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Texas Oil....Rusty..

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  • Texas Oil....Rusty..

    You feeling it out there yet?
    http://news.yahoo.com/s/ap/20090121/...down_texas_oil
    "Lighthouses are more helpful than churches" Franklin

  • #2
    Originally posted by voodoo View Post

    Yeah, we are aware of the problems, and it is slowing down for some. However, oil hit 44 today and is going nowhere but up. I stand by my earlier prediction that we will see it above 50 by March 1st.

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    • #3
      Originally posted by Rustyshakelford View Post
      Yeah, we are aware of the problems, and it is slowing down for some. However, oil hit 44 today and is going nowhere but up. I stand by my earlier prediction that we will see it above 50 by March 1st.
      Our projections for the next 3 weeks is triple that of the entire month of December...and double that of November. I needed some good news yesterday.

      Rusty, I wouldn't be surprised to see $50 earlier than that...mebbe it's wishful thinking.

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      • #4
        For everybodys sake, I hope you are right about $50. But, there is too much talk in the commodities world of it hitting $25 in the next few months. I hope not, 50-60 is ideal.
        "Lighthouses are more helpful than churches" Franklin

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        • #5
          Originally posted by West Texas! View Post
          Our projections for the next 3 weeks is triple that of the entire month of December...and double that of November. I needed some good news yesterday.

          Rusty, I wouldn't be surprised to see $50 earlier than that...mebbe it's wishful thinking.
          I am generally pretty conservative in my estimates. I would like to see $100 by July.

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          • #6
            Originally posted by voodoo View Post
            For everybodys sake, I hope you are right about $50. But, there is too much talk in the commodities world of it hitting $25 in the next few months. I hope not, 50-60 is ideal.
            100 is ideal.

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            • #7
              Originally posted by voodoo View Post
              For everybodys sake, I hope you are right about $50. But, there is too much talk in the commodities world of it hitting $25 in the next few months. I hope not, 50-60 is ideal.
              Probably not gonna happen, oil stockpiles are coming down, the market has adjusted, and will begin to rise as people take economic refuge in commodities versus the stock market.

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              • #8
                If PPl invest in oil there will be a spike in price but only because PPl THINK it is a haven not because there is an increase in demand, a price spike may even lessen the demand. Once the speculators stop investing the price will drop again, possibably to a lower level than previous to the investment spike.
                The road to serfdom is paved with free electric golf carts.

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                • #9
                  Originally posted by kenno View Post
                  If PPl invest in oil there will be a spike in price but only because PPl THINK it is a haven not because there is an increase in demand, a price spike may even lessen the demand. Once the speculators stop investing the price will drop again, possibably to a lower level than previous to the investment spike.

                  Nope. There are so many factors involved in oil demand and price, including, but not limited to:
                  Government regulation
                  Wars
                  Plastics demand
                  Manufacturing
                  Airline travel
                  Supply disruption
                  Taxes
                  Company investments
                  Exploration
                  weather
                  New technologies.

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                  • #10
                    Oil shes a droppin! $50? No chance.
                    "Lighthouses are more helpful than churches" Franklin

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