Laying here w/ the flu I'm watching more CNN. They talked w/ ExxonMobil CEO yesterday and he talked of amazing profits...Billions of dollars of cash on the books!! Same with the major Saudi drilling company...So much profit that they are beginning to pay off their high debts and there is a current influx of "luxuries" US restaurant chains, and similar are now setting up shop in Saudi due to the huge amounts of money received from oil in the past two years. so much so that it is trickling down into the consumers hands.!!... Another curious bit was the EXMBL exec saying the supply is just fine for the demand and the price of oil is not reflectant of a shortage..He feels the demand is being met just fine and the high price of crude is linked to other things although it is spun to the public as a supply issue....Some are talking $80 a barrel, some are saying energy is just another tech bubble. Appartely refiners are preparing for sour crude which there is plenty of but a bit less desirable for gas, but can be used.....After hearing what all of these experts say, record profits in the 10 of billions, debt payoff ect...it seems like the all the BS we have been fed about higher costs, this, that and the other were all BS and it was simply a price hike for profit. Another note was some issues in Venz, which may cause us some seroius grief with oil imports.. And I missed the part about Bush....Was he agreeing to research ALaska or was it no way?? Don't know if I'm more irritated about flat being lied to or by being considered so stupid that I would believe any of it in the first place.... The DJ is even directly related to oil now. it's like a seesaw between them.... Some analysts go as far as to say hedge fundsare manipulating oil prices.. Just a fad?
That fruitcake Chavez is clearly moving toward decreasing US supply to drive prices up. He has even been saying the US Govt. wants to assasinate him and he is supposedly cozying up with the Chinese and Indians more driving speculation that he wants Venezuela to export less to the US and more to Asia. Perhaps having a CIA spook whack that guy isnt such a bad idea. Terry
More trends.... The yuppie trend, the SUV trend, the big house/starter castle trend, the South Beach diet trend, the import from China trend, and now the oil trend... Just get something going and people will follow....Now the big anti-American trend....YAWN
