Showing posts with label Big Oil. Show all posts
Showing posts with label Big Oil. Show all posts
Friday, September 12, 2008
Wednesday, July 09, 2008
T. Boone Pickens On Oil
This is coming from an old skool oil man:
"Can't we just produce more oil? World oil production peaked in 2005. Despite growing demand and an unprecedented increase in prices, oil production has fallen over the last three years. Oil is getting more expensive to produce, harder to find and there just isn't enough of it to keep up with demand.
The simple truth is that cheap and easy oil is gone."
"Can't we just produce more oil? World oil production peaked in 2005. Despite growing demand and an unprecedented increase in prices, oil production has fallen over the last three years. Oil is getting more expensive to produce, harder to find and there just isn't enough of it to keep up with demand.
The simple truth is that cheap and easy oil is gone."
Wednesday, June 25, 2008
Why Is Oil So Expensive?
Does it cost more to get it out of the ground? Is it simply demand vs supply? No, it's effected by pro-war blowhards like Bush and McCain who threaten action with Iran, the weakening dollar, and most importantly by financial institutions trying to make money off of commodities.
"What role financial institutions — pension funds, mutual funds, and hedge funds, among others — are playing in driving up the price of oil to nearly $140 a barrel remains a key question. Regulators in Washington have acknowledged that they do not have enough information on speculative trading in commodity markets. Even though the evidence is incomplete, speculators have nonetheless become prime targets for legislative action."
Unlike mutual funds which can only go long and are regulated, these oil investments are in some lightly regulated markets
"Some analysts who testified before a House panel on Monday estimated that oil prices could fall to around $60 a barrel if speculators were driven out of the commodity market."
And who reaps from the $140 per gallon inflated oil? I would imagine suppliers like Russia, Venezuela, Nigeria and Saudi Arabia are smiling with all our greenbacks in their pockets.
NYT Article
"What role financial institutions — pension funds, mutual funds, and hedge funds, among others — are playing in driving up the price of oil to nearly $140 a barrel remains a key question. Regulators in Washington have acknowledged that they do not have enough information on speculative trading in commodity markets. Even though the evidence is incomplete, speculators have nonetheless become prime targets for legislative action."
Unlike mutual funds which can only go long and are regulated, these oil investments are in some lightly regulated markets
"Some analysts who testified before a House panel on Monday estimated that oil prices could fall to around $60 a barrel if speculators were driven out of the commodity market."
And who reaps from the $140 per gallon inflated oil? I would imagine suppliers like Russia, Venezuela, Nigeria and Saudi Arabia are smiling with all our greenbacks in their pockets.
NYT Article
From The Pen Of: Jim Morin
This is for the people who really believed there were WMD in Iraq. Despite Hans Blix and the UN inspectors finding nothing after 100s of inspections. The "no exit" strategy was the Big Oil strategy set up by Cheney. Use the military to secure another countries natural resources. Classic colonial domination.
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