[AirlinePilot]

I nearly fell off my chair when I read the statement that "motorists are not using that much gasoline". HAH! Where do these people come from????

Talk about denial! Sheesh.

[joewp]

$this->bbcode_second_pass_quote('AirlinePilot', 'I') nearly fell off my chair when I read the statement that "motorists are not using that much gasoline". HAH! Where do these people come from????

Talk about denial! Sheesh.

[KevO]

$this->bbcode_second_pass_quote('killJOY', '
')That's just my job, it's not who I am. I consider myself more a farmer than anything else, albeit a tiny one.

[PeakingAroundtheCorner]

$this->bbcode_second_pass_quote('', 'G')asoline and oil futures jumped Friday on continued concerns that domestic refineries aren’t producing enough gas to meet peak summer driving demand.

“The market’s realizing that we’re just not seeing enough of a supply build,” said Jim Ritterbusch, president of Ritterbusch & Associates in Galena, Ill.

-snip-

http://www.telegram.com/apps/pbcs.dll/a ... /706030437

[Cobra_Strike]

Cool. *Drops beer in the cooler, places popcorn in the microwave...ready to zap it*

[Gazzatrone]

$this->bbcode_second_pass_quote('Cobra_Strike', 'C')ool. *Drops beer in the cooler, places popcorn in the microwave...ready to zap it*

[Gazzatrone]

$this->bbcode_second_pass_quote('Cobra_Strike', 'C')ool. *Drops beer in the cooler, places popcorn in the microwave...ready to zap it*

[sameu]

a plateau for a couple of years would be nice though
I'm too young to die

[kochevnik]

It has been on a plateau now for a couple of years you boneheads

Two years ago oil was $70 a barrel - now it's $65.

Oooooo Aaaaaaah. Things have changed so much.

NOT.

Here's a secret - after trading commodities for almost a decade now - I have learned that analysts of the sort quoted above don't have a single fucking clue why the market goes up or down.

They just make shit up. And people believe them. I'm not sure who, exactly, is dumber.

[whereagles]

So today, 24 july 07, oil plunges 2-4%. As a "result", stock exchanges all over go down 1-2% as well.

Can anyone explain that? I would think oil/stocks to be anti-correlated, not directly correlated... lol

[Eli]

I can explain it. You are looking too close at the numbers, what is going on cannot be assessed on daily basis.

And it cannot be explained by what is going on in the Stock Market. Right now a lot of what is going on there is being driven by buyouts and borrowed corporate money. Things are being driven up not because there sales look great or they have huge potential for growth, they are going up because someone borrowed money and bought them out.

[mkwin]

Put it this way, Exxon Mobile is worth half a trillion dollars - when it falls it will cause an impact on the entire index.

[Starvid]

$this->bbcode_second_pass_quote('Eli', 'I') can explain it. You are looking too close at the numbers, what is going on cannot be assessed on daily basis.

And it cannot be explained by what is going on in the Stock Market. Right now a lot of what is going on there is being driven by buyouts and borrowed corporate money. Things are being driven up not because there sales look great or they have huge potential for growth, they are going up because someone borrowed money and bought them out.

[benzoil]

I haven't checked the overseas markets, but in the U.S. stocks are down because the geniuses that run the finance sector are slowly waking up to the disaster that is the US housing sector. If anything, I expect that oil prices are falling because these same geniuses expect an economic slowdown as a result.

Just a guess.

[firestarter]

$this->bbcode_second_pass_quote('benzoil', 'I') haven't checked the overseas markets, but in the U.S. stocks are down because the geniuses that run the finance sector are slowly waking up to the disaster that is the US housing sector. If anything, I expect that oil prices are falling because these same geniuses expect an economic slowdown as a result.

Just a guess.

[Cobra_Strike]

Stocks have continued lower all day long...I am not sure people are waking up yet, that could still take months.

[firestarter]

It might take months but Liebig's law of the minimum will ensure it's eventual ugly unwind. Faster than you can shake a leg liquidity is/will evaporate into the thin air it was created out of.

edit:typo

[Eli]

The bigger story that is being talked about now is the fact that the private equity buyout groups are running into a credit crunch.

They were buying out companies with borrowed money just like a Californians were buying up that 950 sq. foot fixer upper.

This is the credit crunch contagion spreading.

[Cynus]

I thought that it would be just financials and homebuilders that would be hurt by the housing bubble, but my energy investments are taking a beating lately (luckily I bought a number of ETFs that short financials, housing, and the S&P and that has helped a lot). I suppose the assumption is that a recession will reduce the demand for energy. So, what are we PO-aware types doing with our energy investments in light of the recent turmoil?