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  1. Join Date
    Aug 2008
    Posts
    1,585
    #1

  2. Join Date
    Dec 2005
    Posts
    39,162
    #2

    Bro., "it" is free.....

    8303:dishwash:

  3. Join Date
    Sep 2006
    Posts
    4,488
    #3
    Magkano kayo isang litro ng gasolina kung ganun?

  4. Join Date
    Feb 2008
    Posts
    14,181
    #4
    Hahaha IMO not possible until oil does not become mainstream source of energy. As long as most people DO NOT use oil anymore to heat up their homes, power their cars then yeah $20 and even lower is possible. But by then you wouldn't care cause you're probably not using oil anymore kaya nga bumagsak ng ganun. And higher oil prices is MANDATORY for a healthy economy. LOWER oil prices just means lower demand (remember supply does not increase in fact it decreases over time since oil is finite).
    Last edited by tidus1203; July 18th, 2009 at 02:25 PM.

  5. Join Date
    Mar 2008
    Posts
    168
    #5
    Quote Originally Posted by Zeus View Post
    Magkano kayo isang litro ng gasolina kung ganun?
    Knowing the big 3 business practice here, siguro piso lang ang rollback nila.

  6. Join Date
    Nov 2005
    Posts
    45,927
    #6
    read carefully

    July 16 (Bloomberg) -- Crude oil will collapse to $20 a barrel this year as the recession takes a deeper toll on fuel demand, according to academic and former U.S. government adviser Philip Verleger.

    A crude surplus of 100 million barrels will accumulate by the end of the year, straining global storage capacity and sending prices to a seven-year low, said Verleger, who correctly predicted in 2007 that prices were set to exceed $100. Supply is outpacing demand by about 1 million barrels a day, he said.

    “The economic situation is not getting better,” Verleger, 64, a professor at the University of Calgary and head of consultant PKVerleger LLC, said in a telephone interview yesterday. “Global refinery runs are going to be much lower in the fall. If the recession continues and it’s a warm winter, it’s going to be devastating.”

    Crude oil last traded at $20 a barrel in February 2002. Futures were at $61.18 today in New York, having recovered 89 percent from a four-year low reached last December. The Organization of Petroleum Exporting Countries is implementing record supply cuts announced last year in response to plunging consumption.

    “OPEC don’t realize the magnitude of the cuts they need to make,” which would total about a further 2 million barrels a day, Verleger added. “Storage is going to become tight. It’s not clear if there’s going to be enough storage available.”
    notice that he just focused on supply and demand fundamentals

    he totally left out casino betting and inflation hedging by market players who are not commercial users of oil (those fundies)

    it's obvious to anyone who has been following the markets that supply and demand is not the only factor that affects oil price

    he didnt even mention how the value of the USD strongly affects oil price

  7. Join Date
    Feb 2008
    Posts
    14,181
    #7
    Well even without factoring speculative trades and value of the USD, oil at $20 is not possible even in the current demand-supply dynamics. Of course everyone is entitled to their beliefs but I seriously think he is mistaken.

  8. Join Date
    Mar 2008
    Posts
    172
    #8
    di ba they will start prosecuting the futures player responsible for the abnormal rise of oil last month? these are wise guys who milks the market in these times just like what short sellers do.

    but what if gas costs 16 pesos per liter and diesel cost 13 pesos now? would you guys just drive around coz fuel is cheap? does it mean more and more people are spending for gas just to joyride?

    there are lots of docked ships being used as storage bins for fuel. hedge fundies makes suckers look good but in the end they just die a little later than most of their hosts.

    today the media moguls are again painting a rosy picture that the world has seen the worst, i pity those suckers.....70 bucks or 20 bucks a barrel? what difference does it make?

  9. Join Date
    Feb 2008
    Posts
    14,181
    #9
    Hahaha its funny how people brand market speculators and short sellers as EVIL. Short sellers add liquidity to the market place. Just as anyone is free to profit from the upside, anyone should also be free to profit from the downside. That is the free markets! WHen things go abnormally high (for stocks) or abnormally low (for commodities) no one complains, all is fine. Pero when the reverse happens because of the excesses everyone becomes crybabies. Buti di ako ganun. I like to live the times. Pag umaakyat I am hoping I am long if bumababa I am hoping I am short.

  10. Join Date
    Nov 2005
    Posts
    45,927
    #10
    Quote Originally Posted by loidch View Post
    di ba they will start prosecuting the futures player responsible for the abnormal rise of oil last month? these are wise guys who milks the market in these times just like what short sellers do.
    no, not prosecute, nobody's going to jail

    sisitahin lang sila

    the USG will just limit the number of contacts they are allowed to hold

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 per barrel oil in 2009