Comments on: Wither Supply and Demand, In Favor of the Oil Trading Cabal? http://www.coyoteblog.com/coyote_blog/2007/06/wither_supply_a.html Dispatches from a Small Business Sun, 12 Feb 2012 09:39:47 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: ravingmadman http://www.coyoteblog.com/coyote_blog/2007/06/wither_supply_a.html/comment-page-1#comment-5851 ravingmadman Tue, 27 May 2008 23:09:05 +0000 http://coyote-blog.com/wordpress/2007/06/wither_supply_a.html#comment-5851 <p>hmm. very well argued. my father in port angeles, wa and i were discussing such things, and ron paul, etc, not that i intend to go there here, but he had an interesting conversation about this. in port angeles, the oil tankers come in from alasaka, and refuel, before heading overseas to the refineries. of course, i said to him, "why don't we just refine the goo here, like say, bellingham?" he explained to me, that the oil that comes from alaska, is too sulpheric to process and refine here in america due to the enviro-nazis, so we have to send it elsewhere to be refined. so the tankers, full of american crude, fill their engines with venezuelan oil, to get over to the pacific rim to refine it, and bring it back. alaskan oil can't be refined in america. i find this nauseating, and insulting. thoughts? hit me on myspace- http://myspace.com/diamondbreaker</p> <p>thx, kjell</p> hmm. very well argued. my father in port angeles, wa and i were discussing such things, and ron paul, etc, not that i intend to go there here, but he had an interesting conversation about this. in port angeles, the oil tankers come in from alasaka, and refuel, before heading overseas to the refineries. of course, i said to him, “why don’t we just refine the goo here, like say, bellingham?” he explained to me, that the oil that comes from alaska, is too sulpheric to process and refine here in america due to the enviro-nazis, so we have to send it elsewhere to be refined. so the tankers, full of american crude, fill their engines with venezuelan oil, to get over to the pacific rim to refine it, and bring it back. alaskan oil can’t be refined in america. i find this nauseating, and insulting. thoughts? hit me on myspace- http://myspace.com/diamondbreaker

thx, kjell

]]> By: Yehuda Draiman, Energy Analyst http://www.coyoteblog.com/coyote_blog/2007/06/wither_supply_a.html/comment-page-1#comment-5850 Yehuda Draiman, Energy Analyst Wed, 23 Jan 2008 13:39:16 +0000 http://coyote-blog.com/wordpress/2007/06/wither_supply_a.html#comment-5850 <p>Soaring oil prices and housing have helped to derail the economy <br /> Surge in crude has had an impact – less disposable funds for other goods</p> <p>The silent killer of our economy</p> <p>Many Americans are changing their spending habits. Cost of energy and other necessities have gone through the roof, leaving very little disposable funds for other goods.</p> <p>The sub-prime mass and the lack of mortgage funds for housing are increasing our economic nosedive. The Feds can lower interest rate, if the financial institutions are not providing financing and or asking for a large down payment and a perfect credit score, the economy is not going no-where.</p> <p>When the housing market is down, there is a snowball affect on other industries, appliances, furniture, carpeting, etc.</p> <p>Economists will tell you that; when income is not keeping up with increases in the cost of housing there bound to be fallout. </p> <p>Our automobile industry has gone to overseas companies, jobs lost forever. We must wake up and take some dramatic initiative to change this economic course.</p> <p>Jobs in the United States are continuing to go overseas, our export has diminished substantially over the past 25 years and our imports have increased substantially in the same period.</p> <p>We have resources, we have technology and manpower, why are we not utilizing them and devise a mechanism to re-instate our economic independence.</p> <p>Put the politics and egos aside, let us all unite in a common cause, consider what is really good for our country without any hidden agenda or political favors. Bring honesty and integrity to our society; re-instate economic boom and fiscal responsibility.</p> <p>We have been behind the eight ball before; we can muster whatever it takes to turn around our economic downturn.</p> <p>Politicians are spending millions campaigning; those funds can be utilized for better purpose. Do not give me promises and tongue twisting, empty promises are easy “show me” that is the motto.</p> <p>Yehuda Draiman<br /> </p> Soaring oil prices and housing have helped to derail the economy
Surge in crude has had an impact – less disposable funds for other goods

The silent killer of our economy

Many Americans are changing their spending habits. Cost of energy and other necessities have gone through the roof, leaving very little disposable funds for other goods.

The sub-prime mass and the lack of mortgage funds for housing are increasing our economic nosedive. The Feds can lower interest rate, if the financial institutions are not providing financing and or asking for a large down payment and a perfect credit score, the economy is not going no-where.

When the housing market is down, there is a snowball affect on other industries, appliances, furniture, carpeting, etc.

Economists will tell you that; when income is not keeping up with increases in the cost of housing there bound to be fallout.

Our automobile industry has gone to overseas companies, jobs lost forever. We must wake up and take some dramatic initiative to change this economic course.

Jobs in the United States are continuing to go overseas, our export has diminished substantially over the past 25 years and our imports have increased substantially in the same period.

We have resources, we have technology and manpower, why are we not utilizing them and devise a mechanism to re-instate our economic independence.

Put the politics and egos aside, let us all unite in a common cause, consider what is really good for our country without any hidden agenda or political favors. Bring honesty and integrity to our society; re-instate economic boom and fiscal responsibility.

We have been behind the eight ball before; we can muster whatever it takes to turn around our economic downturn.

Politicians are spending millions campaigning; those funds can be utilized for better purpose. Do not give me promises and tongue twisting, empty promises are easy “show me” that is the motto.

Yehuda Draiman

]]> By: Noumenon http://www.coyoteblog.com/coyote_blog/2007/06/wither_supply_a.html/comment-page-1#comment-5849 Noumenon Sun, 24 Jun 2007 08:51:43 +0000 http://coyote-blog.com/wordpress/2007/06/wither_supply_a.html#comment-5849 <p>I believe Brad DeLong thinks that the price of oil is set in Saudi Arabia and not by markets at all. I was surprised to see all those other supposed influences in your friend's list. I never see anyone complain about the traders.</p> I believe Brad DeLong thinks that the price of oil is set in Saudi Arabia and not by markets at all. I was surprised to see all those other supposed influences in your friend’s list. I never see anyone complain about the traders.

]]> By: Arkady http://www.coyoteblog.com/coyote_blog/2007/06/wither_supply_a.html/comment-page-1#comment-5848 Arkady Tue, 19 Jun 2007 06:26:03 +0000 http://coyote-blog.com/wordpress/2007/06/wither_supply_a.html#comment-5848 <p><i>[I]f you really want to take these profits away... you could get yourself a 15 to 20 cent decrease in gas prices</i></p> <p>Not to be too big a smartass, but I know how Congress could cut <a href="http://www.taxadmin.org/FTA/rate/motor_fl.html" rel="nofollow">15 to 20 cents</a> off of gas prices instantaneously. And it has nothing to do with corporate profits. (Check down at the bottom in the row marked "federal".)</p> [I]f you really want to take these profits away… you could get yourself a 15 to 20 cent decrease in gas prices

Not to be too big a smartass, but I know how Congress could cut 15 to 20 cents off of gas prices instantaneously. And it has nothing to do with corporate profits. (Check down at the bottom in the row marked “federal”.)

]]> By: Ian Random http://www.coyoteblog.com/coyote_blog/2007/06/wither_supply_a.html/comment-page-1#comment-5847 Ian Random Sat, 16 Jun 2007 07:53:02 +0000 http://coyote-blog.com/wordpress/2007/06/wither_supply_a.html#comment-5847 <p>I hear a lot in the financial news, that speculators bid-up the price of oil by about $10 to $60 a barrel. Which is consistent with the EIA showing delivered prices at $52 a barrel and the reports that Saudi Arabia is having trouble selling high sulfur oil.</p> I hear a lot in the financial news, that speculators bid-up the price of oil by about $10 to $60 a barrel. Which is consistent with the EIA showing delivered prices at $52 a barrel and the reports that Saudi Arabia is having trouble selling high sulfur oil.

]]> By: Mesa EconoGuy http://www.coyoteblog.com/coyote_blog/2007/06/wither_supply_a.html/comment-page-1#comment-5846 Mesa EconoGuy Sat, 16 Jun 2007 04:59:04 +0000 http://coyote-blog.com/wordpress/2007/06/wither_supply_a.html#comment-5846 <p>Redux: </p> <p>1) We’re not close to any new refinery construction: http://opinionjournal.com/columnists/kstrasselpw/?id=110010213 <br /> 2) This market is unbelievably fragmented thanks to regulation: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=928503 <br /> 3) If you ever mention “windfall profits” (tax) again [Jimmy Carter, wonderful], I will start an online disco-economic hacking society whose sole purpose is to bring back bell-bottoms and Barry Gibb.<br /> </p> Redux:

1) We’re not close to any new refinery construction: http://opinionjournal.com/columnists/kstrasselpw/?id=110010213
2) This market is unbelievably fragmented thanks to regulation: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=928503
3) If you ever mention “windfall profits” (tax) again [Jimmy Carter, wonderful], I will start an online disco-economic hacking society whose sole purpose is to bring back bell-bottoms and Barry Gibb.

]]> By: Mesa EconoGuy http://www.coyoteblog.com/coyote_blog/2007/06/wither_supply_a.html/comment-page-1#comment-5845 Mesa EconoGuy Sat, 16 Jun 2007 01:09:57 +0000 http://coyote-blog.com/wordpress/2007/06/wither_supply_a.html#comment-5845 <p>Perhaps you should find and give your friend the names of these cabal traders; they’re mostly at the NYMEX:</p> <p>http://www.nymex.com/member_firms.aspx </p> <p>They have public registrations, so your friend can ask them how it is they can “do what they do.” You know, Tony Soprano “stuff.” You do dat “thing?”</p> <p>The CFTC is a resource.</p> <p>Then you can ask him, “How much capital would it take to commit to duplicate exactly what you’re insinuating?”</p> <p>Trade Date: 06/15/2007<br /> Total Exchange Volume: 1,209,469</p> <p>NYMEX FLOOR: 302,277<br /> COMEX FLOOR: 26,618<br /> CME GLOBEX: 679,790<br /> NYMEX ClearPort Clearing: 200,784</p> <p>Multiply total exchange volume times average contract size (I have no idea what that is, you find it) times average dollar amount and you get multi-billon (trillion?) dollars in daily trades, which no bank, corporation or other entity can possibly manipulate, much less shoulder themselves. </p> <p>http://www.nymex.com/ewd_fact_sheet.aspx </p> <p>People who think like this either are 1) very paranoid, or 2) completely ignorant about markets, and market (and herd) behavior. </p> <p>They are highly exploitable.<br /> </p> Perhaps you should find and give your friend the names of these cabal traders; they’re mostly at the NYMEX:

http://www.nymex.com/member_firms.aspx

They have public registrations, so your friend can ask them how it is they can “do what they do.” You know, Tony Soprano “stuff.” You do dat “thing?”

The CFTC is a resource.

Then you can ask him, “How much capital would it take to commit to duplicate exactly what you’re insinuating?”

Trade Date: 06/15/2007
Total Exchange Volume: 1,209,469

NYMEX FLOOR: 302,277
COMEX FLOOR: 26,618
CME GLOBEX: 679,790
NYMEX ClearPort Clearing: 200,784

Multiply total exchange volume times average contract size (I have no idea what that is, you find it) times average dollar amount and you get multi-billon (trillion?) dollars in daily trades, which no bank, corporation or other entity can possibly manipulate, much less shoulder themselves.

http://www.nymex.com/ewd_fact_sheet.aspx

People who think like this either are 1) very paranoid, or 2) completely ignorant about markets, and market (and herd) behavior.

They are highly exploitable.

]]> By: Gerry http://www.coyoteblog.com/coyote_blog/2007/06/wither_supply_a.html/comment-page-1#comment-5844 Gerry Fri, 15 Jun 2007 22:48:23 +0000 http://coyote-blog.com/wordpress/2007/06/wither_supply_a.html#comment-5844 <p>Very well written, Mr. Meyer. Thanks for a thoughtful exposition. It's amazing that many people of reasonable intelligence and success respond to simple market economics with not much more than superstition. It makes you wonder if modern man has really progressed much beyond his ancestors and their thoughts of gods cavorting in the heavens and manipulating their tiny world capriciously.</p> Very well written, Mr. Meyer. Thanks for a thoughtful exposition. It’s amazing that many people of reasonable intelligence and success respond to simple market economics with not much more than superstition. It makes you wonder if modern man has really progressed much beyond his ancestors and their thoughts of gods cavorting in the heavens and manipulating their tiny world capriciously.

]]> By: bob http://www.coyoteblog.com/coyote_blog/2007/06/wither_supply_a.html/comment-page-1#comment-5843 bob Fri, 15 Jun 2007 04:53:05 +0000 http://coyote-blog.com/wordpress/2007/06/wither_supply_a.html#comment-5843 <p>or the demand...</p> or the demand…

]]> By: Jim http://www.coyoteblog.com/coyote_blog/2007/06/wither_supply_a.html/comment-page-1#comment-5842 Jim Thu, 14 Jun 2007 21:40:15 +0000 http://coyote-blog.com/wordpress/2007/06/wither_supply_a.html#comment-5842 <p>Go to the ExxonMobil website and find out how many barreals of oil they produce per year.</p> <p>Go to the International Energy Association (IEA) website and find out how many barrels of oil are produced in total world wide. (The IEA is and internatinoal agency, locatd in France, that maintains energy statisitcs)</p> <p>Do the math.</p> <p>You will find that ExxonMobil, THE LARGEST US OIL COMAPNY, produces around 3-4% of the world's oil.</p> <p>If you control less than 5% of the market - HOW DO YOU CONTROL THE PRICE????</p> <p>All of the US oil companies, including the ones that most people think are US but aren't BP (British), Shell (Dutch) are minor players compared to the foreign national oil companies of Venezuela, Mexica, Brazil, Russia, Iran, UAE, etc.</p> <p>It is supply and demand and we do not control the supply.</p> Go to the ExxonMobil website and find out how many barreals of oil they produce per year.

Go to the International Energy Association (IEA) website and find out how many barrels of oil are produced in total world wide. (The IEA is and internatinoal agency, locatd in France, that maintains energy statisitcs)

Do the math.

You will find that ExxonMobil, THE LARGEST US OIL COMAPNY, produces around 3-4% of the world’s oil.

If you control less than 5% of the market – HOW DO YOU CONTROL THE PRICE????

All of the US oil companies, including the ones that most people think are US but aren’t BP (British), Shell (Dutch) are minor players compared to the foreign national oil companies of Venezuela, Mexica, Brazil, Russia, Iran, UAE, etc.

It is supply and demand and we do not control the supply.

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