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How to make a fortune and get all the gas you need
mogley98
Member Posts: 18,291 ✭✭✭✭
Lets see a mathmatical equation, USA uses 20 MILLION barrels of oil a day, (400 million gallons of gas a day!) world production is 85 milion barrels of oil a day, eveen if everything promised goes on line today total production is 100 milion barrels a day! With China, India, and other third world countries growing in both automobile ownership and production the demand will NOT drop no matter how many Americans buy a motorcycle or ride the bus, so buy oil futures and hang on cause the price is going through the roof, but you can still get rich.
Why don't we go to school and work on the weekends and take the week off!
Comments
Margaret Thatcher
"There are three kinds of lies: lies, damned lies and statistics."
Mark Twain
...so... how does one go about taking the gamble? if you had, say, $5,000 to play with, how can one easily invest in oil futures and get your $$$ back out when you're done?
that makes ONE SHARE over $100,000...and you never know if you'll come out on top or suffer a "market correction"
Oil will come back down to $80 a barrel soon. The market will not bear this level of pricing for long.
So the price is going to fall about 60% "very soon"? Crude has not been at $80 since last October (8 months ago) so I think that the indicators are pretty good that the market can support prices well above that level! Over the weekend the Saudi's announced that they would be pumping an additional 200,000 barrels a day and the market responded to that news with a drop in price of a whopping $1.50 per barrel today.
It will make corrections, but he is correct, it is only going higher. Any decrease in US consuption will more than be offset by an increase in world demand. People need to understand there is not one "silver bullet" fix for this. We can, and are, make diesel and jet fuel from coal(USA has more coal reserves than any other country). we can also drill for more oil. Promote other alternative energy-solar, nuke, wind and the like. Also, a little conservation as well, but that would be an energy policy. There's not a democrat or republican smart enough to figure that out.
How did you sneak onto this site? It should not be too long before you start getting the "treatment" from members who won't want to hear what you just said!
What guidence are we getting from the man at the top, GW? His entire plan (if he even has one) seems to be begging the Saudi's to pump more oil. It is physically impossible to pump enough crude oil from any existing fields to have a major impact on pricing because there is not enough extra capacity. If Bush could pull himself away from Iraq and the Democrats away from the November election, we'd be getting a plan, but of course there is nothing. We need to look back 35 years to the start of 1974 after OPEC shut off the tap in retaliation to our sending emergency aid to Israel in the 1973 war (the GB Gang must think that was a good move even though it tripled crude oil prices overnight). President Nixon got on TV and told us flat out that with the loss of 50% of our petroleum we were now facing the greatest threat to our nation's security since WWII. There was only one source of new crude oil and that was the North Slope of Alaska where folks had been tramping around since the 1950's looking for oil. Well, they found it but with crude oil prices locked in at between $3-$3.50 per barrel since the end of WWII who in their right mind wants oil that would cost $25 per barrel to extract? Now that our backs were up against the wall it was hang the costs and lets get going!
Nixon made the Alaska Pipeline a national security priority and we side stepped all sorts of issues that normally would have stood in the way of building that pipleine, including objections from the usual groups and Nixon's political rivals, but he pushed it through. I was just finishing up graduate school when the pipeline opened so I never had a chance to work up there but over the years I spoke with many men in the industry who told me it was the most remarkable project they had ever worked on: NOTHING was going to stand in the way of our getting that oil! If there is ever going to be any drilling up in Alaska it is going to have to get started quick and you know that Obama is not going to lead the drive to do it. Keep in mind that the era of cheap gasoline and diesel fuel is OVER and you will never see $2 per gallon again and just seeing $3 would be nearly impossible. Even when the oil market collaspsed in the early 1980's crude oil prices never returned to their pre 1974 days of $3 per barrel nor did gasoline drop back down to 30 cents a gallon. If there is some hope that there can be enough crude oil pumped to bring the price back down to the level it was when GW took office (about $28) you are wasting your time because those days are long gone.
dgac