes of Note
Here is some interesting and very important info on the term "The New World Order." I just copied this info from books and pamphlets and news articles already published, so this is nothing original except that it is a list of New World Order quotes listed chronologically. I think it has a good impact shown this way. I have also shown the source for verification.
[SOURCE DOCS AUTHOR/EDITOR]
When Pres Bush (Sr) started using the term during his administration, one was led to believe that he or his advisor made up the term.
"One August 19**89 morning in Kennebunkport, Maine, Pres Bush (Sr) took his national security adviser, Brent Scowcroft, for a ride on the presidential speed boat, Fidelity. Four hours later, the president came ashore with a ringing slogan that Scowcroft had offered: "The New World Order" Ever since, the goal of a "new world order" has been the theme of Bush's Foreign policy pronouncements.----LA Times Feb 24, 19**91
But this term has actually been used for generations by individuals seeking one-world socialist rule.
Here are many references to the term (not a complete study) that refute any claim that it originated with Bush and also prove that it is a well-used term over many decades to indicate that it meant a socialist world government. I have also included some other references that I thought were pertinent.
- Nov 27, Columbia University president Nicholas Murray Butler (on the executive committee of the Carnegie Endowment for International Peace) delivered an address, "A New World Order is Being Born" to the Union League of Philadelphia in which he stated: "The old world order changed when this war storm broke--the old world order died with the setting of the day's sun and a New World Order is being born while I speak."
- Charles R. Van Hise, Pres. University of Wisconsin, delivers an address to the Wisconsin State Convention of The League to Enforce Peace. The title of the address is: "The Foundation of a New World Order" in which he says: "The world has become one body, and no great member of it can proceed independently of the other members. They must act together; and this is possible only through formal treaty covenants."
1919 - The January edition of International Conciliation (connected with the Carnegie organization) focuses upon "A League of Nations." A cover letter sent, with this edition of the journal, begins with these words: "The peace conference has assembled. It will make the most momentous decisions in history, and upon these decisions will rest the stability of the new world order and the future peace of the world."
- A book entitled The New World Order by Samuel Zane Batten is published by the American Baptist Publication Society. In this book, Batten declares: "The old order passes from view, the new world rises upon our vision....We have vindicated the right of social control.....There must be developed a national spirit of service....Society must break the stranglehold of capitalism....The natural resources of the nation must be socialized....The state must socialize every group....Men must learn to have a world patriotism. World patriotism must be a faith....
There is no more justice for the claim of absolute sovereignty on the part of a nation than on the part of an individual....The only alternative is World Federation....with a world parliament, and international court, and an international police force....Men must have an international mind before there can be a world federation. Th
[QUIX: TRAITOROUS SOCIALIST EGOTISTS HAVE BEEN AROUND A LONG TIME. Actually, some say 400 years]
- A book entitled The New World Order (International Organization, International Law, International Cooperation) by Frederick Charles Hicks Doubleday 19**20. He is law librarian of Columbia University, and in this book he suggests that among the most powerful few of the Great Powers, the example must be set to "cooperate, here and there, piece by piece, in limiting the exercise of their sovereign rights."
- The Christian Science Monitor (August 8) quoted from an address to the World Federation of Education Associations (WFEA) by Dr. Augustus Thomas (commissioner of education for Maine) at their Toronto congress: "If there are those who think we are to jump immediately into a new world order, actuated by complete understanding and brotherly love, they are doomed to disappointment." He says the world must go through a long process of education
"...until the cobwebs of the old order are brushed out of the minds of the people of all lands."
- A book entitled The Open Conspiracy: Blue Prints for a World Revolution by socialist H. G. Wells is published.
He declares that "..The political world of the Open Conspiracy must weaken, efface, incorporate and supersede existing governments....The Open Conspiracy is the natural inheritor of socialist and communist enthusiasms, it may be in control of Moscow before it is in control of New York...."
- Historian Arnold Toynbee delivers a speech to the Institute for the Study of International Affairs at Copenhagen in which he explains:
"We are at present working discreetly with all our might to wrest this mysterious force called sovereignty out of the clutches of the local nation states of the world. All the time we are denying with our lips what we are doing with our hands,
because to impugn the sovereignty of the local nation states of the world is still a heresy for which a statesman or publicist can perhaps not quite be burned at the stake but certainly be ostracized or discredited." --International Affairs (journal of the Royal Institute of International Affairs, i.e. the British version of the Council on Foreign Relations) Nov 19**31, "The Trend of International Affairs Wince the War"
[Quix: I didn't know Toynbee was a globalist before, or forgot it]
- Experiment In Autobiography by H. G. Wells is published in which he states: "The organization of this that I call the Open Conspiracy....
which will ultimately supply teaching, coercive and directive public services to the whole world, is the immediate task before all rationale people...A planned world-state is appearing at a thousand points....Plans for political synthesis seem to grow bolder and more extensive....There must be a common faith and law for mankind....The main battle is an educational battle.
- A book entitled, The New World Order by H.G. Wells, in which Wells claims:
"It is the system of nationalist individualism that has to go....We are living in the end of the sovereign states....In the great struggle to evoke a Westernized World Socialism, contemporary governments may vanish....Countless people...will hate the new world order....and will die protesting against it."
[GRRRRRRR . . . NOW THEY ARE PLANNING on assisting the dying . . . down to 200-500 million global citizens]
- A Book World Order (Civitas Dei) by Lionel Curtis is published. This 985 page volume will be called the foundation of all thought on the design of a new order.
It examines human society and concludes that a working system must mean the organization of all human society into one commonwealth.
1942 - In The Philadelphia Inquirer (June 18), reporter William Murphy, Jr. wrote that on June 17, "Undersecretary of State, Sumner Welles called for the early creation of an international organization....the setting up of a new world order on a permanent basis."
- July: The CFR's Foreign Affairs publishes "A New World Takes Shape" by Sir Harold Butler in which he asks: "How far can the life of nations, which for centuries have thought of themselves as distinct and unique, be merged with the life of other nations?
How far are they prepared to sacrifice a part of their sovereignty without which there can be no effective economic or political union?....
Out of the prevailing confusion a new world is taking shape...which may point the way toward the new order."
1948 - UNESCO: Its Purpose and Its Philosophy by Fabian Socialist Sir Julian Huxley is published
in which he proclaims that UNESCO "...In its education program it can stress the ultimate need for world political unity and familiarize all peoples with the implications of the transfer of full sovereignty from separate nations to a world organization..."
[QX: Yes, Disney's IT'S A SMALL SMALL WORLD is part of the propaganda]
1949 - April: United Nations World magazine publishes an article by Ambassador Warren Austin, chief of the U.S. Mission to the UN, in which he pronounces that
"....World government could not be accepted without radical change of national outlook.... It will take a long time to prepare peoples and governments of most nations for acceptance of and participation in a world government....
If we expect this future world government to be created by agreement and not by force or conquest, we will have to be willing to work patiently until peoples or governments are ready for it....
- Towards World Understanding, vol. V, is published by UNESCO, and in this volume one reads:
"As long as the child breathes the poisoned air of nationalism, education in world-mindedness can produce only rather precarious results....
For the moment, it is sufficient to note that it is most frequently in the family that the children are infected with nationalism by hearing what is national extolled and what is foreign disparaged....The activity of the school cannot bring about the desired result unless, repudiating every form of nationalism..."
[QX: GRRRRRR LONG LIVE HOME SCHOOLERS! GOD PROTECT THEM!]
1949 - The New World Order by communist Scott Nearing is published, in which he projects that "the one world of technology must become one world also economically and politically....
Such objectives will be achieved most easily through a science of social engineering."
1951 - July 24: The Chicago Tribune publishes a front page news article titled " 'Global' Flag Gen. Ike's Aim, Says Senator," which begins with the words: "Gen. Eisenhower is working for an allied army under a single flag, uniform, and command to defend Western Europe, senators reported today on their return from an overseas inspection trip."
1951 - July 31: The Chicago Tribune publishes an article, "OWI (office of war information) Propaganda machine Linked to Rhodes (Rhodes scholars) Men," stating: "Those who absorbed the Elmer Davis(Rhodes scholar and head of OWI), Office of War Information training have pushed the British concept of policing the world with American soldiers and economic aid
and have fought for a world federation under which the United States would surrender its sovereignty."
[ED I think] About 40 years later, American soldiers will be stationed in many nations around the world as part of UN peacekeeping missions.
- The Impact of Science on Society by Fabian Socialist Bertrand Russell is published in which he declares: " I think the subject which will be of most importance politically is mass psychology....Various results will soon be arrived at: that the influence of home is obstructive....although this science will be diligently studied, it will be rigidly confined to the governing class. The populace will not be allowed to know how its convictions were generated. When the technique has been perfected, every government that has been in charge of education for a generation will be able to control its subjects securely without the need of armies or policemen....Educational propaganda, with government help, could achieve this result in a generation. There are, however, two powerful forces opposed to such a policy: one is religion; the other is nationalism....A scientific world society cannot be stable unless there is a world government.
- In Arthur Schlesinger, Jr.'s The Coming of the New Deal he quotes Machiavelli at the front of the book saying, "There is nothing...more dangerous to handle, than to initiate a new order of things." And at the end of the book, he quotes Fabian Socialist H.G. Wells describing FDR as: "The most effective transmitting instrument possible for the coming of the new world order....He is continuously revolutionary in the new way without ever provoking a stark revolutionary crisis."
1959 - The West in Crisis by James Warburg is published, in which he proclaims that: "...a world order without world law is an anachronism....A world which fails to establish the rule of law over the nation-states cannot long continue to exist. We are living in a perilous period of transition from the era of the fully sovereign nation-state to the era of world government." James Warburg is a CFR member and founder of United World Federalists. He is also the son of Paul Warburg, an architect of the Federal Reserve.
1960 - The United States in the World Arena by Walt Rostow (CFR) is published. In the book he declares: "It is a legitimate American objective to see removed from all nations--including the United States--the right to use substantial military force to pursue their own interest. Since this residual right is the root of national sovereignty and the basis for the existence of an international arena of power, it is, therefore, an American interest to see an end to nationhood as it had been historically defined."
1961 - Sept, State Department document 7277 titled, "Freedom From War: The U.S. Program for General and Complete disarmament in a Peaceful World" is published. Pres Kennedy delivers this to the UN on Sept 25. This document provides that the United States will disarm along with other countries so that the UN becomes the unchallengeable World power....disarmament "would proceed to a point where no state would have the military power to challenge the progressively strengthened UN Peace Force." This transition is still going on today.
1962 - March 10 State Department Study Memorandum No. 7, "A World Effectively Controlled by the United Nations, " written by CFR member Lincoln Bloomfield, in which he states: "A world effectively controlled by the United Nations is one in which "world government" would come about through the establishment of supranational institutions, characterized by mandatory universal membership and some ability to employ physical force....(But) if the communist dynamic was greatly abated, the West might lose whatever incentive it has for world government" [EDITOR, I THINK] It looks as if now the "communist menace" has been replaced by the "terrorist menace". And of course they can switch back to the communist menace or any other kind of menace whenever they want to.
1962 - A lecture given by CFR member Nelson Rockefeller at Harvard University in which he says that there is"...a new and free order struggling to be born....(There is a )fever of nationalism....(but) the nation-state is becoming less and less competent to perform its international political tasks....These are some of the reasons pressing us to lead vigorously toward the true building of a new world order....(with)voluntary service...Sooner perhaps than we may realize,....there will evolve the bases for a federal structure of the free world."
1967 - March 26: Pope Paul VI writes Populorum Progressio and states: "Who can fail to see the need and importance of thus gradually coming to the establishment of a world authority capable of taking effective action on the juridical and political planes? Delegates to international organizations, public officials, gentlemen of the press, teachers and educators--all of you must realize that you have your part to play in the construction of a new world order.
1967 - Richard Nixon writing in The CFR periodical Foreign Affairs Oct 19**67 "....and to evolve regional approaches to development needs and to the evolution of a new world order."
1968 - The Subtle and Leisurely Penetration, a reference report from the George Mason School of Correspondence, is published by Education Information, Inc., of Sacramento, CA. It mentions that the thirty-two Americans to be Rhodes Scholars this year have been selected, and then states: "The stated objectives of Cecil John Rhodes and his friend, Sir Andrew Carnegie, included the reduction of the United States to a colony of the New World Order."
1968 - October: In this edition of the CFR's Foreign Affairs is an article, "Asia After Vietnam," by Richard Nixon (CFR member 19**61-19**65), in which he writes of nations' disposition "to evolve regional approaches to development needs and to the evolution of a new world order."
1968 - Gov Nelson Rockefeller from Deseret News July 26, 19**68, Salt Lake City, Utah pg 2A...."New York Gov Nelson A. Rockefeller says as president he would work toward international creation of "a new world order...."
1970 - Between Two Ages: America's Role in the Technetronic Era by Zbigniew Brzezinski is published. He is a CFR member who will become the first director of the Trilateral Commission and President Carter's national security advisor. In this book he states: "Marxism represents a further vital and creative stage in the maturing of man's universal vision. Marxism is simultaneously a victory of the external, active man over the inner, passive man and a victory of reason over belief.....Human beings become increasingly manipulable and malleable...Today we are again witnessing the emergence of transnational elites....whose ties cut across national boundaries....The nation-state is gradually yielding its sovereignty....Further progress will require greater American sacrifices. More intensive efforts to shape a new world monetary structure will have to be undertaken.
1971 - Richard Nixon(CFR) quoted by James Reston(CFR) in Boston Herald Traveller May 21, ......"Aside from politics, Nixon would obviously like to preside over the creation of a new world order,....."
1972 - Pres Nixon's speech giving in Peking from UPI 2-25-72......."and the hope that each of us has to build a new world order....."
1973 - August 10: The New York Times publishes "From a China Traveller" by David Rockefeller, who writes about Communist China: "One is impressed immediately by the sense of national harmony....There is a very real and pervasive dedication to chairman Mao and Maoist principles. Whatever the price of the Chinese Revolution, it has obviously succeeded not only in producing more efficient and dedicated administration, but also in fostering high morale and community purpose. General social and economic progress is no less impressive....The enormous social advances of China have benefited greatly from the singleness of ideology and purpose....The social experiment in China under Chairman Mao's leadership is one of the most important and successful in history."
[QX: TRAITOROUS CLUELESS EGOTIST. Mao made a huge mess of things and cost 30 million Chinese their lives needlessly]
1974 - Richard N. Gardner writing in Foreign Affairs (CFR) April 19**74 Article entitled The Hard Road to World Order, "In short, the "house of world order: will have to be built from the bottom up rather than from the top down. It will look like a great "booming, buzzing confusion," .......but an end run around national sovereignty, eroding it piece by piece, will accomplish much more than the old-fashioned frontal assault."
1975 - James Reston Sunday Herald Advertiser , Boston Aug 3, 19**75......"the spirit of Glassboro under President Johnson was that the big powers should forget the past and work together for a new world order...."
197575 - A Declaration of INTERdependence by Henry Steele Commager Oct 24, 19**75......."Two centuries ago our forefathers brought forth a new nation; now we must join with others to bring forth a new world order.. .."
1976 - The Freeman Digest (Jan 79) will publish an interview with Joseph Slater, president of the Aspen Institute for Humanistic Studies, in which he will respond to the question about "the new world order" as follows: "Whatever system is constructed, many people feel that the new global community will be monolithic; that is why the words "new world order" tend to connote a sort of 19**84 Orwellian kind of notion where there is some master system...."
197 - The Third Try at World Order by Harlan Cleveland, CFR member is published. He calls for "changing Americans' attitudes and institutions"; for "complete disarmament (except for international soldiers)"; for "fairer distribution of worldly goods through a new International Economic Order"; and for "international standard for individual entitlement to food, health and education."
1977 - July: The Atlantic Monthly publishes "The Trilateral Connection" by former Washington Post columnist Jeremiah Novak, in which he states: "For the third time in this century, a group of American scholars, businessmen, and government officials is planning to fashion a New World Order."
1979 - Fidel Castro, Associated Press Oct 12 19**79 at the United Nations. "Fidel Castro finger waving in the air and angry fist thumping the lectern, demanded a "new world order" and dressed down the United States today for "aggressive" and "exploitative" policies around the world."
1982 - "Just as there must come a new world economic order, there must come a new world communication order.....It will take time, but it must come." Christian Century April 14, 19**82 p. 442, by William F. Fore.
1986 - Regarding "the establishment" of which George Bush was a member, a book was written about some of its leaders and was titled The Wise Men (19**86). It was co-authored by Rhodes Scholar, CFR member, and a Time editor, Walter isaacson, who described how 6 leaders "shaped a new world order," were internationalists, and had a "common outlook." One of them, Chip Bohlen, was quoted as saying about socialism: "maybe that is the road we ought to go down." Also in the book one reads that Arthur Schlesinger, Jr. in 19**65 wrote: "The New York financial and legal community was the heart of the American establishment....its front organizations, the Rockefeller, Ford and Carnegie foundations and the Council on Foreign Relations."
1988 - George Bush would run for the presidency of the United States in 19**88, and on Feb 10, The Washington Post quoted David Rockefeller as remarking that "He's (Bush) one of us ('the establishment')....If he were president, he would be in a better position than anyone else to pull together the people in the country who believe that we are in fact living in one world and have to act that way."
1988 - Mikhail Gorbachev speaking at UN , The Boston Globe Dec 8 19**88 "....He called for a "new world order" founded not on force but on dialogue......."
1989 - President Bush gave the commencement address at Texas A & M University on May 12, he which he stated "Ultimately, our objective is to welcome the Soviet Union back into the world order....Perhaps the world order of the future will truly be a family of nations." --Arizona Daily Star, May 12.
1990 - Mikhail Gorbachev quoted in Washington Post Feb 25 19**90 "...A new world order is taking shape so fast that governments are well as private citizens find it difficult just to absorb the gallop of events....."
1990 - Mikhail Gorbachev speaking at Stanford University quoted by Sentinel wire services Jun 5 19**90 "Saying the world should not debate who won the Cold War, Soviet President Mikhail S. Gorbachev called Monday for the United states and Soviet Union to be partners in building "a new world order"...."Tolerance is the alpha and omega of a new world order"....
1991 - May 18 Valley Times, Pleasanton, CA an article entitled "Shevardnadze touts U.N.", staff writer Jeanie R. Wakeland writes about a speech in San Francisco sponsored by the World Affairs Council: "Shevardnadze said the United nations cannot do anything if its decisions aren't carried out by all members. nations can be made to feel they 'lose' if they go against a U.N. position, Shevardnadze said. 'If we can rely on the (U.N.) position, we can build on this for a new world order."
1991 - Associated Press June 6, Oslo, Norway: "Mikhail Gorbachev said yesterday in his Nobel Peace lecture that Western failure to heed his call for economic aid could dash hopes for a peaceful new world order.....'To me, it is self-evident that if Soviet perestroika succeeds, there will be a real chance of building a new world order.' "
President Bush (SR) quotes on new world order and United nations:
"Time and again in this century, the political map of the world was transformed. And in each instance, a new world order came about through the advent of a new tyrant or the outbreak of a bloody global war, or its end." Feb 28, 19**90---this quote is six months before Iraq's invasion of Kuwait in August.
"Out of these troubled times, our fifth objective--a new world order--can emerge...... We are now in sight of a United Nations that performs as envisioned by its founders." --Sep 11 1990
Pres Bush delivers an address to Congress titled "Toward a New World Order," regarding the crisis in the Persian Gulf after Iraq invaded Kuwait in August. He will follow this with and October 1 address to the U.N., in which he will speak of the "collective strength of the world community expressed by the U.N....a historic movement towards a new world order."
"I think what's at stake here is the new world order....a reinvigorated United Nations." -Jan 7 19**91
"(The Gulf crisis) has to do with a new world order. And that world order is only going to be enhanced if this newly activated peacekeeping function of the United nations proves to be effective." -Jan 9 19**91
"When we are successful, and we will be, we have a real chance at this new world order, an order in which a credible United Nations can use its peacekeeping role to fulfill the promise and vision of the UN's founders." -Jan 16 19**91
A quote from an invitation sent to Republican contributors throughout the United Stated in May 19**91: "Now, our President faces greater tasks. And he must have help from like-minded men and women in the U.S. House of Representatives and the U.S. Senate who can help him establish the "new world order" he seeks."
19**92 - July 20 Time magazine published "The Birth of the Global Nation" by Strobe Talbott (Rhodes scholar roommate of Bill Clinton at Oxford University, CFR director, Carnegie Endowment for International Peace board of directors member, and Trilateralist from a wealthy Ohio investment banking family), in which he writes: All countries are basically social arrangements....No matter how permanent or even sacred they may seem at any one time, in fact they are all artificial and temporary....Perhaps national sovereignty wasn't such a great idea after all....But it has taken the events in our own wondrous and terrible century to clinch the case for world government."
1992 - August 26: The New York Times publishes "The World Needs an Army on Call" by U.S. Senator David Boren (Rhodes Scholar 19**63, CFR member, and member of "Skull and Bones") in which he states: "In the aftermath of World War II, President Truman wanted to empower the United Nations to create a new world order....Richard Gardner proposes that forty to fifty member nations contribute to a rapid-deployment force of one hundred thousand volunteers that could train under common leadership....It is time for us to create such a force....The existence of such a force would go a long way toward making the "new world order" more than just a slogan."
1993 - Jan 13: Confirmation hearings are held for CFR member Warren Christopher's nomination to be Secretary of State. He and Senator Joseph Biden discuss the possibility of NATO becoming a peacekeeping surrogate for the U.N. "to foster the creation of a new world order." That is just what happened in Bosnia.
[QX: Which is one reason, evidently, that Ron Brown had to dieto protect Dilldo Klintoon and the NWO Bosnian effort]
1993 - April 21: General Colin Powell receives the United Nations Association-USA's Global Leadership Award, and he remarks: "The United Nations will spearhead our efforts to manage the new conflicts (that afflict our world)....Yes the principles of the United Nations Charter are worth our lives, our fortunes, and our sacred honor." [ED:] !!!!!????? [Qx: WHAT A BLASPHEMOUSLY CHEEKY TRAITOROUS USE OF OUR FOUNDING FATHERS WORDS! GRRR]
1993 - May 4: New CFR president Leslie Gelb (formerly and editor at The New York Times ) says on "The Charlie Rose Show" that "...you(Charlie Rose) had me on (before) to talk about the new world order....I talk about it all the time....It's one world now...."
1993 - June 22. In case there is any doubt about whether President Clinton(CFR) supports world government, on this date he signs a letter to the World Federalist Association congratulating Strobe Talbott(CFR) on receiving (june 24) the WFA's first "Norman Cousins Global Governance Award." The WFA is a leading force for world federal government. Clinton's letter states: "Norman Cousins worked for world peace and world government...Strobe Talbott's lifetime achievements as a voice for global harmony have earned him this recognition....He will be a worthy recipient of the Norman Cousins Global Governance Award. Best wishes....for future success."
1993 - July 18: CFR member and Trilateralist Henry Kissinger writes in The Los Angeles Times concerning NAFTA: "What Congress will have before it is not a conventional trade agreement but the architecture of a new international system....a first step toward a new world order."
1993 - September 9: Concerning whether U.S. troops should remain in Somalia as part of a U.N. operation, General Colin Powell, chairman of the Joint Chiefs of Staff, says that a pullout would be "devastating to our hopes for the new world order and our ability to participate in multinational organizations to deal with problems like this."
1993 - W. Scott Thompson (Rhodes Scholar 19**63-66) writes "Conflict and Conflict Resolution: On to the Twenty-First Century" for the federal United Stated Institute of Peace, of which he is a board member appointed by President Reagan in 19**86. In this article, Thompson writes about "a positive factor: the greater reliance on (and opportunity for) the United Nations to resolve perennial conflicts....In addition to a strengthened U.N., a New World Order requires understandings and divisions of labor among like-minded friends across the globe." .
1994 - World Federalist Association will publish The Genius of Federation: Why World Federation Is the Answer to Global Problems, which will state: "Let the U.N. establish new agencies such as an International Criminal Court....National sovereignty would be gradually eroded until it is no longer an issue. Eventually a world federation can be formally adopted with little resistance."
1994 - April 14: Americans are killed as a result of a "friendly fire" attack while patrolling over Iraq, and Vice-President Al Gore will refer to them as "those who died in the service of the United Nations." [ED:] !!!!!?????
1994 - May 3: President Clinton signs Presidential Decision Directive 25, which strengthens the U.N. and describes how American soldiers will serve under foreign commanders. PDD25 will only be released to top administration officials and a few member of Congress, the general public is refused access.
1994 - the McAlvany Intelligence Advisor March 19**95 quotes Vladimir Zhirinovsky on Nov 9 at a press conference at the U.N. said, "There has long been a hidden agenda to merge America and Russia under the New World Order."
1995 - Jan 27: Billionaire financier George Soros at the World Economic Forum at Davos, Switzerland, says the world needs a "new world order," and he further warns: "I am here to alert you that we are entering a period of world disorder."
1995 - July/August: In the CFR's Foreign Affairs, prominent CFR member Arthur Schlesinger, Jr. exclaims: "We are not going to achieve a new world order without paying for it in blood as well as in words and money."
1995 - The report, "Our Global Neighborhood," by The Commission on Global Governance (partly funded by the U.N. Development Program and endorsed by the U.N. Secretary-General) is released, and states: "A new world order must be organized....Global governance is the way we manage global affairs....nations have to accept that in certain fields, sovereignty has to be exercised collectively....We need to accept that there may be circumstances within countries when the security of people is so severely violated that external intervention becomes justified. We propose that the U.N. Charter be amended to permit intervention in such circumstances....We believe that there is a need for a highly trained U.N. Volunteer (military) Force....Accelerated progress must be made toward demilitarizing the international society...We strongly endorse community initiatives to ...encourage the disarming of civilians....The inadequacies . . .
1996 - Jan 24: U.S. Army Specialist Michael New is convicted at a court-martial on a charge of refusing an order to wear a U.N. insignia.
1996 - A Reporter's Life by Walter Cronkite is published, in which he proclaims: " if we are to avoid catastrophe, a system of world order--preferably a system of world government --is mandatory. The proud nations someday will ....yield up their precious sovereignty."
1996 - May 11 Journalist Joan Veon interviews David C. Korten, author of When Corporations Rule the World (19**95) and former Ford Foundation project specialist in Manila. In this interview, Korten claims that: "the World Trade Organization is creating a world government in which one organization which is totally unelected, wholly secretive....with the power to virtually override any local or national laws if those in any way inconvenience global corporations....It was a terrible shock (to those of us who supported Bill Clinton) when Clinton came in and GATT and NAFTA became the centerpieces of his policy....And in a sense, there was almost a seamless transition from President Bush to President Clinton in that regard....Our democracy has been rendered meaningless by big money. The truth is there are politicians (who) are owned lock, stock and barrel by the big money interests....Our elections create, to some extent, a facade of choice."
1996 - October 23: On "The Charlie Rose Show" on the Public Broadcasting System, Mikhail Gorbachev states: "We are part of the Cosmos. Cosmos is my God. Nature is my God....The future society will be a totally new civilization which will synthesize the experience of Socialism and Capitalism...."
1998 - May 5: The New York Times publishes "The New World Order" by A. M. Rosenthal, in which he writes: "The U.S., its democratic allies and major dictatorships are rapidly building a new world order....The U.S. gets to sell strategic material to China, offering as an extra a visit by the U.S. President to honor the Communist leaders and expand their power and political life span. Religious and political mavericks in the totalitarian partners of the new world order get prison, or death, often both. The press of the democracies gets to write about the growth of order in the new order. Other citizens of the democracies get to say costs of imported goods are down, how nice. Americans and Europeans may come to object for political or moral reasons, or because the new world order may after all cost . . .
2001 - "There is a chance for the President of the United States to use this (9-11) disaster to carry out ... a new world order." (Gary Hart, at a televised meeting organized by the CFR in Washington, D.C. Sept 14.) SELECTED WARNINGS ABOUT A 'NEW WORLD ORDER' from the founder of The John Birch Society, Robert Welch, and published in the Society's Bulletin:
1972 - May, page 10 "Or, as fellow Insider Mr. James Reston of the New York Times enthusiastically puts it, deliberately using the two-hundred years old language and slogan of the Conspiracy -- 'Mr. Nixon cannot become the head of a new world order (Novus Ordo Seclorum) unless the Communist nations are brought into the world order....' "
1972 - Sept, page 29 "This plan is to establish -- very soon -- the first stages of a 'new world order.' This will be the novus ordo seclorum for which a self-perpetuating inner circle of Conspirators has been working and scheming relentlessly during some six generations...."
1972 - Oct, page 28 "There should be no surprise for longtime readers of the Bulletin....that those plans include the conversion of the United States into a socialist nation....and the merger of that enslaved segment of mankind with other Communist nations into a New World Order. That goal, under that very name -- originally written in bastardized Latin as novus ordo seclorum -- has been envisioned by a Master Conspiracy for the past two hundred years as the ultimate product of all its crimes against humanity, and of all its subversive onslaughts against western civilization."
GOD HAVE MERCY ON US ALL. Walk close to God Almightyour only high tower; our only defense; our only provision; our only peace; our only safety; our only truth.Qx
That’s amazing. Did you research and compile all of that yourself?
No, I just ran across it through ATS.
I thought it was fitting to share.
Quite a list. And I know for a fact that some of the famous people like Ted Turner, Kissenger . . . have said more shocking things publically.
Thanks for your kind reply.
It's usually helpful to know what you're talking about before speaking up. This remarkable sentence is flat wrong in two particulars.
1) The NYMEX Light Sweet Crude and ICE Brent contracts expire, by rule, well before 'month-end'. For example, NYMEX' rule for determining the expiration day of a contract is: ''Trading [in a specific month] terminates at the close of business on the third business day prior to the 25th calendar day of the month preceding the delivery month.'' Further, as to actual delivery, NYMEX rule 200.16(A) states that delivery may be made on ANY day during the delivery month.
2) Over 95% of all crude contracts are NOT settled by delivery, but by offset; that is, the owners of contracts sell them back into the mkt and the shorts repo the contracts previously sold. This is easily verified by CFTC figs at cftc.gov or probably also at nymex.com . If need be, you can call Joann Arena in the NYMEX stats dep't for verification. Very nice woman, very helpful.
I didn't bother reading the rest of your post. Any post that starts off in this fashion rates strongly to be not worth the time. Do try to learn something about futures mkts before next expounding on the subject.
Are you speaking of an EFS transaction?
Need a bit of help here.
BTW, you might be amused by the NYMEX' treatment of EFS trxes. Here's their rule:
200.20A Exchange of Futures for, or in Connection with, Swap Transactions
(A) An exchange of futures for, or in connection with, a swap (EFS) consists of two discrete, but related, transactions; a swap transaction and a futures transaction. At the time such transaction is effected, the buyer and seller of the futures must be the seller and buyer of a quantity of the swap. The swap component shall involve the commodity underlying the futures contract (or any derivative, by-product or related product). The swap component of an EFS transaction must comply with the applicable CFTC swap regulatory requirements.
(B) Except as provided below, an EFS must take place during the hours of futures trading for the Light Sweet Crude Oil futures contract. An EFS is permitted at any time before 2:00 p.m. of the first business day following termination of trading in an expired futures contract, provided, however, that an EFS which establishes a futures position for both the buyer and the seller shall not be permitted on the first business day following the expired contract.
(C) Any Exchange of Futures for, or in Connection with, Swap (EFS) shall be governed by the provisions of Rule 6.21A.
(D) Each buyer and seller must satisfy the Exchange, at its request, that the transaction is a legitimate EFS transaction. All documentary evidence relating to the EFS, including a master swap agreement and any supplements thereto, shall be obtained by the Clearing Members from the buyer or seller and made available by the Clearing Members for examination by the Exchange upon request. Additionally, if the buyer or seller is a Member/Member Firm, the Exchange may obtain the information directly from such persons.
I don’t know what I’m talking about either. Just trying to quote something from the NYMEX web site and pretend I know what it means.
Is the swap only when you change to a related product like from WTI to RBOB?
exchange of futures for or in connection with the product
exchange of futures for, or in connection with, a swap
Swaps are just about completely ''roll-your-own''. There are a number of things NYMEX won't let a swapper do, but this -- trust me -- is just not very hard to get around, as long as one knows a good cash broker. Might cost a bit more than one would like, but virtually any physical swap (as opposed to a paper swap) can find a way to get done.
I'll bet you that Eric in the Ozarks knows all about swaps -- might ask him for more details.
Back in my cash broker days, just about all we did were ''immediates'', no noticeable time lag involved. So, I have to ask you why a contango mkt is so easy to trade, and, would you be kind enough to throw in an example?
The price of oil is set by the buyer not the seller or the speculator.
If all the speculators went away, the price of oil would be set by the buyer still.
In fact, to quote you: "Over 95% of all crude contracts are NOT settled by delivery..."
Indeed, 95% of contracts are canceled before the delivery date, and are sold back into the market before delivery date. Why? Because the bottom line is at each month end, someone actually takes delivery of oil thereby setting the price.
We have to fight this issue with all we have left in our bones not by enjoying our knoledge of the markets and speaking market geek, but by reducing the truth to street language so that the average guy in the street knows what this "Federal Market Regulation" is really all about, his retirement being feed to the political pork machine.
The primary reason the American Stock Exchange is the best in the world is we provide a tax haven for overseas investors. If we let the Demoncratic or RepublicRat rulers control the market, all the foreign cash will flow out of the market like Niagra Falls flows from Canada. Our economy will crash like Nagasaki. The Politicians won't care, they will be extracting a percentage of the flow into their own pockets. In the end, they will all be like Al Gore, preaching Prosperity to Paupers and riding gold plated BMW's...
''Go 'way, little boy, ya baahhhther me.''
The price of anything, you bloody moron, is set by a willing buyer and a willing seller when they agree on a price.
If specs went away from some mkt, entirely, what would happen is that the bid/ask spread in that mkt would widen out considerably, everyone's costs would go up, and there would be considerably fewer transactions in that mkt.
By the time ANYBODY in crude gets delivery, the price is absolutely guaranteed to have changed from both their entry price and the price at contract expiration. There's a lag of 15-45 days between contract expiration and delivery, therefore NEITHER the person making delivery nor the person taking delivery ''sets'' any sort of price whatever.
Take your economically illiterate gradeschool garbage out somewhere and bury it. Don't bother getting a life; get a clue about the operation of mkts somewhere.
Hey, maybe you can buy a clue, and ''set the price''. Jay-zus!
So, you are saying that a speculator cannot set the price? That is the point I was hoping to make. Perhaps you said it better.
You know, you really don't have to be such an asshole to someone to hold a conversation... That clue is free by the way.
The price of anything, you bloody moron, is set by a willing buyer and a willing seller when they agree on a price.
...therefore NEITHER the person making delivery nor the person taking delivery ''sets'' any sort of price whatever.
I concur with that.
My company had a 3D seismic survey done over minerals it was considering selling for $10 an acre.
We leased the land to another company and this little 200 acre Yegua field is generating checks to us in excess of $1 million per month today.
This tired old land position which everyone had discounted as virtually worthless, is generating nearly a quarter of a billion dollars in 2007. It will be higher this year.
NO speculator, or group of same, can ''set'' a price, period. They can, however, over time influence price disproportionately when they are allowed to by current rule, and for MUCH longer than a month at a crack...and so they have done for the past 1.5 years, in energies particularly, and now in grains to a larger than usual extent.
After 36 years of trading these markets, and after 20 years of writing about them, and after seeing -- as I put it in a fairly recent book -- the growing presence of ''moonshiners, mythologists, and morons''. my patience with willfully and provably false statements has declined almost to nil.
You're looking for a villain in bidding up mkts to unjustifiable levels? You've no further to look than the Regress, who, by provisions of the 1986 Tax Reform Act, the Gramm-Whoozis Act of 1999 which effectively repealed Glass-Steagall, and the Commodity Modernization Act of 2001 -- among other legislative bungles -- have allowed what we now call ''index specs'' to prosper at the expense of the entire economy, and every citizen of the US.
''No comment'' is the single most intelligent thing you've written during our conversation. Nicely done!
I have noticed as of late, a lot of discussions around and about oil price crisis. Thats it! Discussions, no concrete proposals as to how we force the Congress to open up the continental US for drilling and/or shale oil recovery., etc,etc.
We need a grass roots movement of regular Joe's to knock the Environmental wackos agenda and force the Congress to LISTEN to the people for a change, not the special interest.
I am not good at this kind of job, PR is not my forte, but I think if we get together and unite under a common cause we can achieve it. Why can we not sue the Environmental Wackos for interfering with "Promote the general Welfare" as stated in the Constitution?
Let's not be just keyboard cowboys/cowgirls and start something that it will make a difference.
FR is a very large forum, with a little perseverance and organization me thinks we can pull it off! It is just a matter of willingness and desire!
WE are better than Kos, DU, Huffington's etc.They are getting away with murder, while we the almighty principled conservatives are taking the high road an do...nothing.
We are getting railroaded day in and day out and what we do?...nothing..."If we WANT to win anything in this race, we should drop this cavalier, "holier than thou" attitude towards politics, take off the gloves and start punching hard!period!
NWO PING to some selected friends from one of my lists.
Please read at least a percentage of the color highlighted quotes at post # 76.
Quotes of political leaders since 1900 re globalism and global government.
Sen. Barack Obama, if elected, intends to seize "windfall profits." This is sufficient reason for American oil companies to decide to drill anywhere else. The last time a windfall profits tax was implemented was at the end of President Carterâs term. It had such a negative impact on U.S. oil companies that drilling for oil domestically dropped dramatically. It has stayed that way since the 1980s... No profits. No exploration. No drilling. And no domestic oil with which to correct our dependence on foreign oil and thus provide a measure of security to a nation that runs on oil.Thanks Quix.
Doesn’t surprise me.
I felt that was their strategy from the beginning of the movement.