Oil now at US$129/barrel and projected to hit US$150 by year's end

**tidus1203** · May 21st, 2008 11:23 AM

Yes dapat ingat din tayo sa sabi sabi since Boone Pickens owns a lot of oil and its in his interest to say it will go up. Pero believable naman siguro ang $150 by years end, ang depensa nalang natin is to go get HARD ASSETS so at least it keeps up with the inflation monster...

To learn about Boone Pickens http://en.wikipedia.org/wiki/Boone_Pickens

**uls** · May 21st, 2008 11:35 AM

Originally Posted by tidus1203

What I did is open a US brokerage account such as TD Ameritrade (www.tdameritrade.com) there are also others like Charles Schwab, Etrade, Fidelty just Google them. Wire money to the account and I bought USO (United States Oil Reserve Fund) which tracks the price of NY Light Sweet Crude Oil. I also bought GLD (StreetTracks Gold Fund) which tracks Gold prices.... You need US Dollars by the way to buy the commodity. I don't know any a way in the Philippines to buy oil since commodity and futures trading is banned here.

Magpadeliver ng isang tanker ng unleaded at itago sa bahay?

**tidus1203** · May 21st, 2008 11:52 AM

Hehehe pwede din pero baka may magnakaw pa or baka naman magvaporize kung nagtago ako ng physical gas. Mas maayos na yung gas funds and gas future contracts

**Hanren** · May 21st, 2008 12:09 PM

Originally Posted by uls

Totoo dude. Why would i lie? hehe

http://www.cnbc.com/id/24723260/site/14081545/

Di sya nagdidictate ng oil price.

Kino-condition lang nya ang market na tataas pa ang oil price.

The market listens to him coz he is a bigshot pagdating sa oil. The only people bigger than him are OPEC oil ministers.

He has huge bets on rising oil price... meron sya hedge fund noh??!!!

so he comes out on CNBC and says oil will rise to $150...

Coz he needs people dumb enough to buy his trades when he is already selling.

Matanda na ba ito? aanhin pa niya ang pera samantalang marami na ang naghihirap? tsk..

**tidus1203** · May 21st, 2008 12:14 PM

Capitalism at its finest, bro... As uls said di naman sya ang nagcontrol ng price ng oil but as an investor if you believe oil is going up (or a stock or any asset for that matter you grab it) then buy it diba? I am sure ayaw naman nya umakyat ang oil for the sake of profiteering from the poor masses, but since nagkataon yung ang umaakyat that's where he puts his money. If other assets like equities or gold go up I am sure Mr. Pickens will take a bite out it as well...

**uls** · May 21st, 2008 12:19 PM

hehe joke...

unless meron ako underground tank sa bahay tulad ng nasa gas stations hehe

haynako di ko na alam ang gagawin ko... P60 per liter, P70, P80...

magha-hijack nalang ako ng tanker!

joke lang ha.

Baka pag totoo na may naghijack ng tanker, ako ituro nyo.

**uls** · May 21st, 2008 12:23 PM

Originally Posted by Hanren

Matanda na ba ito? aanhin pa niya ang pera samantalang marami na ang naghihirap? tsk..

di naman mashado matanda... 80 lang naman sya... hehe

ayaw pa nya mag retire... workaholic e... work keeps him alive

tulad ni Uncle Warren from Omaha.

**bigMIKE** · May 21st, 2008 05:06 PM

Another way of protecting yourself from rising oil prices is to buy oil service companies like Transocean Rig (RIG) and Cameron International (CAM). These are the companies that build the platforms for oil exploration. Actually refiners are also squeezed with the high oil prices it is the oil service companies and oil exploration company that make a ton of money. Hopefully they share with us stockholders.

And another way to get ahead of the future is to buy alternative energy stock as these companies will be the next frontier of energy generation. Technology as well as government incentive will make these companies extremely profitable in the next few years.

I think there is a paradigm shift in the investment world in terms of gold, investors would rather buy industrial metals like copper, aluminum, iron as inflation hedge. This is specially true in China right now. That is why the price increase of gold is not as pronounced as industrial metals

**[archie]** · May 21st, 2008 06:27 PM

Originally Posted by uls

Totoo dude. Why would i lie? hehe

http://www.cnbc.com/id/24723260/site/14081545/

Di sya nagdidictate ng oil price.

Kino-condition lang nya ang market na tataas pa ang oil price.

The market listens to him coz he is a bigshot pagdating sa oil. The only people bigger than him are OPEC oil ministers.

He has huge bets on rising oil price... meron sya hedge fund noh??!!!

so he comes out on CNBC and says oil will rise to $150...

Coz he needs people dumb enough to buy his trades when he is already selling.

pang asar naman...

damn oil miners! hehehe joke lang

**uls** · May 22nd, 2008 09:03 AM

$133 na last night. $133!!!

Thanks to the banks that made $150-$200 predictions, thanks to Pickens, thanks to the traders... we will have weekly price increases at the pump forever.

Tidus, kumita ka na hehe

bibili na ako ng bicycle.