Big Dog's Boom Boom Room Message Board

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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Paul Kern who wrote (101815)	5/30/2008 8:32:02 AM
From: GREENLAW4-7	Read Replies (1) of 206323

Paul, my experience in the patch has always lead me to believe that too high prices actually hurt the producers and the sevice co's including the drillers. I gave the example back in the late 90's when crude bounced back from $10 to the $25-30 area most OSX companies were screaming that they needed stability in oil price for better profits. Thats why you now have excessive expenses in this cycle the highest ever. I have my own sources and from what I understand the Electronic ICE has been the vehicle used by the large institutions to put a fire under the bid, as they do this the Hedge's follow suit on the NYMEX. In my trading model they only have 90 days to take oil to 150 if they want to, and I believe they could. The problem of course is the effects on this will be much longer lasting then the pit traders could careless about. Am I surprised at the move from 85 to 137....only by the response of the Government. Anyone other then GWB would have opened the SPR like Clinton use to do. But someone gave the big boys the tip that threat is off the table. But come this early fall we will see. In the mean time I play the index's and wait. GL

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