Oil Company and Oil Company Boycott Talk

[Greyfoxx]

A lot of smart people are beginning to believe this bull market will die hard. Whether you agree or not, it's worth listening to their side.
According to Michael Lynch, President of Strategic Energy & Economic
Research, oil has now become "the mother of all bubbles." He has a few pertinent facts on his side.
The U.S. is the world's largest oil consumer. Yet our economy is in a slump. Despite the sharp rise in oil prices this year, oil demand in the U.S. is actually down 2% so far.
According to the federal Energy Information Administration, high prices and a weak economy will knock down U.S. oil consumption by 90,000 barrels a day this year.
The situation is similar in many other parts of the world. The International Energy Agency (IEA), the Paris-based energy watchdog of the world's richest nations, just lowered its forecast for world oil demand growth by 460,000 barrels a day. The IEA also sees supply from outside OPEC growing by 815,000 barrels a day, the strongest growth since 2004.
According to Mr. Lynch, "The run-up in price we're seeing in the last six weeks or so has happened while the fundamentals have, generally speaking, gotten bearish."
Tim Evans, an energy analyst at Citigroup in New York, agrees. He says the oil bubble is "still expanding" and insists "there is no supply-demand" deficit.
So far the futures market has shrugged off these arguments. Oil is up roughly 25% this year and prices have almost doubled since the start of 2007.
And who can say? Maybe oil will trend higher. Perhaps much higher, especially if we see a major supply disruption.
But high prices always sow the seeds of their own collapse. Consumers will start to conserve. Producers will search for oil that was once too costly to extract. Supply and demand will come back into balance.
Right now the bulls are having their way. But it would be foolish to believe there are no red flags on the horizon. Chief among these is that you keep hearing "the story."
You know the stories. "The internet changes everything." "They're not making any more real estate." "Oil has nowhere to go but up."
Alex Green, this man knows his bubbles.

 

[lunachic]

A lot of smart people are beginning to believe this bull market will die hard. Whether you agree or not, it's worth listening to their side.
According to Michael Lynch, President of Strategic Energy & Economic
Research, oil has now become "the mother of all bubbles." He has a few pertinent facts on his side.
The U.S. is the world's largest oil consumer. Yet our economy is in a slump. Despite the sharp rise in oil prices this year, oil demand in the U.S. is actually down 2% so far.
According to the federal Energy Information Administration, high prices and a weak economy will knock down U.S. oil consumption by 90,000 barrels a day this year.
The situation is similar in many other parts of the world. The International Energy Agency (IEA), the Paris-based energy watchdog of the world's richest nations, just lowered its forecast for world oil demand growth by 460,000 barrels a day. The IEA also sees supply from outside OPEC growing by 815,000 barrels a day, the strongest growth since 2004.
According to Mr. Lynch, "The run-up in price we're seeing in the last six weeks or so has happened while the fundamentals have, generally speaking, gotten bearish."
Tim Evans, an energy analyst at Citigroup in New York, agrees. He says the oil bubble is "still expanding" and insists "there is no supply-demand" deficit.
So far the futures market has shrugged off these arguments. Oil is up roughly 25% this year and prices have almost doubled since the start of 2007.
And who can say? Maybe oil will trend higher. Perhaps much higher, especially if we see a major supply disruption.
But high prices always sow the seeds of their own collapse. Consumers will start to conserve. Producers will search for oil that was once too costly to extract. Supply and demand will come back into balance.
Right now the bulls are having their way. But it would be foolish to believe there are no red flags on the horizon. Chief among these is that you keep hearing "the story."
You know the stories. "The internet changes everything." "They're not making any more real estate." "Oil has nowhere to go but up."
Alex Green, this man knows his bubbles.

I read this and to be honest I don't understand, so I found the peak oil page and read the post and about this guy Michael Lynch.I still don't understand and in tring to figure this trading stuff it sounds to me we r screwed.
I have a question, they keep bring up realestate, but even when it was booming intrest rates by law had to be followed within the guide lines on the % rate, Am I right, excluding hard lenders. So since their are know caps on oil, We can look at the Gov. as hard lenders, they can take it to what ever level they want. Why can't they put a cap on the rate?
If oils on the stockmarket, and it holds the cards for everyone in the world,
We can't survive at this time with out it.
What would happen if the traders stopped trading on it?
Don't mean to sound stupid just tring to figure it out.
tks

 

[Greyfoxx]

I read this and to be honest I don't understand, so I found the peak oil page and read the post and about this guy Michael Lynch.I still don't understand and in tring to figure this trading stuff it sounds to me we r screwed.
I have a question, they keep bring up realestate, but even when it was booming intrest rates by law had to be followed within the guide lines on the % rate, Am I right, excluding hard lenders. So since their are know caps on oil, We can look at the Gov. as hard lenders, they can take it to what ever level they want. Why can't they put a cap on the rate?
If oils on the stockmarket, and it holds the cards for everyone in the world,
We can't survive at this time with out it.
What would happen if the traders stopped trading on it?
Don't mean to sound stupid just tring to figure it out.
tks

What I do is research the cause and effect of the gov's poor management practices. The real estate debackle was a result of the Gov not using the exsisting RICO laws to control the greed behind the explosion in real estate prices. Now the rich are looking for new ways of adding to their bottom line by taking advantage of all the foreclosures. The real estate investment funds are right now buying homes for pennies on the dollar. Its the same ols story, when an investment bubble pops a new flock of vultures move in. This isn't anything new its just another symptom of how greed can corrupt the capitalizim system if allowed to.

The oil debackle is just another manipulation of a different market. Just as the real estate market found it's top, the crude oil and gasoline market will find it's top, and when it does the bottom will drop out of the crude oil market. It's Economics 101. The amount of crude that is about flood the market in the next year will kill the crude speculators who believe the myth that we are running out of oil in the world is a reality. It's just more of the same turn around story, another word for it is Karma.

There is so much more to learn about investing by watching a gage full of chaps, than watching a TV screen full of chumps on Fox Snews. You know it's spring when the insanity on Fox is in full bloom.

Also, from now on all of my posts will be at "READ HAVE TO READ THIS" 500 billion bla bla bla .......

 

[lunachic]

drop 73

Hi,
explain to me what would happen,
If a bank was picked to boycott, and everyone withdrew their money, and the bank was A private owned one.

 

[Tn. Truckers Wife]

Hi,
explain to me what would happen,
If a bank was picked to boycott, and everyone withdrew their money, and the bank was A private owned one.

I think we should stick with boycotting oil companies and maybe thow in there the truckstops one at a time. That's just my opinion.

 

[lunachic]

I think we should stick with boycotting oil companies and maybe thow in there the truckstops one at a time. That's just my opinion.

I agree, but I't wont hurt to throw in a large trucking company, under many names who own's their own bank's. in this state for the driver's who live here.
Sorry this is personal, nothing has been mentioned about nothing in this State. Just like the Elections, It goe's the way the money pay's. Screw everyone else...................
I belive we need to take notice and action, on Florida.
We do have tourist,
Suck ass new's stations, and paper's............................
But we are sitting on 2 state lines.
Al. Ga.only way in and out..................
Let me tell ya a story.
The trucks are waiting in the field to load,
The worker's mexican.
they go to lunch,
non leagle.
Don't come back.
phone call, they have been busted, pot and drinking..........
with in 1 hour bailed out, back to work.
a couple weeks later,, they are gone .
guess where? it's ok plenty more...............
Alot of you are not dealing with a State that might lose english as our Lang.
When You call any office in your state do you hear Press 1 for English.
Why the hell should I? When I go further south towards Miami, Do you know I cant read the billboards...........
I can tell ya, I'm really not hateful towards anyone, It's just I was born and raised in America. This is my country, why if I go to another country don't they extend to us what we do to them.
I'm sorry having a bad day...........It will get better.................
I did'nt spell ck sorry.

 

[drop73]

Just as I predicted would happen more than a week ago if the Fed Reserve cut the interest rate. Oil dropped temporarily and now it has gone back up and hit the $120.00 per barrel level. It is not going down any time soon.

 

[lunachic]

Just as I predicted would happen more than a week ago if the Fed Reserve cut the interest rate. Oil dropped temporarily and now it has gone back up and hit the $120.00 per barrel level. It is not going down any time soon.

Yes You did, Your world line is not like our's.
we can scream shout rally protest,
but know one will listen.
What do we do?

 

[drop73]

Yes You did, Your world line is not like our's.
we can scream shout rally protest,
but know one will listen.
What do we do?

lunachic

At this point, what is feeding the frenzy speculating into oil is the speculating that Countrywide Financial is about to be abandoned by Bank of America. The fear is that such an abandonment could bring into question the over-the-counter derivatives that Countrywide holds, and hence the larger domino affect on the other trillions of dollars worth of OTC derivatives that are being held by other companies (investment banks). Investors fearful of such a sudden potential stock market decline are jumping into gold and oil, and not converting to cash assets, to protect themselves.

To be quite honest, the same thing that happened with Bear Stearns could very much happen to Countrywide Financial. Right now, all the balls are in the financial sector's (big banks' & Fed's) court. All of us common folk that actually earn our living by getting our hands dirty don't have much other than our voice and our vote. The vote would be to get a President into office that actually supports the full-reinstatement of the 1933 Glass Steagall Act (that was taken apart in the 1990's and kept commercial banks and investment banks separated) as well as a Congress that can give the Securities and Exchange Commission extended powers to regulate Hedge Funds by forcing them to register Hedge Funds of any kind. From where I sit, what the banks are doing to not own up to this dangerous economic situation they've created is VERY DISTURBING. It has created a system where banks are free to make major mistakes that hurt the economy in big ways without any accountability and additionally force the common taxpayer to bail them out and foot the bill through larger national debt. Oil prices going up is a side effect of this kind of bad regulation in the banking industry. Imagine if Enron was allowed to get away with what they did back in 2001. Banks are not being held to Enron-like consequences. This cause-effect relationship between deregulated banking practices and oil needs people in Congress that understand it and a President that is willing to get tough with the Fed Reserve and banks and limit their exploitation of the common taxpayers.

 

[lunachic]

lunachic

At this point, what is feeding the frenzy speculating into oil is the speculating that Countrywide Financial is about to be abandoned by Bank of America. The fear is that such an abandonment could bring into question the over-the-counter derivatives that Countrywide holds, and hence the larger domino affect on the other trillions of dollars worth of OTC derivatives that are being held by other companies (investment banks). Investors fearful of such a sudden potential stock market decline are jumping into gold and oil, and not converting to cash assets, to protect themselves.

To be quite honest, the same thing that happened with Bear Stearns could very much happen to Countrywide Financial. Right now, all the balls are in the financial sector's (big banks' & Fed's) court. All of us common folk that actually earn our living by getting our hands dirty don't have much other than our voice and our vote. The vote would be to get a President into office that actually supports the full-reinstatement of the 1933 Glass Steagall Act (that was taken apart in the 1990's and kept commercial banks and investment banks separated) as well as a Congress that can give the Securities and Exchange Commission extended powers to regulate Hedge Funds by forcing them to register Hedge Funds of any kind. From where I sit, what the banks are doing to not own up to this dangerous economic situation they've created is VERY DISTURBING. It has created a system where banks are free to make major mistakes that hurt the economy in big ways without any accountability and additionally force the common taxpayer to bail them out and foot the bill through larger national debt. Oil prices going up is a side effect of this kind of bad regulation in the banking industry. Imagine if Enron was allowed to get away with what they did back in 2001. Banks are not being held to Enron-like consequences. This cause-effect relationship between deregulated banking practices and oil needs people in Congress that understand it and a President that is willing to get tough with the Fed Reserve and banks and limit their exploitation of the common taxpayers.

I heard today that the Bear Stearns bail out was not going to hold. And I thought Countrywide's Debt. was to big for Bank of America?
Let alone Bank of America's.
I guess we are really screwed, The only way out is neither Dem. or Rep.
I have been watching the debates somewhat. Know one running has a sure fix to our country problems. What I dont understand is how by not sure if it's the right word but law, They got away with this.
Congress is not above our means. It's a 2year run, maybe we should start getting ready to set into place blue collar worker's as candidate's for public office. In all area's.................................

 

[BANDIT]

Big oil keeps right on going. They just keep rubbing it in our faces.....Yesterday here, unleaded reg. went from $3.53 to $3.65 per gal. . They also said on local news that "Experts" say that oil will reach $300 per barrel within a yrs time. We really need to stop this raping of American Citizens now. We can't wait till it reaches $300. Please wake up America. I know there are many other issues that plague us truckers today, but right now the biggest and most important is the cost of fuel to operate. We have got to get this stopped and brought back down to a manageable cost before it breaks all our backs and puts us out of business. All the rest of the concerns aren't going to help us a bit if the oil companies keep stealing more and more money right out of our pockets at the pumps. We need to get this stopped now for ourselves and for the American People before it's too late. Once we get our operating costs to where they are manageable, we will be much stronger and able to fight the rest of the battles. We are now having to fight with one arm tied behind our backs, and our legs shackled. Break the bindings first, then come back fighting. We need to get organized and come up with really good plans to put a stop to Big Oil Rapes. Please post any and all info and suggestions and most of all, any ideas on what we need to do to win this first battle. Ya'll Have An Awesome Day

 

[Greyfoxx]

Close your Citi Bank accounts now.

Hi,
explain to me what would happen,
If a bank was picked to boycott, and everyone withdrew their money, and the bank was A private owned one.

Citi Bank may be the next bank to go belly up, unless the Fed throws a few billon dollars at them or the Arabs bail them out.

I just closed all accounts with Citi, being concerned they could go the way of Bear Sterns. Citi is raising interest rate even for their best customers. When I called yesterday because they had no logical reason for raising my interest rates from 9.77 to 22.77. I had the choice of opting in or out, I choose out, and closed all accounts.

We do need to boycott banks by opting out of any and all interest hikes. I say if your with Citi Bank, get out now while you can.

 

[Cerberus]

Citi Bank may be the next bank to go belly up, unless the Fed throws a few billon dollars at them or the Arabs bail them out.

I just closed all accounts with Citi, being concerned they could go the way of Bear Sterns. Citi is raising interest rate even for their best customers. When I called yesterday because they had no logical reason for raising my interest rates from 9.77 to 22.77. I had the choice of opting in or out, I choose out, and closed all accounts.

We do need to boycott banks by opting out of any and all interest hikes. I say if your with Citi Bank, get out now while you can.

bank of america has been busted for doing this also. they did it to a good percentage of there credit card holders. when asked about it they didn't deny it either and they had some opt out option too. but it wasn't as clean and cut as that.

Bank of America blindsiding cardholders? - MSN Money


Rip-offs: Why Is Bank Of America Raising Interest Rates On Its Good Customers?

 

[freaking rookie]

Lunichic and others, What can we do? Read my comments at "One battle at a time" thread. We are in a no win situation. FREAKING ROOKIE

 

[Flatbedpete]

Lunichic and others, What can we do? Read my comments at "One battle at a time" thread. We are in a no win situation. FREAKING ROOKIE

You may think we are in a no win situation, you need to set a standard rate that you are willing to haul for. With the national average at 4.29 take this number and divide by 5 then take that number and multiply by 3. That is the minimum per mile rate you should pull for. Today that number is $2.57 and that includes the fuel surcharge. Remember that is the minimum based on a loaded 5 miles per gallon. If you feel that is high you can change that with the first number by using a 6 mpg or 7 mpg if you choose. We use 5 and do know our trucks are getting 6 to 7.
Price of fuel at national average divide by mpg times 3 will make you a reasonable profit to cover the fuel, maintenance, operating expenses and labor rate. Now you think we have no chance. You are wrong. If we don't haul freight for less than what I have said. The brokers are not getting paid to just sit their either. The companies who are not moving freight are not getting paid. The shippers who need to move the freight are not getting paid. The receivers who need the freight are not getting paid. The consumer who needs the product is not getting paid. The general public is not paying because it is not on the shelf or the cost is to high. Jobs are starting to get cut. People are signing up for assistance because they are unemployed. Companies are starting to cut back on help or closing their doors. The government is having to pay out on unemployed people in large numbers. When the unemployment rate goes above 5% the government is required to extend unemployment an additional 16 weeks. So more expense to the government. People and companies start to become late or not pay at all on their loans. Banks are getting put in more of a strain because of bad loan practices. The Federal Depositors Insurance Company is not going to bail out the banks for bad loans, but will pay back people of the bank that had money in the bank in good standing if the bank goes bankrupt. It has already started here, when people get hungry, they use their credit card to pay for food. The credit card industry has reported record purchases showing a spike in the economy, but fails to tell the truth if the people don't pay their credit card bills they will be heading for bankruptcy also and they are not backed by the FDIC in the same manor as a regular bank. When this hits, I am guessing it will be this around the end of this month, you will see the stock market reports hit with major losses and watch the market start sliding. We cannot afford another rate cut because the more we devalue the dollar, the more it will raise prices all around us. If the prices are raised we will stop purchasing anything but what is mandatory, and this means further businesses that make and sell things of no real need will fail. When people can't pay their utility bills and have their electric cut, heat, air conditioning and water, this is when I believe the Marshall law will be enacted. Now here is my solution to the problem and it is simple. We need to raise the interest rate back to 10%. This will make people start saving money again with incentive to do so. We need to open up our oil wells and refineries. This puts people back to work. We need to start fixing our infrastructure, so this will put people back to work on our roads. If we pay these people a living wage they will be earning good money that the government gets back in income tax, and the people will have money to spend to pay bills they owe and also allow them to by things they want. This means businesses start making and selling things again putting more people back to work and paying in. Then we start hauling more at a good rate. We have the ability to produce just about anything we need right here in our own country. We came out of a depression many many years ago and did fine until the last few years. We can do this again. This whole thing right now starts with us. DON'T HAUL ANYTHING FOR LESS THAN WHAT WE DESERVE. IT IS TIME FOR ACCOUNTABILITY AND THE TIME IS NOW!

 

[Tn. Truckers Wife]

Not trying to argue Flatbedpete, what your saying I agree with you but the reality is if you wont haul the freight cheap there are others who will. How do you get the idots to stop hauling cheap freight. What is will take for some is when the truck breaks down and they have no money to fix it. Then they are out of business. There are thousands of drivers being put out of business each month. Very soon there will be a serious shortage of drivers and either rates will have to increase for drivers to haul the loads or the Mexican's will take over. I believe one of the two of these things will happen.

 

[Flatbedpete]

Not trying to argue Flatbedpete, what your saying I agree with you but the reality is if you wont haul the freight cheap there are others who will. How do you get the idots to stop hauling cheap freight. What is will take for some is when the truck breaks down and they have no money to fix it. Then they are out of business.

Agreed, with fuel as high as it is think about it. How do you haul freight at such a low rate. The end is very very near. Sure a breakdown will put them under. But so will not eating and paying your bills. If a driver cannot pay for fuel and have enough earnings to cover normal operating expenses, how is he going to have money to pay his household bills and eat. HE CAN'T. I have been set up with the practice if you do not have enough money in the bank to survive at least 3 months, you are flat broke. This is nothing other than reality. Its not just us the drivers or O/O, this now is effecting the general public. It has started to really show that the general public is in enough of a bind that they have to make choices on can they afford to drive 20 or thirty miles or more one way a day to go to work and still have money left over to pay the utility bills and loans they have. Do they have the money to buy food and necessities just to exist. Many of the problems we have today are brought on by our selves. But for the others who did not ask for this, they are also suffering. I am sorry for the ones who have failed and gone broke. But now is the time for those who did go out and the ones who are about to to go and sign up for government assistance. You are entitled to it so why not do it. This will further complicate the government with additional costs they were not planning on. Just to give you an idea of how bad it is getting, 40 miles from me is Chicago, in less than a three week period in the last month there were wild outbreaks of gun shootings, gang warfare, major increase of break ins and theft. The temperature was only in the 70s. Wait till the temp hits the 90s and 100s. This is going to become a normal thing in the next month. Just think about the major increase of spending in the last few weeks. It was done with credit cards and was used for food. We are very close to seeing what the government response will be when the credit card companies have to start reporting they have far to many and far to high amount of losses due to no one paying their bills. How do you think the stock market investors will take to this. They will dump what they can. To invest in oil is fine, but when no one pays the price because they refuse to or can't, will do nothing more than hurt them. The oil companies can raise the price to what ever, if they have no one able to purchase it, they lose also. Bankruptcy is at a all time high and no longer excuses someone from the debt and interest until it is settled. The time is near when people can no longer afford to go to work. No work no money for anyone. I am not worried about this at all. I have no way to change it and no way to control it. Even with the money I have, I could be flat broke right along side of you if this continues to take a crap. The problem the government has is they are going to have to deal with people who have worked their whole life to get what they have today, and if we are stripped of that, anarchy will prevail in this situation. This is why the government is trying to change the second amendment.

 

[Flatbedpete]

TORT LAW IS THE RUINATION OF OUR SOCIETY. Read up on it, tort law excuses the government and its employees of all crimes they commit.

 

[Tn. Truckers Wife]

I appreciate what you are saying and i agree. I haven't looked at things in such debth as you have. Sure is a very grim picture of where our country is heading.

 

[Flatbedpete]

I appreciate what you are saying and i agree. I haven't looked at things in such debth as you have. Sure is a very grim picture of where our country is heading.

I don't mean to sound so negative about just the trucking industry, this is a reality and it effects everyone and everything. The small effect we now causing on the trucking industry is far stronger than you think. It is effecting all sectors of business, and now the general public. When the public hurts, the whole country does.