As the broader market began to regain lost ground, crude prices for April delivery gained 2.3% to a new high of $101.11 a barrel on the New York Mercantile Exchange, surpassing crude's last record of $100.65 hit last week.
...Jim Thompson
-- | James E.Thompson, P.E. | mens | | Analog Innovations, Inc. | et | | Analog/Mixed-Signal ASICK's and Discrete Systems | manus | | Phoenix, Arizona Voice:(480)460-2350 | | | E-mail Address at Website Fax:(480)460-2142 | Brass Rat | |
formatting link
| 1962 |
America: Land of the Freedom Abusers, Because of the Bastards.
It wasn't that long ago (around 1998-99) I was working on designing oil survey gear when the price was around $15 a barrel. Petrol prices certainly haven't gone up 700% since then... Petrol is still cheaper than milk and bottled water here in Oz. Funny how it all works huh?
What people *should* be watching is the price of Wheat, Soy Beans e.t.c. because that is where trouble will come from. In the middle east, India and Pakistan people are going from being middle class to having to choose between heating and eating! China has enacted price controls - *ensuring* a shortage (maybe they will shoot some farmers to get the point across that it is well to produce at a loss)
PS: And welcome to the brand new regime of Ressource limited growth replacing Finance limited growth. South Africa's mines are running below capacity due to lack of electricity.
You can thank the biofuel craze for that. Planting for burning drives up food from supply *and* demand sides, plus all the downstream products--and in other countries--too.
Unintended consequences:
Al Gore sounds alarm 2. biofuel craze 3. farmers grow feedstock for cars instead of people
Results: 4. Human misery increased a. inflation, locally b. food becomes unaffordable in Mexico and Haiti c. people starve
Environment not improved a. replacement food grown, appallingly inefficiently b. net CO2 emissions increase
I'm developing a milk-powered car. When petrol gets more expensive than milk, I'm gonna make millions.
Some idiots said they can power a car with water, I tried splitting water and I got 20% return of what I put in. Shit.... America you're lying to each other to no end. If you want to know the guy who discovered a solution for fuel problem then he is me. I just act funny that's all. I know a lot more than you gave me the credit. Ain't that a HOOT?
...Jim Thompson
--
| James E.Thompson, P.E. | mens |
| Analog Innovations, Inc. | et
|
| Analog/Mixed-Signal ASICK's and Discrete Systems | manus |
| Phoenix, Arizona Voice:(480)460-2350 | |
| E-mail Address at Website Fax:(480)460-2142 | Brass Rat |
| http://www.analog-innovations.com | 1962 |
America: Land of the Freedom Abusers, Because of the Bastards.
Not fair--Mr. Bush responds wholeheartedly (if ill-advisedly)--with Congress in tow--to their (Greens in general, and the LA Times in particular) criticism about not supporting alternative fuels, then they lambaste him when he does.
That's not helpful. We need less advocacy & more sensible discussion. But I suppose it's outrage that sells.
It is more than fair. I'll tell you why, when it comes to do the right thing, Bush did everything too late. And when it comes to do the wrong thing, he did it foolishly and very quickly. I'm sorry, I just can't see how you're going to succeed in convincing people. Did you see his rating down to 19% now? What are you smoking?
...Jim Thompson
--
| James E.Thompson, P.E. | mens |
| Analog Innovations, Inc. | et
|
| Analog/Mixed-Signal ASICK's and Discrete Systems | manus |
| Phoenix, Arizona Voice:(480)460-2350 | |
| E-mail Address at Website Fax:(480)460-2142 | Brass Rat |
| http://www.analog-innovations.com | 1962 |
America: Land of the Freedom Abusers, Because of the Bastards.
I didn't wite them, they are just 2 links that I found while waiting for the first cup of coffee to boil, this morning. When does the US wheat harvest start, I think I saw it was about 10 weeks from now?
I mean it's not fair for these same guys to criticize the man for doing the very thing they demanded he do.
Mostly no quarrel there, and I agree that biofuel's a bad idea. Greenies and other conspiracy-types think there's some easy, suppressed solution. There isn't.
Everyone wants magic, wants it free, and don't bother us with the details. Government, in the business of pleasing people, is more than happy to oblige...politicians of both parties *love* to spend money on their constituents, no matter what the cause.
I got the magic to double the MPG, just because I'm funny doesn't mean the magic doesn't exist. I've been driving a (doubled MPG) Mercedes and Infiniti for over two years now. I gave one to my gf, and she loves my technology.
...Jim Thompson
--
| James E.Thompson, P.E. | mens |
| Analog Innovations, Inc. | et
|
| Analog/Mixed-Signal ASICK's and Discrete Systems | manus |
| Phoenix, Arizona Voice:(480)460-2350 | |
| E-mail Address at Website Fax:(480)460-2142 | Brass Rat |
| http://www.analog-innovations.com | 1962 |
America: Land of the Freedom Abusers, Because of the Rat Bastards.
It is very likely, the crude oil price per barrel may get up to about $120 to $140 by the mid or end of the summer. The reasons are many. This means that the price of fuel will most likely rise by at least another 20%. There are futures contracts out on crude oil for a price point of $200 per barrel by year 2010.
The price of oil is rising faster than the normal rate of inflation. This will contribute to the cost of most everything we have. The rate of infation will be difficult to keep up with.
One of the causes for all of this is from the massive out-sourcing of manufacturing in foreign countries to have lower labour cost, and from letting our society become more dependend on other countries for energy and materials.
=46rom all that is going on, North America and most of Europe will become a third world economy. We will no longer be able to afford to live at the standard of living that we are used to. It will take a very big change of attitude and the way of doing things to fix the problem.
Or, the dollar drops to $101.11 per barrel. That's about 66.96 EU/ barrel. There's a good change that if you offered to settle in Euros, most oil producers would quote you a better rate than that.
--
Paul Hovnanian mailto:Paul@Hovnanian.com
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Life is like an analogy.
That's the right way to look at the transition. In 2003 the EURO makers said they will beat US because they hated Bush's arrogant act on Iraq, they pushed to Arabic countries to use EURO as their standard currency. US over-spent in every corner, that adds up to the mountain of fire.
...Jim Thompson
--
| James E.Thompson, P.E. | mens |
| Analog Innovations, Inc. | et
|
| Analog/Mixed-Signal ASICK's and Discrete Systems | manus |
| Phoenix, Arizona Voice:(480)460-2350 |
|
| E-mail Address at Website Fax:(480)460-2142 | Rat Bastard |
| http://www.analog-innovations.com | 1962 |
America: Land of the Freedom Abusers, Because of the Rat Bastards believe
in the daemon.
Some people think the imminent downfall of the US economy is going be a much bigger problem. The mortgage crisis is just the beginning. I sure hope the next president has more sense. China and other countries have huge amounts of dollars. If the dollar is sinking deeper, they will eventually cut their loss and dump their dollars at any price.
There is also good news: over here in euro-country the low dollar compensates the high oil prices a bit.
--
Programmeren in Almere?
E-mail naar nico@nctdevpuntnl (punt=.)
Rumors of our demise have been greatly exaggerated. (with apologies to Mark Twain)
Not likely. Old saying: "If you owe the bank $100k and can't pay, you've got a problem. If you owe the bank $100M and can't pay, the _bank_ has a problem."
The EU simply never allowed itself from being distracted from running its economies and industries based on sound fiscal principles.
Wrong. OPEC will still take dollars, or a number of other currencies. You just get quoted a different price, depending on what the demand for your particular currency is.
Its like the marketplace in Cuba. There's the 'domestic' peso and the convertible peso. The exchange rate on the convertible is much better (even than official exchange rates) and, if you are fortunate enough to have US dollars, magically, the empty shop shelves will be filled and you become a favored customer.
The dollar is becoming to the rest of the world what the Cuban peso is to the US dollar.
Which mountain and what fire is that?
--
Paul Hovnanian mailto:Paul@Hovnanian.com
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Time's fun when you're having flies. -- Kermit the Frog
Or just wait a while and $100M USD won't be that big a deal any more.
--
Paul Hovnanian mailto:Paul@Hovnanian.com
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Stupidity kills. But not nearly often enough.
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