[Gvil]

Fortune -- Sh yawn Tully

[mark]

I always wonder when I hear this kind of crap; are these people really as clueless, uninformed and stupid as they sound, or is something else going on. My paranoid mind thinks these people who make such utter nonsense sound reasonable to the average (uninformed) american are splashed across the airwaves BECAUSE they spout the company's (empire's) line.

[Mettezz]

Yup he's an retard.

Demand destruction for oil is a myth, if americans and europeans consumes less oil, china and india will consume more.

I also think the Bear Stearns boss said also that oil is a bubble and he really is full of shit.

[Ryno]

What an idiot. He flat out says to ignore the fundamentals about supply and demand and just look at oil as a bubble. All these morons say the same thing - price must come down to marginal cost. Totally ignoring the fact that supply is UNABLE to increase and will actually decrease.

[SpringCreekFarm]

In their world, the supply is endless and the troubles can only be caused elsewhere. He really believes what he says. Poor bastard is a real sucker.

[Armageddon]

$this->bbcode_second_pass_quote('Mettezz', 'Y')up he's an retard.
Demand destruction for oil is a myth, if americans and europeans consumes less oil, china and india will consume more.
I also think the Bear Stearns boss said also that oil is a bubble and he really is full of crap.

[dub_scratch]

You guys miss the point of his argument altogether. What he is saying is that oil price is in a bubble and that will bring on a rush of new supply. This is like the housing bubble, which induced a building binge that drove the prices down once the bubble was over. The same thing will happen with oil. Oil deposits that currently are not there will begin to pay attention to the high price, and will react by magically springing into existence. If I wasn't an oil field (which happens to be the case) and I saw that there is a lot of money to be made by becoming one, I would turn into a big oil field ASAP in order to cash in. Millions of non-oil deposits are poised to do the same.

[Eli]

My favorite talking idiot is Steve Forbes, he has been saying oil is going down to 30 ever since it crossed 50.
The guy has billions, owns a magazine and has run for president and is a clueless moron.

Yes a lot of these guys are that dumb.

[Denny]

I see it reading between the lines, we all will start lookng harder for those bits of elusive oil left undergound.
I am starting in my backyard tonight!

I'd just like to get an interview with Poppy Harlow, she is hot. Somehow with her name and looks, I think of her as an entertainment reporter who took a wrong turn somewhere.

[dub_scratch]

$this->bbcode_second_pass_quote('Denny', 'I') see it reading between the lines, we all will start lookng harder for those bits of elusive oil left undergound.
I am starting in my backyard tonight!

[nocar]

Armageddon, we will see who cut down on their oil use first, Americans or Chindians.

As I see it, Americans drive as a daily routine and for earning money as in job commuting. For some , the job will not be worth higher transport costs, so they will find a job closer to home even if the salary is lower. Americans are likely to cut down on vacations and trips to relatives across the country. Some truckers will go out of business. Some goods will not be worth as long freights as before.

In Chindia, the situation is different with millions of new car owners and new trucks. Car owners who have invested a lot in their a first car are willing to pay a lot for using it, driving to their home village to show it. With trucks available, and new roads, farm products can more easily be brought to distant cities and be sold for more than if the products were transported by bicycle to the next village. In short, even in an economic downturn, Chindians now have a lot more motors to use than they ever did, and more roads to run them on.

In America and Europe, an immense infrastructure for oilbased transport, which consists of vehicles, highways, gas stations and parking lots, has been in place for decades. In Chindia, it is brand new and the number of individuals with the economic means to use it is much higher than ever before.

-How the Chindian government will handle the bind they have put themselves in by subsidizing petrol remains to be seen. Will they keep subsidizing until their states are bankrupt, thereby keeping the the rich and powerful happy in their new cars, while essential services for people in generaly are cut, until the unavoidable economic crash? (or a war perhaps?) Cars before people?

Or will the governments be bold and fair, and dare to now face the ire of the influential upper middleclass who will feel terrible cheated - saving for years to buy a car, and then hardly be able to use it.

The irony is that Western economic advisors have told Chindia that getting car production going and building highways are great ways to obtain economic growth and prosperity.

nocar

[mark]

dub_scratch:

I'm always on the lookout new ways of thinking. I tried "What the Bleep," and "The Secret" but you've hit on a 'hole new way 'a puttin' things. The new way is all 'bout BECOMING. I can't wait to take advantage of $150 dollar oil and become OIL! I'll be rich beyond my wildest dreams. Then I'll write a book about HOW to become oil and make even more money. People all over the US will buy my book, I'll go on speaking tours and charge a fortune to let people near me. Of course, the rest of the world will take some persuadin' but that's what the MSM is for. They'll be on board in a heart beat.

Sign me 'simply can't wait'

[Captain_Meh]

I dunno, the guy seemed pretty reasonable and well-informed to me. His point is sound: the margins are excessive as they stand right now.

The big issue is the lag in producing the more expensive reserves, including those from non-conventional sources. Included in that issue is the fact that a greater proportion of proven reserves today are state-controlled. Love it or hate it, private enterprise has proven to be the most efficient mechanism by which to strip, bleed, deplete, etc. any resource.

If you could remove the big constraints on production, then I suspect something in the $60-70/barrel range seems more consistent with the demand picture at present. In any case, I consider these prematurely high prices to be a blessing.

[Specop_007]

$this->bbcode_second_pass_quote('SpringCreekFarm', 'I')n their world, the supply is endless and the troubles can only be caused elsewhere. He really believes what he says. Poor bastard is a real sucker.

[Dreamtwister]

$this->bbcode_second_pass_quote('Eli', 'M')y favorite talking idiot is Steve Forbes, he has been saying oil is going down to 30 ever since it crossed 50.
The guy has billions, owns a magazine and has run for president and is a clueless moron.
Yes a lot of these guys are that dumb.

[vision-master]

$this->bbcode_second_pass_quote('Specop_007', '')$this->bbcode_second_pass_quote('SpringCreekFarm', 'I')n their world, the supply is endless and the troubles can only be caused elsewhere. He really believes what he says. Poor bastard is a real sucker.

[jdmartin]

Well the people that compare imagined tech stocks or the infinite possibility of manufacturing housing with a finite resource located hundreds/thousands/tens of thousands of feet below the surface, in many cases below the seabed surface, just crack me up. They're either chronically stupid or trying to serve an ulterior master.

[Bman4k1]

$this->bbcode_second_pass_quote('Captain_Meh', 'I') dunno, the guy seemed pretty reasonable and well-informed to me. His point is sound: the margins are excessive as they stand right now.
The big issue is the lag in producing the more expensive reserves, including those from non-conventional sources. Included in that issue is the fact that a greater proportion of proven reserves today are state-controlled. Love it or hate it, private enterprise has proven to be the most efficient mechanism by which to strip, bleed, deplete, etc. any resource.
If you could remove the big constraints on production, then I suspect something in the $60-70/barrel range seems more consistent with the demand picture at present. In any case, I consider these prematurely high prices to be a blessing.

[WildRose]

$this->bbcode_second_pass_quote('Captain_Meh', 'T')he big issue is the lag in producing the more expensive reserves, including those from non-conventional sources.

[hironegro]

Wow another baby boomer, big shock!