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30,000 hits. Journey to the Center of the Earth: OIL LOG
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Henry



Joined: 03 Apr 2001
Posts: 2878
Location: NYC

PostPosted: Wed Oct 22, 2008 9:06 am    Post subject: Reply with quote

"drill baby, drill drill drill"

(of course with consumption down...and our collective financial pot bled dry if you want to drill drill drill then I submit to you go ahead and drill)

And believe me when I say this is only the tip of the melting iceberg.
Consider all this a prelude.





http://www.nytimes.com/2008/10/22/business/22drug.html?_r=1&th&emc=th&oref=slogin


“People are having to choose between gas, meals and medication,” said Dr. James King, the chairman of the American Academy of Family Physicians, a national professional group. He also runs his own family practice in rural Selmer, Tenn.

etc.
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Henry



Joined: 03 Apr 2001
Posts: 2878
Location: NYC

PostPosted: Fri Oct 24, 2008 1:26 pm    Post subject: Reply with quote

You go figure it out for yourselves. But it is a bit more complicated than you might think. And also a lot less complicated than you realize. But there's probably a heck of a lot that isn't apparent to me and to you.

One thought is that it's Election Day soon and prices always go down, and it's winter soon and with reduced drilling they'll be increased need and prices go up, another thought is that many, many of us are now hanging on by a shoe string...

So think about it a bit.

But remember...The Chinese and the Indians, oh yeah, they need oil. However, just not right now.

Read your business sections of the major press. Financial Times, NYT and WP. Make up your own mind.

PS...drill, drill, drill...drill, baby, drill...now, who is it that said that?


http://www.washingtonpost.com/wp-dyn/content/article/2008/10/24/AR2008102400734.html?hpid=topnews


OPEC Slashes Production; Crude Continues to Tumble

Saudi Arabia Minister of Petroleum and Mineral Resources Ali bin Ibrahim Al-Naimi, arrives for an extraordinary meeting of the Organization of the Petroleum Exporting Countries, OPEC, at their headquarters in Vienna, on Friday, Oct. 24, 2008. OPEC oil ministers are expected to cut output in an effort to shore up sagging prices. (AP Photo/Ronald Zak) (Ronald Zak - AP)


By GEORGE JAHN
The Associated Press
Friday, October 24, 2008; 11:52 AM
VIENNA, Austria -- OPEC said at an emergency meeting Friday that it will slash oil production by 1.5 million barrels to stem the "dramatic collapse" of oil prices, but crude prices plunged 5 percent anyway as financial markets spiraled downward across the globe.

Demand for crude has evaporated and the supply levers held by the Organization of Petroleum Exporting Countries appear to have little influence in the current economic climate.


etc.
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Henry



Joined: 03 Apr 2001
Posts: 2878
Location: NYC

PostPosted: Mon Oct 27, 2008 7:04 pm    Post subject: Reply with quote

http://www.washingtonpost.com/wp-dyn/content/article/2008/10/27/AR2008102700464.html?hpid=topnews


Oil Prices Fall as Investors Eye Weak Demand


Traders deal in the crude oil futures pit of the New York Mercantile Exchange on Monday, Oct. 27, 2008, in New York. Oil prices traded below $63 a barrel Monday as investors brushed off OPEC's sizable output cut, focusing instead on growing evidence of a severe global economic slowdown that would undermine crude demand. (AP Photo/Jin Lee) (Jin Lee - AP)


By JOHN PORRETTO
The Associated Press
Monday, October 27, 2008; 5:22 PM
HOUSTON -- Oil prices waffled Monday, touching their lowest levels in nearly a year and a half but also showing some strength after a surprisingly upbeat home sales report gave investors a glimmer of hope that the housing market might rebound and help ease the economy's many problems. Crude finally ended the day falling less than a dollar.

Oil dropped as low at $61.30 a barrel in early trading before rising in response to the Commerce Department report that sales of new single-family homes rose by 2.7 percent in September to a seasonally adjusted annual rate of 464,000 homes. Economists had expected sales would drop from August.


etc.
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Henry



Joined: 03 Apr 2001
Posts: 2878
Location: NYC

PostPosted: Thu Oct 30, 2008 12:52 pm    Post subject: Reply with quote

I thought I heard, " the fundamentals of the economy were sound."

I know my friends didn't say that. I know my mom didn't say that.

Or was it the guy who "I don't know anything about economics" who said that? (what's his name...I forget) Or was it the moose hunter who said it? Or was you consistently, flagrantly, blatantly, lied to and then taken for idiots because you believed all of this crap?

Hey, I believe the earth is 7,000 years old. I'm no dope.
And all this took 6 days to make. Gotta be a real idiot to doubt this.

And if you want more of this then you know what to do on Tuesday.




http://www.washingtonpost.com/wp-dyn/content/article/2008/10/30/AR2008103001434.html?hpid=topnews



Economy Shrinks in Third Quarter; Markets Start Off Strong


By Kim Hart and Howard Schneider
Washington Post Staff Writers
Thursday, October 30, 2008; 1:23 PM

The U.S. economy shrank by 0.3 percent in the third quarter, government data released this morning show, confirming an economic slowdown that was already showing itself through steady job losses and declining consumer sales.
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tncean



Joined: 26 Feb 2005
Posts: 1652
Location: Chattanooga, Tn.

PostPosted: Fri Oct 31, 2008 8:20 am    Post subject: Reply with quote

As I understand it, pure capitalism will eventually concentrate the majority of the economy into only a few "major" players. These few players call all the shots, set the prices, and, basically, control ALL the other aspects of an economy.
This is not an anti-capitalism statement. History teaches us that "fair trade" will require regulations, monitoring, and enforcement by government entities that are enplaced to keep checks and balances in place.
Anybody remember Standard Oil?

In 1999, congress, after recieving huge lobbying $, efforts, from mostly Citibank, Mastercard, and some other big insurers and mortgage industries, is to "blame" for allowing this s to happen. Even pre-modern history teaches us that easy credit and high interest will screw things up.

It is interesting that 90% of the mortgages are paid on time. Kind of makes you wonder just what the hell do a bunch of number-punchers wearing business suits and ties do for the good of society, anyway? Make themselves even richer at the expense of another's sweat? How many millions does one man need? An old question, I'm sure.

It's just astonishing, to me, that mainstream society can be costantly mainipulated and duped into voting for the same buch of lawmakers, time after time. The media is a powerful tool.

Certainly, evil will cloak itself in rightousness.

Like everyone else, I'm just glad I can get back and forth to work, to the store, without it costing as much.... for now.

Greed will always be with us. Always. Greed and the want of power over others.

t
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Henry



Joined: 03 Apr 2001
Posts: 2878
Location: NYC

PostPosted: Tue Nov 04, 2008 12:30 am    Post subject: Reply with quote

one more day...please, just one more day

and you can keep your lousy snowflake as a souvenir.
along with the other assorted miles and piles of spoon fed garbage.

this reminds me of a blizzard or two or three.
never melted. had to dig our way out of it.
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Henry



Joined: 03 Apr 2001
Posts: 2878
Location: NYC

PostPosted: Tue Nov 04, 2008 9:09 am    Post subject: Reply with quote

Since I'm writing this at 8:00 am from Roland OK., I might be a bit premature.

However, I won't miss one lousy political minute of the past almost 8 years.

Since this is premature; I'll stop here and enjoy the almost $2.00 reduction for a gallon of gas and the sub-$40.00 motel rooms.

Had a tailwind yesterday from Santa Fe all along I-40 and averaged an amazing 37+! mpg on my 200,000 mile M-42.
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Henry



Joined: 03 Apr 2001
Posts: 2878
Location: NYC

PostPosted: Thu Nov 06, 2008 10:39 am    Post subject: Reply with quote

nice trip 2000 miles...will compute gas mileage later.

prices down about 2- per gallon since summmer
motel prices down
gas mileage way up


Very Happy Shocked Shocked Very Happy Very Happy Very Happy Very Happy Very Happy Very Happy Very Happy Very Happy Razz
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Henry



Joined: 03 Apr 2001
Posts: 2878
Location: NYC

PostPosted: Fri Nov 07, 2008 10:36 pm    Post subject: Reply with quote

I've always thought that it's the results that count. You know, success.
For instance, the successfully meeting the challenges and unique circumstances of the past "8" years.

Well, here's our SUMMARY SHEET. And as a Republican Conservative, neo and otherwise I AM SO VERY, VERY PROUD. I can hold my head high and present you with the results of my (as was once written here by someone else 5- or + years ago) hidden, secret and patriotic agenda.

Here.


http://www.washingtonpost.com/wp-dyn/content/article/2008/11/07/AR2008110701246.html?hpid=topnews




Job Losses Soar, Unemployment Rate at 14-Year High


By Howard Schneider
Washington Post Staff Writer
Friday, November 7, 2008; 11:54 AM
The U.S. economy shed 240,000 jobs in October and the unemployment rate jumped sharply to 6.5 percent, a worse-than-expected showing that highlights one of the top issues President-elect Barack Obama faces when he meets with his economic advisers later today.

etc.




it will be nice to have a professional at the helm
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Henry



Joined: 03 Apr 2001
Posts: 2878
Location: NYC

PostPosted: Mon Nov 10, 2008 8:57 pm    Post subject: Reply with quote

Nothing in the world could have made me happier.



http://www.washingtonpost.com/wp-dyn/content/article/2008/11/10/AR2008111001492.html?hpid=topnews



President Bush Greets Obama at White House

VIDEO

Raw Video: Obama Arrives at White House
President-elect Barack Obama and his wife, Michelle, have arrived at the White House for a visit, his first since last week's landslide election victory.
» LAUNCH VIDEO PLAYER

By Dan Eggen and Michael D. Shear
Washington Post Staff Writers
Monday, November 10, 2008; 5:32 PM
President Bush rolled out the red carpet today for his successor, meeting with President-elect Barack Obama in the Oval Office for a talk so private that no one else was in the room.


etc.
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Henry



Joined: 03 Apr 2001
Posts: 2878
Location: NYC

PostPosted: Tue Nov 11, 2008 12:00 pm    Post subject: Reply with quote

(it's about cars...really)



http://www.nytimes.com/2008/11/11/us/politics/11auto.html?th&emc=th


From the NY Times
By JACKIE CALMES
Published: November 10, 2008
WASHINGTON — The struggling auto industry was thrust into the middle of a political standoff between the White House and Democrats on Monday as President-elect Barack Obama urged President Bush in a meeting at the White House to support immediate emergency aid.

Mr. Bush indicated at the meeting that he might support some aid and a broader economic stimulus package if Mr. Obama and Congressional Democrats dropped their opposition to a free-trade agreement with Colombia, a measure for which Mr. Bush has long fought, people familiar with the discussion said.

etc.




Here: This part is for those non zillionaire voters who went with the snowflakes...


" Mr. Obama and Congressional Democrats dropped their opposition to a free-trade agreement with Colombia, a measure for which Mr. Bush has long fought"


Let me put this into plain English for you brainiacs to process:


A "free trade" agreement with Columbia (of all places) means more jobs for Columbia and FEWER JOBS FOR Y-O-U. Because a Columbian will work for less. I think...

And then the whatever that is made in Columbia is exported (that means shipped or flown or sent) to the USA.

AND you can't make the argument that the Columbians will buy what we send to them because I defy you to THINK OF ONE THING we make that one of them can afford. Let alone one thing that we make. (ok, I'll give you that much)

So, in exchange for assistance to WORKING AMERICANS we are using the passage of a "free trade" agreement as LEVERAGE.

Thus, in my opinion, placing the welfare and good of the Columbian people (in my dreams) before the needs...make that acute (that means immediate and urgent) needs of the Americans who voted for...well, that's none of my business.

...do you get it yet or does a zygote* have more importance to you...




* A zygote (from Greek ζυγωτός zugōtos "joined" or "yoked", from ζυγοῦν zugoun "to join" or "to yoke")[1] is a cell that is the result of fertilization. That is, two haploid cells—usually an ovum from a female and a sperm cell from a male—merge into a single diploid cell called the zygote (or zygocyte).
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Henry



Joined: 03 Apr 2001
Posts: 2878
Location: NYC

PostPosted: Tue Nov 11, 2008 9:00 pm    Post subject: Reply with quote

In the interest of fairness this report surfaced later in the day.

(i will restrain myself from comment)



http://www.washingtonpost.com/wp-dyn/content/article/2008/11/11/AR2008111101715.html?hpid=topnews



White House Denies Bush Pushed for Trade Agreement in Meeting With Obama

Washington Post Staff Writer
Tuesday, November 11, 2008; 5:43 PM
NEW YORK, Nov. 11 -- The White House pushed back Tuesday against reports that President Bush has conditioned his support for a new economic stimulus package on congressional backing for stalled free trade agreements.

"The president did not suggest a quid pro quo" during his meeting Monday with President-elect Barack Obama, White House press secretary Dana Perino told reporters traveling with Bush. That contradicted the comments of unidentified officials quoted in newspaper reports Tuesday morning about the meeting in the Oval Office.

etc.
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Henry



Joined: 03 Apr 2001
Posts: 2878
Location: NYC

PostPosted: Wed Nov 12, 2008 7:40 pm    Post subject: Reply with quote

oil...

FROM THE FINANCIAL TIMES...


http://www.ft.com/cms/s/0/bde7a8ba-b0b2-11dd-8915-0000779fd18c.html



IEA warns of new oil supply crunch


By Carola Hoyos, Ed Crooks and Javier Blas
Published: November 12 2008 12:22 | Last updated: November 12 2008 14:50
A lack of investment in new sources of oil risks a supply crunch worse than the problems that pushed prices to $147 a barrel this summer, the developed world’s energy watchdog said on Wednesday.

The International Energy Agency warned that cuts and delays in investment that were prompted by the fall in oil prices and the credit crunch had put the world “on a bad path”.


Fatih Birol, chief economist at the IEA, said: “We hear almost every day about a project being postponed. This is a major problem.


etc.
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Henry



Joined: 03 Apr 2001
Posts: 2878
Location: NYC

PostPosted: Wed Nov 19, 2008 7:59 pm    Post subject: Reply with quote

mission accomplished


http://www.washingtonpost.com/wp-dyn/content/article/2008/11/19/AR2008111901342.html?hpid=topnews

Dow Dips Below 8,000 as U.S. Stock Markets Fall

By Renae Merle
Washington Post Staff Writer
Wednesday, November 19, 2008; 6:07 PM
The Dow Jones industrial average closed below 8,000 today for the first time since 2003 after poor economic news was compounded by the release of minutes from the Federal Reserve's last meeting showing its leaders expect economic conditions to sharply worsen next year.

etc.
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Henry



Joined: 03 Apr 2001
Posts: 2878
Location: NYC

PostPosted: Fri Nov 28, 2008 11:59 pm    Post subject: Reply with quote

I'd like to hear from all defenders of the oil price rise during the past 5 or so years. I'd like you to repeat each and every false reason for acknowledging the price rise. Each and every apologist of this scandal.



http://www.washingtonpost.com/wp-dyn/content/article/2008/11/27/AR2008112701845.html?hpid=sec-business


Oil falls towards $53 ahead of OPEC meeting

By Maryelle Demongeot
Reuters
Friday, November 28, 2008; 1:36 AM
SINGAPORE (Reuters) - Oil fell toward $53 a barrel on Friday, ending the month down more than 20 percent, as OPEC ministers prepared to meet in Cairo to discuss potential further supply cuts as the global economic slowdown eats into oil demand.

The Organization of the Petroleum Exporting Countries, which is to hold an informal meeting on Saturday in Cairo, is struggling to slice output fast enough to keep pace with a recessionary reduction in fuel demand in the West that has sent crude prices down nearly two-thirds since July.

... Oil fundamentals remain weak, with demand in the United States falling in September to its lowest level for any month in more than a decade.

Total U.S. product demand over the past four weeks was down 6.6 percent from year-ago levels, while September oil demand fell by 12.8 percent versus a year ago to its lowest point in 12 years, the U.S. Enery Information Administration said earlier this week.

etc.
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