Comments on: Crude oil price reaches new high http://mensnewsdaily.com/2008/02/29/crude-oil-price-reaches-new-high/ Men's Rights Activism, MRA Politics, Analysis, Commentary and Global News Mon, 23 Nov 2009 00:13:24 -1000 http://wordpress.org/?v=2.8.6 hourly 1 By: Tancredman http://mensnewsdaily.com/2008/02/29/crude-oil-price-reaches-new-high/comment-page-1/#comment-59504 Tancredman Fri, 29 Feb 2008 23:22:22 +0000 http://mensnewsdaily.com/2008/02/29/crude-oil-price-reaches-new-high/#comment-59504 The Price of Oil: The Pessimistic Fundamentalists vs The Aggressive Technicians The Fundumentalists... "I'm short on oil and gas"(referring to natural gas) spoke Texas oil billionaire T Bone Pickens to Kenneth Morrait who repeated his statement on the KRLD Dallas talk radio broadcast 2/23/08. A short position in the oil futures market refers to the placement of a sell order on an oil futures contract in the hopes of buying it back at a lower price in the future for a profit. (A long position is a purchase order contract to sell in the future.) According to the Energy Information Administration, crude oil inventories have increased for the seventh week in a row in the US by 3.42 million barrels in the past week exceeding Wall Street expectations of an increase of 2.5 million barrels as reported by RTTNews-Global Investment Newswires 2/27/08. "We may get some relief from these gasoline prices increases in the future" spoke Ed Wallace on his KLIF Dallas talk radio show to an irrate woman listener. Ed Wallace (creator of the insideautomotive.com website and free lance writer for Business Week Auto) was explaining how the US refineries in 2008 will no longer experience seasonal temporary shut downs in the spring months of March, April and May to complete the production adjustments to add MTBE (Methyl Tertiary Butyl Ether) or other designer gasoline oxidants to reduce hydrocarbon emmissions during the summer months due to EPA regulations. He explained how the US Congress in 2006 had amended the Clean Air Act to allow refineries to substitute more ethanol for the other gasoline additives formerly required under the Act, to take effect in 2008. By substituting a greater volume of ethanol in refined gasoline, oil refiners could increase the volume of ethnol in gasoline during the summer driving months, thus reducing the demand for oil required to produce a barrel of gasoline and also avoiding the regular seasonal refinery shutdowns of the past to add MTBEs to the gasoline. And now the Aggressive Technicians.... The price of oil has risen by approximately 50% in the last year. This is attributed to the near tripling of oil futures purchase price contracts in the last two years. Driven by large investment houses like Goldman Sacks and Deutch Bank who are attempting to escape from the REIT (Real Estate Investment Trust) bubble and the resulting subprime meltdown to further diversify their investments in commodities (such as oil), gold and foreign currencies. For a clear and detailed report on these investment motives see the Spiegel Online report liked here: http://www.spiegel.de/international/business/0,1518,538412,00.html So....have you placed you corn price futures purchase contract orders yet? Well....GO LONG! The Price of Oil:
The Pessimistic Fundamentalists vs The Aggressive Technicians
The Fundumentalists…
“I’m short on oil and gas”(referring to natural gas) spoke Texas oil billionaire T Bone Pickens to Kenneth Morrait who repeated his statement on the KRLD Dallas talk radio broadcast 2/23/08. A short position in the oil futures market refers to the placement of a sell order on an oil futures contract in the hopes of buying it back at a lower price in the future for a profit. (A long position is a purchase order contract to sell in the future.)
According to the Energy Information Administration, crude oil inventories have increased for the seventh week in a row in the US by 3.42 million barrels in the past week exceeding Wall Street expectations of an increase of 2.5 million barrels as reported by RTTNews-Global Investment Newswires 2/27/08.
“We may get some relief from these gasoline prices increases in the future” spoke Ed Wallace on his KLIF Dallas talk radio show to an irrate woman listener. Ed Wallace (creator of the insideautomotive.com website and free lance writer for Business Week Auto) was explaining how the US refineries in 2008 will no longer experience seasonal temporary shut downs in the spring months of March, April and May to complete the production adjustments to add MTBE (Methyl Tertiary Butyl Ether) or other designer gasoline oxidants to reduce hydrocarbon emmissions during the summer months due to EPA regulations. He explained how the US Congress in 2006 had amended the Clean Air Act to allow refineries to substitute more ethanol for the other gasoline additives formerly required under the Act, to take effect in 2008. By substituting a greater volume of ethanol in refined gasoline, oil refiners could increase the volume of ethnol in gasoline during the summer driving months, thus reducing the demand for oil required to produce a barrel of gasoline and also avoiding the regular seasonal refinery shutdowns of the past to add MTBEs to the gasoline.
And now the Aggressive Technicians….
The price of oil has risen by approximately 50% in the last year. This is attributed to the near tripling of oil futures purchase price contracts in the last two years. Driven by large investment houses like Goldman Sacks and Deutch Bank who are attempting to escape from the REIT (Real Estate Investment Trust) bubble and the resulting subprime meltdown to further diversify their investments in commodities (such as oil), gold and foreign currencies. For a clear and detailed report on these investment motives see the Spiegel Online report liked here:

http://www.spiegel.de/international/business/0,1518,538412,00.html

So….have you placed you corn price futures purchase contract orders yet?
Well….GO LONG!

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