Oil Rises to $135 A Barrel - Page 2

August · 05-23-08, 12:10 PM

Quote:

Originally Posted by SUBMAN1

Quote:

Originally Posted by August

Quote:

Originally Posted by Skybird

For historic reference: oil price before the Iraq war: below 30 $US. highest oil price ever reached before 2003: around 36 $US.

More historical reference:

Price before Skybird came to this forum: Below $30 US. Price of oil when Skybird reached 10k posts, over $100. Think about it...

Same analogy. Good post August.

-S

His minions are probably complaining to Neal as I type this...

Skybird · 05-23-08, 01:49 PM

Happy biker (non-motorized

) over here, skater as well!

Need no car, want no car, never had a car, have no use for a car.

Platapus · 05-23-08, 02:33 PM

Quote:

Originally Posted by August

Quote:

Originally Posted by Skybird

For historic reference: oil price before the Iraq war: below 30 $US. highest oil price ever reached before 2003: around 36 $US.

More historical reference:

Price before Skybird came to this forum: Below $30 US. Price of oil when Skybird reached 10k posts, over $100. Think about it...

August, Good job of pointing out the ole Post Hoc Ergo Proctor Hoc logic fallacy.

Or as we analysts say in English: Correlation does not mean causality.

Here is another one for you

We have not had a terrorist attack in the United States since the TV program "24" has been on. I think AQ is afraid of Jack Bauer.

August · 05-23-08, 02:35 PM

Quote:

Originally Posted by Platapus

We have not had a terrorist attack in the United States since the TV program "24" has been on. I think AQ is afraid of Jack Bauer.

Heck, isn't everybody?

Schroeder · 05-23-08, 06:01 PM

Quote:

Originally Posted by August

I have. A couple people at work have gotten those Honda Prius's (sp?) and several of them ride motorcycles when weather permits. I have even moved within walking distance so my vehicle stays in the garage all week long unless i need to run to the store or something.

Cool.

joegrundman · 05-23-08, 07:44 PM

Quote:

Originally Posted by August

Interesting bit from your link Joe.

Quote:

Whenever you begin to hear market gurus decree that "this time it's different," as we did during the dot-com bubble and the housing bubble, that's a sure sign of danger in the market. Naturally, proponents of the peak oil theory claim that the recent run up in prices is evidence that the end is nigh. Evans responds, "Fears of peak oil are what this market has in common with the 1980s, not what is different." Recall that during the "oil crisis" of the 1970s when oil prices were as high as they are today, U.S. oil consumption declined by 13 percent between 1973 and 1983. The higher prices of the 1970s led eventually to an oil glut and prices fell to about $10 a barrel by 1986.

So you agree with the article, that it is the nexus of global instability, weak US economy and Wall Street herd instincts that is causing this spike

the article seemed (but correct me if i'm wrong, i found specualtioin hard to follow) to link the effect of wall street speculators to the weak dollar, so the falling dollar had 2 effects on the price.

If so, does this mean the falling dollar IS a big problem? How soon can we expect it to come back? or should oil trading be more currency flexible in future so trading can switch to whichever currency is better on the day?

05-23-08, 01:49 PM	#17
Skybird Soaring Join Date: Sep 2001 Location: the mental asylum named Germany Posts: 42,611 Downloads: 10 Uploads: 0	Happy biker (non-motorized ) over here, skater as well! Need no car, want no car, never had a car, have no use for a car. __________________ If you feel nuts, consult an expert.