July 30, 2006

HP declares the week of August 1, 2006 "Oil Week"

Everything in the news this week will revolve around oil in some way or another.

Oil will begin to have a greater impact on your personal life (it's sure hot out there, no?).

"Housing Bubble" and "Oil" will be mentioned in the same breath.

Your government will seemingly be controlled by Big Oil.

Oil. It's all about Oil. Embrace it. Understand it. Deal with it. And buy some ConocoPhillips stock already.

26 comments:

gibson loves jews said...

aw, i was hoping for Mel Gibson week.

Why is it that right wing fundamentalists are always the ones with something to hide? read what this christian whack job actually said about jews. amazing

from

http://www.tmz.com/2006/07/28/gibsons-anti-semitic-tirade-alleged-cover-up/

Gibson released the following statement:

"After drinking alcohol on Thursday night, I did a number of things that were very wrong and for which I am ashamed. I drove a car when I should not have, and was stopped by the LA County Sheriffs. The arresting officer was just doing his job and I feel fortunate that I was apprehended before I caused injury to any other person. I acted like a person completely out of control when I was arrested, and said things that I do not believe to be true and which are despicable. I am deeply ashamed of everything I said. Also, I take this opportunity to apologize to the deputies involved for my belligerent behavior. They have always been there for me in my community and indeed probably saved me from myself. I disgraced myself and my family with my behavior and for that I am truly sorry. I have battled with the disease of alcoholism for all of my adult life and profoundly regret my horrific relapse. I apologize for any behavior unbecoming of me in my inebriated state and have already taken necessary steps to ensure my return to health."

gibson loves jews said...

The report says Gibson then launched into a barrage of anti-Semitic statements: "F*****g Jews... The Jews are responsible for all the wars in the world." Gibson then asked the deputy, "Are you a Jew?"

The deputy became alarmed as Gibson's tirade escalated, and called ahead for a sergeant to meet them when they arrived at the station. When they arrived, a sergeant began videotaping Gibson, who noticed the camera and then said, "What the f*** do you think you're doing?"

A law enforcement source says Gibson then noticed another female sergeant and yelled, "What do you think you're looking at, sugar tits?"

Anonymous said...

oil week is good, but mel gibson week would've been funnier

I have a hunch it might be a total surprise week - like "cheney dies of heart attack" week, or "hezbollah hits israel with chemical weapons" week

Anonymous said...

I would have liked it better if Gibson released a statement stating that he invested all his 'Passion..' money in SoCal condos and is now offering help with closing costs.

Anonymous said...

I predict the price of oil will be going back down soon...

john_law_the_II said...

let's discuss how peak oil is upon us.

Anonymous said...

>>> And buy some ConocoPhillips stock already.

Best sense I heard in a longtime. Everyone whining about oil company profits, when they should buy their stocks.

Anonymous said...

Oil is just the front man for inflation. The Feds cant pay their bills with oil, but they will pay their bills with bogus money as they inflate their way out of this mess. Expect gas at $4 by Christmas, and maybe $6 by the end of '07.

Anonymous said...

Look's like Max was really Mad. Can't say
I don't share his sentiments about Israel though. The state should be dissolved.

mr. smith said...

How about this....

Ratio of oil consumed to oil discovered=

Six to One

World oil consumption vs world oil discovered-

30 billion bbls consumed to 6 billion bbs discovered

Current oilfield depletion per year(Schlumberger)=

8 percent

Anonymous said...

"Everything in the news this week will revolve around oil in some way or another"

oil
mad max
mel gibson

yup, you're right!

borkafatty said...

cheney dies of heart attack

this would not be a surprise..but more of a call for a celebration.

Anonymous said...

Oil/energy prices will go into the crapper before too long, whether you believe in peak oil or not.

When Keith's housing panic gets rolling in earnest (a handful of people have only begun to realize that their piggy bank is empty), there's going to be a death spiral of layoffs, unemployment, and recession.

There will be huge demand destruction for energy in the US, and if you think China and India's energy needs will continue to rise when their biggest export market fails, please think again. It wouldn't be surprising to see oil at $20/bbl in another year, whether you believe in peak oil or not.

Don't forget the demand side of the equation during an ugly global recession

Anonymous said...

Right now OPEC is producing all out. IF prices fall to $50 or so, they'd cut back a few million barrels and prices would stop there.

Before they had so much excess production that quotas were hard to enforce.

Anyway, a recession would cut oil consumption SOME, but not by 10-20%. Meanwhile the large fields are continuing to decline. Cantarell in Mexico is declining fast.

COP has alot of refineries, and refinery margins would contract though.

The only thing that would really doom oil prices is a bird flu outbreak that killed a few hundred million and caused everyone else to stay home.

Mark in San Diego said...

Be careful what we ask for. . .if RE collapses 20% (which is what it did in California in the early 1990's) then gas consumption in the US (that is to say most consumption in the world) will go down. . .the price of oil will also start going down on less demand. . .Unemployment was 10% in Calif during the early 1990's, and freeways for a change were not crowded. . .I imagine Phoenix freeways are starting to look a little empty??

Anonymous said...

"Right now OPEC is producing all out. IF prices fall to $50 or so, they'd cut back a few million barrels and prices would stop there.

Before they had so much excess production that quotas were hard to enforce."

Yes, but... I'm talking about huge demand destruction due to a tanking economy, not production. There is a balance between the two.

Even though Saudi Arabia has had a semi-effective cartel to control oil production since the 1970's, we've still had periods when crude dropped, such as during the late 1980s.

Oil-rich countries (there is more than just one, and they all have different motives) still need income, and when prices drop, they tend to overproduce (relative to the market demand) to attempt to compensate for the lost revenue.

Just like housing, oil prices are not at a "permanently high plateau". Oil has gone up spectacularly. It can and has gone down spectacularly as well.

I know, I know: "It's different this time."
*shrugs shoulders*

Anonymous said...

Mel Gibson just hates the jews he see.
He worships an invisible Jew.

Anonymous said...

It is different this time as there isn't much spare capacity. IT's alot easier to keep prices high when there's no capacity to spare.

When prices are $30 and OPEC is producing 60-75% of capacity, they cheat to get more money and it crashes the price. That's the 1980s.

When you are producing 100% of capcity, even if demand falls 5% OPEC would still be at 85%+ capacity. Then as the fields kept declining, even that number would inch upward.

Anonymous said...

Iran forces urged to prepare to hit Israel

http://news.yahoo.com/s/nm/20060730/wl_nm/mideast_iran_revenge_dc

Anonymous said...

SOMEBODY switched my Water to Wine Judge Honest....Are you Jewish ?????

Anonymous said...

Hey, can I be Jewish if I change my name to Goldmember?

Anonymous said...

Hey Kleipfh,
Did you ever see Gibson at those AA meetings you had to go to???

Anonymous said...

Wait a second, I thought Gibson had PASSION for Jews. Was it just for the money Mel?

spinning_head said...

When people get really drunk they say what they really think. Nice little trip into your set of real beliefs Mel!

Anonymous said...

"The report says Gibson then launched into a barrage of anti-Semitic statements: "F*****g Jews... The Jews are responsible for all the wars in the world." Gibson then asked the deputy, "Are you a Jew?""

We all make mistakes, say and do things we shouldn't and do not mean when level headed. Forgiveness is a virtue.

boomer/bubblesitter said...

SUV sales down from between 37% and 50% today for July ytd.
CNN today