ot: Crude Record

[AgilisMerlin]

Crude Oil hits Record over 112.00$ a barrel :crap:


lambs to slaughter

[shinomaster]

Oh yay! what a good reason to commute by bike. :bike:

[AgilisMerlin]

a record is a record:

Ed Sutherland - AHN Editor
New York, NY (AHN) - Crude oil hit a record $112.21 a barrel Wednesday afternoon, gaining nearly $4 on word of a fall in government stockpiles. Crude oil was up $2.90 to $111.40 a barrel as of 2:44 Eastern.

The spike in prices followed an Energy Information Administration report that crude oil inventories declined to 316 million barrels, a 3.2 million drop for the week. Analysts had predicted a 2.7 million barrel increase.

Although U.S. refineries were operating at 83 percent of capacity, the government said gasoline supplies dropped 3.4 million barrels in the week ended April 4.

U.S. oil imports were lower, falling to an average of 8.9 million barrels a day, a drop of 1.4 million barrels

[ThasFACE]

It will be interesting to see what kind of effect this (http://www.redorbit.com/news/business/1318522/research_on_bakken_formations_oil_reserves_nearly_ completed/) will have.

[avalonracing]

Tell me about it... It was over $100 to get my oil changed at the Mercedes dealer today. I wonder if they use a whole barrel or if they are bending me over one. :crap:

[AgilisMerlin]

like the torture rack

half a turn here, half a turn there.................discomfort.........

no one bats an eye at the records no more.....................we are numb......car interiors smell gooooooooooooooooooood.

[znfdl]

Oh yay! what a good reason to commute by bike. :bike:

+1 and minus many gallons of gas

[sg8357]

The cheering you hear in the background is the Sierra Club and the US nuclear power industry.

Long live the electric car, powered by atoms for peace.

[Ahneida Ride]

It ain't dollars it's frns .... fed reserve notes.
Created outa thin air to sustain and expand the Massive US debt.

As the M1 money supply tripled since the early 90's well so did gas.
Not rocket science. An idiot like me could figure that out.

In dollars (notes backed by a tangible asset, say gold) gas is cheap.
Takes work to make a tangible asset, takes no work to type digits
into a computer spreadsheet and charge interest on it.

Gas is traded in frns, one must examine both oil and frn.

This is the end result of creating $$$$ far in excess of Capital creation.
It's the inflation (frn dilution) tax.

won't be long till 5 frn/gallon .... Serotta will sell a lota bikes ....

[Sandy]

It ain't dollars it's frns .... fed reserve notes.
Created outa thin air to sustain and expand the Massive US debt.

As the M1 money supply tripled since the early 90's well so did gas.
Not rocket science. An idiot like me could figure that out.

In dollars (notes backed by a tangible asset, say gold) gas is cheap.
Takes work to make a tangible asset, takes no work to type digits
into a computer spreadsheet and charge interest on it.

Gas is traded in frns, one must examine both oil and frn.

This is the end result of creating $$$$ far in excess of Capital creation.
It's the inflation (frn dilution) tax.

won't be long till 5 frn/gallon .... Serotta will sell a lota bikes ....

But what will the frns/$$$$ be worth people use to pay Serotta for the bikes?


$$$$$$$$$$$$$$Sandy$$$$$$$$$$$$$

[abqhudson]

The price of oil seems to track the devaluation of our money - does anyone care? Can anything be done about it? I'm very interested to know what might be done. Realistic - not pie in the sky. If there is something that can be done - let's get started. Sorry for such a sobering thought.

[barry1021]

It ain't dollars it's frns .... fed reserve notes.
Created outa thin air to sustain and expand the Massive US debt.

As the M1 money supply tripled since the early 90's well so did gas.
Not rocket science. An idiot like me could figure that out.

In dollars (notes backed by a tangible asset, say gold) gas is cheap.
Takes work to make a tangible asset, takes no work to type digits
into a computer spreadsheet and charge interest on it.

Gas is traded in frns, one must examine both oil and frn.

This is the end result of creating $$$$ far in excess of Capital creation.
It's the inflation (frn dilution) tax.

won't be long till 5 frn/gallon .... Serotta will sell a lota bikes ....

just get the handlebar tape out so we can ride in style!!!! :cool:

Oil is dollar denominated worldwide, saudis already talking about switching to another currency, just like Tom Brady's girlfriend. The end is near. Don't get me started.

b21

[fierte_poser]

The price of oil seems to track the devaluation of our money - does anyone care? Can anything be done about it? I'm very interested to know what might be done. Realistic - not pie in the sky. If there is something that can be done - let's get started. Sorry for such a sobering thought.

Read 'The Dollar Crisis'.

1) Stop the trade deficit. Force imports = exports between the US and each one of its trading partners.

2) Wait for the world to implode. It'll be bad here, but it will be worse in all of the countries that depend on the US consumer to buy their crap. Can you say excess capacity in just about every factory/plant in the world?

BTW, the world economy has become superheated by all of these extra FRNs that are floating around...funny how the Fed and the Treasury keep frantically pumping more FRNs into the system trying to keep the inevitable bubble burst at bay. Good luck with that guys...

[AgilisMerlin]

It ain't dollars it's frns .... ....


thanks for the link

[regularguy412]

In dollars (notes backed by a tangible asset, say gold) gas is cheap.
Takes work to make a tangible asset, takes no work to type digits
into a computer spreadsheet and charge interest on it.

<snipped>..

Yup.

And the ones that are charging the interest are located in a big, red country over in southeast Asia. No _WONDER_ they want to keep us 'afloat'.

<sigh>

Mike in AR

[Tobias]

The price of oil seems to track the devaluation of our money - does anyone care? Can anything be done about it? I'm very interested to know what might be done. Realistic - not pie in the sky. If there is something that can be done - let's get started. Sorry for such a sobering thought.Those who work in or enjoy an energy sensitive activity probably care a lot; particularly if their jobs are at risk. A good example is what is occurring in the RV (recreational vehicle) industry.

The trend for years was to build them bigger and bigger because the incremental initial cost to add size is minimal. Now with gas approaching $4.00 per gallon many RVers are realizing that the cost for longer-distance trips at 6 to 8 MPG is prohibitive, or at least much more expensive than staying in nice hotels or resorts.

Unfortunately markets sometimes have to correct for inefficient behavior. In this case some camp grounds added to the problem by being snooty, prohibiting tent campers, pop-up trailers, van campers, etc. which are far more energy efficient. It’ll be interesting to see if they back-pedal and change their regulations to attract business.

In time markets adjust to change, but not without pain. Used RV and RV rental lots in my area are overflowing with behemoths, and manufacturers are introducing smaller and lighter campers. Other industries will also adjust to higher energy costs -- or disappear.