70 buck a barrel oil matched by rising airfares...talk of rationing.

[Mud Eagle]

Hey, wait a minute. The leftists told me a couple years ago that I was going to war to secure oil. How come gas prices are 200% higher now than back then??

 

[CrimsonEclipse]

I'm a Militant Liberal (aka "Gun Toting Liberal")
That said, I'm not a fan of the present leadership, however, if I was
to find out that this whole mid-east has netted the USA 2 trillion
dollars worth the oil, I'd be ok with it.

At $75/bbl I just don't see it.


CE

 

[Mud Eagle]

Exactly...the war was never about oil (no matter how hard the leftist crowd tried to chant 'no blood for oil'), and the state of the world petroleum market (and the huge increase of petrol price in the US) three years later only punctuates that fact.

 

[jetflyer]

Mud,

I don't think one has to be a leftist, anti-war, tree hugging hippie environmentalist, liberal wacko to see going into Iraq might have been somewhat for oil.

Because of the coming production peak in oil, the goal in my opinion was never to make the price go down. It was to hold the last remaining large oil reserves of the world when oil becomes more scarce and goes up in price like it is now. Oil production for the world is flat year over year, meanwhile demand keeps increasing and these are the REAL reasons oil prices not gas prices are at 75 Bucks. In the past everyone has been able to increase oil production but that has slowed and may be coming to an end.

It is a fact that our invasion which has made Iraq's oil production go from 2.5 million barrels a day to 1.5 million barrels a day has taken oil off world markets.

The locals are even calling one pipeline "THE FLUTE" because it has so many holes from explosions by insurgents.

The world could really use the extra 1.0 million barrels a day that is lost right now from Iraq. Cheney even said that Iraq's oil production would easily be at 4.0 million barrels a day right now but we're at 1.5. So our efforts to get the oil out have been dissapointing. They won't stop blowing up the pipelines!!!

When we go into Iran we'll have gotten the two members of the "Axis of Evil" we really cared about.

When oil starts to get more and more scarce we'll see that holding Iraq's and Iran's oil is a good thing......or a bad thing???

Don't forget TIVO OR WATCH TONIGHT OR TOMORROW:
PEAK OIL Finally going Mainstream Media!

Saturday and Sunday on CNN 8PM ET
Tomorrow's Oil Crisis: We Were Warned


Jet

 

[FN FAL]

I don't have a problem with securing America's future by creating a permanent presense in the middle east. I just don't care for the deception. Let's ship can the goody two shoes agenda and make like the super power that we are and dominate. And not just oil either.

 

[CrimsonEclipse]

I don't have a problem with securing America's future by creating a permanent presense in the middle east. I just don't care for the deception. Let's ship can the goody two shoes agenda and make like the super power that we are and dominate. And not just oil either.

The world seems to think that we're dominating the planet. I say we should!
They might as well hate us for a reason.

CE

 

[jetflyer]

Now we're all talking like a bunch of Neo-Cons. hehe....

In time a lot of people will be begging them to go get the oil for us...

See my avatar? I wonder if that's what Iran will look like in a couple months?

Jet

 

[Icelandair]

The government should force the oil companies to build refineries. They have created this short supply situation on purpose.

 

[JohnDoe]

FN FAL:
Why have a permanent presence anywhere for energy? Why not develope alternatives so that we will never again have to rely on anybody else for our energy.

The billions of dollars we would save by not having to "occupy" foreign countries would go a long way towards paying for the programs.

 

[eggman76]

Here is investment advice:

A great precious metals mutual fund. There are many more.
Tocquville Gold Fund (TGLDX)
Returns:
YTD: 36.76%
3 year: 42.15%
5 year: 41.7%
Link at Morningstar for fund information: HERE
Can buy by going to www.tocquevillefunds.com and going to "OPEN AN ACCOUNT" or calling 1-800-697-3863

Here is a good ENERGY Mutual fund:
Guinness Atkinson Global Energy Fund (GAGEX)
Returns:
YTD: 20.14%
2005: 64.0%
Link at Morningstar for fund information: HERE
Can buy by going to http://www.gafunds.com and going to "HOW TO INVEST" or calling 1-800-915-6565

Here is another good ENERGY Mutual Fund:
RS Global Natural Resources (RSNRX)
Returns:
YTD: 18.13%
3 Year: 47.12%
5 Year: 28.87%
Link at Morningstar for fund information: HERE
Can buy by going to http://www.rsinvestments.com/funds/gnr.html and clicking on "INVEST WITH US" or calling 1-800-766-FUND[3863]



These returns are going to keep going up, up, and away. I have my wife's and my IRAs in these three and some other different gold and silver investments. You won't regret getting on the commodity gravy train

Take care,
Jet

Historically gold has not been a good investment. Since 1968 gold has had a rate of return less than inflation.

If one were to have purchased 100 ounces of gold every year since 1968 you would have invested roughly $1,200,000. That gold would now be worth roughly $2,430,000, figuring gold at $625.

If you had taken that same amount of money invested in stocks, assuming an 8% return, you would now have $5,400,000. S&P500 historical average return is 11.5% annually for the last 50 years.

Gold, even in the face of inflation, is not a good long term investment. Certainly not when gold is now near an all time high. Gold was at this price level once in the past, 1980. If you had started investing in gold yearly in 1980 your returns vs. the stock market would have been terrible.

Don't believe the hype.

Eggman