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<Snip>[color=blue]
>So my friends, why so much buying and selling of such a limited commodity
>over and over again driving the volume, and the price, through the roof?[/color]
<Snip>
This is because the people buying anticipate higher oil prices in the future.
This is also why the price dipped when the talk about drilling sounded
serious.
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Let me rephrase that.
Why does the same barrel of oil change hands 40 (forty) times, while two
years ago it was 5 (five)?
The price really dropped when they started investigating firms for
speculation - Enron style.... :-)
mc
Mike Church
-----Original Message-----
From: HP-3000 Systems Discussion [mailto:HP3000-L@RAVEN.UTC.EDU] On Behalf
Of Brice Yokem
Sent: Thursday, July 24, 2008 4:25 PM
To: [email]HP3000-L@RAVEN.UTC.EDU[/email]
Subject: Re: [HP3000-L] OT: Oil prices, and is it a conspiracy of sorts?
<Snip>[color=blue]
>So my friends, why so much buying and selling of such a limited commodity
>over and over again driving the volume, and the price, through the roof?[/color]
<Snip>
This is because the people buying anticipate higher oil prices in the
future.
This is also why the price dipped when the talk about drilling sounded
serious.
* To join/leave the list, search archives, change list settings, *
* etc., please visit [url]http://raven.utc.edu/archives/hp3000-l.html[/url] *
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Mike Church wrote in part:
....
The price really dropped when they started investigating firms for
speculation - Enron style.... :-)
mc
Mike Church
The above sentence demonstrates that whilst you may be a topnotch HP3000
person, you are, shall we say, clueless about world events. You probably
get your news from CNN, Fox or the NYT.
The price of oil dropped all of a sudden because of two reasons; primo, it
had reached a point where people started cutting back on their use of it,
and secundo, the pressure is building rapidly for rolling back drilling
moratoria and actually starting to drill in our neck of the woods again.
This prompted President Bush to lift the executive branch moratorium on off
shore drilling two weeks ago and now places congress in the precarious
position with respect to the sunsetting of the congressional moratorium on
drilling off the coast of California. The equipment is already there and
oil could flow from there within a year.
Could you please point to specifics about investigations of firms for
speculation? Which firms are you talking about? If you mean oil companies,
they have been investigated thoroughly for years now, every time the prices
goes up. Nothing is ever found and trust me, they go through an anal
examination. If you mean brokerage firms and such, then you simply do not
understand anything about the workings of such things. (Quickly now,
explain the concept of arbitrage.)
Denys...
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> Could you please point to specifics about investigations of firms for[color=blue]
> speculation? Which firms are you talking about? [/color]
Hey Denys,
I heard about an investigation on the radio this morning on my way to
work. One specific firm (I don't recall,) did something in 2007,
causing market prices to rise. Basically by driving up the price late
in the trading day every day for a whole week.
I'm sure it will be somewhere in the news today, if not, you can Google
it.
Tracy Johnson
Measurement Specialties Inc.
BT
NNNN
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Mike,
I wonder if it has to do with the fact that more and more of our oil
comes from domestic sources??
Thanks,
Jeff Kubler
At 04:35 PM 7/24/2008, Mike Church wrote:[color=blue]
>Let me rephrase that.
>
>Why does the same barrel of oil change hands 40 (forty) times, while two
>years ago it was 5 (five)?
>
>The price really dropped when they started investigating firms for
>speculation - Enron style.... :-)
>
>mc
>
>Mike Church
>
>
>-----Original Message-----
>From: HP-3000 Systems Discussion [mailto:HP3000-L@RAVEN.UTC.EDU] On Behalf
>Of Brice Yokem
>Sent: Thursday, July 24, 2008 4:25 PM
>To: [email]HP3000-L@RAVEN.UTC.EDU[/email]
>Subject: Re: [HP3000-L] OT: Oil prices, and is it a conspiracy of sorts?
>
><Snip>[color=green]
> >So my friends, why so much buying and selling of such a limited commodity
> >over and over again driving the volume, and the price, through the roof?[/color]
><Snip>
>
>This is because the people buying anticipate higher oil prices in the
>future.
>This is also why the price dipped when the talk about drilling sounded
>serious.
>
>* To join/leave the list, search archives, change list settings, *
>* etc., please visit [url]http://raven.utc.edu/archives/hp3000-l.html[/url] *
>
>* To join/leave the list, search archives, change list settings, *
>* etc., please visit [url]http://raven.utc.edu/archives/hp3000-l.html[/url] *[/color]
Jeff Kubler
Kubler Consulting, Inc.
541-745-7457
[email]jeff@kublerconsulting.com[/email]
[url]www.kublerconsulting.com[/url]
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