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$99 Oil For 11/11/11

Old 11-11-2011, 08:05 AM
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Default $99 Oil For 11/11/11


No one knows precisely at what point oil begins to substantially hinder consumer spending and slow commercial activity — but this much is known: every $1 per barrel rise in oil decreases U.S. GDP by $100 billion per year and every 1 cent increase in gasoline decreases U.S. consumer disposable income by about $600 million per year.


http://investmentwatchblog.com/every...ecent-stimulu/






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Old 11-11-2011, 06:16 PM
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Originally Posted by Eyeball View Post

No one knows precisely at what point oil begins to substantially hinder consumer spending and slow commercial activity — but this much is known: every $1 per barrel rise in oil decreases U.S. GDP by $100 billion per year and every 1 cent increase in gasoline decreases U.S. consumer disposable income by about $600 million per year.


http://investmentwatchblog.com/every...ecent-stimulu/







that is something we all should keep a eye on
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Old 11-11-2011, 06:50 PM
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Eliminate the resale of futures contracts and prices will fall. If you buy a futures contract, you take delivery - period.
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Old 11-11-2011, 07:31 PM
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next 10 years everything is going to swap over to electric and gas will drop back to $ .50 per gallon , but FPL will go up 500 percent .
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Old 11-11-2011, 07:56 PM
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Originally Posted by Eyeball View Post

No one knows precisely at what point oil begins to substantially hinder consumer spending and slow commercial activity — but this much is known: every $1 per barrel rise in oil decreases U.S. GDP by $100 billion per year and every 1 cent increase in gasoline decreases U.S. consumer disposable income by about $600 million per year.


http://investmentwatchblog.com/every...ecent-stimulu/

I'd like to see their math on that. The U.S. exports so much oil that when the price of oil spikes, it kills the trade deficit

Case in point, the GDP didn't crash until Oil crashed in 2008.
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Old 11-12-2011, 05:13 AM
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Originally Posted by kerno View Post
Eliminate the resale of futures contracts and prices will fall. If you buy a futures contract, you take delivery - period.

Correct, that will most certainly help. But, the big players like GS will adapt by buying oil storage tank fields (I speculate). I read somewhere that they have bought (or leased) warehouses for pennies on the dollar in Michigan and are buying up and storing aluminum and creating an artificial shortage thereby controlling supply (and demand) and prices.

If it were up to me I would take it 1 step further. Mandate that anyone buying oil must own a refinery.

You want to see new refineries built in the US? Get GS to want it.
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Old 11-12-2011, 04:56 PM
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Originally Posted by OCLJ View Post

I'd like to see their math on that.

Me too. When I saw it I thought it was states as if everyone already knows it is true. I don't know that it is, but that quote went sort of viral through the financial news websites.
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Old 11-16-2011, 07:34 AM
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That is what crude looks like as it passes $100 a barrel. Last time was July 26th. The folks at Zerohedge are saying this is a $200-billion hit sucked from our GDP. They are now predicting QE v3, giving it an 85-95% probability.
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Old 11-16-2011, 08:07 AM
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Funny you don't hear much about gas prices from the MSM anymore.
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Old 11-16-2011, 09:37 AM
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Originally Posted by A Few Dollars View Post
Funny you don't hear much about gas prices from the MSM anymore.
No stories about granny not being able to pay for $4 a gallon home heating oil either.
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Old 11-16-2011, 12:29 PM
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OIL SPIKES

U.S. crude futures rose more than $2 to above $101 a barrel on Wednesday, on news of plans to reverse the Seaway pipeline in 2012 to relieve an oil glut in Cushing, Okla.



CHANGE
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Old 11-16-2011, 12:40 PM
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Funny you guys were mentioning the stock piling of metals--New Orleans is running out of storage facilities for GS, MF Global, and others.
http://www.nola.com/business/index.s...mited_sup.html
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Old 11-16-2011, 03:51 PM
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Originally Posted by kerno View Post
Eliminate the resale of futures contracts and prices will fall. If you buy a futures contract, you take delivery - period.
I wish that would happen...but unfortunately we can't regulate it everywhere.
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Old 11-16-2011, 05:26 PM
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The libs are smarter than all of us. They are getting what they want.
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Old 11-16-2011, 06:24 PM
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Originally Posted by A Few Dollars View Post
OIL SPIKES

U.S. crude futures rose more than $2 to above $101 a barrel on Wednesday, on news of plans to reverse the Seaway pipeline in 2012 to relieve an oil glut in Cushing, Okla.



CHANGE

You nailed it !!!
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Old 11-16-2011, 06:32 PM
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As I have stated many times before, WE ARE PAYING FOR BP's F*** UP in the Gulf of Mexico
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Old 11-17-2011, 09:53 AM
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Originally Posted by baypro21 View Post
...I read somewhere that they have bought (or leased) warehouses for pennies on the dollar in Michigan and are buying up and storing aluminum and creating an artificial shortage thereby controlling supply (and demand) and prices...
Originally Posted by reeljustice View Post
Funny you guys were mentioning the stock piling of metals--New Orleans is running out of storage facilities for GS, MF Global, and others.
http://www.nola.com/business/index.s...mited_sup.html
Read the article. Not market manipulation; demand is down but the mines don't shut down. Prices and inventory (London Metals Exchange) do not support the theory of stockpiling to create an artificial shortage.

http://www.metalprices.com/FreeSite/metals/al/al.asp
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Old 11-17-2011, 01:27 PM
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Originally Posted by Eyeball View Post
You nailed it !!!
Check this out.

Warren Buffett, the Keystone Pipeline, and Crony Capitalism

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Old 11-17-2011, 02:19 PM
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Originally Posted by A Few Dollars View Post
Check this out.

Warren Buffett, the Keystone Pipeline, and Crony Capitalism


Thanks -- it was a good read. American Thinker has good stuff. My favorite line from the article, a reference to Buffett publicly saying the wealthy should pay more taxes:

"After all, nothing says "I love you" to a Democrat better than a public plea for more taxes."



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Old 11-18-2011, 04:52 AM
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Originally Posted by Eyeball View Post



That is what crude looks like as it passes $100 a barrel. Last time was July 26th. The folks at Zerohedge are saying this is a $200-billion hit sucked from our GDP. They are now predicting QE v3, giving it an 85-95% probability.

I still need to see numbers on this before I begin to believe it. Like I said, the higher oil goes, the faster the trade deficit gets erased, the higher the GDP goes.
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