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Oil is over 78 dollars a barrel
Old 07-31-2007, 01:59 PM   #1
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Oil is over 78 dollars a barrel

No hurricanes no trouble in Iran or saudi arabia. 100 dollars looks doable. That said ready for 4+ a gallon gasoline and a recession.? Yes the doom and gloom newguy is here.
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Old 07-31-2007, 02:03 PM   #2
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Not to worry NewGuy-plenty of members will point out that oil will go to $20 before it ever sees $80. Economics 101, demand destruction and all that jazz. Oh wait, maybe not!

BTW, anyone who is better at using the search function than I am, check out my comments on crude over the past 4 years.

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Old 07-31-2007, 06:19 PM   #3
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No hurricanes no trouble in Iran or saudi arabia. 100 dollars looks doable. That said ready for 4+ a gallon gasoline and a recession.? Yes the doom and gloom newguy is here.
$4 a gallon? Even fewer power boaters out there to mess up my sailboat with their wake? Recession? Little chance of finding another job, meaning I would have to stay retired? And let's see, at 8000 miles driving a year, that's about 300 gallons, another $300 a year. And the downside is
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Old 07-31-2007, 06:24 PM   #4
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$4 a gallon? Even fewer power boaters out there to mess up my sailboat with their wake? Recession? Little chance of finding another job, meaning I would have to stay retired? And let's see, at 8000 miles driving a year, that's about 300 gallons, another $300 a year. And the downside is
Better get serious about buying local
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Old 07-31-2007, 08:58 PM   #5
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My oil stocks are happy.
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Old 07-31-2007, 09:54 PM   #6
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Did you read about using waste and chicken remnants to create some sort ofcrude oil that can be refined? I think they threw it by the wayside because at the time oil wasnt even close to the price it is now....take note of the cost per barrel to produce this stuff...

Anything Into Oil
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Old 08-01-2007, 12:39 AM   #7
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At $78 a barrel the Canadian tar sands are quite economic. Is it too late t buy into those projects?
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Old 08-01-2007, 04:35 AM   #8
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High oil prices are inevitable because of the increased demand which will outstrip the supply. America will get serious about alternatives when the pain gets bad enough. Apparently we are not there yet.

At least I do not own any SUVs.
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Old 08-01-2007, 09:09 AM   #9
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Price of oil is up but refining costs have come down in recent months.
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Old 08-01-2007, 10:13 AM   #10
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The short-term futures market is a mixture of short-term hysteria and supply and demand. Anyone who thinks Exxon is paying an average of $78 a barrel of crude is mistaken..........they leverage the risk through LONG-TERM futures contracts...........
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