|
|
Post by Grainbelt on Oct 3, 2011 19:47:41 GMT -5
BTW I think what's going in the US crude oil industry is stupidity beyond compare. 51% of all of the drilling rigs operate in the US. Why in HELL do we think we need to piss through our oil reserves like there was no tomorrow. One day we will wake up and realize we don't have any oil left. A country totally dependent on others for their energy is not a very safe and secure country anymore. The oil deficit countries that are able to add the most economic value/barrel of oil imported will be just fine. |
|
|
|
Post by ses on Oct 3, 2011 20:03:58 GMT -5
BTW I think what's going in the US crude oil industry is stupidity beyond compare. 51% of all of the drilling rigs operate in the US. Why in HELL do we think we need to piss through our oil reserves like there was no tomorrow. One day we will wake up and realize we don't have any oil left. A country totally dependent on others for their energy is not a very safe and secure country anymore. The oil deficit countries that are able to add the most economic value/barrel of oil imported will be just fine. Yep I agree, but...that ain't us. |
|
|
|
Post by thirsty on Oct 3, 2011 20:52:35 GMT -5
"no more Arab problems"  Study up on the caliphate that muslims want. You infadels really need to read the Koran. Every dollar we export to buy their oil, means one less dollar circulating within our US economy. Producing our own energy is good for the US economy, employs more people, boosts the spending power of US citizens. Firstly, you have never read the Koran. Secondly, your idea of keeping dollars in country is just about the dumbest thing I've read of yours yet. It would result in $800 barrel oil in a heartbeat, $50 cup of coffee and a $200 steak sandwich. Every dollar spent offshore buying much needed commodities is nothing but 'win'. It offshores inflation and allows America to kick the can another day down the road. |
|
|
|
Post by thirsty on Oct 3, 2011 21:10:19 GMT -5
I'm okay with $50 oil by February, and if the monetary powers that be want to firesale the rest of the commodity complex I'm okay with that too. I'm also okay with every single primary dealer going down in flames in this hyper-deflationary downdraft as well. Not a bank stock in the world that doesn't look like its going to bankruptcy.... and that is the real game of chicken here, for every dollar drop in the CRB, the chances of blowing up something too big to fail rises drastically. BAC looks like a $10 crackwhore after a couple rounds with Mike Tyson. Morgan Stanley's chart just stumbled out of a 400 man Bukakke video. Goldman Sachs licks ballz and JPM is tossing the salad. Bill Gross of Pimco fame wrote a good editorial on financial assets today. I read it and could not agree with him more. Says the era of even marginal returns on financial assets is so like over, I'm thinking the rest of the world is gonna get the message this winter.... www.zerohedge.com/news/bill-gross-starts-q4-cold-shower-forget-double-digit-returns-bonds-stocks-and-real-estate-are-o |
|
Study up on the caliphate that muslims want. You infadels really need to read the Koran.