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Thread: Iranian Gunboats To Enter Suez Canal

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    Senior Member Franco's Avatar
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    Default Iranian Gunboats To Enter Suez Canal

    Israel says that they may act.

    Oil over $103. per barrel and climbing.

    http://www.businessweek.com/news/201...-via-suez.html

    Is it time to turn the Israelies loose on radical Islam?
    Will they get the arms they need from us? The Obama Administration has already cutback on arms to the Israelies. The French are willing to supply them but most of what they have is not compatable with planes or weapons from America.

    Since Obama became President, Israel feels like they stand alone against millions of radical Muslims and numerous hostile countries.

    Will be abandon our last remaining friend in the middle-east?
    Last edited by Franco; 02-16-2011 at 12:10 PM.
    “The end of democracy and the defeat of the American Revolution will occur when government falls into the hands of lending institutions and moneyed incorporations.” –Thomas Jefferson

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    Senior Member M&K's Retrievers's Avatar
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    Already has.
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    Quote Originally Posted by Franco View Post
    Israel says that they may act.

    Oil over $103. per barrel and climbing.

    http://www.businessweek.com/news/201...-via-suez.html

    Is it time to turn the Israelies loose on radical Islam?
    Will they get the arms they need from us? The Obama Administration has already cutback on arms to the Israelies. The French are willing to supply them but most of what they have is not compatable with planes or weapons from America.

    Since Obama became President, Israel feels like they stand alone against millions of radical Muslims and numerous hostile countries.

    Will be abandon our last remaining friend in the middle-east?


    to address the RIDICULOUS projected price of $103 per barrell i have to ask when we will rein in the jerks buying and selling oil futures to the entire country's detriment. didn't we learn ANYTHING the last time???? THAT'S what's cranking up the price. the law of supply and demand doesn't apply to oil anymore. we have stepped back in time to the era of the Robber Barons and "all the market will bear".-Paul
    Last edited by paul young; 02-16-2011 at 01:38 PM.
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    Senior Member Franco's Avatar
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    Quote Originally Posted by paul young View Post
    to address the RIDICULOUS projected price of $103 per barrell i have to ask when we will rein in the jerks buying and selling oil futures to the entire country's detriment. didn't we learn ANYTHING the last time???? THAT'S what's cranking up the price. the law of supply and demand doesn't apply to oil anymore. we have stepped back in time to the era of the Robber Barons and "all the market will bear".-Paul
    The price per barrel is determined not by the oil producers but the people that buy and sell futures, the speculators.

    Two years ago when the price was driven to $157. per barrel, many of those speculators lost thier shirts when they had to pay that price for oil that was worth $80. at delivery time. Likewise, if investors buy futures at $103 per barrel and the price is $125 at delivery, then they make money.

    The price is global and how to you rein in speculators from China or India?

    Want lower prices, then support more drilling!
    Last edited by Franco; 02-16-2011 at 05:17 PM.
    “The end of democracy and the defeat of the American Revolution will occur when government falls into the hands of lending institutions and moneyed incorporations.” –Thomas Jefferson

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    Senior Member M&K's Retrievers's Avatar
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    Quote Originally Posted by Franco View Post
    ?

    Want lower prices, then support more drilling!
    Franco, for some reason, that concept is hard to sell around here.
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    Senior Member BonMallari's Avatar
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    gas prices went up .04 cents overnight at the place where I fill up 3.25/gal 89 octane
    All my Exes live in Texas

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    A few things that I learned still ring true. "Lanse when you get a gift, say thank you and walk away. When you get a screwing walk away. You are going to get a lot more screwings than gifts"

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    Senior Member dnf777's Avatar
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    Quote Originally Posted by M&K's Retrievers View Post
    Franco, for some reason, that concept is hard to sell around here.
    Because its not valid.

    Increased production = lower prices= increased consumption=higher prices

    There's an economic eponym for that phenomenon, but its been tested and held true from 19th century coal in Europe.....to modern oil usage.
    God Bless PFC Jamie Harkness. The US Army's newest PFC, but still our neighbor's little girl!

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    Senior Member Franco's Avatar
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    Quote Originally Posted by M&K's Retrievers View Post


    Franco, for some reason, that concept is hard to sell around here.
    Just remember that 40% of our oil USE to come from the Gulf Of Mexico.

    What gets produced in the gulf gets refined in the USA and consumed here.

    Everytime we cut production, OPEC is right behind us. Everytime we increase production, OPEC is in lockstep.

    Obama and his administration's war on oil drilling in the gulf could well be his Iraq & A'stan.


    And Buzz, the last person you would ever get real and reliable information from is a Wall St analysis.
    Last edited by Franco; 02-16-2011 at 06:56 PM.
    “The end of democracy and the defeat of the American Revolution will occur when government falls into the hands of lending institutions and moneyed incorporations.” –Thomas Jefferson

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    Senior Member M&K's Retrievers's Avatar
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    Quote Originally Posted by dnf777 View Post
    Because its not valid.

    Increased production = lower prices= increased consumption=higher prices

    There's an economic eponym for that phenomenon, but its been tested and held true from 19th century coal in Europe.....to modern oil usage.
    Strange observation, dnf. Consider this: in the last week during the coldest winter in ages, natural gas shortages are everywhere due to increased usage. During this same time natural gas, which is produced here, has dropped from $4.70ish to $3.92 in a little over a week. I guess your "eponym" only applies to oil and 19th century coal.
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    Does anyone really believe that if the world oil prices per barrel is $100 and that more drilling is done in the Gulf or Alaska that the oil companies here would sell their oil for $40 a barrel?

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