Posted by guest , Oct 27, 2008 12:12PM

T Boone says ShamWOW headed for $200.

Posted by guest , Oct 27, 2008 12:13PM

I believe we have all earned free oil

Posted by guest , Oct 27, 2008 12:14PM

GOLDMAN, sux it was these fuckers who told the whole world that crude would be 150 bux by years end. REXCKLESS, I think so.

Posted by guest , Oct 27, 2008 12:16PM

I can't wait for the Sarah Palin Geopolitical Business hour on FOX *swoosh* coming in January **swoosh**swoosh** Drill it

Posted by guest , Oct 27, 2008 12:19PM

#4 - with Abby Jo's Bull Market call as the greatest counter-indicator of all time how can anyone be surprised by their outrageous predictions not coming true.

Posted by guest , Oct 27, 2008 12:27PM

20$ would be so awesome...

Posted by guest , Oct 27, 2008 12:28PM

get the gas cans ready

i'll be stocking up

UAE countries will be headed for bankruptcy, should have learned to diversify

Posted by guest , Oct 27, 2008 12:37PM

prgy's words of wisdom... right up there with dr phil and pipo the clown...

Posted by guest , Oct 27, 2008 12:41PM

Whats the play here? Short this shit?

Posted by guest , Oct 27, 2008 12:43PM

I would like to extend prgy's comment a bit further. No one has EVER proven that they can reliably predict market prices--in energy, stocks, bonds, interest rates, currencies, real estate, metals, or any other asset class. Getting angry because someone's prediction didn't go as planned is ridiculously foolish. Feel free to get angry at yourself, however, for listening to another man's predictions.

Posted by guest , Oct 27, 2008 12:58PM

@13
.. on mental midgets? like yourself?
prgy you are an epic fail

Posted by guest , Oct 27, 2008 12:59PM

I can predict the future.

Not really, I have a time machine, I go into the future then come back so it's not really a prediction.

Want to know what '09 looks like?

(free one: Phillies are going to win it.)

Posted by guest , Oct 27, 2008 1:01PM

@ 13 - I would say that 12 sounds much smarter than you are. His point was much more developed than your little whimper. You know it, so no point trying to come up with an embarrassingly lame retort.

Posted by guest , Oct 27, 2008 1:17PM

at 16 how about shut the fuck up!!

Posted by guest , Oct 27, 2008 1:22PM

@18

yeah right see 14

you are an epic fail of backoffice proportions

Posted by guest , Oct 27, 2008 2:14PM

Stop hating on back office drones. They make your world go round, you elitist assholes.

Posted by guest , Oct 27, 2008 2:28PM

are you happy now prgy you made the backoffice drone cry...

Posted by guest , Oct 27, 2008 2:39PM

i'm sorry, but every time i see someone use 'epic fail' or call other people 'back-office' i just assume they are some pimple-y nerd finishing up his bachelors in marketing trying to blend in.

Posted by guest , Oct 27, 2008 2:45PM

You can tell someone knows absolutely nothing about oil (or even commodities) when they treat it like any other stock.

There is a consistent demand for it and companies control supply. You really think the Middle East isn't going to shut off valves if it touches 40? Oil will be back at $100+ in less than two years, 3 tops.

Posted by guest , Oct 27, 2008 2:50PM

25 here again. If speculators were the reason it flew so high, wouldn't they be the reason its dropping so low right now? If not for short positions then for the liquidation of longs?

I personally think its a pretty solid buy now, let alone 55 or if it momentarily got pushed to 45 (doubt it though).

Posted by guest , Oct 27, 2008 3:04PM

@24

You are right about the medium term oil picture: there isn't enough of it when people think forward 20 years.

However, short term, Hugo, Putin, Ahmadinejad and the rest of the middle east crew are going to be sucking it out and selling as quickly as possible with budgets predicated on $80-100 oil. Prices will plummet as sellers seek buyers in the short-term.

Two years is pushing it. But if earnings probably bottom in Q3 or Q4 next year I could see it happening. Problem is, what is going to pull those earnings up again now that American (and to a lesser extent European) consumer is dead for three or four years?

Posted by guest , Oct 27, 2008 3:52PM

@26, agreed on everything you said except I think the oil producing countries are going to stand for super cheap oil for only so long. They've already made a cut in production and I'm sure have a plan laid out for the next one.

What's going to happen when all the emerging markets (China, India) come back stronger than they left off? This will take a while to manifest, but I think we have a number of similar oil surges in our medium and long term future.

I think the country got so hung up with how expensive oil got that they never realized how cheap it might have been to begin with. I mean, after all, isn't the price of something defined as what someone is willing to pay for it? Demand was there well into the 100s.

Posted by guest , Oct 27, 2008 4:19PM

Hey 24-

Why didn't "the middle east" think to "shut off the valves" from 1986-2003 when the real price of oil (inflation adjusted) was below $40?

There is no company, nation, or cartel (sorry, OPEC) that has the power to dictate commodity prices for any long-term amount of time.

Oil is prohibitively costly to store, so as soon as you pump it, you sell it. And since you've already set up the infrastructure to pump it, its better to pump and sell than not sell at all.

I'm not necessarily saying oil's dead, but it's incorrect to think that some human force is definitely going to send oil higher.

Posted by guest , Oct 27, 2008 5:06PM

@28 -26. Right and brilliant: "incorrect to think that some human force is definitely going to send oil higher"

Deflation sucks for everything, no matter how good your profit margin is.

Posted by guest , Oct 27, 2008 5:21PM

so you're saying the force that sent it to 150 several months ago was non-human?

I'm not saying oil producers are going to shoot it back right back up to 150, but limiting supply is something that has effectively been done before, and given the current crisis that's going to hit them too, they would assumingly be more proactive about it.

Posted by guest , Oct 27, 2008 5:31PM

They need money. If they don't get cash, they will be dethroned.

Posted by guest , Oct 28, 2008 1:41AM

you're all forgetting that the oil producing countries have their own cost pressures in running their countries therefore they can't just stop pumping to drive prices up.

its not about volume or $/bbl, its about gross $ value of oil they can receive.

also, with their individual budget pressures in running their countries, you don't think the OPEC members will all 'cheat' in the 5% cut allocation? they have previously and they will continue in the future.

Posted by guest , Oct 28, 2008 9:21AM

Where's that ditz with her "Drill baby drill" chants now?