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It's Official - Exxon Hits Record Profits for Any Corporation Ever

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Old Feb 18, 2009 | 05:41 PM
  #361  
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Bob

I know you don't buy the conspiracy theory (and your opinion comes across as defensive at times, right or wrong)... but I'm keen to know your thoughts as to why the oil and fuel prices are so high (or low/fluctuating)? Surely you must agree that the reasons given from various sources is questionable?

IMO, the most plausible explanation that I could find is this...

First, the crucial role of the international oil exchanges in London and New York is crucial to the game. Nymex in New York and the ICE Futures in London today control global benchmark oil prices which in turn set most of the freely traded oil cargo. They do so via oil futures contracts on two grades of crude oil—West Texas Intermediate and North Sea Brent.


...


‘The tail that wags the dog’

All this is well and official. But how today’s oil prices are really determined is done by a process so opaque only a handful of major oil trading banks such as Goldman Sachs or Morgan Stanley have any idea who is buying and who selling oil futures or derivative contracts that set physical oil prices in this strange new world of “paper oil.”
http://www.globalresearch.ca/index.p...xt=va&aid=8878
If true, I wonder how many people would then start believing the conspiracy theories if, let's say, Moscow was charged with the responsibility of setting world oil prices...?

Last edited by SSbaby; Feb 18, 2009 at 05:47 PM.
Old Feb 18, 2009 | 07:38 PM
  #362  
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bossco...I'm not at home right now, so I can't tell you for sure how deep it went. If I think about it, I'll check when I get home. The "ouch" part was the cost - approximately $12k more than a standard (ie...just barely adequate) HVAC system, and about $6k more than a quality, traditional HVAC system.

SS....I'm sorry, but you know everything, so I'm not going to bother.

Bob

PS..."Centre for Research on Globalization" is what you use as your source? Nuff said.
Old Feb 18, 2009 | 08:21 PM
  #363  
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Originally Posted by Bob Cosby
SS....I'm sorry, but you know everything, so I'm not going to bother.

Bob

PS..."Centre for Research on Globalization" is what you use as your source? Nuff said.
I could tell you I don't know everything but I do question most things.

I don't know the credibility of the site but given what I've heard from various sources in the past (like Lindsay Williams) it appears to make the most sense (to me! ).

I do believe that the prices are artificially set ... over and above the economics that only the secretive few have the ability to calculate. That's why I ask you for your opinion... which you don't need to answer... but your denials just keep coming.
Old Feb 19, 2009 | 06:21 AM
  #364  
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...and coming, and coming, and coming.

And I question virtually everything. I simply completely and totally quit caring what you think or what you post. Easy.

Have a nice day.
Bob

PS....Lindsey Williams....ROFLOL.
Old Feb 19, 2009 | 08:41 AM
  #365  
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Originally Posted by Bob Cosby
On this point...and I think it is your main point...I completely and totally agree.

And btw...I just finished a house in November. It is brick, sprayed-in insulation throughout, double-pane windows (though not as good as I hoped they would be), and geothermal heat/cool (ouch - that bill hurt!).

But I like my toys too. And when the price of gas went through the roof (regardless of reason), I adjusted as much as I reasonably could to reduce my use of oil.
We're not so different. I cut back on my road-racing last year for multiple reasons... gas prices being one, but alos taking the time to spend with family was key too. We took less weekend vacations, less driving, etc. and did more things around the house together. I've spent more time restoring my old Cobra too. These were just the right things to do at the right time.

Congrats on the new home!!!
I wanted a geo-thermal system, but was unable to install. Turns out my house has a "formed foundation" as opposed to the traditional "dug-footing" foundation... we used a large excavator with a jackhammer to pound our way 5'-6' into rock for about 2 weeks. After the hammer broke for the 2nd time, the contractor begged me to allow them to stop digging and start building (this meant that my basement would not be the full 7'-8' underground). We literally framed my footings on the surface of bedrock with 2x12's, and after the 18"-wide footings cured, we started laying blocks for the basement walls. That is why my house is no deeper into the ground than it is, and that is why I could not have a geo-system. I barely have enough dirt to have grass on, and even the grass dies after a few weeks of severe heat or drought. One good thing about it... I have absolutely NO cracks or fissures in the block walls or framed walls from the house settling!

We also sprayed insulation in the attic and eaves, but the framed walls were rolled-out and stapled (by me and the wife no less). I even put R11 in the interior walls of the house to reduce room-to-room noise from TVs and washing machines, etc. There is 1" foam insulation boards between the framed walls and the brick exterior. We insulated between floors and cielings too, with the basement having a full drywall-finished cieling (for fire barrier more than looks or insulating). If anything, we may have over-insulated the house... but it's quiet, warm, and the power bills are pretty nice - even in the summer when the AC is running a bunch (which BTW, we have 2 heat pumps on completely separate systems... 1 for the basement and main floor that has a gas-pack thermostatically set to engage when outside temps go below 40*F, and the second system for the top level which has electric strip heaters for back-up. Both are 13-SEER pumps).

MY problem is that when we built, gas was much cheaper and more efficient that electric for water, cooking, etc, so we installed gas. Right now, I'd love to have another option for the gas systems in the house, as LP has gone ballistic in the last few years. It was around $.69/gal when we first installed a few years back, but now is about $2.89/gal.

Point is, I did all I could for multiple reasons... I'm not into wastefulness, I don't like throwing money away, and of course - the whole "save the environment" bit. Now I'm serving as a role-model for my kid and her friends.

As for my "conspiracy theory"... I don't get a penny from selling my POV.
I simply know how money-grubbing power-mongers are. The Lehman Bros exec that just spent $1.2-million remodelling his office and apologized on TV saying that "...looking back now he understands that it was the wrong thing to do". WTF?!?! AIG guys going on exotic holiday at the company's expense AFTER just getting bailout money? $1.6-billion of the $700-billion in bank bailout money from last fall has been given to execs as part of compensation packages?!?! Dennis Kozlowski made over $600-million in the last couple years of his tenure at Tyco, but was convicted of "smuggling" fine art into the country using company transportation systems, and evading taxation on the art that totalled about $1.2-million... and we won't discuss the $8.2-million in state income taxes he "forgot" to pay over a 7-year period. Ken Lay and the Enron boys NEVER conspired to do something unethical and create an energy crisis in California?!?! If THAT'S not manipulating supply/demand to artificially control pricing, I don't know what is. So why is it so hard to conceive that the exact same thing could not be going on with oil?

And these are just the pee-ons that we can keep our eyes on. The TRUELY powerful and wealthy don't have to be subjected to this kind of public scrutiny. They operate behind curtains and closed doors. It is simply human nature to be greedy and power-hungry, and to "control" things. They think they can make the rules because they have money/power, and some of them actually can.

What industry or government has not suffered from the sin of Human Greed? Dare we think that every person with power and money has come by it fairly and honestly, and has no intent of corruption or control?
It's not my hypothesis - I can't take any credit for it and don't want to... it's a fact.

It's OK to have any opinion we choose to... Thank goodness we live in a place where we can! But as an estudious academician who can never just take something at face-value without understanding why, when, how, and who brought it there, I find myself unable to just accept that the most powerful and wealthy people in the world are all "just good people out to make an honest buck". In fact, the more I read and learn about the history of nobility, and the passing of huge wealth, the more I refuse to accept them as just "good-hearted". My example about Prince Phillip in this thread is just one tiny example of that... he wants to be reincarnated as a killer virus so he can control the population of the world via death by disease?!?! Guess you don't need to worry about him donating to feed the hungry in Africa, huh?

I guess I don't want to be labelled as an all-out advocate for some kind of conspiracy theory, I just want to be labelled as someone who understands that power and money often corrupt and dement the minds of those who have it, and I absolutely believe that those who control the flow of oil to the world, and those who control the finances of the world are VERY likely to have this type of mental dysfunction. If they have nothing to hide, why don't they open their books and explain it once and for all, and all the skepticism will go away... I'm all about giving a fellow a fair shake.

I am not debating you - in fact, I have tried NOT to contest anything from your prior posts. I simply want to clarify my position in your eyes (at least I hope I did a little bit). I DO CARE ABOUT YOUR THOUGHTS AND OPINION... I respect you and your experiences in life... we share a lot in common... military, racing, gearheads, etc.

'nuf said.
Have a good one.
Old Feb 19, 2009 | 10:07 AM
  #366  
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Proud...no doubt there are plenty of corrupt folks in gov't, industry, and everywhere else in society. Being honest, those in gov't worry me the most, because they potentially have the power (including police power) of the state.

And you're words for me were much too kind. Take my word for it!
Old Feb 20, 2009 | 02:37 AM
  #367  
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Originally Posted by Bob Cosby
...and coming, and coming, and coming.

And I question virtually everything. I simply completely and totally quit caring what you think or what you post. Easy.

Have a nice day.
Bob

PS....Lindsey Williams....ROFLOL.
Where mere mortals just listen to the radio/TV and get the latest forecast... it is unbelievable how Lindsey can actually predict the future price of oil, hey?

On the subject of caring... I think the rest of the world doesn't think too kindly about the opinions of Texans either... for obvious reasons.
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