winojohn

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    • Thu Jun 12th 23:39 PM
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      Oil Swings Go Beyond Fundamentals
      "We're not running out of hydrocarbons,” insists Tony Hayward, the boss of BP, one of the world’s biggest oil firms. There are 1.238 TRILLION barrels of known reserves worldwide. There is crude stored in tankers that are parked in the Persian Gulf and other places. The only place I have found a "shortage" of crude oil (and I've looked!) is at the output end of Shell's Nigerian pipeline. Have you had any trouble buying petroleum products?? NO! Nobody is running out! The price of oil has come unhinged from the supply/demand reality. The "greater fool" theory is at work. Classic Bubble.
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    • Thu Jun 12th 23:32 PM
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      Oil Swings Go Beyond Fundamentals
      "We're not running out of hydrocarbons,” insists Tony Hayward, the boss of BP, one of the world’s biggest oil firms. There are 1.238 TRILLION barrels of known reserves!! There is crude stored in tankers sitting in the persian gulf and elsewhere. The only hint of a shortage of crude I have seen anywhere is at the output end of Shell's Nigerian pipeline!!! Have you had any trouble buying oil, gas, heating oil, any sort of petroleum product??? Nobody is running out!!! The price of oil has come unhinged from the supply/demand reality!!! There are now folks investing in oil futures because they "know" crude prices will rise, and there will always be "somebody" willing to pay more than I did. Another fool. Classic bubble.
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