Les; I'm just a simple Capt that has worked in the offshore
oil fields since the 60s. I have seen two major oil shortages
that were not real just contrived and shoved down the
publics throat to get oil prices up. After both of them we had
serious problems and major unemployment.
I read the article, and it's so far out of touch with reality
it's hard for me to explain it. Where he got his information is
beyond me..looks like he wanted to make a point to start with,
and grabbed some particular extreme statistics that would support his
point, but left out the real meat.
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I don't know what to say except it's more BS than fact,
I'm not very articulate so to argue with it is more of a job than
I want to get into.
It does hold some truth , but if person who hasn't followed the
course of events around oil, reads this he won't know the truth
from the fiction. I guess most people see what they want to
anyway, and it looks like journalist just write any kind of
crap they want to. I could punch holes in it , but what
good would that do.
When I first came on SI in 96 I was telling people to buy oil
stocks, I was long on them before that. I took a good look
as oil prices dropped and Asia went down and was saying sell
oil stocks in late 97..I was a little early but ahead of the
curve.
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Let us hope and pray that oil prices stay down , or you will
see the unemployment lines come back sooner than you want to.
High oil at this time will finish off Asia, and damm near
cripple us. That's a fact.
Oil is priced into every thing you buy, one way or another
it permeates into the cost of every thing. OPECs price
fixing at the urge of some multinational companies should be
looked on as an atrocity and crime against humanity.
Same as all those loaded tankers sitting on anchor offshore
for as far as the eye could see, when big oil fabricated an
oil shortage story, and the news media never had sense enough
or gumption enough to look beyond the end of their nose.
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Last thanks to new technology we can find, drill , and recover
oil now cheaper than ever before, the recent high prices of oil last
year and in 96 was nothing but price gouging , and they got away with it. It also baited people into re-working a lot of depleated and
marginal oil wells that recovery cost is high on..but that was
stupid to start with.
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Jim |
