Oil hits $140!!!
06-27-2008, 03:50 AM
#41
The NeverEnding Story
Joined APC: Sep 2005
Posts: 7,514
Originally Posted by DelDah Capt
I will give you credit though, you clearly know that Southwest and other airlines that hedge fuel are not buying their own jet fuel. I am amazed at the number of pilots (including Southwest pilots) who are convinced that somehow the fuel truck that arrives at their plane is actually pumping oil that cost $50 per barrel. The fact is that the majority of entities who buy oil contracts have no intention of ever accepting delivery. They have neither the facilities to store nor refine that oil. They are simply playing the age old game of trying to buy low and sell high. But make no mistake, Southwest is a major speculator in the oil market (even if it's heating oil) and a very good one at that.
The difference is Southwest actually takes delivery of the product they are hedging (or a derivative of it)...unlike Morgan Stanley and Goldman Sachs, which only care about the financial contract for the product, not the West Texas Intermediate itself.
06-27-2008, 04:18 AM
#43
Gets Weekends Off
Joined APC: Oct 2006
Position: Corporate
Posts: 220
Originally Posted by Herkulesdrvr
trash,
The downfall relies on this governments inability to become independent of foreign oil.
The downfall relies on this governments inability to become independent of foreign oil.
Thats right!!! So lets DRILL, DRILL, DRILL OUR OWN FREAKING OIL. The only reason we bought foreign oil in the past was because it was CHEAP, CHEAP, CHEAP. Now its not, so what are we F'ing waiting for!!?
06-27-2008, 05:17 AM
#44
Gets Weekends Off
Joined APC: Oct 2006
Position: Corporate
Posts: 220
06-27-2008, 05:59 AM
#45
Gets Weekends Off
Joined APC: Sep 2005
Posts: 463
Originally Posted by Formerbuspilot
Thats right!!! So lets DRILL, DRILL, DRILL OUR OWN FREAKING OIL. The only reason we bought foreign oil in the past was because it was CHEAP, CHEAP, CHEAP. Now its not, so what are we F'ing waiting for!!?
If we don't start supplying ourselves the middle east is going to take over the world economies when we all fold our tents. It is no coincidence that the largest airline hubs are being built in the mid east. They want it all. Our jobs, our land, our economy, and our freakin lives. They have finally discovered in the last 15 years how to finally defeat the large world economies and it started with the internet and now oil is going to make it happen if we don't wake up.
The most important war of all is currently being staged and we haven't started to plan the first battle.
The internet began their slow end to nomad desert education and knowhow. And now they realize they control the most important thing on earth as the industrial nations are built around it. And they have it pumping aND WE DON'T.
06-27-2008, 06:04 AM
#46
I have shiny jet syndrome
Joined APC: Jan 2008
Position: ELACS, FACs and SECs. Who doesn't love 'em?
Posts: 984
Originally Posted by Formerbuspilot
Thats right!!! So lets DRILL, DRILL, DRILL OUR OWN FREAKING OIL. The only reason we bought foreign oil in the past was because it was CHEAP, CHEAP, CHEAP. Now its not, so what are we F'ing waiting for!!?
Senators Bingaman and Domenici are the two main players in the Energy and Natural Resources Committee that are holding it up.
Call, write, fax, email, or visit them or your Congressmen and Senators and let them know you want it moved out for a vote on the floor.
Like I said before, apathy is going to be the downfall of this country. No one cares and no one thinks they can do anything to change anything, but you can!
After all, it's still your country, not theirs! The Constitution says so!
06-27-2008, 06:07 AM
#47
Gets Weekends Off
Joined APC: Jan 2008
Posts: 210
Read this article. It is BusinessWeek, well researched, and compiles inventory numbers. Then call your Congressman and give em an earful for not providing the market oversight necessary. Government run is bad. Government as referee and making sure the rules aren't broken...that's their job.
High Oil Prices: It's All Speculation
High Oil Prices: It's All Speculation
06-27-2008, 06:17 AM
#48
Gets Weekends Off
Joined APC: Apr 2005
Position: 757/767
Posts: 1,128
Originally Posted by CALPilotToo
I agree. Everyone worries about their kids and grandkids and about the oil drilling environmental issues.
If we don't start supplying ourselves the middle east is going to take over the world economies when we all fold our tents. It is no coincidence that the largest airline hubs are being built in the mid east. They want it all. Our jobs, our land, our economy, and our freakin lives. They have finally discovered in the last 15 years how to finally defeat the large world economies and it started with the internet and now oil is going to make it happen if we don't wake up.
The most important war of all is currently being staged and we haven't started to plan the first battle.
The internet began their slow end to nomad desert education and knowhow. And now they realize they control the most important thing on earth as the industrial nations are built around it. And they have it pumping aND WE DON'T.
If we don't start supplying ourselves the middle east is going to take over the world economies when we all fold our tents. It is no coincidence that the largest airline hubs are being built in the mid east. They want it all. Our jobs, our land, our economy, and our freakin lives. They have finally discovered in the last 15 years how to finally defeat the large world economies and it started with the internet and now oil is going to make it happen if we don't wake up.
The most important war of all is currently being staged and we haven't started to plan the first battle.
The internet began their slow end to nomad desert education and knowhow. And now they realize they control the most important thing on earth as the industrial nations are built around it. And they have it pumping aND WE DON'T.
06-27-2008, 06:50 AM
#49
Gets Weekends Off
Joined APC: Jun 2007
Position: 757/767
Posts: 890
Originally Posted by brownie
Don't forget our little buddy DICK CHANEY's haliburton is also moved to dubai, I wonder why?
I've answered your question now I have a few of my own.
Was there an intelligent point to your comment? Are you suggesting that our real enemy in this struggle is Chaney or Haliburton and not unfriendly states that control the life-blood of our economy/country? Does your comment contradict any thing in the post it was in response to? Do you recognize that we as a country have a serious energy/security problem? What practical and workable solutions do you propose?
See this is our problem. We all share varying percentages of blame on how we got here. Yet some/most refuse to have a real discussion on how to get out.
06-27-2008, 07:13 AM
#50
Line Holder
Joined APC: Apr 2008
Position: Bunk Logging Other Time
Posts: 79
Is it strategically smart to start drilling and using up our own stuff instead of saving it for later? Wouldn't it be better to use up theirs before ours? Just some questions to ponder.
Also, why does everyone think that oil drilled in the US would stay in the US? It would go on the open market to the highest bidder. Unfortunately that ain't us hence all the complaint about prices. Supplying Gulf of Mexico oil to feed the Chinese/Indian appetite will not make our fuel prices go down. It wont even keep up with their growth. Oil will be $200 dollars a barrel before it is $100 no matter how much conservation we do.
The solution to this was known back in 1974 the first time this happened...if you want to be free of the influence of foreign dictators who sit on top of oil then we need a national strategy to develop a renewable source of energy independent of oil. Is there any surprise that it hasn't happened when you have families whose money comes from Oil running the country?
As a right leaning independent, that is not meant as a political statement but simply a statement of reality.
Also, why does everyone think that oil drilled in the US would stay in the US? It would go on the open market to the highest bidder. Unfortunately that ain't us hence all the complaint about prices. Supplying Gulf of Mexico oil to feed the Chinese/Indian appetite will not make our fuel prices go down. It wont even keep up with their growth. Oil will be $200 dollars a barrel before it is $100 no matter how much conservation we do.
The solution to this was known back in 1974 the first time this happened...if you want to be free of the influence of foreign dictators who sit on top of oil then we need a national strategy to develop a renewable source of energy independent of oil. Is there any surprise that it hasn't happened when you have families whose money comes from Oil running the country?
As a right leaning independent, that is not meant as a political statement but simply a statement of reality.
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