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Oil Now Over $96/Barrel - $100 Next Week Forecast
That was quick! A spin around the world markets overnight and oil goes up a further $2 over yesterday and expected to reach $100 during next week. Time to go into the sugar cane biz for ethanol production :pimp
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yeah it sure is going to get interesting in a few years when we hit peak oil
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get rid of the suv's & buy a civic
or eventually a golf cart, for around town.... problem solved! |
And currencies so far are...
1.00 CAD = 1.05874 USD 1.00 AUD = 0.928013 USD The pound rose to a 26-year high of $2.08, while the euro touched $1.45 - its highest point since its 1999 debut. Mmmm... time to switch revenues over to Euro and GBP earners and raise paysite subs if paid in dollars. |
Thank god I ride a mule around town.
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Its stupid to make a rate cuts (aka lower value of US dollar) into major commodity bull. The price is to be paid by average "Joe Six Pack" few months later. The comming inflation will bring US into recession.
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Well uncle Sam "prints" new dollars, so dollar losing value. Expect huge inflaction in the USA next year.
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The far more dangerous option would be a raising of rates and a credit crunch where it could then follow on to a recession - and all hell would break out. The credit crunch is starting to show already and suspect that's why the Fed elected to cut the rate - ie the pressure is already on and it's damage limitation time. Would think they are likely to decrease the rate further in the near future - and prob before the last quarter economic figures are published. (The quarter just passed was actually OK - 3.9%, but kinda wiped out by other things and the current quarter is expected to be utter crap - so suspect the Fed will step in again.) |
Mmmm... forgot one element - every time they weaken the dollar, oil is just going to rise (and imports)....
Hell... it's a no-win either way... |
I have a 1968 Mustang conv that has been in the family since new. It has a 289 V8 with 86,000 miles and gets around 14 mpg. In 40 years technology has not done any of us favors as far as gas consumption.
2007 Ford Crown Victoria V8 11 mpg 2007 Ford Edge AWD 6cyl 16 mpg 2007 Ford Escape 4WD 4cyl 18 mpg 2007 Ford Escape FWD 4cyl 20 mpg 2007 Ford escape hybrid 4cyl 28 mpg So we cut the cylinders by half, make the engines to complicated for all but the dealers to work on and except for the hybrid which at this point is not cost effective there is basically no improvement in efficiency. Well how about the imports you say ..... 2007 Honda Accord 4cyl 23 mpg 2007 Honda Accord 6cyl 18 mpg 2007 Accord hybrid 6cyl 24 mpg 2007 Honda Civic 4cyl 24mpg 2007 Civic hybrid 4cyl 40mpg Not a lot better is it? The only efficencys were obtained by reduction in size of the motors. All vehicles were automatic like the Mustang .... www.fueleconomy.gov for mpg city |
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The Mustang cost $2800.00 in 1968, what's that in todays dollars? |
we should have been in a recession 6 years ago. Right after George Bush came into office. (go figure). but Mr Bush decided to pump billions upon billions of dollars into the economy by doubling the national debt. In 7 years Bush did just as much damage to our national debt as all the other presidents since 1940. Republicans FTW!
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OK.. Down and dirty calc... annual inflation since 1968 to 2006 totals 181.43% so $2800 would be around $5080 at todays levels. Here's the URL for calcs... Misery Index :-) - Inflation Rates |
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You're driving a car that does 14mpg and saying that technology has stood still when you can drive almost three times as far using the same amount of fuel in a newer car? |
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sorry, gotta get some zzzz |
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And in todays dollars the car would cost $5000.00 :Oh crap |
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Americans like their horsepower so even though the engines are smaller the horsepower in the majority remains on the high side or close to what the older bigger engines were. Even when a new high milage car is introduced the manufacturers keep increasing the size of the car and increasing the horsepower as that is what the consumer wants. I bought a new '86 Escort that made 41 mpg on the highway but until the escort was discontinued they kept making it bigger, heavier with increased horsepower thus the milage kept decreasing. The new Toyota Tacoma's have 240 horsepower and even though they have added a 6th gear to try and compensate the mpg is less than my '03. BTW I like my '03 better than the '07's. |
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Got a partner who specializes in global investment here (mainly for expats) and he is constantly thumping not only the future prospects for Canada overall, but in energy resources. His stats for markets over a five year period have proven to be very accurate and for Canada, - this has shown a return of 60% over the five year period and a very bright future outlook. If you compare that to the US for the same period, the market gain is only 18% (or less than 3.5%/year). PS The next "energy resource" is plain water - amazing what scarity means :) |
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times are rough ....
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YOU LIE. This guy is an expert! http://money.cnn.com/2007/08/07/news..._oil/index.htm |
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The substance of the $100 level is from a early morning market press report - I never generated the magical figure, market analysists did. Tho the price has dropped since then, they are still saying: Quote:
And. I'd agree with this, but for a more simple reason. The dollar will continue to decline for the forseeable future and with each decline in currency, oil will rise in price. It's that simple. On a longer term, sure, can see oil at a level which was more a norm, but claims by Beutel, that "Four to 8 years from now, we could come down and break $20 a barrel" are just too absurd. That is like defying gravity. If he feels that confident, every govt on the planet should be on his doorstep buying oil futures at his prices - only hope he would have the financial assets to support his mouth :1orglaugh PS Also consider this - (tho not talking about Peter Beutel in particular), the financial reports on both shares and cristal ball gazing by analysts on Wall Street have been proven time and time again to represent an overly colorful outlook without foundation. These are the same people who introduced their bosses to the greed element of sub-prime mortgages. They are also the same people now selling "prime investment" when they know very clearly a number of packages are anything but "prime investment" and contain repackaged sub-prime loan problems. Yet again, it is another attempt to sell off Wall Street screwups to unsuspecting investors. Don't trust any of them - cred is lacking - and prefer to listen to analyists outside that 'sphere of influence'. |
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meh, the modern economy has plenty of natural mechanisms in place to deal with expensive oil, if anything it makes alternative (ie expensive) forms of energy more economically viable.
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So far, the only viable force able to bring down prices of oil down to the 50-60 bucks levels is comming recession. |
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does anyone remember the price of oil before we invaded Iraq?
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Tho the current price prob still has a relationship to Iraq, the main problem with the price now is the US economy - specifically dollar value. |
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I hear sugar cane production is not very eco friendly.
It's time to tax the living heck out of SUVs and other wasteful items. |
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BTW.. You missed out the "blah.. blah... blah... pigshit" - that is crucial to any economic thread. Take some advice and fry yourself and donate your body oil to national reserves - they need it :thumbsup |
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I'm lucky for I don't have a car :)
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Fuck the oil industry.
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