Crude Awakening

[Nordmadr]

Crude awakening
Stock futures slump as oil flirts with record prices; earnings, good corporate news overshadowed.
April 11, 2006: 6:58 AM EDT


NEW YORK (CNNMoney.com) - Stocks looked set to slump early Tuesday as oil prices, racing towards a new record high, overcrowded a spate of mostly sunny corporate news.

U.S. stock futures were down in early trading, indicating a lower opening for stocks.

Oil prices pushed past the $69 mark in overnight trade after gaining $1.35, or 2 percent, Monday.

U.S. light crude for May delivery rose 58 cents to $69.32 a barrel in early electronic trade, putting oil within reach of its all-time record trading high of $70.85 set Aug. 30 in the wake of Hurricane Katrina.


http://money.cnn.com/2006/04/11/markets/stockswatch/index.htm?cnn=yes

I know I harp on this all the time, but that is because in my view it is the biggest dilemma we are currently facing, and explains much of what is going on in the world. Life as we know it is about to undergo a tremedous shift. How will we shape it? The American way of life is going the way of the Dodo.

If one person is made more aware by my repetitious peak oil posts, then I have accomplished something. It scares the hell out of me, yet as a society, we march blindly on.

Olafr

[lonestarnot]

1. Keep fighting!

[TAPat]

2. I'm with you...

I look *forward* to Stock Market Watch every morning and the info you post there.
Thanks & know that your words are falling on my receptive ears. :hi:

[murray hill farm]

3. Love your peace sign...

Still a great idea...that peace stuff!! I wish i could see the peace sign revived more today...and in more use.

[TAPat]

12. Thanks -

I recently purchased a number of great peace sign things from http://www.peacebuttons.info/
Great site and great stuff! :hi:

[Nordmadr]

10. You sure you aren't mixing me up with someone else?

:)

Though I often post a reply to something without noting which forum it is in. Thanks for the encouragement. Feels pretty lonely in my persepctive sometimes. I see so many other things discussed that I believe are very important, but will be totally moot when people are simply trying to re-learn how to survive.

Olafr

[TAPat]

11. Guess I am! Whoops!

I still appreciate your posts though! :toast:

[Nordmadr]

14. Cheers back at you!!...and thanks.

:toast:

:pals:

Olafr

[Crankie Avalon]

4. GOLD $600 AN OUNCE/25 YEAR HIGH!!!

Thanks for your posts. K&R.

[Nordmadr]

5. Last night my wife and I puchased a Troy-Bilt garden tiller

for my expanding herbicide-pesticide free garden. I'll be able to use it as long as I have oil and gas to put in it.

In the last two years I have planted approximately 20 trees on my one acre parcel and have stopped mowing about 1/4 of it to let it go "back to nature". While I plan to purchase a larger piece of property as time, money, and availability permits. I figure someone will eventually get the benefit on this piece. It also has a mature apple tree, and three blueberry bushes.

I see localized economies with barter and trade systems in the not so distant future, assuming we can get through the government transitional plans of marshall law and stomping down of the average Joe while the rich stick it to us.

I'm really hoping to get set-up with a passive solar home, utilizing a wind turbine for some energy needs.

Like sands through the hour glass, so are the days of our lives.

Olafr

[Squatch]

6. Price elasticity of demand for consumer oil is extremely inelastic

because there are no viable substitute goods.

We're absolutely stuck with oil.

[leeroysphitz]

7. Keep POSTING.

People need to get the message. Anyone who is not able to grasp that ENERGY concerns underly just about EVERY facet of our modern lives from foreign policy to a trip to the grocery store needs to educate his/ her self ASAP.

[Crankie Avalon]

8. A link in your article that deserves its own post:

Gold races past $600
Spot prices touch fresh 25-year peak on inflation jitters, Middle East tension; silver hits 23-high.
April 11, 2006: 6:50 AM EDT


LONDON (Reuters) - Gold jumped above $600 an ounce to its highest in 25 years and silver set a new 23-year peak Tuesday as funds and investors persisted in widening their exposure to surging commodities.

They poured money into precious metals to diversify their portfolios on worries about inflation, tensions in the Middle East and uncertainties over the dollar's outlook because of the U.S. trade and budget deficits, analysts said.

"At the moment, I wouldn't try to bet against the continuation of the rally," said Wolfgang Wrzesniok-Rossbach, head of precious metals marketing at Germany's Heraeus.

SNIP

The metal, a traditional hedge against uncertainties in troubled times, has risen more than 16 percent this year, 41 percent in the past 12 months and 100 percent in four years.

http://money.cnn.com/2006/04/11/markets/gold.reut/index.htm

"Gold loves misery" and it's been awfully miserable under Junior "Chimpy" Bush.

[acmejack]

9. I recognize the issue & the implications

[donkeyotay]

13. Business as usual is about to come to an abrupt end

We could do the smart thing and be proactive, or we can wait til the shit hits the fan and have a chaotic emergency. Hmmm, I wonder which route we'll chose?

Consider that if we were driving fleets of Priuses instead of SUVs how far ahead we'd be, but somehow America was convinced that it would be a better choice to drive the biggest honkin vehicle they could afford and invade Iraq for "cheap" gas.