Oil prices

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A price war at the wellhead instead of at the pump. What a concept.

thats where the "price war" should be IMHO. not in the "futures market" on wall street

I think if you want to buy oil as an investment, you should be forced to take delivery within 7 days of purchase in wet gallons. I guess the same goes for everything we consume that is traded like Monopoly money while toying with the day to day living expenses of us workin folks.
 
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I think if you want to buy oil as an investment, you should be forced to take delivery within 7 days of purchase in wet gallons. I guess the same goes for everything we consume that is traded like Monopoly money while toying with the day to day living expenses of us workin folks.



yes sir you can very much "get an Amen" ;)
 
Yeah. Futures were a good idea as a planning hedge for those that actually take delivery and use the stuff. But have gotten totally out of hand. I would love to see 100,000 barrels dumped in the basement of J.P.Morgan's office building in NYC.
 
Yeah. Futures were a good idea as a planning hedge for those that actually take delivery and use the stuff. But have gotten totally out of hand. I would love to see 100,000 barrels dumped in the basement of J.P.Morgan's office building in NYC.

They would pump it into the Hudson river and burn it off
 
I think if you want to buy oil as an investment, you should be forced to take delivery within 7 days of purchase in wet gallons. I guess the same goes for everything we consume that is traded like Monopoly money while toying with the day to day living expenses of us workin folks.
Does that go for all the folks who have commodity positions in their 401k portfolios? I'll need clear a space for all that oil, gold, silver, gas, rare earth metas etc.
 
Ended up getting 100 gal at 3.15. Brings me up to 3/4 tank. Should hooefully get me to Feb.
 
I invest in oil and gas contract ETF's.......

It's the only investment that's a sure thing if one has patience. Example - you buy USO or BOIL today. Is anyone here going to claim that sometime in the next two years oil and gas won't be higher than today?

Nothing wrong with investing in commodities...the problem is only when they allowed too much leverage.
If I owned an airline I think I'd hedge a bunch at current pricing. Yeah, it could go down. But at some point you run up against the reality of how much energy (work) that the oil gets done and also the costs for present exploration and development.

IMHO, of course.
 
Nov 27: Opec decides no cut to production.
Price falls 8% in one day.
Oil at 2009 levels.

Folks, we are witnessing some crazy stuff. The elephants are fighting.
 
Nov 27: Opec decides no cut to production.
Price falls 8% in one day.
Oil at 2009 levels.

Folks, we are witnessing some crazy stuff. The elephants are fighting.

Nat Gas higher - electric rates going up 25% in MA and RI - because it's mostly now based on Nat Gas.
 
Yes, I saw that the other day when checking my retirement accounts. UHN had just crossed early 2010 support level. I see it going lower in the near term.
 
Nov 27: Opec decides no cut to production.
Price falls 8% in one day.
Oil at 2009 levels.

Folks, we are witnessing some crazy stuff. The elephants are fighting.
Cheap oil. It's Obama's fault. LOL Texas sweet at $67!
 
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Yep. Concerned about that Exxon stock. They could support exploration down to $69 a barrel. Last time I looked that was more than $67.
 
Yep. Concerned about that Exxon stock. They could support exploration down to $69 a barrel. Last time I looked that was more than $67.
Might be good for them long-term (albeit painful short term). Shake out the less-than-well-capitalized crowd. I'm thinking there's going to be a big debate come January about ending the export ban. Saudis would welcome it, since WTI would fetch more off shore and it would leave more room at Gulf refineries for their product.
 
The Gulf refineries will be sifting sand out of Canadian albumin. And blowing up at alarming rates due to pipe and unit corrosion.
 
This mornings spot prices yes.

But futures for WTI January delivery are at $68.92.
 
This mornings spot prices yes.

But futures for WTI January delivery are at $68.92.
Thank you for illustrating my point.
and that's a rather narrow range for the day.
 
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Folks, we are witnessing some crazy stuff. The elephants are fighting.

Yeah, in a battle of the Saudis versus the over-leveraged frackers, who do you think will go belly up first?
 
Yeah, in a battle of the Saudis versus the over-leveraged frackers, who do you think will go belly up first?

Don't underestimate the ability of investors to buy junk debt hoping to hit a home run. There is plenty of liquidity out there.
 
True. But they still need to find somebody to hold the bag.
 
http://www.businessweek.com/article...not-last-as-fracking-wells-lack-staying-power

Fracking wells don't last long. There is a big argument in the industry as to whether production levels are sustainable in the long run. Hard to know who to believe; the people saying it is (protecting their investments) or the doubters who point to the numbers and costs. Maybe they just want people to believe long enough until someone else buys the "bag" and they can walk away. But it sure looks like the Saudis want to inflict serious pain here to the frackers.
 
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