|
|
Eating my words, Oil drops below $60
09-25-2006, 07:41 AM
|
#1
|
Thinks s/he gets paid by the post
Join Date: Jun 2006
Posts: 2,068
|
Eating my words, Oil drops below $60
Ok, time for me to eat my words. I didn't think oil would ever reach $60 again, shall we shoot for $40
__________________
"We do not inherit the earth from our ancestors, we borrow it from our children.
(Ancient Indian Proverb)"
|
|
|
|
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!
Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!
You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!
|
Re: Eating my words, Oil drops below $60
09-25-2006, 08:05 AM
|
#2
|
Thinks s/he gets paid by the post
Join Date: Apr 2006
Posts: 1,490
|
Re: Eating my words, Oil drops below $60
i've been waiting for someone to mention the price of oil ... commodities anyone?
|
|
|
Re: Eating my words, Oil drops below $60
09-25-2006, 08:22 AM
|
#3
|
|
Re: Eating my words, Oil drops below $60
|
|
|
Re: Eating my words, Oil drops below $60
09-25-2006, 08:37 AM
|
#4
|
Thinks s/he gets paid by the post
Join Date: Apr 2006
Posts: 1,490
|
Re: Eating my words, Oil drops below $60
i have some recollection of the following:
Quote:
Originally Posted by d
most things that follow economic cycles overshoot on both the upside and the downside ... i'd guess (but am not betting) that in addition to RE, we'll see oil and other commodities (including gold) "correct", and suspect that submerging markets have not fully "corrected".*
|
|
|
|
Re: Eating my words, Oil drops below $60
09-25-2006, 09:11 AM
|
#6
|
Gone but not forgotten
Join Date: Aug 2006
Posts: 6,924
|
Re: Eating my words, Oil drops below $60
Quote:
Originally Posted by justin
|
Just 'til after the elections.
__________________
"Knowin' no one nowhere's gonna miss us when we're gone..."
|
|
|
Re: Eating my words, Oil drops below $60
09-25-2006, 01:15 PM
|
#7
|
Thinks s/he gets paid by the post
Join Date: Apr 2006
Posts: 1,490
|
Re: Eating my words, Oil drops below $60
tinfoil hats!
|
|
|
Re: Eating my words, Oil drops below $60
09-25-2006, 01:58 PM
|
#8
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
|
Re: Eating my words, Oil drops below $60
I haven't seen anything that would merit being called a crash. Who would expect any commodity or stock or whatever to necessarily hold every price point? The economy may be weakening. And though it is hard to see that the risks in the Mid-East have lessened, the perception seems to be that they have.
So factors of supply and demand and projections of these two elements will always be waxing and waning. Have a look at monthly average prices, the picture looks different.
A crash is what happened to the NASDAQ. Going on 7 years now, and it is still down 60%. Ditto the Nikkei.
Check back 7 years form now. I doubt the oil bears will be growling then, except perhaps from a much higher price point.
Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
|
|
|
Re: Eating my words, Oil drops below $60
09-25-2006, 02:03 PM
|
#9
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
|
Re: Eating my words, Oil drops below $60
I tend to agree with Ha on this one. I see a correction and some see-sawing. A crash would be $20 oil. No way we are getting down there absent some kind of global recession, and even then it would have to be a severe one. Demand is too high and too many reserves are un-economic under $40 OR SO.
__________________
"All animals are equal, but some animals are more equal than others."
- George Orwell
Ezekiel 23:20
|
|
|
Re: Eating my words, Oil drops below $60
09-25-2006, 04:03 PM
|
#10
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2003
Location: Hooverville
Posts: 22,983
|
Re: Eating my words, Oil drops below $60
Here is an interesting counterpoint to the more bearish energy arguments that have been presented.
http://www.itulip.com/energyandmoney.htm
Esp look at part 2, Energy and Thermodynamics.
Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
|
|
|
Re: Eating my words, Oil drops below $60
09-25-2006, 04:09 PM
|
#11
|
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Apr 2004
Location: South Texas~29N/98W Just West of Woman Hollering Creek
Posts: 6,671
|
Re: Eating my words, Oil drops below $60
One things for sure, this is not Bush and Cheney's fault. They are only responsible when oil costs increase as I understand it.
__________________
Part-Owner of Texas
Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx
In dire need of: faster horses, younger woman, older whiskey, more money.
|
|
|
Re: Eating my words, Oil drops below $60
09-25-2006, 04:13 PM
|
#12
|
Thinks s/he gets paid by the post
Join Date: Aug 2005
Posts: 1,375
|
Re: Eating my words, Oil drops below $60
Quote:
Originally Posted by mickeyd
One things for sure, this is not Bush and Cheney's fault.
|
It's Clinton's fault, dude--get with the program. That's Hilary Clinton.
__________________
You can't always get what you want, but if you try sometimes, you might find you get what you need.
|
|
|
Re: Eating my words, Oil drops below $60
09-25-2006, 04:16 PM
|
#13
|
|
Re: Eating my words, Oil drops below $60
Quote:
Originally Posted by mickeyd
One things for sure, this is not Bush and Cheney's fault. They are only responsible when oil costs increase as I understand it.
|
Is this coming from a guy that used to blame Carter for screwing up the entire economy in 4 years? -
|
|
|
Re: Eating my words, Oil drops below $60
09-25-2006, 04:59 PM
|
#14
|
Thinks s/he gets paid by the post
Join Date: Mar 2005
Posts: 2,594
|
Re: Eating my words, Oil drops below $60
A buddy works for a pump company ... reports that at $70 / barrel oil and gas companies wiped out the pump supply and placed orders for many more. TThe theory was at these prices we need to sell everything we can possibly produce. Sooo, they did ... now the out come is obvious.
Gota love capitolism.
__________________
FIRE'd since 2005
|
|
|
Re: Eating my words, Oil drops below $60
09-25-2006, 05:06 PM
|
#15
|
Thinks s/he gets paid by the post
Join Date: Dec 2004
Location: Minneapolis
Posts: 4,455
|
Re: Eating my words, Oil drops below $60
Some say that the fundamental is $50 plus $x for uncertainty/risk.
__________________
May we live in peace and harmony and be free from all human sufferings.
|
|
|
Re: Eating my words, Oil drops below $60
09-25-2006, 05:14 PM
|
#16
|
Thinks s/he gets paid by the post
Join Date: Mar 2006
Location: Houston
Posts: 4,337
|
Re: Eating my words, Oil drops below $60
Quote:
Originally Posted by Cut-Throat
Is this coming from a guy that used to blame Carter for screwing up the entire economy in 4 years?* -
|
The problem with Carter is that he couldn't do anything meaningful as president in either 4 or 40 years.
__________________
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane -- Marcus Aurelius
|
|
|
Re: Eating my words, Oil drops below $60
09-25-2006, 05:17 PM
|
#17
|
Thinks s/he gets paid by the post
Join Date: Mar 2006
Location: Houston
Posts: 4,337
|
Re: Eating my words, Oil drops below $60
Quote:
Originally Posted by Spanky
Some say that the fundamental is $50 plus $x for uncertainty/risk.
|
"Some" don't have any idea what is happening in the oil patch. There is actually a horrific glut of oil and natural gas. I'd say that the price is more like $35 plux $x for uncertainty. I might be wrong but most likely on the high side.
To contain what I see as a price collapse, the Saudis will have to cut 20%.
__________________
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane -- Marcus Aurelius
|
|
|
Re: Eating my words, Oil drops below $60
09-25-2006, 05:24 PM
|
#18
|
|
Re: Eating my words, Oil drops below $60
Quote:
Originally Posted by 2B
The problem with Carter is that he couldn't do anything meaningful as president in either 4 or 40 years.
|
Actually he set the stage to cure inflation by appointing a Fed Reserve Chairman that raised interest rates to 20% to tame it. He was willing to commit political suicide for the sake of the country. He was also willing to tackle the energy problem about 30 years ago. The problem is that the masses are 'now orientated' and while they claim they want leadership, they are poor followers.
You sir are a sorry student of history.
|
|
|
Re: Eating my words, Oil drops below $60
09-25-2006, 05:31 PM
|
#19
|
Full time employment: Posting here.
Join Date: Nov 2003
Posts: 926
|
Re: Eating my words, Oil drops below $60
Quote:
Originally Posted by Cut-Throat
Actually he set the stage to cure inflation by appointing a Fed Reserve Chairman that raised interest rates to 20% to tame it. He was willing to commit political suicide for the sake of the country. He was also willing to tackle the energy problem about 30 years ago. The problem is that the masses are now orientated and while they claim they want leadership, they are poor followers.
You sir are a sorry student of history and a poor follower.
|
I am a student of history, although I am a "poor follower".
I follow no one but myself. Anyway, Carter is/was a terrible
embarrassment. I can see how he could get elected
(the "moron theory"). Still, he would get my vote as the worst
president ever.
JG
__________________
Some of us have pretty stories, about good friends, good times and noodle salad.
|
|
|
Re: Eating my words, Oil drops below $60
09-25-2006, 05:43 PM
|
#20
|
Thinks s/he gets paid by the post
Join Date: Apr 2006
Posts: 1,490
|
Re: Eating my words, Oil drops below $60
Quote:
The problem with Carter is that he couldn't do anything meaningful as president in either 4 or 40 years
|
... just imagine what he could have done in 40 years !! * that said, i'm more than happy to leave that "discussion" to JG and C-T ... i'll just sit back and watch.
|
|
|
|
|
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
|
|
Thread Tools |
|
Display Modes |
Linear Mode
|
Posting Rules
|
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
HTML code is Off
|
|
|
|
» Recent Threads
|
|
|
|
|
|
|
|
|
|
|
|
|
» Quick Links
|
|
|