i was looking for the libyan oil concession news from today and come across this interesting piece on Palestinians. the writer sounds like a palestinian expat pro hamus and anti west. there's a lot going on the territories that i didn't know about.


Palestinian Boiling Pot

http://www.amin.org/look/amin/en.tpl?IdLanguage=1&IdPublication=7&NrArticle=38521&NrIssu...

clearly some sellers are expecting, i'm not.

http://www.libyaninvestment.com/news/2006-12-20-10.php

i love to know where to watch the news come in. anyone know?

too early to say - i am not expecting news today.

who sold am? tx. eom

yes but we didn't make new highs so there were some coy sellers out there equal to the buying.

bounced nicely off the 10ma - very nice indeed. oem.

"with one day left to the 20th, everyone involved has a hand to play.. "

maybe nothing is going to happen on the 20th - be prepared to wait.

short covering no doubt

old news from libya but interesting all the same:

Gadhafi Renews Focus on Libya Oil Reserves
By JIM KRANE , 05.16.2006, 01:43 PM
With the last vestiges of U.S. sanctions swept away, Moammar Gadhafi's bid to bring Libya back into the diplomatic mainstream has scored a stunning success. Gadhafi's next goal: an economic revival funded by the doubling of oil production in the coming decade.

High-tech U.S. oil extraction methods should help, as will geography: Libya, on the North African coast, should be immune from disruptions that could snarl the flow of oil from the Persian Gulf.

Analysts describe Libya as a country with a bright future, whose emergence from diplomatic isolation is balm to an oil-thirsty world.

"Libya and Gadhafi are making all the right moves," said Dalton Garis, an American oil economist at the Petroleum Institute in Abu Dhabi, United Arab Emirates. "The Libyans have done a lot to normalize things, more than anyone would've expected."

Libya is also one of the few countries with huge oil reserves that is actively encouraging foreign companies - especially American firms - to explore and produce oil. In Bolivia and Venezuela, leaders have joined big oil states like Saudi Arabia, Iran and Kuwait in reining in foreign oil companies - or booting them out.

"It's a rare opportunity," said Julius Walker with PVM Oil Associates in Vienna. "There are very few countries with huge reserves like this, where it's easy to get in. That's why there's so much interest."

Libya's light sweet crude is ideal for refining into gasoline, and its oil fields are far closer to U.S. and European markets than those in the Gulf, where the Straits of Hormuz - a choke point between Iran and Oman - could be blocked in the event of war.

On Monday, the Bush administration put Libya back in the game by announcing the restoration of diplomatic relations and Libya's removal from a U.S. list of state sponsors of terrorism. The move is under congressional review.

Libyans displayed mixed reactions to normalized ties with Washington. Abdul-Hakim al-Keeb, who owns an import-export company in Tripoli, said he looked forward to doing business with Americans.

"What's important for us is that travel to the United States becomes easier," he said.

Others said Washington has the most to gain.

"I don't trust America," said Al-Hadi al-Maqouz, a merchant. "We've done without the United States for a long time and we didn't lose a thing. Restoring political and economic ties will not change anything."

Libya's dramatic rehabilitation comes as the country is emerging from a long period of stagnation. In 1970, the year after Gadhafi deposed King Idris in a coup, Libya's oil production averaged 3.4 million barrels a day, its highest ever.

Production dropped as Gadhafi consolidated power, shut U.S. and British military bases and nationalized oil assets, which restricted oil companies' roles. Libya's oil sector bottomed out in the 1980s at 1 million barrels per day.

Oil production crept up in the 1990s and currently stands near 1.6 million barrels per day. Now, Gadhafi is seeking $30 billion in foreign investment, aiming to bring production to 1970s levels by 2015 or so.

"With the largest reserve base on the African continent, there's no reason that Libya can't restore the capacity it had in the 1970s, and double today's production," said Edward L. Morse at Hess Energy Trading in New York.

Oil production has been climbing since President Bush ended most restrictions in 2004 and allowed the return - after an 18-year hiatus - of U.S. oil companies Occidental Petroleum Corp., ChevronTexaco Corp., Marathon Oil Corp. and Amerada Hess International Ltd.

The U.S. Energy Intelligence Agency expects Libya to produce 2 million barrels per day by 2008.

But Libya's new production isn't enough to dent sky-high oil prices, Morse said, with yearly global demand growing by 1.5 million barrels daily.

Monday's announcement that Libya had been removed from the U.S. list of terror sponsors allows American companies to bring in technology that was previously blocked.

That, said Walker, means engineers can squeeze more oil from their holdings by re-pressurizing old wells using steam injections, finding oil using 3-D seismic surveying tools, and tapping tricky reservoirs with horizontal drilling.

Exploration contracts are considered the real prize. Less than half of Libya's vast land mass, slightly larger than Alaska, and territorial waters have been explored for oil. Only 25 percent of the country is covered by agreements with oil companies. Walker and others say Libya's true oil wealth is probably far greater than its 39 billion proven barrels.

In January, Libya awarded exploration contracts to Occidental, ChevronTexaco and Amerada Hess, along with companies from Australia, Algeria, India, Brazil, Indonesia and Canada. A second round in February awarded contracts to European companies, as well as others from Japan, Turkey, China, Indonesia and India.

With Gadhafi no longer an international pariah, the mercurial leader's global clout is expected to increase as oil exports rise.

Gadhafi's profile is also boosted by being seen to cooperate with the Bush administration's nuclear counter-proliferation efforts, as an example to Iran of the benefits of dropping nuclear enrichment.

"They've got a lot of leverage now," Morse said. "They've become the darlings of American politicians as an example to the Iranians."

But the economic revival of Libya depends on overcoming creaky infrastructure, thorny bureaucracy and what analysts describe as a lackadaisical work ethic.

"They've been isolated from the rest of the world for 30 years," said Philip McCrum, a Libya analyst with the Economist Intelligence Unit in London. "It's almost like they're starting from 1980."

With sanctions gone and a U.S. Embassy on the way, the only diplomatic milestone left for Gadhafi is an invitation to the White House, McCrum said.

"Wouldn't that be an interesting sight? The original bogeyman shaking hands with the U.S. president," he said.


Krane reported from Dubai, United Arab Emirates.

having thought about it i thinks its bs.

"Arabs and OPEC will want something in return for saving the U.S. from economic collapse and it is already widely speculated what they want will be a complete change in U.S. backing of Israel in the Middle East. "

why should western backed puppets in the ME care about the Palestinians? the people do but the governments don't.

its a good "story" imo.

don't really believe it - i would like a second source to get me off my seat.

we will know how concerned the market it about this later tonight. anyway i am ready to re-enter my silver longs - trends don't change because of market manipulation.

cheers.

from a ta perspective it might dip to 1.25 (lowest 1.14) then continue upward. then again it might be happy with a dip to 1.32.

of course and i always get caught out on that one.

where do they publish the dates - going to set up alerts.

thanks.

yup - got a good ol bashing today.

let the markets come to you and not the reverse...


you should do well in that trade.

looking back i shouldn't be surprised by today's action as it broke out of the wedge upper trend line yesterday but had no follow through.

i guess today's a mirror in reverse of that act.

holding for the mo.

re-entered my silver long (too early but why change a habit of a life time).

touched the lower wedge trendline on the hourly. looks like it should hold.

i've noted that gold and silver are having alternative bearish days against the dollar. silver's is today.

closed my long just in the nick of time. look to re-enter long laterish.

btw anyone look at axgc?

whot you talking about the holy grail of short squeeses? lol i don't trade bs.

i'm talking about a normal market squeese. note the dollar strength and silvers maintained strength. when the dollar starts to weaken silver is going to slingshot up.

maybe tomorrow.

imo of course.

i don't trade the oil/gold relationship. as for soft landing maybe - but i would guess a soft landing would be good for silver.

i trade cyclically and we are completing an intermediate bottom here - might need until next week, but both gold and silver have pop the wedge that formed about a 7/10 days ago. forming higher lows etc.

most people are talking "head and shoulders" and bonds breaking down (which is good for $$). i am betting the oposite.

i reckon a short squeese on silver coming - today or tomorrow.

thanks - put into favs

yeah and we think we are understaff now.

David - put a "Help Wanted - apply within" sign on the header will ya.

tx.

agreed.

i bought some mar silver today - finally get in on the dip action. as usual i bough too early. dang.

why is that a problem? lol is because we have different opinions and that is a problem?

but your too answer is too easy there frank but i knew you'd answer something like that.

i do enjoy your market opinions though.

good luck.

interesting - i did read that somewhere maybe it relates to pre israel.

point taken.

now to add some on topic info have a look at axgc. a pink with an interesting oil concession rumour. there is a thread here on ihub.

chart is very strong!

btw K "fascist Phalanges Party" - was conceived by Gemayyel's father after a visit to Nazi Germany. So I suspect he is not far off the mark.

But angryarab is one person so he will have his foibles.

loaded indeed frank.

i thought the reason you didn't respond was because you didn't have any arguments to back up your statement.

i have a pretty good idea your politics frank but i just could let those statements pass as is.

cheers

try not to get this thread overloaded with our views.

McBean,

News ???
http://www.cbc.ca/mercerreport/
http://www.colbertnation.com/
or maybe comedey central's The Daily Show :O)

"I would think one huge problem being away so long is that you are out of touch maybe ?.. Like Ignatief ? Reading is nice but as Corey Hart sings... It ain't enough.. Come back and spend some time here ... then you can believe your eyes... Y"

indeed i don't predent to know canada anymore - in fact i don't really follow it - except for MacLean's. which is a bit scary.

"From one post you know my views ? Geez Frank and I disagree a lot on politics and health care.. for two things... "

no but that post of franks and yours said a lot.

"One of the nice things about living in different culture is you are able to see how the local governments So if you mean to say we cannot see it in our own country, I can't buy that at all."

why? by living in a different culture(s) you are able to separate what is your culture frim what is you. much more difficult when you don't travel. not imposible though.

"How is Europe dealing with Muslims.. Hmm.. my daughter in high school has a ton of classmates with headscarves... in fact two sisters she skates with have head scarves.. Isn't there a little problem with that ideal in France ?"

i never once said that it was better over here for dealing with minorities - infact i think i tried to say oposite. your example is a bad imo - france wants to keep schools non-religous - for all. that includes christain, jews and muslims. i like that idea and religious studies can be done off the state play ground.

"McBean... sounds like you have a case of the Parisian accent is so beautiful and superior ... if you get my drift..
"

not at all K - if you read my drift.

"by Zionist organisations. Don't read em. Doesn't matter what anyone believes... a supporting position can always be found on the net. Debka had the Chinese massing on the Afghan border to attack the US... Stratfor seems clueless on China. and Canadian politics..
"

i do read them because it important to know diverse views - even if i don't agree with them.

"One interesting fact that I didn’t know is that there is one Zionist organisation that has strong influence/input on the Canadian education system. But I think I digress. Naw I'd VERY MUCH like to hear that tidbit...
"

i read on the link i posted. i will try to find it. but are you really surprised by this? it was related to jews history. zionists don't speak for all jews - as i am sure you know.


"I'll give Angry Arab a boo... and maybe I'll find out why all the Arab nations have turned their backs on the Palestinians , leaving them segregated to fester and foment violence in their refugee camps for a generation ? Do you suggest that it is the whole truth and nothing but the truth.. ? I hope you are not like my buddy RichNorth over on SI that is attributing this all to the freemasons and their plan to take over the world ?"

i think 45% of Palestinians are Christians - why have you turned your back on them? don't know what you mean by the "truth" statement. as for the rest of the paragraph - clearly there are global agendas - i gave an example of how the british are following the US in clamping down on civil liberties.


"Anyway now I digress and I mentioned to amarks one reason I was not posting here was that I didn't want to pollute the thread with a bunch of political stuff... which is most of what I've been writing ovwer on SI... .. Here, read this... it is a better peek into part of my mind.. At least you'll have a modicum of research done on me :o) ..."

Fair dinkom

"http://www.siliconinvestor.com/readmsg.aspx?msgid=22795983"

"The politics at the end of the day in the Mid East is all about realpolitik and oil... been that way since WWI."

Indeed.

"What has the IRA treatment by the Brits got to do with us ? (from allowing dissent to having public meetings without approval) necessary to capture Al Quada suspects. Being as cosmopolitain as you infer, surely you do not believe racism and prejudice are the sole domain of the west ?"

my example was to show that the war on terror (muslims) has a hidden agenda. know why they want to you to think that way.

"Canadian politics and how we think about the world.. http://www.siliconinvestor.com/subject.aspx?subjectid=37211
Most of those very anti Bush have not been posting for a while though.."

you keep reading my link and i will yours!

cheers

McB

I left Canada about 23 years ago. lived in London Eng for 17 and now Amsterdam for 6. I wish I had seen more of the world in that time but hey I still got time.

Both your views typify what I read in MacLean’s (sorry doode). my parents got me subscription about a year ago. the magazine has improved enormously over the last year. It was an embarrassment when I first starting reading it, just from a basic literacy point of view. Its world view is very narrow and but thankfully letters to the editor help me to believe that some Canadians are able to see beyond that.

The MacLean’s issue I couldn’t believe was the one called “Canada’s fist terrorist family” or something like that. It was about a family in Quebec that had supposed links to Al Quada. They were all guilt by association – no need for a trial. I thought to myself that according to MacLean’s Muslims living in Canada must have the same rights (read publicly allowed the same treatment) as Jews under Nazis in Germany before 1940. ie no rights at all because they are not human.

One of the nice things about living in different culture is you are able to see how the local governments uses fear to manipulate public opinion. As a foreigner I am very aware of the need for governments and their media partners to de-humanise cultures and peoples in order to get an agenda across. As an “outsiders”, as we foreigners are called in Holland, I am very aware of how this process works.

I find it interesting that during the war with the IRA the British government never felt it was necessary to tighten public freedoms in order to capture IRA suspects. However, they do seem to think that reducing public freedoms (from allowing dissent to having public meetings without approval) necessary to capture Al Quada suspects. Funny how the world turns eh?

Go back and read the book 1984 – the processes documented within are a live and kicking today was they were under Stalin. Just because you can’t see them doesn’t mean they are not hard at work in Canada and elsewhere.

I have mentioned this website before and I ask that you spend some time there and you will find that there a diverse opinion within the Muslim world. Interestingly a lot Arabic translation used by western media is undertaken by Zionist organisations. Free of charge. Enough said.

http://angryarab.blogspot.com/

One interesting fact that I didn’t know is that there is one Zionist organisation that has strong influence/input on the Canadian education system. But I think I digress.

rgds

McB

buyers chomping the ask today. lekker!

questions for you both:

have either of you ever lived outside canada?

and if not, do you get your world view from macleans?

David check your mail

cheers.

jmentor

would you mind posting the list or link.

thanks.

indeed - wasn't looking to play it. tho with more drilling they could become interesting again.

thanks.

Frank - what do you think of the libyan drill plays like vnx.t?

next concession announcement is 20th dec.

libya seems like the field of dreams at the moment.

top of the channel is about 1.10.

it has broken out of the wedge tho.