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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (64657)	6/27/2006 11:53:55 AM
From: gregor_us	Respond to of 110194

Oil Remains Insanely Cheap: For 4 Gallons, My Wife and our two children, and clothes and equipment, can go 120 miles to my mother's house near the beach, in our Nissan Altima. That's 12.00 USD. Can anyone tell me where I could hire manual labor to take us on the same journey? It could be a long ride for sure, in the back of a horse-drawn cart. And those horses need oats, and water. Oil would still be a bargain, at double current prices. The energy you get in trade for your USD is astounding. If Americans want oil prices lower, they need to think about making their currency stronger, in addition to all the other moves we need to make, as a nation. Checkbook George however is spending as fast as he can, and Paulsen and Bernanke have their marching order to "do what they want, as long as it doesn't interfere with the spending."* It's a nice of Goldman to keep weighing in on the price of Oil. It gives the impression they have something to do with it, that they know. Our culture has many mythologies to explain the price of Oil, so thinking Goldman has something to do with it is probably reassuring. It also serves the purpose of getting people to argue over "what Goldman thinks", which spares us from the work to decide for ourselves. I look forward to President Hillary Clinton's special subcommittee in 2009 to investigate oil prices at the 110.00 level. I can see it now: if we could outlaw the Futures market and shut down NYMEX, and ICE, then the "oil price" would come down. Gregor *As a share of the economy, the deficit remains "in a realm of historical norm," Paulson said, and can be addressed by maintaining economic growth. --Jun 27, 2006 (formerly posting as lambeth-palace.)

To: ild who wrote (64657)	6/27/2006 12:13:34 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 110194

i think the Minyanville site is greatly improved now thanks to the new Buzz and Banter functionality.

To: ild who wrote (64657)	6/27/2006 2:09:36 PM
From: ild	Read Replies (1) \| Respond to of 110194

Date: Tue Jun 27 2006 13:55 trotsky (Bizarro@Kuenstler) ID#248269: Copyright © 2002 trotsky/Kitco Inc. All rights reserved ""Nobody is talking about the much more likely prospect that we'll have to reduce motoring drastically, and make other arrangements for virtually every aspect of daily life, from how we get food, to how we do business, to how we inhabit the landscape." oh please...Kuenstler's apocalyptic whining is really getting old. nobody's talking about that because it's not worth talking about. if changes need to be made, the market will inform us of that by raising the price of oil sufficiently. as long as the market doesn't do that, we have no reliable signal to induce change, iow, it would be a wasted effort. besides, contrary to the interventionists ( and make no mistake, ALL the peak oil doomster prophets are urging and pining for massive state interventionism ) i would reserve judgment on whether running out of oil means the end of modern civilization. if it does, there's nothing that can be done about it anyway. otoh, if the market can find a solution, it WILL be found. this is like the whale oil crisis of the 1830s - 1850's ( the price of whale oil, then the major lamp fuel , rose by 540% during the period ) . it was solved by the invention of kerosene in 1856. by 1896 the price of whale oil had fallen 35% BELOW its 1831 low ( the beginning of the crisis ) . needless to say, this major 19th century energy crisis ( note that in the 1860's the biggest worry was 'peak coal' ) was solved without a single attempt by government to intervene in it.