[emersonbiggins]

DP, that's a good take on it. It wouldn't surprise me to see such things pass, though. The jawboning over the last few years seems to be transitioning into something a little more substantive.

[chuck6877]

$this->bbcode_second_pass_quote('dohboi', 'W')ell, I guess that's the end of our big correction or contraction or whatever you want to call it. In a couple days people will be getting all excited if oil "plunges" down to $135 again. The "dips" will keep happening, but they seem to be getting shallower and shorter.

[dunewalker]

I think that an attack on Iran would very soon be followed by a declaration of martial law in the U.S., due to the subsequent events.

[chuck6877]

Shannymara,

The Olympics begin August 8th.

Doesn't it make sense to attack Iran now if you're a neocon?

China doesn't want to get involved while they're having to host the Olympics. They are Iran's greatest allie except for Russia.

Even Russia's hands might be tied.

Chuck

[IndigoMoon]

$this->bbcode_second_pass_quote('Shannymara', 'W')hen are the Olympics?

[chuck6877]

$this->bbcode_second_pass_quote('dunewalker', 'I') think that an attack on Iran would very soon be followed by a declaration of martial law in the U.S., due to the subsequent events.

[TheDude]

$10+ gain in a single freakin' day!

"When Black Friday comes
I'll stand down by the door
And catch the grey men when they
Dive from the fourteenth floor
When Black Friday comes
I'll collect everything I'm owed
And before my friends find out
I'll be on the road
When Black Friday falls you know it's got to be
Don't let it fall on me"

YouTube - Steely Dan - " Black Friday "

[Armageddon]

$this->bbcode_second_pass_quote('dunewalker', 'I') think that an attack on Iran would very soon be followed by a declaration of martial law in the U.S., due to the subsequent events.

[dorlomin]

Some mood music for the day folks? (perhaps more for the younger members.) From a group with a big link to the Oil Drum on there web site....


House of Cards - radi0head


Love the lyrics "...denial, denial, infrastructure will collapse with voltage spikes....."

[vision-master]

$this->bbcode_second_pass_quote('', 'A')ctually, I don't think the oil markets - at least here in the US - will be open if Iran is attacked. We may move to substantial US government control of the entire oil market and product distrubution system rather rapidly with supply disruptions in the ME. There will be shortages and the SPR oil can't be distributed across the entire country.

[peak]

Market is down huge today

dow is down 370 right now almost 3%

[Arsenal]

$this->bbcode_second_pass_quote('', '
')I would think the SPR would be used for "essential services" and the military only. Razz

[DantesPeak]

$this->bbcode_second_pass_quote('vision-master', '')$this->bbcode_second_pass_quote('', 'A')ctually, I don't think the oil markets - at least here in the US - will be open if Iran is attacked. We may move to substantial US government control of the entire oil market and product distrubution system rather rapidly with supply disruptions in the ME. There will be shortages and the SPR oil can't be distributed across the entire country.

[Niagara]

Lots to talk about this weekend over the backyard BBQs

-$139 oil

-DOW 400 point haircut

Interestingly, my friends who thought I was cuckoo 2 years ago aren't laughing at me anymore. Imagine that.

[Forney2008]

WE BETTER PRAY TO THE WEATHER GODS THAT NO HURRICANE EVEN ENTERS THE GULF OF MEXICO THIS SUMMER, YET ALONE HITS A MAJOR REFINERY OR WE ARE TOAST!!![b]

[ohanian]

my prediction back in 2006 wasn't that far off

by the way I'm not predicting that oil will fall back to $20

it's just that my model falls apart after year 2009

[emersonbiggins]

Ohanian - thanks for the clarification. I thought the upper bounds of your Y-scale was about $1,000 too low.

[vision-master]

$this->bbcode_second_pass_quote('Arsenal', '')$this->bbcode_second_pass_quote('', '
')I would think the SPR would be used for "essential services" and the military only. Razz

[Novus]

You know $200 by the forth of July is not unreasonable at this point. All the super poor people 3rd worlders have already been forced from the market. To get further demand destruction it is going to take a much higher price to make a change.

[Twilight]

$this->bbcode_second_pass_quote('chuck6877', 'D')oesn't it make sense to attack Iran now if you're a neocon?

China doesn't want to get involved while they're having to host the Olympics.