Oil prices are gonna crash just like the housing market.

[Yo Hoot]

I believe this story. It's all cyclic.



Why the oil boom will eventually bust - Jun. 6, 2008

 

[JDiepstra]

I hope that article is correct and I hope that every single person who has knowingly bought oil futures looses all of their money.

 

[HOBrian]

I hope that article is correct and I hope that every single person who has knowingly bought oil futures looses all of their money.

From your mouth to gods ears!!!!!!!!!!!

 

[RRees]

I'm not going to hold my breath.

 

[EGroeneveld]

After paying 4. 89 a gallon last night I sure hope so. Till then we will drive my wife's car more and more.

 

[Gary - K7GLD]

More good reading:



The great oil swindle: How much did the Fed really know?



HOW many of these articles does it take to wake this country and our "leaders" up - and why are so many in positions of power CAREFULLY avoiding the basic issues causing the ruination of this country and the world?



I have personally SEEN supporting quotes and stories over on the Drudge report - gone back a few hours later - and the pointed to articles were PULLED!

 

[DCreed]

More good reading:



The great oil swindle: How much did the Fed really know?



HOW many of these articles does it take to wake this country and our "leaders" up - and why are so many in positions of power CAREFULLY avoiding the basic issues causing the ruination of this country and the world?



I have personally SEEN supporting quotes and stories over on the Drudge report - gone back a few hours later - and the pointed to articles were PULLED!

I had to check that one!:-laf ruination - definition of ruination by the Free Online Dictionary, Thesaurus and Encyclopedia.

 

[DCreed]

I hope that article is correct and I hope that every single person who has knowingly bought oil futures looses all of their money.

the average joes will. The big bankers that caused this will quietly sell out just before! so watch the market closely!!

 

[RRees]

What's really sad, is that our elected Members of the Congress and Senate and President state they can not do anything about it.



Yeah right.



We need a clean slate of legislators to represent the American working person.

 

[AABEN]

They can not!!! This was put in play when Hennry Kissenger was in office. We all was sold out by BIG oil!! Are doller is based on oil not on gold or silver any more. The large oil owens about all the oil!!! Look around and ask some questioms it will make you MAD as all get out. If thoes deals was not made we could be getting oil out of ALASKA!! we would be paying around 1. 50 for a gal of gas

 

[AKaiser]

I hope that article is correct and I hope that every single person who has knowingly bought oil futures looses all of their money.

In some religions it is considered a sin to wish misfortune on other people. I believe it's called envy.



I figure it will be awhile, but like my Dad told me a few months back regarding crop prices, "High Prices are the cure for High Prices. " The inverse is also true.

 

[dpuckett]

I thought envy was wanting what other people had. On that note, what goes around comes around- they'll get theirs. Maybe not in this life, but eventually. I'm not going to worry about it too much from the religious standpoint- I ahave enogh of my own sins to atone for to be concerned with others'.





The oil boom is just like the tech bubble of the 90s, and the housing bubble of recent years. (that's why we buy fixer uppers- we added $5k to the value of our first house in an afternoon by mowing the lawn and clearing out a fencerow. ) It'll blow over, leaving someone holding an empty bag. And the media will make a victim of him/her.



Daniel

 

[SMcGrady]

Apples & Oranges

I really would like to believe that this article was true, but I don't believe that Oil prices are analogous to housing prices for the simple reason:

1. Each house that is built and not purchased is still here (surplus inventory).
   
2. Oil is consumed as it is pumped and refined (no surplus inventory).
   

While I do believe that the market has had a tremendous influence on the high price of fuel, you can't discount the supply vs. demand aspect.



We need to increase supply and reduce demand and face the fact that fossil fuels are a finite resource. So... we need to find/develop different energy sources eg. Biofuels, Hydrogen, Wind, Solar, etc. , to reduce our dependance on oil. Then prices will hopefully fall, or at least stablize...



My 2 cents...



Scott

 

[DCreed]

The fundamental problem is oil is easy and untill recently cheap energy to produce. So the grand catch 22 is as other sources come on-line oil gets cheaper again and capitalism says go with the most profitable approach. when gas is high hybrids sell, when gas is low SUVs sell. If strawberries are cheap, you're told they are the best, then its bananas. We CAN still afford more expensive fuels or starbucks would go out of business, and we as a whole would DEMAND hybrid or full electric vehicles and Thats when we'll see the change in American industry.

 

[AKaiser]

Oil prices will come down when the Chinese and Indian governments et al quit subsidizing petroleum products because they start to run out of money. On top of crude oil, you've got chemical fertilizers that are 3x the price they were a year ago, and we here in the U. S. ag market thought it was high then. The asian countries are subsidizing $1200/ton Diammonium Phosphate (DAP/18-46-0) fertilizer. We're paying just under $1000/ton right now. You know what DAP is made from? Anhydrous Ammonia, which is produced by processing natural gas. They are not going to be able to afford subsidizing $1200/ton DAP for very long.

 

[RJWEST]

??? China and India run of of money oil prices go down ??
So if we stop buying at Chinamart, fuel gets cheaper,
HHHMMMMM, AAHHH , Don't buy cheap China stuff..... ?????

I Guess China ain't gonna run out of Money until We do...
But, the gvnm't gives money away so you can shop at Chinamart.
Now I'm really "confusid"... .

 

[PRout]

The people chose to buy what they buy. Keep buying it and the supplier will continue to take your money. Simple. Buy chinamart and chinamart makes record profits (and becomes bigger to the point where they start eliminating their competition). Who's fault is it really? Sorry to break the bad news to you guys, but it's OUR fault. We continue to buy the stuff. Its called complacency. Quit blaming others for our lack of making the correct choices. We have let other countries control our oil supply, tennis shoes supply, automobile supply, and soon we'll be wishing we had built some water de-salination (sp) plants. But we wont... We prefer red tape and helping everyone and everything else and then whine and complain because we are becoming helpless to chose our own destiny. Doh!

 

[Gary - K7GLD]

The people chose to buy what they buy. Keep buying it and the supplier will continue to take your money. Simple. Buy chinamart and chinamart makes record profits (and becomes bigger to the point where they start eliminating their competition). Who's fault is it really? Sorry to break the bad news to you guys, but it's OUR fault. We continue to buy the stuff. Its called complacency. Quit blaming others for our lack of making the correct choices. We have let other countries control our oil supply, tennis shoes supply, automobile supply, and soon we'll be wishing we had built some water de-salination (sp) plants. But we wont... We prefer red tape and helping everyone and everything else and then whine and complain because we are becoming helpless to chose our own destiny. Doh!

DUNNO - at an earlier time, perhaps a concentrated effort of attempting to stem the tide of cheaper foreign-made goods MIGHT have been effective - but I personally feel that battle is long since lost! Even the stuff now available and thought to be "American made" usually has significant foreign made materials and components in it's construction.



That foreign material might be the tires and radio in an "American made" vehicle - or perhaps the imitation leather in an "American made" pair of shoes - the possibilities of "Foreign" contamination of supposed American products is pretty much limitless - and those professing, or THINKING they are "buying American" are most likely just kidding themselves...



Now, at this point of US financial stress, a struggling family may well be forced to choose between the cheaper relatively economical Asian grocery getter/commute vehicle - or the more expensive Ford, GM or Chrysler equivalent, at a higher price - and that still has MANY foreign components inside...



SO. where will the loyalties - AND $$$ - go - to a false notion of "buying American" with the extra dollars needed for groceries and new shoes for the kids - or the cheaper to buy and operate foreign ride?



It can be a hard - and possibly pointless - choice - and when times get hard, as they already are for many, the FIRST loyalty is to the continued well-being of the family in the present - even if that seems to present problems in the future...