Oil Hits $70+ a barrel!

[73-Driver]

I have no problem with capitalism. I just think it really sucks when demand far exceeds supply and the normal factors that are suppose to correct these conditions are hindered or manipulated to benefit a few. There is nothing un-american or socialist about being in favor of Anti-trust laws.

 

[LoveGun]

PCL,

Do you think the human race has perfected it's understanding of economics and the unregulated free market is the only system that will ever work?

 

[miles otoole]

I have no problem with capitalism. I just think it really sucks when demand far exceeds supply and the normal factors that are suppose to correct these conditions are hindered or manipulated to benefit a few. There is nothing un-american or socialist about being in favor of Anti-trust laws.

Oh, you mean like Southwest trying to take advantage of USAir and moving into PHL?

 

[73-Driver]

Oh, you mean like Southwest trying to take advantage of USAir and moving into PHL?

Miles,

I feel their pain, I lost my job in May with ATA. Do I blame the competition or the fact that my company was weakened and withered by what many are calling the "perfect storm" in the aviation industry.

The fact is, SWA is a better company than most in the industry. They know how to make money, keep prices low, and keep its pilots flying. If that's not how capitalism is suppose to work then how should it?

 

[turbodriver]

Negative. I'm just not a socialist. Some of us still believe in good old fashioned capitalism. Imagine that.

So you like be ripped off by the oil tycoons.

 

[PCL_128]

So you like be ripped off by the oil tycoons.

They aren't ripping anyone off. They sell a product, you get to decide whether to purchase said product. That's how it works. This isn't complicated. If you think they are overpricing their product, then don't buy it. Ride a bike to work for all I care, but stop the whining about oil company profits. The purpose of a business is to make as much money as possible.

 

[73-Driver]

Ignorance is bliss!

 

[turbodriver]

Tell me about it. Maybe he'll see the light after the kool-aid wears off.

 

[jetflyer]

Forbes is LYING?? Something isn't right. Forbes is telling some people the price of oil will go to $35. BUT Australian Senator Kerry Nettle says that Forbes is lying and that he is telling his investors in a SUBSCRIBER ONLY newsletter that global oil production will PEAK very soon and the price of oil will skyrocket. Here is the link, which Prof. Goose found and posted on a BLOG at www.theoildrum.com:

[url="http://www.kerrynettle.org.au/600_media_sub.php?deptItemID=433"]http://www.kerrynettle.org.au/600_media_sub.php?deptItemID=433[/url]

.Steve Forbes contradicts oil price rise claim in lastest investor newsletter
1st Sep 05
Greens Senator Kerry Nettle today accused Steve Forbes, host of the CEO conference at the Opera House, of playing deceptive games with the Australian public over oil price claims.

Steve Forbes told the Prime Minister and media on Tuesday that oil prices will come back down to around $35 a barrel within a year, and that high prices are a speculation 'bubble'. Overnight his investor newsletter has advised the opposite.

The subscriber only Forbes Professional Timing Service states:

"THE MOST IMPORTANT ADVICE I HAVE GIVEN IN 20 YEARS"

"expect to see crude move to $65.00 this summer and to $76.00 by early next year."

"..the so-called terror premium in crude prices - which will remain until we see at least three years of peace in the fertile crescent".

And,

"We are at the point where the rubber hits the road, and the only rationing mechanism for whomever gets the available supply will be higher prices."

"What is Mr Forbes up to? It appears he is telling the Australian public and decision makers not to taking the spike in oil prices seriously, whilst telling his investors that the spike is a great profit making opportunity," Senator Nettle said.

"Mr Forbes public comments appear to be about discouraging steps to address the coming peak oil crisis, a crisis he admits as real to his investors.

"Steve Forbes is treating Australians with contempt. He should apologise for his deliberate deception.

"Australians should be worried if the Prime Minister is taking advice from the likes of Steve Forbes on an issue as vital as the looming energy crisis. This embarrassing incident underlines the untrustworthiness of Mr Forbes' advice.

"The Prime Minister should be listening to those who advocate investment in renewable energy and energy conservation measures which are in the long term interests of this country."

Contact – JonEdwards 0428 213 146

EXCERPT FROM FORBES NEWSLETTERS PROFESSIONAL TIMING SERVICE OVERLEAF…

1 September 2005 12:28:37 AM

FORBES NEWSLETTERS PROFESSIONAL TIMING SERVICE

THE MOST IMPORTANT ADVICE I HAVE GIVEN IN 20 YEARS
There are four major opportunities concerning crude oil, gold, stocks, and bonds that will make and break millionaires during the next 24 months.

First: Too late to buy oil? Not on your life!

A couple of years ago when oil was trading at $16.00 to $20.00 a barrel, I pointed out the ground floor investment opportunity developing in oil. We openly recommended Enerplus Resources (ERF-NYSE) in our publications. It was trading at $17.00 or less then and was paying a dividend of about 1.25% - MONTHLY. That amounted to 15% a year. After a brief correction this spring, crude oil is once again trading solidly over $55.00 a barrel. Enerplus is trading over $35.00, a dynamic double from our original recommendation. It is too late to chase Enerplus, and there are better buys out there that are yet to be discovered by the Street. I will tell you about one presently, but first ...

Opportunity #1 – An exceptional second chance to buy energy stocks.

The first of four major opportunities you will encounter this summer - which is also the biggest money making opportunity I have seen since crude oil was $20.00 - is to take advantage of the recent correction in the energy sector and buy some energy stocks. You may be skeptical about this - as investors were when we told them to "mortgage the house and buy stocks" in the spring of 1982. Nevertheless, here it is.


Oil and natural gas are on their way to significantly higher levels.I expect to see crude move to $65.00 this summer and to $76.00 by early next year. However, you can still buy select oil and gas producers that pay 11% to 15% dividends - and they pay monthly. It doesn't get better than that.


There are many reasons to invest now in oil and gas. Unrest in the Middle East and the so-called terror premium in crude prices - which will remain until we see at least three years of peace in the fertile crescent - are two reasons. I think that will be a long time coming. Now, Iran (a major world supplier) is making the news as a safe haven for terrorists as well as a nuclear threat.


Venezuela (the fourth largest supplier of U.S. crude oil) is becoming our avowed enemy. There is renewed strife in Nigeria. The lion’s share of the world’s crude is being produced from wells far beyond their prime, and some sources estimate that for every 2 to 4 barrels a day consumed, only 1 new barrel is being brought on line.


There is a major shortfall between supply and demand, and this shortfall is growing on a monthly basis. World demand increased 2.5 million barrels a day over the last year due to increased demand in the U.S. and Asia. India and China are industrializing at a feverish pace, and their energy appetite is increasing exponentially. China is aggressively expanding their infrastructure and their military, and they are developing an enormous strategic oil reserve that will be much bigger than ours. Mushrooming global consumption will easily be 86 MBD or more by the end of this year.

On the other hand, global production is very close to a peak, and there is no longer any near term "excess" production capacity left. Knowledgeable sources estimate that world production will never – that’s NEVER - exceed 90 million barrels a day (MBD). With one exception - which we discuss in our updated special report Oil - Slam Dunk Investing For Income And Capital Gains – Updated- alternative energy of any import is years in the future. We are at the point where the rubber hits the road, and the only rationing mechanism for whomever gets the available supply will be higher prices.

I thought Forbes was too smart to not understand Peak Oil is coming very soon and unfortunately sooner than first thought because a lot of production from the Gulf Of Mexico is YEARS away from coming back online.

Jet

 

[klhoard]

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And you'll never guess what countries control most of the world's Dilithium Crystals. . . .
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