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Posted by: ChefEOD 1 year, 6 months ago
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Gransater1 year, 6 months ago
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Demand in India and China.......
I have neigther seen, read or heard about the greatly expanded infrastructure in eigther of two countries to support an increase in demand in fuels, that so would influence the increase in world oil prices.
Also, I haven't seen, heard or read about the incredible increase in wealth that would allow for the increase in vehicle purchase that would sustain the increase in fuel consumption, that would increase the deamnd you are aluding to. The people in those countries may, if lucky, gone from earning 4 bucks a day, to earning 6 bucks a day. Hardly the kind of income that would allow you to go out and buy a vehicle.
The price of oil is currently being affected by futures speculators, using any excuse possible to increase the price. Every time you see a report of disruption in the extraction and or transmission of oil in Nigeria, the market goes up. There are several examples of similar incidents driving up the price.
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Gransater1 year, 6 months ago
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To answer your question in a direct way, the war in Iraq has had greater influence, not because of production, but because of demand from US forces currently in that country, for fuel, to move the US mobil infrastructure around inside of Iraq.
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Gransater1 year, 6 months ago
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No. I'm saying that the oil used in Iraq has a greater overall influence than the so called increase in demand from countries like India and China.
In other words, I don't believe India and China has anything to do with world wide increase of cost. If you read my response, you'd note that I believe speculators on the futures market carry the largest blame for increases, hanging on every negative tidbit they can find as justification to bid up the price.
I'm certain you understood what I meant, even though you failed to address the other points, and chose instead to try to make the fuel usage in Iraq into a major issue. It isn't. You asked me what I considered had greater influence, NOT what was the major MARKET influence.
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Gransater1 year, 6 months ago
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Also, on a sidebar, our ally, Saudi Arabia has had its spokesperson more than once say that they have a surplus in the production of oil, and will therefore not acomodate US requests to increase production.
There is only two answers to that.
1 - They are lying and aren't really runing a surplus.
2 - US request for increased production blaming increased fuel costs on increased demand beyond production is a lie.
Which party is lying, as both can't be right?
Anyway, this is way of thread of this discussion, so I'm returning to it.
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Gransater1 year, 6 months ago
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HI WOLFIE
I see you out on the prowl again, doling out negs as fast as you can. Got to be careful though, that pesky bad box is too close to the good box.
I'll try and do you right, and wear all those negs you gave me, in the spirit you intended. I'm proud of'em, in a negative way, sort of. Over the months I've gotten quite a few of them. I sure wish I could put them all up in a shadow box, with a big picture of you in the background.
Have a great weekend Wolfie, and watch out for the Good box.
:) G
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