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RE: Iran says price of oil would double - 12/5/2011 7:48:07 PM   
Termyn8or


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quote:

I understand that, T. I still dont see how a 3% reduction will cause oil to double.


Taz, you have to realize the this is the WORLD export, not just export to the US. That gives the figure at least treble weight in relation to what you thought. I mean as gluttonous as we are we do not use over a third of all oil EXPORTS in the world. Maybe in a few years, but China is catching up and fast.

What's more it is a matter of transportation. The transportation routes have been figured out and any change makes it less efficient.

Next, what's left of the bailout money will be loaned to speculators who will buy up oil futures with our money and get rich. But this is ll Iran's fault. See how that works ?

I hope this helped.

T^T

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RE: Iran says price of oil would double - 12/6/2011 10:44:48 AM   
popeye1250


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Bullshit. The world is awash in oil!
Look at Brazill, five or ten years ago whoever thought they'd be a major producer?
They recently made a discovery off their coast that is as big as the eastern U.S.
And look at Russia! They don't even know the full extent of their reserves there yet.


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RE: Iran says price of oil would double - 12/6/2011 10:57:02 AM   
Moonhead


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And of course, Brazil and Russia will be both be mad keen to sell their oil surpluses to you lads for a pittance, won't they?

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RE: Iran says price of oil would double - 12/6/2011 11:03:16 AM   
thompsonx


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quote:

ORIGINAL: popeye1250

Bullshit. The world is awash in oil!





Is that why gasoline is only $4.00 a gal.?

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RE: Iran says price of oil would double - 12/6/2011 11:18:55 AM   
popeye1250


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quote:

ORIGINAL: thompsonx


quote:

ORIGINAL: popeye1250

Bullshit. The world is awash in oil!





Is that why gasoline is only $4.00 a gal.?



Thompson, you're off by 25%. Look in gas buddy, it's $2.99 here at Sam's club and Costco and all the other stations have dropped quite a bit in the last few weeks.

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RE: Iran says price of oil would double - 12/6/2011 11:31:48 AM   
mnottertail


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Thats chinese gas.  Insure that you buy gasoline refined from the Mendenhall 12 18X well in the Bakken find in North Dakota.

I thank you, and my children thank you, and my childrens children thank you  (and probably unless they blow it, my childrens childrens childrens (you get the idea) thank you). 

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RE: Iran says price of oil would double - 12/6/2011 11:35:54 AM   
thompsonx


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quote:

ORIGINAL: popeye1250


quote:

ORIGINAL: thompsonx


quote:

ORIGINAL: popeye1250

Bullshit. The world is awash in oil!





Is that why gasoline is only $4.00 a gal.?



Thompson, you're off by 25%. Look in gas buddy, it's $2.99 here at Sam's club and Costco and all the other stations have dropped quite a bit in the last few weeks.



You live in a state with about 6 millilon cars busses trucks and motorcycles.
California has about 45 million.
Perhaps that is why gasoline in los angeles varies from $3.39 to $4.65


http://www.losangelesgasprices.com

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RE: Iran says price of oil would double - 12/6/2011 12:39:26 PM   
Hillwilliam


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quote:

ORIGINAL: thompsonx


quote:

ORIGINAL: popeye1250

Bullshit. The world is awash in oil!





Is that why gasoline is only $4.00 a gal.?


I filled up for 2.97 the other night.


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RE: Iran says price of oil would double - 12/6/2011 12:58:42 PM   
thompsonx


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quote:

ORIGINAL: Hillwilliam


quote:

ORIGINAL: thompsonx


quote:

ORIGINAL: popeye1250

Bullshit. The world is awash in oil!





Is that why gasoline is only $4.00 a gal.?


I filled up for 2.97 the other night.




http://www.losangelesgasprices.com

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RE: Iran says price of oil would double - 12/6/2011 6:07:18 PM   
LookieNoNookie


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quote:

ORIGINAL: popeye1250


quote:

ORIGINAL: thompsonx


quote:

ORIGINAL: popeye1250

Bullshit. The world is awash in oil!





Is that why gasoline is only $4.00 a gal.?



Thompson, you're off by 25%. Look in gas buddy, it's $2.99 here at Sam's club and Costco and all the other stations have dropped quite a bit in the last few weeks.


Popeye, you live a charmed life.  Few are paying 3 bucks.

California is at or over 4, here in Seattle we're at $3.85 and higher.

(And that's at Arco....Sam's is $3.82)

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RE: Iran says price of oil would double - 12/6/2011 6:13:30 PM   
tazzygirl


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pops lives in South Carolina. Tourist season is over there. 2.99 to 3.14...

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RE: Iran says price of oil would double - 12/6/2011 6:20:11 PM   
willbeurdaddy


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quote:

ORIGINAL: LookieNoNookie

quote:

ORIGINAL: popeye1250


quote:

ORIGINAL: thompsonx


quote:

ORIGINAL: popeye1250

Bullshit. The world is awash in oil!





Is that why gasoline is only $4.00 a gal.?



Thompson, you're off by 25%. Look in gas buddy, it's $2.99 here at Sam's club and Costco and all the other stations have dropped quite a bit in the last few weeks.


Popeye, you live a charmed life.  Few are paying 3 bucks.

California is at or over 4, here in Seattle we're at $3.85 and higher.

(And that's at Arco....Sam's is $3.82)



Orange County is around $3.80 and $3.55 at Costco.

Why does anyone give credence to what the idiot in Iran says? If anything them holding back on oil supply would decrease prices because it would spur production and release by other OPEC producers intitially, and the US not far behind.

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RE: Iran says price of oil would double - 12/6/2011 6:25:15 PM   
Owner59


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We give you and the idiot in Iran about the same credence.

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RE: Iran says price of oil would double - 12/6/2011 8:21:52 PM   
tweakabelle


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This is the first paragraph of a piece in Salon magazine by Glenn Greenwald (who is he? I've never heard of him)

"The U.S. has long had Iran virtually encircled as a result of the American occupation of Afghanistan on Iran’s Eastern border, its invasion of Iraq on its Western border, its NATO ally Turkey hovering on Iran’s Northwestern border, some degree of military relationship with Turkmenistan on Iran’s Northeastern border, and multiple U.S. client states sitting right across the Persian Gulf (Kuwait, Saudi Arabia, the UAE, and Bahrain, where the massive U.S. Fifth Fleet is stationed). Additionally, some combination of the U.S. and Israel has bombarded Iran with multiple acts of war over the last year, including explosions on Iranian soil, the murder of numerous Iranian nuclear scientists (in which even one of their wives was shot), and sophisticated cyberattacks. Meanwhile, top American political officials from both parties are actively demanding that an Iranian revolutionary cult be removed from the list of Terrorist organizations (just coincidentally, they’re all on the cult’s payroll). In the past decade, the U.S. and/or Israel have invaded, air attacked, and/or occupied Afghanistan, Iraq, Pakistan, Somalia, Yemen, Libya, Lebanon, Sudan, Syria, the West Bank and the Gaza Strip (to say nothing of the creation of a worldwide torture regime, a system of “black site” prisons around the world to which people were disappeared, and a due-process-free detention camp in the middle of the Caribbean Ocean where many people remain encaged for almost a full decade without charges). During this same time period, Iran has not invaded, occupied or air attacked anyone. Iran, to be sure, is domestically oppressive, but no more so — and in many cases less — than the multiple regimes funded, armed and otherwise propped up by the U.S. during this period. Those are all just facts.
But — despite all of these facts — all Serious people in the U.S. know that Iran is the Aggressor, the Modern Nazis, a True Menace, while the U.S. and Israel are its innocent peace-loving victims.
"

The rest of the article can be viewed here.

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RE: Iran says price of oil would double - 12/6/2011 10:24:02 PM   
tazzygirl


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There isnt a single one that is innocent, including the US.

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Telling me to take Midol wont help your butthurt.
RIP, my demon-child 5-16-11
Duchess of Dissent 1
Dont judge me because I sin differently than you.
If you want it sugar coated, dont ask me what i think! It would violate TOS.

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Profile   Post #: 75
RE: Iran says price of oil would double - 12/7/2011 12:28:11 AM   
tweakabelle


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quote:

ORIGINAL: tazzygirl

There isnt a single one that is innocent, including the US.

Yeppers. To my own shame, my country Australia has tagged along for quite a few of those adventures.

Much more to the point, how do you think a list of facts like that is interpreted in the Muslim/Arab world? Afghanistan, Iraq, Pakistan, Somalia, Yemen, Libya, Lebanon, Sudan, Syria, the West Bank and the Gaza Strip are all Muslim/Arab areas. Is this a gift from the gods for fundamentalist terrorist recruiters who paint to the West as Satanic, the source of all ills in the Muslim world?

Would people like to try to imagine how a Muslim or Arab mind might read that paragraph of facts?

< Message edited by tweakabelle -- 12/7/2011 12:30:15 AM >


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RE: Iran says price of oil would double - 12/7/2011 4:07:53 AM   
FrostedFlake


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About half of the Iranian Governments revenue comes from oil exports. Stop the exports, stop the revenue. If you think Iran is the bad guy, then you say, YAY! But, World oil production is at 88.5 mb/d and demand is higher. Take supply down 2.2 mb/d by cutting Irans throat, temporarily, and the shortfall grows to over 3 mb/d. About 4% of demand outside of Iran. the price of oil will climb sharply. Perhaps not to $250, but possibly. However high oil goes, that is the degree to which the U.S. economy will be slowed. So, If you think the U.S. is the good guy, then you should be against blockading Iran.

Whose idea is this, really? Follow the money. Who has oil futures options?

International Energy Agency Oil Market Report
http://omrpublic.iea.org/
U.S. Energy Information Administration Re: Iran
http://www.eia.gov/countries/cab.cfm?fips=IR
Wall Street Journal Market Data Center Oil Futures Options
http://online.wsj.com/mdc/public/page/2_3024-futopt_oil.html

Reading options. Scroll to the line marked 10000. That means $100/bbl. Note column #1 labeled Jan. reads 2.86. This means that for $2,860, plus commission, you can buy a contract to own the right but not the obligation to buy 1000bbl Oil in January 2012. As late as the expiration date, the contract is worth $10 for each penny the price of oil exceeds $100. Break even is at a price of $128.60/bbl excluding commission in and out. At a price of $150 the contract would be worth $21,400 minus commission. the return would be near 750% because 7.5 x $2860 = $21450

Scroll to the 13200 line. That is the $132/bbl contract. The January column reads .01. A 1000bbl option contract for January can be had for $10 plus commission. It would break even at $132.10 excluding commission in and out. At a price of $150 the contract would be worth $17,900 minus commission. The return would be 179000% because 1790 x $10 = $17900.

Driving the price of oil up sharply, briefly, can be worth a lot of money if you are ready for it. I can't think offhand of anyone other than oil speculators that would benefit.

No. That isn't paranoia. It is merely math.


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