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Re: SC19

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July 14, 2006 08:29PM
http://www.thestar.com/NASApp/cs/ContentServer?pagename=thestar/Layout/Article_Type1&c=Article&pubid=968163964505&cid=1152876908156&col=968705923364&call_page=TS_Business&call_pageid=968350072197&call_pagepath=Business/News

Traders controlling oil price: U.S. energy secretary

The world's oil suppliers have lost control of the markets, ceding that power to traders and giving rise to greater volatility in crude prices, U.S. Energy Secretary Samuel Bodman said Friday.

With oil hitting record highs of more than $78 US per barrel Friday in the wake of increasing violence in the Middle East, Bodman said crude is now traded like securities "and so emotion enters into it."

"This is the first time in my professional lifetime that the suppliers of oil in the world have really lost control of the markets," Bodman said during a two-day trip to Western Canada where he toured the rapidly developing oilsands region in northern Alberta.

"They are unable to turn the spigot and increase supplies, and therefore are unable to control oil prices."..........

Dire developments with the worldwide supply demand situation will continute to push oil skywards. 100+ oil could be the next " Big Event " away, and that event could be a wide range of things. I read an article that said, above 100 dollars per barrel, general aviation for all of us basic folks, could go under because of the expense of the fuel. The US is getting into a tighter, and tighter hydrocarbon supply position, because of developing world events. Our country is losing once accesible supply on a whole host of fronts. 3 dollars a gallon is hard to take, but when we start hitting 4-5-6 a gallon, the craps really gonna start hitting the fan.
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SC19

Wizard 972July 12, 2006 10:34PM

Re: SC19

Wizard 575July 12, 2006 10:52PM

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Wizard 541July 12, 2006 11:33PM

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Wizard 574July 14, 2006 07:31PM

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Wizard 624July 14, 2006 08:05PM

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Wizard 646July 14, 2006 08:29PM

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Wizard 604July 14, 2006 08:55PM

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Wizard 616July 14, 2006 09:13PM

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Wizard 523July 14, 2006 09:38PM

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Wizard 614July 14, 2006 09:55PM

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Wizard 499July 14, 2006 10:42PM

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Wizard 628July 18, 2006 08:15AM

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Wizard 597July 18, 2006 08:43AM

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Wizard 726July 18, 2006 09:46AM

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Paul P. 557July 18, 2006 01:19PM

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mojavegreen 572July 19, 2006 12:23AM

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jobe 642July 19, 2006 07:46AM

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Rick 605July 19, 2006 04:20PM

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Paul P. 572July 19, 2006 09:00AM

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jobe 572July 19, 2006 01:38PM

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Rick 596July 19, 2006 04:28PM

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jobe 553July 19, 2006 06:17PM

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jobe 553July 19, 2006 06:40PM

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Paul P. 666July 20, 2006 09:14AM

Pandemic?

mojavegreen 489July 23, 2006 11:59AM

Re: SC19

jobe 1059July 23, 2006 08:25PM



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