what its all about, whats its all about Options

[Jack]

what its all about

[Cpt. Snot Rocket]

First, There's much in the advancement in technology to find natural reserves. This technology actually shows that there is much more at known sites than previsiously calculated. Take the Gulf of Mexico. The Natural Gas reserves have been updates 3 times in the last 50 years showing a 600% increase in what was thought to be their in the 50's. A recent study shows that Canada is likely sitting on the 2nd largest oil reserve in the world. It goes on and on. Russia is just now getting the technology and infrastructure to pull huge amounts of oil out of Siberia.

If you are worried that increase in demand inflates prices consider this fact. Iron Ore, Coal, Tungsten, and Copper prices are nearly the same now than the 70's. Of course demand for these products has absolutely skyrocketed. So why has the price remained low? Because when there is demand, people produce. The oil pricing is controled by a illegal agreement among the OPEC nations. Unfortunetly, they control a huge percentage of the current oil flow. This will change when the other oil reserves hit the market.

Of course, who wants to try and understand our global economy and actully sound intelligent when one can just to blame George Bush. After all, it is all his fault that people built a city in LA that was under the water level, and then he did nothing to stop that hurricane from hitting it.

This post has been edited by Cpt. Snot Rocket: 10/29/06 9:53am

[Kleerance]

If you are worried that increase in demand inflates prices consider this fact. Iron Ore, Coal, Tungsten, and Copper prices are nearly the same now than the 70's. Of course demand for these products has absolutely skyrocketed. So why has the price remained low? Because when there is demand, people produce. The oil pricing is controled by a illegal agreement among the OPEC nations. Unfortunetly, they control a huge percentage of the current oil flow. This will change when the other oil reserves hit the market.

You obviously have no belief in the market...If the prices on precious metals don't go up as the demand "has skyrocketed" as you put it - its because the offer side can deliver! Thats because there are no obvious shortage of these commodities.

I agree about the OPEC. They have power to "manipulate" prices to a certain extent because of the Saudi-Arabian big market share. But the fact is that there aren't enough proven oil reserves out there (anywhere) to keep up with the upcoming demand - despite of what you claim Snot Rocket. There has not been any significant new oil fields since the 80's, and the "new technology" stuff is purely guesswork. Every big oil company is now downgrading its reserves (Shell, Exxon, Statoil, BP). USA is not down in Iraq just for the fun of it. Oil is a big issue here.



To Steel: Debating is not tearing people apart. It's a democratic thing and is enlightning people. If the banner says "War on terror" I expect debating - not propaganda. I love a good debate - and I Iove to hear other peoples opinion. You can't expect that every man out there agree with you in every matter. But thats OK for me (and for everybody else I hope). I love a good debate. It makes the world go round....