gradin123 0 Posted October 8, 2008 Share Posted October 8, 2008 Has anyone noticed that Oil is taking it on the chin in the financially markets lately?Yet both candidates talk about more drilling being needed. Really? Do they realize that these drilling projects need Oil to stay at $100 barrel to be financially viable and they need a lot of capital which isn't exactly growing on trees these days. Right now Oil is probably headed for $85 very soon and could easily go lower. These projects aren't going to happen until the price goes back up because they are too pricey. It is a non-issue. Link to post Share on other sites
copernicus 0 Posted October 8, 2008 Share Posted October 8, 2008 Yes its tanking. No, its not even close to a "non issue". Thats the same mistake weve been making for the last 30 years. Link to post Share on other sites
gradin123 0 Posted October 8, 2008 Author Share Posted October 8, 2008 Yes its tanking. No, its not even close to a "non issue". Thats the same mistake weve been making for the last 30 years.I should clarify.Alternative sources are needed. Absolutely. But off shore drilling and combing the Oil Sands of Alberta are both not financially viable right now and companies are not going to invest in projects that are not financially viable. There is a reason most of the oil comes from the middle east. Because it is cheap to get at. The dependence on oil overall needs to be reduced for many reasons. But the dependence on foreign Oil needs to be reduced by lowering the dependence on oil period. Producing oil in the US domestically is a non-issue because opening up drilling and combing the oil sands is expensive and is a last resort. The world isn't running out of oil yet. Link to post Share on other sites
Pot Odds RAC 23 Posted October 8, 2008 Share Posted October 8, 2008 The Market should speak.When GM tanked, they bet big on the Volt - not because the Government made them, but because the Market demanded it. Link to post Share on other sites
copernicus 0 Posted October 8, 2008 Share Posted October 8, 2008 I should clarify.Alternative sources are needed. Absolutely. But off shore drilling and combing the Oil Sands of Alberta are both not financially viable right now and companies are not going to invest in projects that are not financially viable. There is a reason most of the oil comes from the middle east. Because it is cheap to get at. The dependence on oil overall needs to be reduced for many reasons. But the dependence on foreign Oil needs to be reduced by lowering the dependence on oil period. Producing oil in the US domestically is a non-issue because opening up drilling and combing the oil sands is expensive and is a last resort. The world isn't running out of oil yet.Part of the reason oil is tanking is because of the threat of more drilling. Methods will continue to be developed to make oil shale more economic, and offshore drilling would be economic even at 70/bb if the legal obstacles are removed. Link to post Share on other sites
gradin123 0 Posted October 8, 2008 Author Share Posted October 8, 2008 Part of the reason oil is tanking is because of the threat of more drilling. Methods will continue to be developed to make oil shale more economic, and offshore drilling would be economic even at 70/bb if the legal obstacles are removed.A lot of the proposed oil sands projects in Alberta are in serious jeopardy and some have already been scrapped. The credit crisis combined with Oil plummeting makes raises capital for the projects unviable.The Oil prices have been artificially inflated of late and now Oil is becoming the latest bubble to burst on the markets.Bush had an oil friendly administration. Obama will have a Wall Street friendly administration. I'm sure Goldman Sachs will end up coming out of the other side of the latest crisis smelling like roses because they are basically running the country right now and they are invested heavily in Obama. Link to post Share on other sites
Pot Odds RAC 23 Posted October 8, 2008 Share Posted October 8, 2008 Can someone explain to me how "Oil" or "Big Corporations" are "running the country"?...at the same time explain how someone or something "got someone elected". Use Bush as an example if you must. Link to post Share on other sites
Loismustdie 0 Posted October 8, 2008 Share Posted October 8, 2008 Oil is mostly tanking because of deleveraging. The margin requirements in the futures markets is really soft- I think it's like 1 to 10 or something like that. So, for every 10 bucks of an investors money leaves that market and they no longer max borrow against it effectively 100 leaves the playing field. I don't know the exact numbers but I know it's a big factor right now. Link to post Share on other sites
gradin123 0 Posted October 8, 2008 Author Share Posted October 8, 2008 Can someone explain to me how "Oil" or "Big Corporations" are "running the country"?...at the same time explain how someone or something "got someone elected". Use Bush as an example if you must.The secretary of finance is Henry Paulson. Former CEO of Goldman Sachs.The $700 Billion bailout is be guided by Neel Kashkari a former Goldman Sachs executive. Robert Rubin the secretary of finance under Clinton was Vice Chairman and Co-Chief Operating Officer at Goldman from 1987 to 1990.Forget Corporations running the country. It Is One Corporation. GOLDMAN SACHS! Link to post Share on other sites
Pot Odds RAC 23 Posted October 8, 2008 Share Posted October 8, 2008 The Fed is run by Henry Paulson. Former CEO of Goldman Sachs.The $700 Billion bailout is be guided by Neel Kashkari a former Goldman Sachs executive. Robert Rubin the secretary of finance under Clinton was Vice Chairman and Co-Chief Operating Officer at Goldman from 1987 to 1990.Forget Corporations running the country. It Is One Corporation. GOLDMAN SACHS!So.......Paulson is on the take? Link to post Share on other sites
gradin123 0 Posted October 8, 2008 Author Share Posted October 8, 2008 So.......Paulson is on the take?YEAH! Is that greed hard to fathom for you? It shouldn't be. Link to post Share on other sites
Pot Odds RAC 23 Posted October 8, 2008 Share Posted October 8, 2008 GS 52 week high 250.70Last trade 115.00 Link to post Share on other sites
Pot Odds RAC 23 Posted October 8, 2008 Share Posted October 8, 2008 YEAH! Is that greed hard to fathom for you? It shouldn't be.OK.Nice job. Link to post Share on other sites
SCYUKON 0 Posted October 8, 2008 Share Posted October 8, 2008 I hope it keeps on tanking. Greedbags. And I live in Oil Rich Alberta. Link to post Share on other sites
copernicus 0 Posted October 8, 2008 Share Posted October 8, 2008 Oil is mostly tanking because of deleveraging. The margin requirements in the futures markets is really soft- I think it's like 1 to 10 or something like that. So, for every 10 bucks of an investors money leaves that market and they no longer max borrow against it effectively 100 leaves the playing field. I don't know the exact numbers but I know it's a big factor right now.Delevering is the reason for most of the drop in securities other than the financial institutions themselves. Link to post Share on other sites
El Guapo 8 Posted October 8, 2008 Share Posted October 8, 2008 The secretary of finance is Henry Paulson. Former CEO of Goldman Sachs.The $700 Billion bailout is be guided by Neel Kashkari a former Goldman Sachs executive. Robert Rubin the secretary of finance under Clinton was Vice Chairman and Co-Chief Operating Officer at Goldman from 1987 to 1990.Forget Corporations running the country. It Is One Corporation. GOLDMAN SACHS!Goldman Sachs has continuously hired the best talent, of course they will put people in places of high finance. Your looking at this wrong. Link to post Share on other sites
gradin123 0 Posted October 8, 2008 Author Share Posted October 8, 2008 GS 52 week high 250.70Last trade 115.00The question is where will it be at when the Obama administration is over. By the way CEOS of companies don't really care about their investors. Link to post Share on other sites
gradin123 0 Posted October 8, 2008 Author Share Posted October 8, 2008 Goldman Sachs has continuously hired the best talent, of course they will put people in places of high finance. Your looking at this wrong.Yeah they have guided the US well over the last 12 years. Link to post Share on other sites
Pot Odds RAC 23 Posted October 8, 2008 Share Posted October 8, 2008 Goldman Sachs has continuously hired the best talent, of course they will put people in places of high finance. Your looking at this wrong.Exactly....either that or perhaps they should have put a Subsitute Teacher from Montana in the position - they know everything, just give them a chance to tell you so. Link to post Share on other sites
El Guapo 8 Posted October 8, 2008 Share Posted October 8, 2008 Yeah they have guided the US well over the last 12 years.What the hell are you talking about? Link to post Share on other sites
gradin123 0 Posted October 8, 2008 Author Share Posted October 8, 2008 What the hell are you talking about?Former Goldman Sachs executives have been running the department of finance for a while. And look where they have lead us Link to post Share on other sites
Pot Odds RAC 23 Posted October 8, 2008 Share Posted October 8, 2008 The question is where will it be at when the Obama administration is over. By the way CEOS of companies don't really care about their investors.Sure they don't.Ever hear of a stock option? Link to post Share on other sites
Pot Odds RAC 23 Posted October 8, 2008 Share Posted October 8, 2008 Former Goldman Sachs executives have been running the department of finance for a while. And look where they have lead usI guess a substitute Teacher would have been the better option....and provide any sort of proof that Paulson is tainted or you're just another conspiracy theorist and we might as well discuss Area 51 Link to post Share on other sites
gradin123 0 Posted October 8, 2008 Author Share Posted October 8, 2008 The secretary of finance shouldn't be anyone associated with Wall Street at all. Wall Street execs are the ones who got us into this mess. Yet we are suppose to trust them to get us out of it? Link to post Share on other sites
El Guapo 8 Posted October 8, 2008 Share Posted October 8, 2008 The secretary of finance shouldn't be anyone associated with Wall Street at all. Wall Street are the ones who got us into this mess. But yet we are suppose to trust them to us out of them?Then who is going to do it? An 8th grade econ teacher? You are delusional and lumping everyone together. Link to post Share on other sites
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