ERHC Energy Inc (ERHE)

[ThatHawaiiGuy]

People like Richard Daughty have been warning people like you that the mess we are now in would happen for YEARS. He has also warned you to get gold and silver.

He has also provided you with solutions, namely SOUND MONEY, and owning gold and silver.

ERHE seems to have quite a few posters who only post on this board who see nothing but buying ops all the way down...all the while it looks like this stock is a victim of naked short selling...and this board smacks of boiler room.

Oil is headed lower, last time I was here it was near 70, now it's nearer 60 and the same pumpers tell you it won't go to 50 because of OPEC...

They also tell you that although the rest of the market is crashing and oil stocks are part of that crash that ERHE isn't going to go any lower...because you know penny stocks are immune due to the fact that everybody knows good news is just around the corner...which in fact may be. Meantime ADV isn't in an uptrend...

If there are so many so in love with this stock and it's potential, getting more shares without spending more money should be a no brainer...that is the age old technique of rolling your shares...all you pay is commissions on two trades trades...

Oil Falls on Concern OPEC Cut Won't Halt Slide as Demand Drops
http://www.bloomberg.com/apps/news?pid=20601116&sid=aDS_EGuIvD1U&refer=africa

Oil falls $4 as OPEC cut fails to halt slide
http://www.guardian.co.uk/business/feedarticle/7921573

OPEC cut 'not enough'
http://www.bunkerworld.com/news/2008/10/73762

OPEC won't ask Russia for production cuts
http://www.forbes.com/feeds/ap/2008/10/21/ap5585782.html

Norway won't cut oil production
http://www.aftenposten.no/english/business/article2726694.ece


Gas Man: How low will oil go?
http://www.record-eagle.com/business/local_story_298095334.html?keyword=secondarystory

By STEPHEN SUTHERLAND
Local columnist

New estimates forecast oil to go as low as $50 a barrel. Could that really happen? It's already around $68 a barrel. So what happens now? How will things change -- not just in the street prices, but around the world?

Picture a football game, and your team is on its own 40-yard line. There is room to run, throw a short pass or even the long bomb. Now picture your team on its own 5-yard line. It can't afford to back up, a long bomb is too risky, so it must resort to conservative, no-risk plays.

It's the same in the world market for the oil-producing nations. When oil was above $100 a barrel, these countries were swimming in cash; cash for luxuries, for rebuilding and in some cases for defense spending and to wage war.

Today, things are changing for many of these countries. The money wagon stalled, hampering their ability to fulfill commitments or to regain or establish their positions as world powers.

According to Leo Drollas, deputy director of the Centre for Global Energy Studies, Venezuela and Iran need oil prices above $80 a barrel since half of their revenues are derived from oil sales. Recently Russia flexed its muscles against smaller countries and around the world. It's alleged that Iran has been funding many of the hostilities in Iraq.

But with oil profits below their profit lines, things may change. Without all the extra capital from higher oil prices, aggressive nations may have to tone things down.

The rest of the world is starting to breathe a little easier. Sure we still have the banking and real estate problems, but gasoline is a buck and a half cheaper per gallon than just a few months ago.

Elections are just a couple weeks away, and even though in this country Congress controls the spending and most policies, the outgoing president caught most of the blame. You've heard all the rhetoric from both sides of the aisle, blaming the administration for rising oil costs, falling real estate and the banking problems. Now that's a lot of blame for one man and I'd take a different view.

Many credit the banking and near-Depression stock market collapse for the rapid fall of the oil prices, and yes I know that's the buzz all over the world. But I'd point to increasing oil prices for the world economy spiraling downward. The skyrocketing cost of fuel took away those extra funds that helped pay mortgages for many people. The mortgages went into default and the banking industry that was living on the edge also went into default.

I know it's not popular to credit President Bush for anything these days. But look at the facts before you decide what or whom was responsible for the collapse of the crude oil prices and what will eventually help fix this economy.

Prior to July 16, the price of crude oil increased to more than $146 per barrel. That day Bush announced he would lift the ban on off-shore drilling. Over the next few days crude oil prices dropped by approximately $16 a barrel and the rack price followed. Within a few days Congress went on vacation, which seemed to have stalled the downward spiral. But it took no action to extend the offshore drilling ban and since then the crude oil price continued to tumble by as much as 50 percent.

Coincidence you say? During the presidential campaign it's been said many times that the U.S. has only 3 percent of the world's oil but accounts for 25 percent of the world's consumption. This statement has been used to show we cannot drill our way out of this problem. The fact is, it's simply because we use 25 percent of the world's consumption that's caused the price to fall.

America's new pledge/objective to gain energy independence has put fear into oil-bearing nations that their ability to sell their product will soon decline drastically. Our independence will dramatically impact supply and demand. Once our demand drops, supply will climb unless the world produces less. Just the whisper that we may drill offshore has dropped the price of crude oil by 50 percent, and for that you can thank Bush.

[You can "thank" the men who told the chimp what to say. Same men who took oil to 147 in the first place; same men who will take it to 50 in order to achieve a well defined agenda.]

Certain people in our government need to stop downplaying America's position and its importance in the world. To diminish our value and importance for political purposes is wrong and harmful. America still has the ability to lead and change the world.