Comments on: Oil Bulls Unbowed

By: mxq

mxq — Thu, 11 Sep 2008 19:56:00 +0000

Barclays was up there with MS/GS oil bulls.

Barclay's Horsnell just whacked his oil target from ~125 to 95.

Its the last 9 months in reverse.

By: Unscripted Thoughts

Unscripted Thoughts — Wed, 10 Sep 2008 00:04:00 +0000

CIBC said: “It is certainly clear that no matter what policies are taken toward the ANWR, the region will provide no offset to a further decline in both Gulf of Mexico production”.

How in the hell can ANWR’s production offset zero, zip, nada in production? It certainly will provide some amount…sorry but that declaration right there just undermines CIBC’s entire credibility and my confidence in anything they say.

By: mxq

mxq — Tue, 09 Sep 2008 14:36:00 +0000

I'll repeat what a lot of people have said...but the biggest jokers in this whole mess has been congress.

They did absolutely nothing.

Every single proposition that they brought to the floor would have done something (albeit some smaller than others) to eliminate uncertainty or increase confidence in the markets, yet they did absolutely nothing.

Closing the Enron Loophole did nothing but proffer confusion as the CFTC still doesn't have oversight of the affected exchanges("no action" letters were given out like candy the last few years).

Shameful.

By: RK

RK — Tue, 09 Sep 2008 12:08:00 +0000

I have not seen a Goldman or CIBC prediction of the
price of oil in Zimbabwe dollars, but I would be interested if they have an opinion. My reason is that,
when we discuss the price of oil, we do so with the
notion that one side of the equation is fixed, while
the other fluctuates. We presently live in a time
when both sides are in flux, arising from
disturbances both within and outside of a currency regime. While the sheer size of global U.S. dollar reserves, at 62%, may distinguish us fundamentally
from our African counterpart, thus moderating the
swiftness of any adjustment, we should not rely on
predictions of supply and demand as the only
relevant inputs to future price levels.

By: dh

dh — Tue, 09 Sep 2008 06:09:00 +0000

FYI: Saudi Arabia has repeatedly emphasised the need for caution, fearing the implications of another rise in prices for the fragile global economy. Ali Naimi, the Saudi Oil Minister, has talked about a floor of $80 as the trigger for action. Prices remain 14 per cent higher this year than in 2007 and a barrel of benchmark crude fetches four times what it did in 2003.

John Hall, an independent energy analyst, said that the most likely outcome would be for Opec to leave its existing production targets on hold but call for members to adhere more strictly to their individual quotas.

By: Dean

Dean — Tue, 09 Sep 2008 03:51:00 +0000

and Part II on Palin’s inside story:

http://www.youtube.com/watch?v=d-QevraCQUc

By: Dean

Dean — Tue, 09 Sep 2008 03:39:00 +0000

By all means, Fannie and Freddie are much more tangible and oh, so contemporary.

BTW I found some dirt on Sarah Palin:

http://www.youtube.com/watch?v=DPv8b-87-pw