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| Subject: Doesn't look like it on the charts | |
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Author: Oropan |
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Date Posted: 12:57:30 10/30/07 Tue In reply to: jw 's message, "Our "free market capitalism" continues to collapse, inflation surges!" on 07:07:42 10/29/07 Mon http://inflationdata.com/inflation/inflation_rate/HistoricalInflation.aspx > The reason cited for oil rising now is that mexico >just cut production by 600,000 barrels a day from the >gulf of mexico. While the current cutback in mexican >production is because of unusualy stormy conditions in >the gulf, mexican oil production is likely to fall >rapidly in coming years, as reserves were over stated. > Opec oil production is not being increased beyond >levels seen in recent years, even though opec claimed >it wanted to keep oil below 40 dollars a barrel, it is >now over 90! It is widely believed that opec has lied >about their reserves, they are overstated by a third, >which means that conventional oil capacity may be near >a peak, so we are now competing with chinese slaves >who will work 15 hours a day to fuel scooters, and >there are 1.3 billion chines, hope you enjoy >capitalist competition, i prefer to walk or ride a >bike! > > The dollar is hitting record lows almost every day >against the euro and many other currencies, including >third world currencies. Every week it seems prices at >the supermarket go up again, and by large amounts. I >do not remember price increases like this since the >70's - 1980, but at least in those days your pay kept >up with the price increase. Today the bush >administration claims that inflation is only 2 -3%, >which is an outright lie, our economy is in collapse, >the american century is over, we have been destroyed >by our own greed, not foriegn threats. > > Capitalism is the main cause of the arctic meltdown >and the coming climate catastrophe, no other system >could produde so much pollution. We now see that >capitalism is unable to provide for the people and it >is destroying our planet, it is a failed economic >system. > > >_______________________________________________________ >_ > >Crude Oil Climbs to Record Above $93 as Mexico Halts >Production > >By Mark Shenk > > Oct. 29 (Bloomberg) -- Crude oil climbed above $93 a >barrel in New York for the first time after Mexico >shut a fifth of its production and the dollar fell to >a record low. > >State-owned Petroleos Mexicanos, or Pemex, halted >about 600,000 barrels a day of output as a storm >passed through the Gulf of Mexico, spokesman Carlos >Ramirez said in Mexico City. The dollar dropped to >$1.4426 per euro, the weakest since the introduction >of the 13-nation common currency in 1999. > >``Such a massive shut-in by Pemex is bad for the >market because they are such an important supplier to >the U.S.,'' said Addison Armstrong, director of market >research at TFS Energy LLC in Stamford, Connecticut. >``There are no bearish factors in the market right >now.'' > >Crude oil for December delivery rose 56 cents, or 0.6 >percent, to $92.42 a barrel at 9:35 a.m. on the New >York Mercantile Exchange. Futures climbed to $93.20, >the highest since trading began in 1983. Oil is up 52 >percent from a year ago. > >Brent crude oil for December settlement rose 71 cents, >or 0.8 percent, to $89.40 a barrel on the London-based >ICE Futures Europe exchange. Brent reached $90, the >highest since trading began in 1988. > >The oil market ``may be only one or two events away >from'' $100-plus oil, Daniel Yergin, chairman of >Cambridge Energy Research Associates, said in remarks >prepared for a conference today at Georgetown >University. > >Mexican Crude Oil > >The U.S. imported an average 1.45 million barrels of >crude oil a day from Mexico during the first eight >months of the year, making the country the >second-biggest source of U.S. imports, according to >the Energy Department. > >``There are some legitimate storm fears out there but >the momentum was already pushing prices higher,'' said >Eric Wittenauer, an energy analyst at A.G. Edwards & >Sons Inc. in St. Louis. ``This may prove a non-event >because there are forecasts that show it may move away >from the Mexican fields. Until we know for sure where >it is headed the storm will remain supportive.'' > >At least 21 workers died when a rig hit an offshore >platform in the Gulf of Mexico during a storm that >produced waves as high as 26 feet and wind gusts of 81 >miles per hour on Oct. 23. Mexican President Felipe >Calderon ordered an investigation into whether the >accident could have been prevented. > >Gale-force winds from a weather system between Florida >and the Yucatan peninsula are whipping up 8-foot waves >in the Gulf of Mexico, according to the U.S. National >Hurricane Center. There are no named tropical storms >in the Gulf, and one near Cuba, called Noel, is >expected to twist northwards and avoid the Gulf. > >``What we're seeing in the oil market today is rooted >more in the cauldrons of geopolitics and the impact of >financial markets, expectations and psychology than in >supply and demand,'' said Yergin, whose book ``The >Prize: The Epic Quest for Oil, Money & Power,'' won >the Pulitzer Prize. > >Tensions between Turkey and Iraq over Kurdish >militants as well as over Iran's nuclear program have >also helped drive oil prices higher. > > >>Did you forget to take your meds today??? >>"Our free market is melting the arctic and greenland >>ice caps." >>Are you also smoking something? >>Oil prices are going high because of increasing demand >>around the world...especially Asia. I might also add >>because of kooky econut pressure to stop oil drilling >>anywhere in the USA. >>Anyway, now you can crawl back into your little econut >>hole and put on your tinfoil hat before the sky falls >>down on you. >> >> >> >> >> >> >> >> >>> Prices just keep rising, the dollar keeps >dropping, >>>america is worthless, all dictators, terrorists, and >>>most business crooks thank bush and the republicans >>>for following the "free market" cult and destroying >>>america. Russia is now extremely powerful, they are >>>now the second largest spender on the military, they >>>have begun flying nuclear armed planes around the >>>clock again, they are rapidly expanding their army, >>>and russia has again begun providing aid to america's >>>enemies, all thanks to the oil wealth bush and the >>>republicans have helped them aquire. >>> >>> Iran and other oil shiekdoms bent on america's >>>destruction are being greatly enriched thanks to bush >>>and the repbublican's failed energy policies, and >they >>>are working with china to develop more oil wealth and >>>increase their military capabilities. Now that bush >>>has screwed up iraq, we are not well prepared to >>>respond to the new threats posed from our oil-rich >>>adversaries that our economy has helped enrich and >>>strengthen. >>> >>> China collaberates with all of our enemies, they >>>are the primary backers of north korea and sudan, >>>china is helping iran and syria, they are also buying >>>up the third world. Our free markets have shipped >our >>>industry to china, depleting america of any real >>>productive economic output, while giving china the >>>technological and economic ability to become a >>>military superpower, and they are taking full >>>advantage of it. >>> >>> America is in retreat, our wealth and power is >>>being turned over to the dictators of the world who >>>seek our destruction, this is pretty pessimistic >>>stuff, i should have faith in bush, the republicans, >>>and their free market cult. Our free market is >>>melting the arctic and greenland ice caps. We just >>>lost 20% of the permenent arctic ice cap in just the >>>last summer, as much as we have lost over the last 27 >>>years of satalite measuremed arctic ice loss, over a >>>million square miles of the once 2.7 million square >>>mile arctic ice cap. A few years ago, the US navy >>>predicted that the ice cap would dissapear around >>>2013, it appears this forecast may be the most >>>accurate one. Even the more conservative national >ice >>>and snow data center is now predicting the loss of >>>summer arctic ice by 2030, which was pushed up from >>>2070. >>> >>> The arctic ice cap has been around about a million >>>years, our free market economy is causing one of the >>>most catstrophic changes on earth since the >>>destruction of the dinasaurs. It is not likely that >>>the dictatorships of russia, china, iran, north >korea, >>>saudia arabia, arab emirates, etc. will be able to >>>deal with the comming "evolution" the earth will go >>>through, so the earth will not be dominated by >>>dictatorship. We must admire the greatness of our >>>free market economy, even as it destroys america, it >>>will spare the world of global dominance by evil >>>dictatorships because it will destroy them also with >>>global warming. >>> >>> Finally, our free market economy will settle the >>>debate on evolution. Yes, there is evolution, but >>>unlike the darwinian version, it happens extremely >>>suddenly. The evolution we are beginning to >>>experience would normally take thousands of years, >but >>>our free market economy has greatly refined the >>>process, so we will see it in our lifetimes, assuming >>>we survive. >>> >>> We should stand in awe at the greatness of our >free >>>market economy, look at all this progress, who ever >>>thought we could witness evolution on a human time >>>scale? [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| You still believe bush administration statistice? | jw | 15:25:14 10/31/07 Wed |
| Why has the euro and other currencies gained 75% against the dollars value, | jw | 15:28:36 10/31/07 Wed |