Article

2008-04-24 -Signs, Portents, and the Weather-

Global Oil Alert: Oil Prices to double by 2012; Canadian Study

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Posted by GolfBravoUSMC 2008-04-24 15:11|| || Front Page|| [11130 views ] Top

#1 Saudi will just be giving it back to us in payment for grain. Every time they jack up our oil costs, it jacks up their food costs.

Posted by crosspatch 2008-04-24 15:32|| 2008-04-24 15:32|| Front Page Top

#2 as supply becomes increasingly tight

Guess they didn't get the word. It's the difference between 'known' reserves and the 'stuff keeps popping up' type driven by the market.

Posted by Procopius2k 2008-04-24 15:37|| 2008-04-24 15:37|| Front Page Top

#3 Obviously the fact that a higher price is
1/ An incentive to increase supply.
2/ An incentive to use less.

Seems to pass these folks by.

However I think 150 USD/barrel could be by the end of the year. Commodities are the new bubble/ dumping ground for all the money that used to be in MBS.

Posted by Bright Pebbles 2008-04-24 15:52|| 2008-04-24 15:52|| Front Page Top

#4 Well, here's the headline from three years ago today...

Oil Prices Surge Above $55 a Barrel

Posted by tu3031 2008-04-24 16:05|| 2008-04-24 16:05|| Front Page Top

#5 The reality is that the price will keep increasing until demand is substantially reduced. What the media and others don't seem to realize is that demand reduction will come in large part from the developing world.

Ditto for food.

Posted by phil_b 2008-04-24 16:30|| 2008-04-24 16:30|| Front Page Top

#6 I smell something rotten. The commodity prices are driven up, in part, by hedge fund speculators betting supplies will be short. Their manipulation of the markets, ie. rice, is bogus, as there is no real shortages but fear of hoarding based upon the media-driven word. Biofuels are not only made from corn, but other renewable crops like bamboo that are difficult to eradicate, providing sources of income to developing countries. California is chopping down avocado trees, causing us to rely on more expensive imports, because of a water shortage. What about desalination and other water conservation projects? New technology like fuel cells will put an end to all this in short order. The Midwest has a vast supply of empty containers and abundant grains while our exports are being hindered by the likes of Pelosi. Free, but fair trade is the answer. It is the likes of Soros, a hedge fund billionaire, OPEC, and the UNcrats(Gaza shortages, Chinese coal,etc)behind all this manipulation and alarmism, fitting nicely into the AQ playbook to destroy us economically.

Posted by Thealing Borgia6122 2008-04-24 16:54|| 2008-04-24 16:54|| Front Page Top

#7 offset by demand growth in developing nations

Why would demand be able to 'grow' in developing nations when the developed nations' demand is forced to decline by high oil prices? One would think demand would fall even faster in poor countries than wealthy ones when prices increase.

Posted by Glenmore">Glenmore 2008-04-24 18:53|| 2008-04-24 18:53|| Front Page Top

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