Oil Prices Pass Inflation-Adjusted Record

[2bighorn]

Looks like there's no end in sight.

http://www.nytimes.com/2008/03/03/business/worldbusiness/03cnd-oil.html
http://www.bloomberg.com/apps/news?pid=20601116&sid=auAqRVeyds.4&refer=africa

With recent Colombia, Ecuador and Venezuela dance, it'll just get uglier.

OPEC won't rise the production either.

Some says we are already in recession, although majority is sticking head in the sand.
http://uk.reuters.com/article/gc06/idUKWEN425620080303

Dollar is continuing to fall.
US manufacturing is contracting at fastest pace in five years.

Construction spending decreased almost two percent in a single month.



So... Which team is going to win Stanley Cup?

[Arlo]

Originally posted by 2bighorn
So... Which team is going to win Stanley Cup?

Does Saudi Arabia have a hockey team? I mean native. They probably own a few.

[2bighorn]

Originally posted by Arlo
Does Saudi Arabia have a hockey team? I mean native. They probably own a few.

I know UAE has one, so I'd say Saudis might have one as well.

[Shuffler]

Housing played a big part so far. All those folks who couldn't see the writing on the wall with A.R.M.s. They should let the lenders die on the vine too. The US is readying itself for the closure of 200 banks.

[2bighorn]

"Dubai Sandstorms Ice Hockey Club has a dedicated core of hockey coaches who coordinate two weekly one-hour practice sessions for players in all four divisions from September through to April. The Club hosts two annual tournaments attracting teams from Al Ain, Abu Dhabi, Oman and Saudi Arabia and organizes an annual ice hockey training camp led by hockey professionals from Canada."

Dubai Sandstorms...

[2bighorn]

Originally posted by Shuffler
The US is readying itself for the closure of 200 banks.

Not that we need them, or?

[Shamus]

Hello stagflation. Last time it happened the s & p lost 50%+ in 18 months, Buffet is saying that equities are overvalued, hang onto your socks:)

shamus

[john9001]

if the US economy collapses, who will OPEC sell it's $100 a barrel oil to?

[AWMac]

Saudi's have the Toronto Maple Leafs I believe.

[Holden McGroin]

Originally posted by john9001
if the US economy collapses, who will OPEC sell it's $100 a barrel oil to?

They are selling a bunch to India and China now, i don't see why they shouldn't continue.

[Brownshirt]

Originally posted by john9001
if the US economy collapses, who will OPEC sell it's $100 a barrel oil to?

You mean 30€ barrels?

[SIG220]

Originally posted by 2bighorn
Not that we need them, or?

What about the people that have money with all of those banks?

Not all accounts are insured.

[rpm]

Where's Ripsnort to tell us oil is cheaper today than it was 30 years ago?

[bj229r]

Does anyone know how much the de-valued dollar is part of it? 10%..20?

[Holden McGroin]

Originally posted by rpm
Where's Ripsnort to tell us oil is cheaper today than it was 30 years ago?

Gold 3/04/78  184.40  Gasoline 0.65

Gold 3/04/08  971.20  Gasoline 3.16

971.20/184.40 = 5.26

5.26 *0.65 = 3.41

Based on gold, it is cheaper...  Just like Ron Paul said.