Oil surges to $143 as global stocks fall further.

[Puddle]

OH SHiT!

"In this kind of a market people are looking for any reason to sell," said Chris Orndorff, managing principal and head of equity strategy at Payden & Rygel. "It's the opposite of a bull market when people take small positives and run with it. Now people are taking small negatives and running for the hills."

"I remain very bearish on stocks, even at current prices," said Christian Jimenez, president of IMENE Investment Partners in Paris. "We're seeing retailers getting punished as consumers' wallets are getting hit by high oil prices. They pay more at the pump and they have less money to spend."

Investors piled into energy, metals and grains markets for a second straight day, fleeing battered stock markets and the plunging U.S. dollar.

Crude for delivery in August rose 57 cents to settle at $140.21 a barrel, a record settlement price in New York, after hitting an intraday record high of $142.99.

Great timing for this. My gas goes up 2.4 cents on July 1st. Oh by the way thats a "Travel Holliday." Not for me I gata work.

Glad I don't drive a :tank: .

http://www.canada.com/theprovince/news/ ... 442302c47d (http://www.canada.com/theprovince/news/story.html?id=51e2ba53-df3d-4ab2-857e-25442302c47d)

[Burris]

There was some moron CBS talking head saying 7 dollar gas prices are good because it'll get cars off the road. :rolleyes:

Some institute in Canada is predicting 7 dollars a gallon... 7.

[Puddle]

There was some moron CBS talking head saying 7 dollar gas prices are good because it'll get cars off the road. :rolleyes:



Yep that's the reasoning behind our current carbon tax. Ok here's a question. If they want more cars off the roead why the hell do they lease a new car every 2 years?
In other words. "Hey I can afford to drive with my job, I get a gas card. So why should I give a shit. Let the poor people go Amish."

[Rob]

Can we peg the value of the dollar to the price of crude oil or something?

[Burris]

That would be very bad.

[Rob]

Behold my utter ignorance of economics.

[Puddle]

The low dollar is driving investors towards oil funds. They are pulling out of Metals even gold. And driving up the selling price of oil futures. I bet Mahmoud Ahmadinejad came in his pants today. "Allright another step closer to Nuking Isreal! WOHOO!"
"KILL ALL ZIONISTS!"
"Someone call me a hooker."

[PrivateParts]

Am i the only one who wishes they could meet puddle while he's out in the middle of the street naked and raving like he does on the boards?

[Puddle]

Parts.. your luky I'm online man.

Do I have to explain investor relations to you?
Or shall I set you up with vandal?

[HS the Whap]

I'm glad I'm going into the porno business. Its about to take off like my erections I'll be having. Up, up, up baby. :D

[Cheeto]

Everyone else is jumping out of the market, and here I am jumping into it.

[Puddle]

Realy Cheeto? What were you thinking of investiong in?

Pork Futures?
Or perhaps corn?
There was a bad harvest and corn could go up.

Well the oil went up again.
Gas is 149.2 now

[Burris]

I wonder if oil companies realize they're just making automotive companies fast track their research out of oil.

[Puddle]

I wonder if oil companies realize they're just making automotive companies fast track their research out of oil.

Well It's kind of a "In hand's with the devil." thing with automobile companies and big oil. They have been feeding each other. We all know the major proffit source for each of them is the manufacture and sales of new cars. However now that oil is costing the automotive companies their production.

A change is needed.

[Penguin]

If that's the case, the oil industry has just stabbed the automotive industry in the back. People don't want cars as much as they did, and nobody wants BIG cars anymore. Even in America GM has lost its stable herd of useful SUV-buying idiots.

[Burris]

BUT GM FORGES AHEAD WITH THE TAHOE HYBRID!

[Puddle]

We all remember the SUV "Gatta have it or got a little dick." Phase some people went through. I know a fella who would lease a new gas guzzler every year.
He just bought a small used 6 cyl truck for work.
Said he can't afford the gas in the other thing.
He's a construction contracter who must drive every day.

[Burris]

I fucking hate SUV drivers, I don't get why they have to ride everyones ass thinking they're bad ass (NO MATTER HOW FAST YOU'RE GOING). Same with Mustang drivers.

[Puddle]

I fucking hate SUV drivers, I don't get why they have to ride everyones ass thinking they're bad ass (NO MATTER HOW FAST YOU'RE GOING). Same with Mustang drivers.

Actually people in this city MUST DRIVE 70k In a 50k zone. If not they are 1/2 inch behind you. I went to the small town and visited my family. Flying around at 70k till I realized. "WAIT I'M in SPEED TIKET COP HEAVEN!" slow down to 50.

I've got a bud with a major lead foot.
I rented a jiant chevy silverado in 2002. gas was 86 cents then. I drove from one end of town to the other. Burnaby to richmond and back. Was about 10 bucks. He drove from my place to his a 10 minute drive.
BAWWWWWWWAAAAAAAA BAAAAAAAAAAAAAWAAAAAAAAAAAAAAAAAAA BAAAAAAAAAAAWAAAAAAAAAAA.
cost 10 bucks.

[Rob]

Actually people in this city MUST DRIVE 70k In a 50k zone.
...that's it? Around here if you're not pushing at least 30+ over the limit, you're a hazard to everyone else on the road.

[Cheeto]

Realy Cheeto? What were you thinking of investiong in?

Pork Futures?
Or perhaps corn?
There was a bad harvest and corn could go up.
Agriculture, gold, bio fuels, tech, and thinking about a short term investment in oil (I figure that it's going to go up some more, then peak, drop a bit, then peak again before it craps and I wanna sell it on a peak) but probably won't.

[Puddle]

Agriculture, gold, bio fuels, tech, .

Ahh my brother said gold is allways a good investment but only if you have $10,000 is it worth it.

a short term investment in oil (I figure that it's going to go up some more, then peak, drop a bit, then peak again before it craps and I wanna sell it on a peak) but probably won't.
See this is what drove alot of the trading up. People wanting that short term gain.

[Cheeto]

Ahh my brother said gold is allways a good investment but only if you have $10,000 is it worth it.

a short term investment in oil (I figure that it's going to go up some more, then peak, drop a bit, then peak again before it craps and I wanna sell it on a peak) but probably won't.
See this is what drove alot of the trading up. People wanting that short term gain.
Yeah, but if I see some nice short term gains on the oil stocks I'll at least have money for gas. :D

[Puddle]

Well Gas is now $152.1 today. Mr cample and his cronies must be raking in the dough. Ahh more martini's private jets and limo's. Thanks to us middle class people.
Tax me some more ass hole.

Oil stocks stabled a bit.

http://www.avafx.com/oil/?tag=GOOG-Oil& ... 0702160920 (http://www.avafx.com/oil/?tag=GOOG-Oil&gclid=COnX_7jLoZQCFQgWiQodjD6B0g&ef_id=1795:3:s_49bedf48e5aa16a6fe3bed5bfcd0e3d2_19 67988473:tyJbOUGvMaAAADycCVEAAAAc:20080702160920)


http://www.oil-price.net/
Current Price

[Puddle]

I wonder if oil companies realize they're just making automotive companies fast track their research out of oil.

MMMMHHHHMMM
http://www.msnbc.msn.com/id/25419177/

“Obviously they were making just too much money off their SUVs and pickups,” said Roland Hwang, vehicle policy director for the Natural Resources Defense Council. “They couldn’t really fully conceive of a world where they would have to rapidly extricate themselves from those markets and those profits.”

Oil
$143.57
?2.60 1.84%

Hmm and the feds are gona tax us another 2 cents. So that would make a 10 cent per liter tax. And at 2012 17cents. So lets see our gas could be $2.50 cents a liter.