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You need to be buying USO calls then. LOL! You have to be smarter than what it is you are playing. And as I pointed out using direct definitions, you are not being lied to. Only the time frame is in question.
You keep saying that oil companies refuse to develop leases. In other words, you must believe oil companies have idle equipment AND workers sitting around. Let's do some simple math here with hypothetical numbers.
Let's say there is equipment and people remaining idle to get the price of oil up to $200 x's 10 million in current production. This = $2 Billion in daily revenue.
Evil oil companies change their tune and use the idle equipment to increase production to 15 million with a lower per barrel price of $150. This = $2.25 Billion in daily revenue.
Keep crunching the numbers. How much lost opportunity do you believe this idle equipment is creating? Double today's domestic production? Tripple? Maybe increase by only .5 or .33? What's YOUR number? Or do you have a link showing what the lost opportunity is? How much more oil production daily do you think it takes to lower the price per barrel by $10, $20, or $50? Note that it would take a drop of at least $20 per barrel to get gas back down to around $2 per gallon.
So how much negative production is being created by your alleged idle equipment?
So in your opinion, the Government should instruct the oil companies on how to do business. Is that accurate?
"there is no ban on off shore oil drilling there is just a moratorium on offering more leases until the oil companies develop the 6492 leases."
Sounds like you believe the Government knows better than the oil companies themselves on the best way to explore and extract oil in an order that the Government deams best. For example, while some existing leases with existing equipment is being drilled, there is a finite amount of work these folks can do at one time (note the max 85 million barrels a day limitation). Now, while we have existing leases to develope and drill, nwsun seems to believe that the government is right in not allowing exploration to start anywhere else until the leases are tapped out forcing a multi-year gap in actual oil extraction from the time of tapping out existing leases. And that's what GW and McCain are trying to remedy.
Ok, Ok. GW should refer to it as a "suspension of activity" when he talks about drilling off shore. I wonder if the "suspension of activity" will ever be lifted? If not, THEN can call it a ban? LOL! What a spinner.
Just having a bit of fun and throwing a pick out to the board to watch. It's got to fizzle out at some point and with a run like this, puts will look great but I'd wait for a real confirmation of a reversal.
Bush renews call to drill off U.S. coasts:
http://news.yahoo.com/s/ap/20080618/ap_on_go_pr_wh/offshore_oil
And McCain calls for the same except for wants the STATES to decide for their own coasts:
http://www.usatoday.com/news/politics/election2008/2008-06-16-McCain_N.htm
Giving power back to the States. Imagine that.
Does anyone want to look back 10 years from now (again) and say we could have been a self sufficient petroleum producer? Over the next 10 years, we'll see a major shift to alternative NRG use but we might as well take the oil and sell it to developing nations as our demand for it decreases.
Is there no limit to the mockery IPI is showing me?
If you look to the far left of this chart (Thursday when it was at 48-), you will see where I sold my July $60 calls for dirt cheap. Acutally, my chart is more recent than when I sold but you get the point.
Someone may want to play some August $70 calls (or July) though the premiums are high now. But I promise I won't buy them which will surely bring the stock back to the $40's.
Time to flip a portion here but IMO, GM is a POS for the short term so holding a few more for the ride below $15.
GM JUL 2008 15 Put ( .GMSC)
That was more of a flippant post to have some fun. Here's another fun article to ponder today:
http://www.wnbc.com/family/16631621/detail.html
Amazing how low some people will go. BTW, my neighborhood was having a big garage sale. I didn't participate but two of my kids thought it'd be a good idea to fill a cooler on rollers with Cokes, Sprites, Capri Suns and Water to sell to the garage sale shoppers. Great idea and they made about 20 bucks. But while they were out selling, another of our neighbors saw them and immediately did the same thing! LOL! I laughed while my wife was PISSED OFF. An adult competing with an 8 and 10 year old.
DNC out-of-control spending. Is there no end?
http://www.msnbc.msn.com/id/25213165/
DNC wants McCain investigated
Asks court to check legality of presidential hopeful turning down funds
GM puts are not expensive today even though it dropped adjusting for premiums.
Time to buy them. Probably go ahead and get some $12 puts for August.
Looking forward to a McCain administration! Bring back fiscal responsibility.
Day 150... Who's Obama? LOL!
Posted by: samaelrocks Date: Thursday, June 12, 2008 3:28:36 PM
In reply to: samaelrocks who wrote msg# 26164 Post # of 26724
Here comes the 11k's.
Argh. Any good news on the horizon like just a single day of no Economic data? LOL!
Well, maybe. If Rufus disappears and the shell is transferred to someone. That someone would have to clean up the shell and probably have to fund some of the old note holders. Plus, the potential buyer would have to clear up the SEC mess.
Then they'd have to produce some business model that actually makes money... seen by auditors. LOL!
Even then, will the price go back to $1? $.50? Doubt it unless you're willing to wait a full 1 - 2 years after someone other than Rufus buys the shell for dirt. Of course, that depends on if Rufus would be willing to sell it. I can't see that he would.
In fact, Rufus is probably pissed off about all the negative information one can readily find on him on the net which means the shell is worthless even to him.
So, value may come back into the stock we know as CSHD. But that will happen about as quickly as it would take to short IBM into sub penny territory. LOL!
You compared India and Brazil's "solutions" to that of the U.S. You have to consider the quality if you do so. No brainer there.
The world can produce right around 85 million barrels of oil per day. When the world uses more than 85 million barrels of oil per day, the supply declines. Basic economics without the conspiracy. BTW, I thought exactly how you did until I started researching. I wondered why OPEC would keep the supplies down. But the OPEC members are producing what they can.
Check out China and Russia's usage. Their demand has sky rocketed. That's why China is exploring the WORLD for oil. Though I'd agree 100% we need an alternative, I don't agree with handicapping the U.S. and footing the tax payers (or oil companies) with a tax increase just to make a few liberals happy whilst China and Russia enjoy lower gas prices at our expense. The alternatives are on the horizon.
I'm pretty sure removing Saddam, hence the Iraq war, was policy before and during the Clinton administration on intelligence widely believed to be true. The 9/11 attack was certainly a convenient catalyst to get the war started and thank goodness we're killing terrorists in Iraq instead of waiting for them to come here. I'm not sure where oil comes into your conspiracy though. It certainly hasn't helped the supply. LOL! Forever we'll disagree here, however, for my part, you can look up and find that Iraqis still own their oil and proceeds from their production hasn't helped the U.S. economy.
_____________________________________________________
As long as we read only that with which we agree, we learn nothing. - Chester Dolan
Global Warming cyclists ride nude to promote the idea of Global Warming... on an unseasonably cold day. LOL!
http://www.manchestereveningnews.co.uk/news/s/1054078_naked_cyclists_ride_it_out
I wonder what man did to cause the Ice age?
So now you're going to compare the quality of living in India and Brazil with that in the U.S.? Did you not read my post? SUPPLY/DEMAND. What India does will not fly in the U.S. We enjoy a higher standard of living. Try to sell the "India" solution to the American public and see what happens. LOL!
Look around you. Both Toyota and Honda have Hydrogen fuel cell cars that will be available soon. Tesla has the all electric roadster. There are several clubs with people converting their cars. People are putting solar panels on their homes (though not many).
All without government intervention and using the power of SUPPLY and DEMAND. Fancy that.
_____________________________________________________
As long as we read only that with which we agree, we learn nothing. - Chester Dolan
LOL! Forever we'll disagree. I don't believe we'll reduce petroleum use just because Jimmy Carter has a goal to reduce petroleum use by 10%.
And who was going to pay for solar panels for 2.5 million homes?
Maybe you could share how Jimmy was going to pay for this. Hell, throw in socialized medicine and we'd be paying 80% income tax.
I'm pretty sure we'll be OK considering the new technology coming out in transportation. We just might survive this. LOL!
Did you even read Carter's opinion?
"Each new inventory of world oil reserves has been more disturbing than the last. World oil production can probably keep going up for another six or eight years. But some time in the 1980s it can't go up much more. Demand will overtake production. We have no choice about that."
http://www.pbs.org/wgbh/amex/carter/filmmore/ps_energy.html
Better I sat silent and let you prove to the board that you're an idiot. Carter was WAAAAYYYY off.
It ain't the government that's going to save us. It's supply/demand. Now more people demand electric or hybrid cars. And others will capitalize off it whether the government does anything or not.
How many communist countries are sporting electric cars or conserving energy? LOL! Liberals forget the power of supply and demand in lieu of government intervention.
This will remove all of BA's gains the last 3 days:
http://biz.yahoo.com/ap/080617/bulgaria_plane_accident.html?.v=1
"Plane skids off runway in Bulgaria; no injuries
Tuesday June 17, 11:08 am ET
Transaero passenger jet skids off runway in Bulgaria; no injuries reported
SOFIA, Bulgaria (AP) -- Bulgaria's Transport Ministry says a jetliner belonging to the Russian company Transaero skidded off a runway while taking off from the Black Sea city of Burgas. The ministry says none of the 207 passengers and crew were injured.
Ministry spokesman Yassen Zarev says the Boeing 747-200's braking system failed and the plane skidded several yards off the runway at Burgas Airport on Tuesday.
Zarev says the plane was flying from Burgas to Moscow."
Never mind the contracts reported yesterday for just under 34 million. Geeze.
It would only add to the daily production from the globe which would increase supply and keep the prices down. That's all that's expected of any site.
However, instead of blocking exploration and drilling, why not embrace it? At the same time, let's look at Obama's "windfall profit tax." Instead of a "windfall profit tax" (whatever that is), why not offer tax breaks to companies that are researching alternative fuels? If being done locally, why not increase it?
As stated on the show "Dirty Jobs" last night, people will do more for "green" when there is incentive in comparison to being lectured into it. We don't see volunteers clearing illegally dumped tires. But we do see folks making money off of it.
I was waiting for that post.
McCain is probably the most centered Republican you'll find. He's soft on abortion as well.
So, how many Democrats are ticked off about Obama winning the primary? I know I'd be pissed if the RNC gave us Pat Roberson. Obama will be conceeding before midnight on election day.
LOL! This will be lost on some.
Just a little hind sight. About 10 years ago, I was debating with some left wingers on a political message board about drilling in ANWR.
They said that even if we started drilling now, it would be producing for about 10 years.
LOL!
I wonder what gas prices would be if Democrats didn't block our ability to drill locally and off our shorelines years ago.
The leftwing move seemed to help China do exploration and drilling off Cuba's shore (200+ miles from us) though. Nice job.
It wasn't just Democrats that blocked this. There were some Republicans in the mix as well.
You were saying? LOL!
For a fee, I'll announce my sale 1 day before so the shorts will know to cover and the longs will know to load up. I just want my cut!
I haven't sold yet so it's not ready to move up yet.
Thanks! I appreciate the heads up.
IMO, Boeing (BA). The RSI is still at 50+ and it's just now reversing from a downtrend (last 3 days) so the calls are still cheap.
Anyone use or have an opinion on the "forex autopilot" system?
http://www.forexautopilot.com/
I promise I'm not spamming. I just came across it today and thought I'd ask if anyone's used it. Thanks in advance.
Based on the news, it'll probably continue south for a few days.
Chiquita stock drops 29 pct after bleak 3Q outlook
Monday June 16, 4:46 pm ET
Chiquita stock plunges 29 percent after fruit company forecasts bleak 3Q outlook
CINCINNATI (AP) -- Shares of Chiquita Brands International Inc. tumbled nearly 29 percent Monday after the banana and fresh fruit producer projected bleak third-quarter results.
The Cincinnati-based company said it expects to report a "significant loss" in its third quarter due to higher costs.
Ouch!
LOOOOOW volume for BA today. More contracts coming in though. Almost $34 million worth reported today. I think the only thing holding this down is the fact that I own some BA $85 calls.
The power of Samael owning calls in IBM isn't strong enough to keep IBM down though.
It isn't fun to bash Rufus any more. Come on, Rufus. We need new material! LOL!
What a POS.
Yes. I just noticed that myself. Under 2.4 million and it's after 3pm?
It's holding up well considering the low volume, IMO. I wonder if it does half the average volume today.
Yeah, IPI is mocking me further today. $4.00 today but I sold at .35 and .40.
However, If I had not sold at those prices, it dropped to the point of no bid and a .10 ask. With that price movement, who would have thought it would run from the low $40's to over $63 in the course of a week? Crrrrrrrrrrrrrap!
Toyota already has.
http://www.hydrogencarsnow.com/toyota-fchv-hydrogen-vehicle.htm
The market has no idea how many and how quickly these cars are coming.
Until the word gets out, the longs will control oil. Though, with a lot of volitility.
Honda is introducing a Hydrogen fuel cell car and a couple dozen will be available this year in CA.
By 2010, these will be full production, IMO and by more than just one company. If there's a retrace in oil today, IMO, it will be short lived but in the next couple years oil longs should watch out for lowering guidance.
IBM won't stay down:
IBMGG IBM JUL 135 Calls looking great today.
I don't see why BA even bothers with this:
http://biz.yahoo.com/ap/080616/boeing_navy_contract.html?.v=1
Boeing wins $17.6M Navy contract to convert jets
Monday June 16, 12:55 pm ET
What's 17.6 million to them? LOL! Just kidding but this reminds me of an article I read from a guy that talked about the street giving too much leverage to BA's backlog because the backlog can drop due to companies pulling out. While that's true, but with some penalty costs, BA keeps on adding work.
That's like telling McDonald's management that they should not be prepared for a noon lunch rush by pre-making a bunch of cheese burgers. Even if the rush isn't as good as expected, you know they'll be sold within an hour of projections. LOL!
This should help BA: http://www.reuters.com/article/marketsNews/idINN1648285820080616?rpc=44
UPDATE 1-U.S. Air Force lifts stop-work order on Boeing
WASHINGTON, June 16 (Reuters) - The U.S. Air Force has allowed Boeing Co (BA.N: Quote, Profile, Research, Stock Buzz) to resume work on a $1.2 billion contract for maintenance of KC-135 refueling aircraft after the Government Accountability Office on Friday denied a second protest filed by Alabama Aircraft Industries Inc (AAII.O: Quote, Profile, Research, Stock Buzz).
Market conditions not favorable? That's weird. LOL!
That's nothing. If this is reopened, BAM!
http://online.wsj.com/article/SB121358428934876429.html?mod=yahoo_hs&ru=yahoo
Washington Ruling Expected on $40 Billion Aerial-Refueling Contract
I have to respectfully disagree. Marvel is probably going to be putting movies out consistently.
I just took my son to see the Hulk and it was rad. Loved it and enjoyed it better than the first one.
At the end, they make another reference to The Avengers. IMO, that will be out later this year. It wouldn't surprise me to see Marvel building characters with movies 2 or 3 times per year now in the spirit of how they release the comics.
Just a thought. But there are tons of Marvel Heros that come together. I'm thinking we'll see a lot of them on the big screen.
BTW - Can't wait to see Hellboy II! Ohhhh yeahhhh.