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  1. #21  
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    Quote Originally Posted by hampshirebrit View Post
    The Saudis have not announced this at all, as far as I know.

    They have been making repeated statements for the past two months that they will not increase production, because "the market is well supplied".

    Check out MSN Money; the story broke at noon today and the Saudis will up production by a half million a day starting in July.
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  2. #22  
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    Quote Originally Posted by Cold Warrior View Post
    I do, indeed, for the next 5-7 years at least. However, from your conception of the market, I take it you don't know jack about economics, do you?

    It's a nice sentiment -- "we need to care of OUR needs first" -- that makes very little economic sense. How, exactly, would you accomplish that in a global economy? One way would be to get the government into the oil business. To do that, you'll need a whole lot of infrastructure so the most direct way would be to nationalize the oil companies. Is that your proposal? If so, there's another site that people here often laugh at, that might suit your views better, as probably 99.9% of them would agree with you. Unfortunately, that approach didn't work very well for the Soviets.

    If that's not your answer, then perhaps you would like the Congress to pass laws that all oil drilled in the US is required to be sold within the US at rates significantly less than the world market rate? Forget for the moment the additional costs those companies would bear in starting up in new sites, we can always address that by direct government subsidies and tax breaks. Now, under this scenario, if you're an investor, investing in oil companies, which company are you invest in: Company A under US government imposed price controls or Company B, based outside of the US, under no such controls and selling oil at global market rates? I hope you answered the latter; if not, you have very little chance of being a portfolio manager with any large funds management firm.

    If you've got a third way, I'd sure be interested in hearing it.
    and your way takes how long???? 20 30 years???? we're happy YOU can wait that long
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  3. #23  
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    Quote Originally Posted by lacarnut View Post
    What goes up must come down and that is what is going to happen to the Euro. The dollar will start rising. That should push the price of oil downward somewhat. The EU is worried about the rise of the Euro because it makes their products much more expensive. Many Europeans are coming to the US because of the falling dollar as their Euros buy more and makes our products cheaper. It's a trade off, and our exports have never been so high.

    Like Hemp. said, oil service and domestic exploration stocks are good investments.
    Hopefully, it will come down soon, as I convert a significant amount of dollars to Euros each month and I'm taking a beating on it. However, I don't think it will ever (in my lifetime, at least) go back to its historic lows of 80 cent to the Euro. I would anticipate it to settle at around $1.25 to the Euro, slightly above the original strike price of $1.17.

    And yes the Europeans are worried about it; however, not worried enough to take any definitive action, such as lowering interest rates. As to Europeans coming to the US, they're flocking here in droves. Go into any NYC pub and you'll find that the majority of patrons are Europeans here on holiday, buying "cheap" US goods and services; sort of like we used to do in countries like Mexico, wherein the currency was extremely weak.
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  4. #24  
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  5. #25  
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    Quote Originally Posted by namvet View Post
    and your way takes how long???? 20 30 years???? we're happy YOU can wait that long
    Well, I can certainly wait that long (and billions and billions of years longer) as I'll probably be dead by then. However, you failed to answer the basic question. How would you enforce the price of US-drilled oil to be lower than the global market rate? How would you, in a global economy and free market capitalistic country, achieve the sentiment you expressed earlier, i.e., "taking care of our own first?"
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  6. #26  
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    Quote Originally Posted by lacarnut View Post
    Check out MSN Money; the story broke at noon today and the Saudis will up production by a half million a day starting in July.
    OK.

    They say they will. Will they?

    They said that in late March, too, and they didn't deliver. The $/bbl price has increased $20 since the last time they said they would increase production.

    We are getting increasingly mixed signals from Saudi Aramco. I'm not even sure which half a mil they're talking about anymore.

    Reading between the lines, it looks like Aramco is hitting peak, for probably political rather than geological causes ... but peak is peak, regardless of cause.

    We need to develop alternatives for transportation liquid fuels, and fast, and stop relying on producing nations who don't like us very much, and who can no longer deliver.
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  7. #27  
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    Quote Originally Posted by Cold Warrior View Post
    Well, I can certainly wait that long (and billions and billions of years longer) as I'll probably be dead by then. However, you failed to answer the basic question. How would you enforce the price of US-drilled oil to be lower than the global market rate? How would you, in a global economy and free market capitalistic country, achieve the sentiment you expressed earlier, i.e., "taking care of our own first?"
    did I say I was an economists ???? NO IM NOT.

    However, you failed to answer the basic question. How would you enforce the price of US-drilled oil to be lower than the global market rate? How would you, in a global economy and free market capitalistic country, achieve the sentiment you expressed earlier, i.e., "taking care of our own first?
    here's the basic answer. crooked politicans.
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  8. #28  
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    Quote Originally Posted by Cold Warrior View Post
    Well, I can certainly wait that long (and billions and billions of years longer) as I'll probably be dead by then. However, you failed to answer the basic question. How would you enforce the price of US-drilled oil to be lower than the global market rate? How would you, in a global economy and free market capitalistic country, achieve the sentiment you expressed earlier, i.e., "taking care of our own first?"
    well then should we elect you prez. or a sen or congress??? you do have ALL the answers don't you???? well don't you????....... all I see from you is wine complain and moan. thanks for nothin' !!!!!!!!
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  9. #29  
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    Quote Originally Posted by namvet View Post
    well then should we elect you prez. or a sen or congress??? you do have ALL the answers don't you???? well don't you????....... all I see from you is wine complain and moan. thanks for nothin' !!!!!!!!
    Actually, that's pretty funny. First, I never claimed to have any of the answers. I merely pointed out that it's unrealistic in a global economy for a free-market country to impose constraints of the type you're suggesting in order to ensure that "we take care of our own."

    As to "wine," I'm just about to open a very nice, hearty Sicilian red to serve with my lamb kebabs; however, if you actually meant "whine," I would point out to you that NOWHERE in this thread have I whined about anything. I've not complained about the price of oil, nor about the evil Saudis, nor about the bad old oil companies. I'll leave it to your imagination to guess as to who has.

    Still awaiting your answer, even though you're not an "economists." Perhaps you might just outline it in broad, high-level terms without all the economiststics detail. :D
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  10. #30  
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    Quote Originally Posted by Cold Warrior View Post
    Actually, that's pretty funny. First, I never claimed to have any of the answers. I merely pointed out that it's unrealistic in a global economy for a free-market country to impose constraints of the type you're suggesting in order to ensure that "we take care of our own."

    As to "wine," I'm just about to open a very nice, hearty Sicilian red to serve with my lamb kebabs; however, if you actually meant "whine," I would point out to you that NOWHERE in this thread have I whined about anything. I've not complained about the price of oil, nor about the evil Saudis, nor about the bad old oil companies. I'll leave it to your imagination to guess as to who has.

    Still awaiting your answer, even though you're not an "economists." Perhaps you might just outline it in broad, high-level terms without all the economiststics detail. :D
    look back. i gave you the answer. your long on theory but unable to marry it to an action. enjoy your food. hope it didn't come from China.
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