Oil Rig Sinks: This is the trigger I have been fearing...Economic Collapse Iminent?

reply to post by Xcouncil=wisdom


No, not suggesting anything... merely stating that it was reported that there was an event prior to the fire, that eventually destroyed the rig.... that is all.... good to see ya back, mate....

reply to post by dampnickers


I would agree...except that I don't. America is a big place, we have counties in NC bigger than some European countries. We have states bigger than all of Europe. To get around, you need a ride that will do the job.

Besides, I need a truck that can haul stuff and lots of it... to market and from market. I might travel 45 or more mile to an auction to trade livestock. Out west, you might drive 45 miles just to get to the store.

Unlike Europe, we can't throw a rock from one town to the next...

The first thing any European notices when they come to America..not NY or LA but the REAL America is just how big and spread out it is.

We look forward to yall coming and seein' us.

reply to post by Xcouncil=wisdom


I don't know about economic collapse.. but the price of oil has almost doubled in the past year.. that IS significant. It will eat into our pockets, especially those living off their unemployment checks.

What is interesting is that oil peaked at almost $150/bbl and then the economy crashed.. it's a sign perhaps of economic deterioration based on the decline in the USD purchasing power.. something to study anyways. I'm actually kinda interested to see just how high it can go. In a morbid kinda humor that is.

reply to post by Rockpuck


It will be very interesting to see if the oil co's and their speculators try to run the price way up again...Hopefully calling them on it before they can might slow it down from happening.
We are seeing it at the pump already...back up about $3 a gallon here already...and keeps going up each day it seems.
That's the nice thing about my propane truck. When one company starts upping the price (I have my own 500 gallon tank at home) I call another company, complain about the last, and they beat their price. Propane stayed around $2 a gallon when gas was $4.50. It was $2 before, and its around $2 now. Anyways....can't go to Chevron station and tell them Texaco is selling for $.10 cheaper down the road...it just don't work that way...no real competition...just racketeering/pricefixing....isn't that illeagal?
Oh well, our government is more concerened with making new laws no time to enforce the old ones. Well, they have time to enforce some, just not the ones the lobbyists tell them aren't important.

reply to post by Xcouncil=wisdom


I paid $3.07 today so I feel your pain. Price fixing isn't illegal unless its during a "crisis" when people panic and the companies take advantage of it. If gas station owners wanted to, they could charge $5 a gallon .. problem is, no one would go to their station. The price is generally relative to delivery prices, though some stations try to charge a few cents more than the average mark up, especially if they are situated right off a highway exit. I knew a dude who owned a gas station, he claimed he made most of his money off food and drinks sold in the store, and not the actual gas (which I still find shocking). I was nervous that my new house has gas heat, cooking, water etc but natural gas prices are actually at 4 year lows right now, despite high oil prices.

Oh sure...bring reason to my hysteria hyping!!! Sheesh. Trying to be a sensationlist here!!


Seriously though...I was a Petrolium Technician for many years...
Least that's what I called myself as a teenager when I worked at gas stations.
First one was privately leased from a local fuel company...my boss constantly complained that the distributer sold us gas for the same price or more than what they were selling it at their own station on the other side of town (Astoria Oregon, not that big of a town) kinda rude huh...'here, lease the station, you can only buy from me, and by the way I'm gonna charge the same at my pump as what I put in your tanks for you to sell...don't forget the rent check thanks'.
My second pump jockey job was for a station owned by a distributor in The Dalles...we were always busy...had the cheapest prices in town!

[edit on 23-4-2010 by Xcouncil=wisdom]

This Oil Rig, which is the Deepwater Horizon, is one of the largest, deep water, off-shore drilling rigs....

I wonder if that initial explosion was a suicide bomber? We KNOW Al Qaeda wants to hurt us economically. This is one way to do it.

Imagine one of these bombers on each rig? That is scary guys.... I hope to god the NSA is looking into this. As it may be a National security matter.
Not saying it IS terrorism, but it's always good to check and make sure.

Edit: Here is the Wiki on the Rig:
en.wikipedia.org...

[edit on 4/23/2010 by Pharyax]

[edit on 4/23/2010 by Pharyax]

Originally posted by Rockpuck
I'm actually kinda interested to see just how high it can go. In a morbid kinda humor that is.

Hi RP. Here are a few estimates from the major specs. Author Peter Krauth also shares his method for determining resource equities positions, with emphasis on two of my favorite vehicles: leveraged 3rd tier exploration companies, and emerging producers.

Bankster Gangsters Global Commodities Grab Causes Major Bank Profits to Soar
Apr 22, 2010

I could go on and on with details about the burgeoning importance this has for major bank profits. But let me give you one statistic that really cuts to the bottom line: Today, four of the largest U.S. banks have upwards of $4 trillion riding on commodities-related investments.

Goldman Sachs, for instance, is calling for gold to reach $1,350 an ounce in 2010 and $1,425 an ounce by 2011. It's also forecasting oil to be trading in a range of $92 a barrel to $97 a barrel within three to six months. It's even predicting an oil shortage for 2011, and is calling for oil - the so-called "black gold" - to reach $110 per barrel by then.

For its part, Barclays believes oil will bump up against the $100-a-barrel level before the year is out, and even sees crude prices reaching $140 within the next five years. Bank of America expects oil to exceed $105 this year, and is forecasting $150 within four years.

So how are these investment banks able to make such bold predictions about rocketing prices? How can they be so confident?

There's only one answer: They're taking tangible steps to gain control over commodities supplies - essentially guaranteeing that prices go higher.

Full Text

Inflation: A rose by any other name....


[atsimg]http://files.abovetopsecret.com/images/member/a79d925505d2.png[/atsimg]

Unadjusted Year Over Year: Producer Price Index Up 6.1%

reply to post by Pharyax


"I wonder if that initial explosion was a suicide bomber? We KNOW Al Qaeda wants to hurt us economically. This is one way to do it. "

I have also seen it suggested that this could be an envrioactivist retaliation to Obama opening up more offshore drilling.

Imagine either one...plausable

reply to post by OBE1


That inflation chart is honestly frightening (at how fast it reversed) .. the only good thing I see with this is that with deflation we see net job loss, inflation net job gain. But.. our Dollar is going to go down the toilet with this (subsequently increasing the prices of oil, gold, silver, etc..)

How bad do you think the inflation phase of the Governments .. interference .. going to get?

I just read somewhere that the Coast Guard retracted their statement about the Oil Rig experiencing an explosion 3 hours prior to the disaster. They said something about a timestamp being wrong when the information was collected. I saw the article on Yahoo! News, but can't find the article now....must be late and my eyes not cooperating with me.

Yeah,

I considered the same thing nearly three weeks ago when 5 people were killed in an Anacortes Washington refinery explosion that shut it down indefinitely.

After all these oil companies are responsible for slaughtering people in wars, what's the sacrificial deaths of a few oil man or refinery workers when it helps raise their profits?



[edit on 23-4-2010 by verylowfrequency]

reply to post by Zosynspiracy


You make it sound like us Europeans live like sardines? you couldn't be more wrong, there is plenty of space in most European Countries, most of our Cities are nowhere as cramped as many American Cities, very few European cities have populations over 1 million people for instance, those that do are the romanticised Cities that people dream of visiting, Like Paris for instance.

My Family are lucky where as we live right on the edge of the City, but it's a City with a population less than 500,000 people and about 5 miles across, compare that with Cities like Phoenix, or New York where you have Millions cramped together right on top of each other, there are so few Cities in the World bigger and more cramped.

Here in the Uk you can drive from one end of the Country to the other in well less than a day, yet we still can drive in places where you don't see anything bigger than a small village with populations of less than 3000 people, towns are closer together sure, but we still have a lot of countryside with the odd house or farm, yet it is still expensive to deliver goods, I have never understood how the cost of delivering anything here could be more expensive than deliveries in the USA where it is common for trucks to drive 2 3 4 days to deliver goods.

It all comes down to lies told to us by those in control of these resources, recently there has been a lot about how the likes of Iran are running low on oil reserves and how can that be right they are lying ETC, but people fail to realise that countries like Iran where using oil 1 2 hundred years before the USA even existed, they just used it in differing ways, bathing in it for health for instance, I ran a place where the oil came to them by bubbling up to the surface.

It's manipulation and as the oil dries up, they will come up with the miracle invention to give us free energy, or at the least a way to give us energy a lot cleaner and cheaper, this tech already exists, it's just controlled by the same people who are telling us it's so expensive to produce and get the products made by oil to us, it's all lies.

They try to encourage us to have alternative energy producing methods at home like solar power, or wind power, yet when I tried to get a permit to have a small wind turbine and solar panels, they refused outright to allow it, why is that? what possible harm could be done by me having a solar collecting system on my roof? yet they tell me it's because the neighbours may object, so I asked the neighbours would they be willing to contribute to a localised turbine to provide ourselves with wind energy, they where all for it, especially when they realised that once the cost of the equipment and maintenance where taken into account that within 5 years we would be making a profit by selling unused power to the National grid, the local council got even tougher saying absolutely not, that makes no sense what so ever.

They promote it never intending allowing us to take advantage of it, unless of course you are an energy company.

I am not talking about huge turbines either, I am talking about a small system enough to power maybe 30 homes, if each small area where allowed to do such things it would make us self sufficient, and that is not what they want, even Tesla had financial backing to produce energy which could be delivered through air, but when asked where do we put the meter, he said you don't that was the end of everything he had worked for, his inventions where stolen when he died, never to be seen again YET, because these will be the major breakthroughs that will come about, once they figure out how to make us pay through the nose for it, and Tesla will get no credit for it at all.

The technology is there, and could be free if we put our minds to it, but we wont be allowed to have it until they find a way to get what they think we will pay for it first, and all on their terms, people are just not willing to give up their luxuries long enough to send them a message, enough is enough, imagine how scared these companies would be if everyone just for one day refused to buy their products, with the threat of doing it time and time again until they dropped their pretence and lies, but people wont, and so we suffer for it, and they know it.

We do it to ourselves, by allowing them to pay off our supposed leaders to allow them to do it, it's a problem that is Worldwide not any single Country, we also allow them to invade and take control of other nations because they have oil, using the excuse that those Countries are a danger to us, and they will hurt us unless we go and stop them, the same crap that has the World running scared of terrorism, tell me what would any of you do if someone came and started killing your families? wouldn't you want to go and destroy them?

We are all now paying the price of that scenario, these people fight us with the only way they can, which gives those who started it in the first place room to put restrictions on our lives to keep us safe, for those who run our Countries, it's a win win situation, with the people paying the price on all fronts.

reply to post by Xcouncil=wisdom

Remember that summer two years ago when gas almost cost $5 a gallon in the US?

I feel sorry for you. Gas is $8.24/gal. here, now, today, in the UK.

Originally posted by Rockpuck
How bad do you think the inflation phase of the Governments .. interference .. going to get?

I wish I knew RP...the way the banks are positioning themselves, low double digit "stagflation" feels like a safe place to start. I'm hearing more and more hyper-speculation from various pundits, wth John Williams being chief amongst them. Hell of a debt-load up ahead...if we crank-up the presses to fund/service, will the world lose total confidence in uncle bucky ? If so, history tells us HI could happen in a heartbeat, like overnight (a thief in the night).

By the way RP, do you enjoy horror movies? Here's the latest from Cliff & the Webbot Time Monks - Link

Kind of a companion piece to predator0187's new Celente thread.

Sorry I couldn't offer more, but I'm exhausted over here. Take care friend.

[edit on 23-4-2010 by OBE1]

Originally posted by dampnickers

People shouldn't be driving big gas guzzling cars then.

Agreed. I also endorse motorcycles and mopeds.

My motor gets around 50mpg. What do American cars get? 10-12 mpg?

American's don't all buy American cars, or even close. Personally, I won't buy and American car made after 1979.

If Americans weren't so greedy and egotistical, they'd have built cities that were much more closely knit, just as in the "old world". It's easy to navigate a town or city on foot when it isn't all spread out over vast and unnecessary distances. It's even better with a properly built, funded and used mass transit system.

Well, that's not entirely fair (although I tend to agree). There is more to it, much more than I think you'd probably care to discuss, but I'm willing if you'd like to get deeper into it.

Better yet, they would have built and maintained railways that allowed free travel.... instead, they were all torn out in favour of everyone having a big, expensive and unefficient car....

Hmm, having grown up a fair portion in Europe, I have a love of rail travel and find our rail system terribly pathetic (and that's being nice). The issue is speed and cost, both which are bad at the moment.

America is a much different landscape than Europe, Japan, etc. We also have 48 different governments controlling rail rather than one central government with a fairly small landmass and relatively small population.

How blind, arrogant and egotisitcal.

Peace.

While I'm the first to say that America can not be judged so simply, I'll also say that idiocy is alive and well in the world. America is no exception.

Pragmatism is the punchline of cocktail parties in Washington DC.

Peace
KJ

reply to post by Xcouncil=wisdom


For what its worth, I cannot see this GOM blowout and subsequent explosion incident affecting the price of oil since it was a drilling (exploration) loss and not a major production loss. The only thing that will be affected is BP's share price as they are responsible for the well plug and clean up and this will cost them dearly.

PEACE,
RK

I'm not suggesting in anyway this will ACTUALLY have a direct effect on production nor price.
I am saying for certain, this will be USED as PROPAGANDA by the oil companies later on this year when they are enjoying inflated oil prices...
And as this spill is getting so much exposure in the MSM...they will know it will still be in our minds when they say "due to setbacks, supply is short", they'll site this incident, and the one in Washington, whatever others may come up shortly...knowing we will remember them.

Say unlike things that get swept under the rug because they are not part of the big plan...ya know, like the sinking of the S Korean ship by the North Koreans... www.abovetopsecret.com...
"Nothing to see here poeple please move along, come look at this oil spill instead, its gonna cost ya"