Where is the US economy headed?

H2O, It's obvious you're now living in the dark, and there's only one place that is possible for you; in your own arse. Wake up and smell the stink.

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CI, go get a hobby and enjoy your retirement because internet banter is not your strong suit.

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HO2_MAN wrote :

Quote:

If you think it's bad now, just wait until Obama tears all of us a new ass hole.

i understand that the few dollars left will comfortably fit through one hole ! :wink:
perhaps the chinese will need a second hole to get rid of the dollars that the U.S. consumers willingly passed on to them in exchange for plastic toys and running shoes .
the chinese are a bit constipated with all the U.S. dollars they've accumulated and are trying to use some of their new-found riches to buy into the canadian oilsands .

the chinese have been investing in canadian oil sands since 2006 and perhaps even earlier :

Quote:

Canadian oil sands vital to China's energy security: NDRC
May 18, 2006
Platts

China's investment in Canada's oil sands projects form a vital piece of the country's energy security strategy for years to come and will help meet the country's increasing energy needs, Zhang Yuqing, deputy director-general of the energy bureau within China's powerful National Development and Reform Commission, said Thursday.

State-owned offshore oil producer CNOOC Ltd has taken a 16.69% stake in privately-owned Canada-based MEG Energy, and the C$150 million ($135 million) acquisition is expected to help pave the way for further investment by the Chinese oil major in Canada's huge oil sands resources. Calgary-based MEG Energy owns oil sand leases covering 32,900 acres in Alberta.

full report :
CHINA - CANADIAN OIL SANDS

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H2O_MAN wrote:

CI, go get a hobby and enjoy your retirement because internet banter is not your strong suit.

H2O, Listening is not "your" strong suit; if you had been listening, you would know like everybody on a2k that I already have "hobbies."

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cicerone imposter wrote:

okie wrote: Now, just because they have not yet drilled every lease does not indicate to them that there is no oil there. It probably means they think there remains enough potential to hold the lease, but not enough to punch a hole in every lease immediately.

*****************

Doesn't fly; not that long ago, oil was $60/bbl, and it's now over $140/bbl. If that doesn't motivate the oil companies to extract that oil at more than double the value in just a year, hanging onto those leases without gaining on the profit is not only ridiculous but doesn't make any sense.

Sorry, but you don't make any sense. Your geology education hasn't taught you anything about potential gross profit.

What it looks like it to me is that the oil companies are artificially keeping supply lower than it needs to be.

I don't know how to be diplomatic about this, ci, but it makes all the sense in the world. Go back to the auto analogy again. Auto companies build cars, but they always have an inventory of ideas and possibilities in the works, and if they didn't, they would die on the vine. Leases are an inventory of ideas and possibilities awaiting further evaluation and testing. As that process plays out, some leases will be drilled in the future, some leases will be dropped.

Incidentally, in Oklahoma, many areas are now operated by smaller companies trying to make a buck on marginal wells. Also leases are acquired or held in older areas that may have been leased before, maybe several times over. Some leases are held, and possibly drilled, then dropped, only to be picked up again at some point because of a newer idea to drill deeper, drill differently such as horizontally, or because for one huge reason, the price of oil has gone up that a previously uneconomic reservoir is now economic.

ci, do not try to prove that holding leases without drilling every single one of them now is some kind of conspiracy. You are a nice guy, I think, but crotchety, and simply like to argue, but I think other subjects would be better suited for you to take up.

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okie, Now, you've really lost me comparing leased oil fields to autos. As for drilling every one is not even close; over 80 percent has never been drilled.

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Business is business, and many principles are universal in nature. I am trying analogies to try to explain it.

ci, I have enjoyed arguing with you forever here on A2K, and I percieve you to be a decent guy, just argumentative, and my wife accuses me of taking the other side for the fun of a debate. I think that is what you do, but you go off the deep end sometimes.

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cicerone imposter wrote:

okie, Now, you've really lost me comparing leased oil fields to autos. As for drilling every one is not even close; over 80 percent has never been drilled.

For every car built, they probably designed or conceptualized several times that many.

Designing or conceptualizing cars is cheaper than building them, and so is acquiring leases much cheaper than drilling them. Oil companies, particularly large oil companies, do not want to be "lease poor," as that is not good business if you seriously want to compete in the business.

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cicerone imposter wrote:

H2O_MAN wrote:
CI, go get a hobby and enjoy your retirement because internet banter is not your strong suit.

H2O, I already have "hobbies."

Keeping a box of dead bees in your closet and hitting the keyboard with your stubby fingers do not constitute hobbies.

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A yankee in Georgia wouldn't the difference between a keyboard and their head.

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cicerone imposter wrote:

A yankee in Georgia wouldn't the difference between a keyboard and their head.

You really should stop drinking Appletini's during the day - you are incoherent.

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See! I told you you didn't know the difference, and you just proved it. LOL

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cicerone imposter wrote:

"A yankee in Georgia wouldn't the difference between..."

cicerone imposter wrote:

See! I told you you didn't know the difference, and you just proved it. LOL

You fail to see your error Rolling Eyes

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No error on my part; you're suffering from lack of concepts.

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Quote:

Quote of the Day

by Tanta

Mr. Dimon of JP Morgan, via Housing Wire:

"Prime [mortgage book] looks terrible," he told analysts on the call. "And we're sorry, and there's nothing else we can say."

Whew

Big losses for Cap One and Merrill reported today as well.

Cycloptichorn

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cicerone imposter wrote:

No error on my part; you're suffering from lack of concepts.

The error goes to cicerone imposter.

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Xenoche wrote:

teenyboone wrote:
mysteryman wrote:
cicerone imposter wrote:
Hang onto your hat, because it's gonna get real bad; oil prices will continue to go up as well as our food prices.

The the depreciation of home values, many more families will be losing their homes; bankruptcies will trend upwards for another several years.

Its nice of you to finally admit that nothing will get better if Obama wins the election.

IMHO, they'll get WORSE, if McSame wins! NO win! :wink:

IMHO, it will get WORSE, no matter who wins!

Global economy is like a swaying house of cards, and Katrina is coming for the second round. No president can turn the current house of cards into Fort Knox. No win.

The reason we have a house of cards is the "oil-men" in the White House! This is no accident. It's by design! I'm thinking that Bush is going to institute Martial Law and NOT leave, like Clinton shouldn't have left until EVERY vote was counted! Cool

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teenyboone wrote:

Xenoche wrote:
teenyboone wrote:
mysteryman wrote:
cicerone imposter wrote:
Hang onto your hat, because it's gonna get real bad; oil prices will continue to go up as well as our food prices.

The the depreciation of home values, many more families will be losing their homes; bankruptcies will trend upwards for another several years.

Its nice of you to finally admit that nothing will get better if Obama wins the election.

IMHO, they'll get WORSE, if McSame wins! NO win! :wink:

IMHO, it will get WORSE, no matter who wins!

Global economy is like a swaying house of cards, and Katrina is coming for the second round. No president can turn the current house of cards into Fort Knox. No win.

The reason we have a house of cards is the "oil-men" in the White House! This is no accident. It's by design! I'm thinking that Bush is going to institute Martial Law and NOT leave, like Clinton shouldn't have left until EVERY vote was counted!

Having a sitting president that was just impeached declare martial law would have been some trick.

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teenyboone wrote:

The reason we have a house of cards is the "oil-men" in the White House! This is no accident. It's by design! I'm thinking that Bush is going to institute Martial Law and NOT leave, like Clinton shouldn't have left until EVERY vote was counted!

Yes, those evil "oil-men" are devils, and I alway wondered if their ultimate objective was to take over the world. It could happen any day now, martial law, yes, I doubt if they wait until just before leaving office!

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okie wrote:

teenyboone wrote:

The reason we have a house of cards is the "oil-men" in the White House! This is no accident. It's by design! I'm thinking that Bush is going to institute Martial Law and NOT leave, like Clinton shouldn't have left until EVERY vote was counted!

Yes, those evil "oil-men" are devils, and I alway wondered if their ultimate objective was to take over the world. It could happen any day now, martial law, yes, I doubt if they wait until just before leaving office!

The irony that the likes of okie will never understand.

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Where is the US economy headed?

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