SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Technology Stocks : Semi Equipment Analysis
SOXX 299.81+2.7%Dec 19 4:00 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Proud_Infidel who wrote (15284)5/20/2004 3:39:01 PM
From: The Ox  Read Replies (1) of 95616
 
We've been seeing these types of reports for years. I used to follow the oil industry closer then the semis and I've been reading these dire predictions for a long time. The basics of the oil markets are not as closely tied to supplies as one might think. In my opinion, the main influences on the price of oil (or nat.gas) are the traders, not the supply and demand metrics. One look at how the prices were manipulated during the California gas mania gives one a clue. While there were shortage issues, it was the traders who created the astronomical prices - clawing and gouging the citizens. Now, the idiots in the California government created the proper environment to get raped by the traders. They had the opportunity to lock in long term contracts around $2.50/mcf a few years before the disaster struck and those in charge were afraid to lock in the prices (since they thought NG prices were going lower).

I think we currently have the traders running up the crude oil prices, with the basic approval of our President. We are currently buying and storing oil in the strategic reserve at substantially inflated prices and this is just another way of keeping the upward pressure on oil prices. Most investors would sell while the prices are high and wait to buy when the prices are low...but not our current administration. Forgive the political slant but these are the realities of the situation we find ourselves in.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News