UH OH!! OIL @ $35.00 barrel in sight! Summer gas shortages as well!

greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread

According to the VP of FIMAT USA interviewed on Fox , oil prices may well reach $35 a barrel before they fall back to around $28 bbl , but not in time to offset the gas shortages this summer, that current indicators reveal as imminent FIMAT is one of the world's largest global brokers and a wholly owned and independently managed subsidiary of Sociiti Ginirale. It is a member of 33...

Link FIMAT

Research

[Fair use; FERPO] Normally, we believe that markets controlled by fundamentals, like this one, are the strongest. Shortage or surplus, prices are a reflection of the basic principle of economics, supply and demand. This particular shortage however, is being manipulated by a coalition of sovereign states with wide cultural differences and political goals. A very fragile union, which could lead to disagreement and fall apart very quickly. OPEC and its allies, have demonstrated terrific discipline since last April, contrary to expectations. External political pressure is starting to be exerted, specifically from the US, to loosen production restraints. The response to this is mixed, the more hawkish states favor continuation of production cuts. The architects of the original cuts want to begin to loosen. Fear is building that even if production is ramped up tomorrow, we still won't be able to avoid a gas crisis this summer. Saudi Arabia in particular knows that tipping the West over into recession will be bad for them. Mexico, Venezuela and Norway, all of who have more diverse economies know that if the US sneezes the rest of the world will catch cold. What we are seeing then is the end of the current agreement. How exactly that will shake out is what the markets will be waiting to see. While the markets look firm again this morning, there are some bearish divergences. Relative strength is very high and resistance on the charts comes in soon at 3036 for March crude. There is also a bullish expectation for tonight's inventory reports ,as well. ---end snip Apparently, Fimat believes Mexico will likely increase production (as a non financial-terrorist nation/ally?)

Related

while nations such as Kuwait (huh?) and Saudi Arabia, will continue to push for limitations, and bathe in American dollars. The queer thing to me about all this is, Greenspan will no doubt use these inflationary prices to justify increasing interest rates again, and punish the American worker further, for things that are out of his/her control. I call BULLSHIT!! Excuse me, but I've been through this same crap in the '70s. Increased prices, increased inflation, increased interest rates, increased unemployment,decreased wages, decreased productivity, decreased inventories, increased prices......snap! Increased bankrupcies,increased enrollment in the Armed services, increased enrollment in temporary service rolls, increased bankrupcies, increased unemployment, increased profits for a few, decrease in living standards for the rest. Well, it was nice while it lasted [I guess].

-- Michael (mikeymac@uswest.net), February 15, 2000

Answers

Michael,

Uh Oh, you must not have been paying attention! I recall late last year that Lady Logic assured us that her dad and uncle said there would be no problem with oil this year. So, this must all be hype!

-- No Polly (nopolly@hotmail.com), February 15, 2000.


Michael, (I know this is off point but...)in your post it states:

"This particular shortage however, is being manipulated by a coalition of sovereign states with wide cultural differences and political goals. A very fragile union, which could lead to disagreement and fall apart very quickly. OPEC and its allies, have demonstrated terrific discipline since last April, contrary to expectations. External political pressure is starting to be exerted, specifically from the US, to loosen production restraints. The response to this is mixed, the more hawkish states favor continuation of production cuts."

Since when are sovereign nations referred to as "states". Twice in this short paragraph "states" is used over nations or OPEC members. Are we all now states of the NWO. Who is saying this?

sdb

-- S. David Bays (SDBAYS@prodigy.net), February 15, 2000.


From Merriam Webster's:

Date: 13th century

. . . 5 a : a politically organized body of people usually occupying a definite territory; especially : one that is sovereign b : the political organization of such a body of people c : a government or politically organized society having a particular character

6 : the operations or concerns of the government of a country

7 a : one of the constituent units of a nation having a federal government b plural, capitalized : The United States of America

8 : the territory of a state

end of cut and paste.

What the UK calls the Foreign and Commonwealth Office is called the State Department in this country. A "state dinner" refers to a formal dinner for a head of state (country). "Matters of state" refers to a country's political issues.

According to MW, above, the term "state" as a noun referring to a sovereign country has been in use since the 1200s.

-- Old Git (
anon@spamproblems.com), February 16, 2000.


Hi Old Git: Right. Even though I did just climb out from under the rock I am well aware of all the nuances and definitions of "state". My comment was directed at the particular choice which is rarely used in this country. Like why do our politicians refer to America as a "democracy" when it isn't. Why do they refer to the "Democrat Party" as the "Democratic Party". My point is: Words don't just happen. They are carefully chosen in view of a grand design. Over a period of time, refering to the nations of the world as "member states" changes the meaning in the mind of the hearer/reader or the now typical high school graduate who has no concept of history or who thinks "from each according to his ability to each according to his need" comes from the U.S. Constitution.

Admittedly, this is off topic, but, like most on this forum, I watch words, who uses them, how and why. Like the meaning of "is". What's the agenda here?

FWIW ...sdb

-- S. David Bays (SDBAYS@prodigy.net), February 16, 2000.


All "nrealated to y2k" of course... LOL!

-- Crono (Crono@timesend.com), February 17, 2000.


Moderation questions? read the FAQ