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Politics : Actual left/right wing discussion -- Ignore unavailable to you. Want to Upgrade?

To: Peter Dierks who wrote (2430)	10/7/2006 12:03:50 PM
From: Keith Feral	Read Replies (1) \| Respond to of 10087

I have to be honest, one of the reasons that I am active on the political threads is to keep up with my asset based investments, mainly, oil stocks. The other reason is my unending desire to support the US against the war on terrorism. I can tell you without question that some of the liberal hotheads are all armed and dangerous with huge interests in the oil sector too. They like to spew about conspiracy theory that Bush and Cheney are out to make themselves rich with Iraq's oil fields. In reality, they are all stuffing as many shares of the oil companies as they can get in their etrade accounts. I guess that makes me kind of a dumb ass to root against the end of terrorism which has tightened control of the oil markets as demand has been trending higher the past few years. It doesn't surprise me to see all the liberals say they don't see any progress in the war on terror. They think the infinite violence will keep the geopolitical risk in the energy markets to inflate the price of oil. In reality, the only thing that is going to keep demand for energy is strong global growth. All of the terror is bad for global growth and has a negative impact on the demand curve. The threat of terrorism is on only a negative on the supply curve, which may raise prices in the short term. There is absolutely no rationale for terror on oil prices, unless we accept some ridiculous threats by Iran they will cut off the oil supply if we don't let them have nuclear weapons. Nonetheless, OPEC is returning to it's senses that it doesn't make any sense to overproduce 1 million bpd of crude, it is destroying the refining margins and producing a glut of gasoline. The biggest increase in the demand curve for oil has been the reduction of fuel prices in the past 2 months since the Israelis knocked the shit out of Hezbelloh. I have to admit that I am back to filling up my tank on a regular basis at $2.50 a gallon. I hated to fill up my tank at $3.25 a gallon this summer. It creates a negative substitution effect in which I choose not to go anywhere. The markets have us convinced that gasoline at $2.25 to $2.50 is a bargain. The same will be true with nat gas this winter. I can't wait to run my heat all winter long without staring at $500 or $600 nat gas bills. The utility companies raped their customers last winter with the high price of nat gas. I expect to see more robust demand this year. Hell, I even went out and bought jackets and sweaters last year becuase I was so horrified by the heating bills.