Friday, Jul 18, 2008
Last ditch attempt to ramp oil/gas bubble to FAIL
The Telegraph: Gas bills could rise 70 per cent to more than £1,000, analysts warn
Oil is 130 - down from 147. The mass media are desperately trying to ramp it up one more time. There power has gone though. Watch oil correct down to 100 and below over the next 3-6 months.
Posted by sold 2 rent 1 @ 08:34 AM (608 views) Add Comment
12 Comments
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1. little professor said...
Didn't you say it was going down to $60?
2. i remember the 90`s said...
Surely oil prices down to 100 dollars is good news isn`t it?
3. sold 2 rent 1 said...
i remember the 90`s,
"Surely oil prices down to 100 dollars is good news isn`t it?"
But an oil price crash isn't that good.
Firstly, the Mid East countries would stop buying US T-bills and make market IRs shoot up, causing more pain for the economy.
Secondly, hedge funds will blow up causing more bad debts for banks that will need more bailout money
4. sold 2 rent 1 said...
little professor,
Many analysts are forecasting $80 in 3-6 months.
But.........if Genepax announce a deal with Honda around this time then this will sink it much much lower.
We will then have a very serious financial crisis that will require massive bailout money from taxpayers.
We have NOT seen anything YET.
Sept/Oct are normally bad times for stock crashes. This year could be really bad if it is combined with an oil price crash.
5. Chaca said...
On your first point the media talking about high full bills is not what has driven oil prices. firstly oil prices rose BEFORE the media started shouting about it. The oil price is driven by buyers and sellers in the spot market for oil. This is ultimately driven by supply and demand not media hype.
Secondly if oil prices go down it the advantages to the economy due to lowering costs will be extremely wide spread will a much more important than any secondary effects from hedge funds or the middle east having less profits.
6. pelethar said...
We've heard it before s2r1..... many many many times.
7. denzil said...
Contrary to the opinion of others I think that any amount over $100 a barrel is purely driven by speculation hence prices returning to $100 is a distinct possibility and nothing particularly insightful. The same can be said for the price of Gold rising whilst oil falls. It's sort of obvious and would be surprising in the current world economic climate if it did otherwise.
8. lierbag said...
Price fluctuation: this has been one of the principal forecasts of the Peak Oil movement - but with the overall trend being upwards.
1. Finite resource.
2. Declining new discovery rates.
3. Increasing global demand.
4. Increased production costs.
5. Price goes up - leads to reduction in discretionary use.
6. Price goes down - consumption rates increase again, accelerating depletion. Ensuing scarcity forces prices back up.
etc. etc . . .
9. p. doff said...
4. sold 2 rent 1 said...''if Genepax announce a deal with Honda''
You just don't listen, do you. We debunked your interpretation that Genepax has invented a water powered car and hence purpetual motion only recently. I suggest you just look it up on Wiki and stay away from Youtube.
I note the terrible trio of S2r1, P4ac and Malct have been very active lately supporting each other in their continuing 5 year mission to seek out .... a new consciousness.
Please guys can you give it a rest. Some people are getting weary of the same old things being spouted over and over and over and over and over and over and over and over and over and over again. No matter how many times you say it, it gains no credibility and remains just as stupid as the first time.
10. ana lytics said...
well said p. doff @9 - was thinking the same exact thing......
11. denzil said...
p.doff said:
"Please guys can you give it a rest. Some people are getting weary of the same old things being spouted over and over and over and over and over"
Exactly! Repetition is the weapon of choice for your average cult.
12. nooneo said...
"Gas bills could rise 70 per cent to more than £1,000, analysts warn"
Just a thought but perhaps we can collect all the hot air spouted by Kurtsie and the other propery pornstars and stave off the energy crisis?