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	<title>Comments on: Whither the Oil Markets</title>
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		<title>By: Oil news &#124; Whither the Oil Markets - Contrarian Stock Market Investing News - Featuring Bargain Stocks</title>
		<link>http://whiskeyandgunpowder.com/whither-the-oil-markets/comment-page-1/#comment-773</link>
		<dc:creator>Oil news &#124; Whither the Oil Markets - Contrarian Stock Market Investing News - Featuring Bargain Stocks</dc:creator>
		<pubDate>Thu, 29 Jan 2009 14:25:02 +0000</pubDate>
		<guid isPermaLink="false">http://www.whiskeyandgunpowder.com/?p=3208#comment-773</guid>
		<description>[...] Source: Whither the Oil Markets   Advertisement [...]</description>
		<content:encoded><![CDATA[<p>[...] Source: Whither the Oil Markets   Advertisement [...]</p>
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		<title>By: Richard Huntzinger</title>
		<link>http://whiskeyandgunpowder.com/whither-the-oil-markets/comment-page-1/#comment-490</link>
		<dc:creator>Richard Huntzinger</dc:creator>
		<pubDate>Sun, 04 Jan 2009 17:59:55 +0000</pubDate>
		<guid isPermaLink="false">http://www.whiskeyandgunpowder.com/?p=3208#comment-490</guid>
		<description>What&#039;s the connection between the US Dollar and the dollar price of oil at the pump and the global price of oil in dollars?  The Bush administration ran a weak dollar policy from 1982 until this past September.  During that period, as the dollar fell, the price of oil - in dollars - rose.  It&#039;s very visible in an arithmetic monthly or weekly chart tracking theUS dollar index with EOD oil futures (West Texas Intermediate in Stockcharts.com) or other oil indexes; but because of the ratio between oil prices and the dollar, is less glaring in a log chart.  When the dollar reversed in September, oil prices dropped.  I think the weak dollar policy was about half of the reason oil prices climbed so high in the US.  The other half of the problem seems to have been the high rate of growth in China and India, which created a shortage of 1.0 to 1.5 or so million bbls/day of global production, while the US Congress (mainly democrats) refused to permit new offshore drilling or drilling in Anwar, despite many pleas to do so by Bush people.  Had the Congress approved new drilling, it might not have been enough to make up the shortage, but it certainly would have helped improve confidence levels, and we might not have gone through the financial panic that has exaggerated developments in the financial world and the economy during the most recent 3 months. Thanks for an excellent commentary.</description>
		<content:encoded><![CDATA[<p>What&#8217;s the connection between the US Dollar and the dollar price of oil at the pump and the global price of oil in dollars?  The Bush administration ran a weak dollar policy from 1982 until this past September.  During that period, as the dollar fell, the price of oil &#8211; in dollars &#8211; rose.  It&#8217;s very visible in an arithmetic monthly or weekly chart tracking theUS dollar index with EOD oil futures (West Texas Intermediate in Stockcharts.com) or other oil indexes; but because of the ratio between oil prices and the dollar, is less glaring in a log chart.  When the dollar reversed in September, oil prices dropped.  I think the weak dollar policy was about half of the reason oil prices climbed so high in the US.  The other half of the problem seems to have been the high rate of growth in China and India, which created a shortage of 1.0 to 1.5 or so million bbls/day of global production, while the US Congress (mainly democrats) refused to permit new offshore drilling or drilling in Anwar, despite many pleas to do so by Bush people.  Had the Congress approved new drilling, it might not have been enough to make up the shortage, but it certainly would have helped improve confidence levels, and we might not have gone through the financial panic that has exaggerated developments in the financial world and the economy during the most recent 3 months. Thanks for an excellent commentary.</p>
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		<title>By: Cornholio</title>
		<link>http://whiskeyandgunpowder.com/whither-the-oil-markets/comment-page-1/#comment-456</link>
		<dc:creator>Cornholio</dc:creator>
		<pubDate>Fri, 02 Jan 2009 17:10:43 +0000</pubDate>
		<guid isPermaLink="false">http://www.whiskeyandgunpowder.com/?p=3208#comment-456</guid>
		<description>&quot;For some strange reason, people still want to buy U.S. Treasury bills, bonds and notes.&quot;

Deflationary spiral in a world with to much debt and overcapacity. Every dollar that the Central bank prints or the government borrows and spends in a world where monetary systems where money is nothing but debt which must be paid back with interest increases the down turn. The more they print and spend the worse it gets. Homeless people don&#039;t drive cars, they sleep in them by the way. A dead cat bounce in oil seems reasonable at this point just don&#039;t forget to sell.</description>
		<content:encoded><![CDATA[<p>&#8220;For some strange reason, people still want to buy U.S. Treasury bills, bonds and notes.&#8221;</p>
<p>Deflationary spiral in a world with to much debt and overcapacity. Every dollar that the Central bank prints or the government borrows and spends in a world where monetary systems where money is nothing but debt which must be paid back with interest increases the down turn. The more they print and spend the worse it gets. Homeless people don&#8217;t drive cars, they sleep in them by the way. A dead cat bounce in oil seems reasonable at this point just don&#8217;t forget to sell.</p>
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		<title>By: DrumBeat: December 30, 2008 &#124; The Oil Report</title>
		<link>http://whiskeyandgunpowder.com/whither-the-oil-markets/comment-page-1/#comment-447</link>
		<dc:creator>DrumBeat: December 30, 2008 &#124; The Oil Report</dc:creator>
		<pubDate>Fri, 02 Jan 2009 02:27:15 +0000</pubDate>
		<guid isPermaLink="false">http://www.whiskeyandgunpowder.com/?p=3208#comment-447</guid>
		<description>[...] Byron King: Whither the Oil Markets  “Global Demand for Oil to Plummet,” screams a recent Financial Times headline. Huh? No it won’t. Who are they trying to kid?  Global oil demand is not going to “plummet.” And for the FT to say so is just plain silly, if not irresponsible. OK, I know. There’s an old saying that they teach in journalism schools. “You have to sell newspapers.” But this declaration by the FT highlights the perils of letting a headline-writer do your thinking for you. It’s what I call “arguing a screaming conclusion.” And a wrong conclusion at that. [...]</description>
		<content:encoded><![CDATA[<p>[...] Byron King: Whither the Oil Markets  “Global Demand for Oil to Plummet,” screams a recent Financial Times headline. Huh? No it won’t. Who are they trying to kid?  Global oil demand is not going to “plummet.” And for the FT to say so is just plain silly, if not irresponsible. OK, I know. There’s an old saying that they teach in journalism schools. “You have to sell newspapers.” But this declaration by the FT highlights the perils of letting a headline-writer do your thinking for you. It’s what I call “arguing a screaming conclusion.” And a wrong conclusion at that. [...]</p>
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		<title>By: DrumBeat: December 30, 2008 &#124; EcoSilly</title>
		<link>http://whiskeyandgunpowder.com/whither-the-oil-markets/comment-page-1/#comment-417</link>
		<dc:creator>DrumBeat: December 30, 2008 &#124; EcoSilly</dc:creator>
		<pubDate>Wed, 31 Dec 2008 01:21:55 +0000</pubDate>
		<guid isPermaLink="false">http://www.whiskeyandgunpowder.com/?p=3208#comment-417</guid>
		<description>[...] Byron King: Whither the Oil Markets  “Global Demand for Oil to Plummet,” screams a recent Financial Times headline. Huh? No it won’t. Who are they trying to kid?  Global oil demand is not going to “plummet.” And for the FT to say so is just plain silly, if not irresponsible. OK, I know. There’s an old saying that they teach in journalism schools. “You have to sell newspapers.” But this declaration by the FT highlights the perils of letting a headline-writer do your thinking for you. It’s what I call “arguing a screaming conclusion.” And a wrong conclusion at that. [...]</description>
		<content:encoded><![CDATA[<p>[...] Byron King: Whither the Oil Markets  “Global Demand for Oil to Plummet,” screams a recent Financial Times headline. Huh? No it won’t. Who are they trying to kid?  Global oil demand is not going to “plummet.” And for the FT to say so is just plain silly, if not irresponsible. OK, I know. There’s an old saying that they teach in journalism schools. “You have to sell newspapers.” But this declaration by the FT highlights the perils of letting a headline-writer do your thinking for you. It’s what I call “arguing a screaming conclusion.” And a wrong conclusion at that. [...]</p>
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		<title>By: Heath Buckner</title>
		<link>http://whiskeyandgunpowder.com/whither-the-oil-markets/comment-page-1/#comment-414</link>
		<dc:creator>Heath Buckner</dc:creator>
		<pubDate>Tue, 30 Dec 2008 18:09:50 +0000</pubDate>
		<guid isPermaLink="false">http://www.whiskeyandgunpowder.com/?p=3208#comment-414</guid>
		<description>Mr. Kaiser, I wish that I could share your optimism on alternative energy sources. However, in my humble opinion, the democratic-controlled congress and white house will be more hesitant to develop domestic fields with oil at $40/bbl - and unless develpoment happens soon, it will not be able to move the needle on global crude prices. As for alternative energy sources, the capital required to develop a real alternative to petroleum (i.e. not a &quot;token&quot; alternative, but one that will cut US demand for oil by 25-50%) will not be available - the capital just doesnt exist in the private markets and the government will have to borrow or print money so rapidly to invest in these alternatives that inflation will run rampant, which of course will be followed by increased consumer prices. 

Good, bad, or indifferent, I think that Mr. King has the bead on this issue and we will indeed see oil back above $60 in 2009.</description>
		<content:encoded><![CDATA[<p>Mr. Kaiser, I wish that I could share your optimism on alternative energy sources. However, in my humble opinion, the democratic-controlled congress and white house will be more hesitant to develop domestic fields with oil at $40/bbl &#8211; and unless develpoment happens soon, it will not be able to move the needle on global crude prices. As for alternative energy sources, the capital required to develop a real alternative to petroleum (i.e. not a &#8220;token&#8221; alternative, but one that will cut US demand for oil by 25-50%) will not be available &#8211; the capital just doesnt exist in the private markets and the government will have to borrow or print money so rapidly to invest in these alternatives that inflation will run rampant, which of course will be followed by increased consumer prices. </p>
<p>Good, bad, or indifferent, I think that Mr. King has the bead on this issue and we will indeed see oil back above $60 in 2009.</p>
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		<title>By: Bill Baerg</title>
		<link>http://whiskeyandgunpowder.com/whither-the-oil-markets/comment-page-1/#comment-405</link>
		<dc:creator>Bill Baerg</dc:creator>
		<pubDate>Tue, 30 Dec 2008 01:03:34 +0000</pubDate>
		<guid isPermaLink="false">http://www.whiskeyandgunpowder.com/?p=3208#comment-405</guid>
		<description>Hi Byron,

About Stephen Harper; here are facts: 
1. He is a devout evangelical Christian
2. He is an economist by university training
3. He is Conservative or right of center in his politics
4. He is not really a politician in the traditional sense
5. He was a founding executive in a series of right wing, grass roots, western Canadian protest parties that culminated in them putting the traditional Bay Street Conservative Party out of business and bringing the name and most of their followers into the fold of a new grassroots organization complete with a new party of the constituents with a new party constitution.
6. While all other Canadian Political Parties are Millions in debt the Conservatives have a multi-million dollar war chest.
7. Due to his personal beliefs he has been painted by the press as a scary, right-wing, stone-age, Christian politician, about to impose his religious beliefs on us all.

Thus I will make the following observations. I have been told he was a Rothbard follower. He has effected many small changes that would indicate likewise. The new Conservative party has only been able to achieve a minority government in 3 elections in 5 years and as such has had to tread very lightly to hold onto power. I believe we Canadians are in a much better position than we would have been. In September the best performing country in the G8. I also believe they have been forced by public consensus to follow the lead of the American government in throwing money at the banks and the auto industry.
They have reduced government spending, lowered all taxes significantly and reduced the amount of government intervention in our lives. 

Hope this covers some of your questions.

Bill</description>
		<content:encoded><![CDATA[<p>Hi Byron,</p>
<p>About Stephen Harper; here are facts:<br />
1. He is a devout evangelical Christian<br />
2. He is an economist by university training<br />
3. He is Conservative or right of center in his politics<br />
4. He is not really a politician in the traditional sense<br />
5. He was a founding executive in a series of right wing, grass roots, western Canadian protest parties that culminated in them putting the traditional Bay Street Conservative Party out of business and bringing the name and most of their followers into the fold of a new grassroots organization complete with a new party of the constituents with a new party constitution.<br />
6. While all other Canadian Political Parties are Millions in debt the Conservatives have a multi-million dollar war chest.<br />
7. Due to his personal beliefs he has been painted by the press as a scary, right-wing, stone-age, Christian politician, about to impose his religious beliefs on us all.</p>
<p>Thus I will make the following observations. I have been told he was a Rothbard follower. He has effected many small changes that would indicate likewise. The new Conservative party has only been able to achieve a minority government in 3 elections in 5 years and as such has had to tread very lightly to hold onto power. I believe we Canadians are in a much better position than we would have been. In September the best performing country in the G8. I also believe they have been forced by public consensus to follow the lead of the American government in throwing money at the banks and the auto industry.<br />
They have reduced government spending, lowered all taxes significantly and reduced the amount of government intervention in our lives. </p>
<p>Hope this covers some of your questions.</p>
<p>Bill</p>
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		<title>By: Michelle</title>
		<link>http://whiskeyandgunpowder.com/whither-the-oil-markets/comment-page-1/#comment-404</link>
		<dc:creator>Michelle</dc:creator>
		<pubDate>Tue, 30 Dec 2008 00:49:57 +0000</pubDate>
		<guid isPermaLink="false">http://www.whiskeyandgunpowder.com/?p=3208#comment-404</guid>
		<description>A Canadian take on PM Harper: Byron, we are pretty pi**ed at all sides of this ridicuous issue!  (Although technically, with parliament prorogued, at least they aren&#039;t wrecking the country with bad policies.)
It seems to me that Mr. Harper has poked the opposition in the eye once too many times - he was so sure they wouldn&#039;t call an election since we just had one, he&#039;s been playing this game since he first got elected.  He&#039;s very petty, controlling and mean spirited.
He&#039;s a smart guy, he even has a masters in economics - he could be of use in this mess, too bad he&#039;s too busy playing partisan games.</description>
		<content:encoded><![CDATA[<p>A Canadian take on PM Harper: Byron, we are pretty pi**ed at all sides of this ridicuous issue!  (Although technically, with parliament prorogued, at least they aren&#8217;t wrecking the country with bad policies.)<br />
It seems to me that Mr. Harper has poked the opposition in the eye once too many times &#8211; he was so sure they wouldn&#8217;t call an election since we just had one, he&#8217;s been playing this game since he first got elected.  He&#8217;s very petty, controlling and mean spirited.<br />
He&#8217;s a smart guy, he even has a masters in economics &#8211; he could be of use in this mess, too bad he&#8217;s too busy playing partisan games.</p>
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		<title>By: Donald V. Kaiser</title>
		<link>http://whiskeyandgunpowder.com/whither-the-oil-markets/comment-page-1/#comment-398</link>
		<dc:creator>Donald V. Kaiser</dc:creator>
		<pubDate>Mon, 29 Dec 2008 20:04:24 +0000</pubDate>
		<guid isPermaLink="false">http://www.whiskeyandgunpowder.com/?p=3208#comment-398</guid>
		<description>The current low price of oil has nothing to do with over supply or reduced demand. It is because the recent VERY high prices has sparked a desire in the US to quickly develope alternative energy and to drill for our own oil in the US. OPEC is so afraid that they have awakened a sleeping giant that they have lowered the price so we won&#039;t keep urging development of alternative energy. It won&#039;t work though. We already are starting to develope alternative sources, and the efforts won&#039;t stop because of cheaper gasoline supplies.
The genie is out of the bottle and won&#039;t go back in.</description>
		<content:encoded><![CDATA[<p>The current low price of oil has nothing to do with over supply or reduced demand. It is because the recent VERY high prices has sparked a desire in the US to quickly develope alternative energy and to drill for our own oil in the US. OPEC is so afraid that they have awakened a sleeping giant that they have lowered the price so we won&#8217;t keep urging development of alternative energy. It won&#8217;t work though. We already are starting to develope alternative sources, and the efforts won&#8217;t stop because of cheaper gasoline supplies.<br />
The genie is out of the bottle and won&#8217;t go back in.</p>
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		<title>By: Ken Stremsky</title>
		<link>http://whiskeyandgunpowder.com/whither-the-oil-markets/comment-page-1/#comment-396</link>
		<dc:creator>Ken Stremsky</dc:creator>
		<pubDate>Mon, 29 Dec 2008 19:18:09 +0000</pubDate>
		<guid isPermaLink="false">http://www.whiskeyandgunpowder.com/?p=3208#comment-396</guid>
		<description>Byron 

What do you think the prospects are for increased coal usage in our country while reducing pollution from coal?

How would you encourage more people and businesses to obtain power from the sun and wind?

How would you encourage more people and businesses to buy cars that run on electricity and cars that run on electricity with fuel as a backup power source?

Do you think the federal government and state governments should increase the gasoline tax over time?  I do.  This will help us reduce our dependence upon foreign oil.  If the federal government spends more money on buses within cities and buses between cities, people may have an easier time getting to jobs and from jobs which would help reduce the need for food stamps, Medicaid, and unemployment.  If fewer families need to have 2nd cars and 3rd cars, they could save money on transportation and have more money for other things.

If the federal government is serious about growing the economy and creating jobs, it should stop taxing interest from savings accounts, dividends, capital gains, and estates.  People and businesses will have more money to spend.  Businesses will have an easier time obtaining loans and investments for hiring workers, research and development, and plant and equipment.  Middle class people and union members would benefit from capital gains and dividends not being taxed.

The federal government should sell a lot of the land it owns to raise capital, reduce the national debt, help fund Social Security and Medicare, invest in infrastructure projects, and do other things.  Some of the money the federal government obtains from the sale of the lands should go to state governments.  If you type federal government owned land on a search engine, you might be surprised at how much land the federal government owns.

Congress should eliminate the Federal Reserve or veto many of its decisions.  

Congress should consider backing our currency with gold, silver, and other commodities.

The United States of America should end the trade embargo with Cuba.  We trade with China.  We should be willing to trade with Cuba.  We should let in sugar, cigars, and many other products.

The United States of America should consider making a lot of fuel from sugar the way that Brazil does.  The United States of America may want to import a great deal of fuel from Brazil.

The United States of America should consider making a lot of fuel from non food crops.

The United States of America should do a better job of obtaining fuel from used cooking oil that come from restaurants.

I graduated from the University of New Hampshire in 1992 with a BA Degree in Political Science and a minor in Economics.

I ran for United States Senate from New Hampshire in 2002.

My website is http://www.myspace.com/kennethstremsky</description>
		<content:encoded><![CDATA[<p>Byron </p>
<p>What do you think the prospects are for increased coal usage in our country while reducing pollution from coal?</p>
<p>How would you encourage more people and businesses to obtain power from the sun and wind?</p>
<p>How would you encourage more people and businesses to buy cars that run on electricity and cars that run on electricity with fuel as a backup power source?</p>
<p>Do you think the federal government and state governments should increase the gasoline tax over time?  I do.  This will help us reduce our dependence upon foreign oil.  If the federal government spends more money on buses within cities and buses between cities, people may have an easier time getting to jobs and from jobs which would help reduce the need for food stamps, Medicaid, and unemployment.  If fewer families need to have 2nd cars and 3rd cars, they could save money on transportation and have more money for other things.</p>
<p>If the federal government is serious about growing the economy and creating jobs, it should stop taxing interest from savings accounts, dividends, capital gains, and estates.  People and businesses will have more money to spend.  Businesses will have an easier time obtaining loans and investments for hiring workers, research and development, and plant and equipment.  Middle class people and union members would benefit from capital gains and dividends not being taxed.</p>
<p>The federal government should sell a lot of the land it owns to raise capital, reduce the national debt, help fund Social Security and Medicare, invest in infrastructure projects, and do other things.  Some of the money the federal government obtains from the sale of the lands should go to state governments.  If you type federal government owned land on a search engine, you might be surprised at how much land the federal government owns.</p>
<p>Congress should eliminate the Federal Reserve or veto many of its decisions.  </p>
<p>Congress should consider backing our currency with gold, silver, and other commodities.</p>
<p>The United States of America should end the trade embargo with Cuba.  We trade with China.  We should be willing to trade with Cuba.  We should let in sugar, cigars, and many other products.</p>
<p>The United States of America should consider making a lot of fuel from sugar the way that Brazil does.  The United States of America may want to import a great deal of fuel from Brazil.</p>
<p>The United States of America should consider making a lot of fuel from non food crops.</p>
<p>The United States of America should do a better job of obtaining fuel from used cooking oil that come from restaurants.</p>
<p>I graduated from the University of New Hampshire in 1992 with a BA Degree in Political Science and a minor in Economics.</p>
<p>I ran for United States Senate from New Hampshire in 2002.</p>
<p>My website is <a href="http://www.myspace.com/kennethstremsky" rel="nofollow">http://www.myspace.com/kennethstremsky</a></p>
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