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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: SliderOnTheBlack who wrote (383)	8/11/2005 5:16:14 PM
From: Chaka	Respond to of 50085

I simply do NOT understand either Oil, or Gold Bulls who want to deride anyone selling and taking profits in this environment.... RING THY REGISTER ~ MY BRETHERN ! I did unload half my position in oil in May (mutual fund bought over a year earlier) but everytime I look at the other half, I don't feel so good about ringing the register :-) Seriously, I agree that oil is becoming detached from reality but so has a number of other areas (stock markets, housing, etc.) It does feel strange for both gold and oil to simultaneously rise over extended periods of time but I am enjoying it!

To: SliderOnTheBlack who wrote (383)	8/11/2005 11:21:19 PM
From: TheSlowLane	Respond to of 50085

"While Matt Simmons ratchets up the Cassandra level - predicting a 10-15 fold increase in Oil Prices and the basic Economic Collapse of the Modern World" Actually he said 5-10X, if demand outstrips supply by 2-5MM barrels a day. Where did he predict the "Economic Collapse of the Modern World"? I just read his book and did not find that in there. He claims to be an optimist but thinks that high oil prices are actually necessary to spur the development of technologies that we will ultimately need anyway. Finally, the 200 SPE papers that he analyzed, the ones that were published with consent of ARAMCO...were those all wrong too? I am all for dissenting opinions, but it is more useful if they are informed and are not based on misrepresentations of the opposing view.