If You Thought $4 a Gallon Was Bad....

Quote:

Originally Posted by Rick

Hokey smokes, folks. Take some time and read if you please. Hopeak did a nice job explaining the price increase on fuel in another thread. It's all about future's bidding. As long as speculators are bidding 100+ a barrel it's going to remain high. That bidding can not hold it's momentum. Both the U.S. and Non - Opec countries are increasing production. Even the Saudi's agreed to increase production.

Bragg - Hyperinflation? Are you kidding? May numbers obviously aren't out yet but April was at 4.94%. The third straight month it's gone down.

To take this even further, the U.S. strategic reserve is about 570 million barrels. If things get as bad as everyone on here professes, the government would release some measure of that to the open market so everyone has enough oil for heat, etc. That's exactly what they did in 2000 by putting 30 million barrels into the market.

The great American Military machine? I remember when the military machine wasn't highly thought of and our men and women lacked equipment and training because of it. I'll bet many on here served during that time. I don't ever want to go back to that. I want those protecting me (and Canada by the way) to have the best training and equipment possible. I'm not Joe sixpack so you can call me Sheeple Rick.

Just how long would it take to burn up 570 million barrels, even in a mild winter at todays consumption rate? You put way too much faith in your government Sheeple Rick. :(

http://bp0.blogger.com/_89phTp_nqdg/...arrel_Trek.jpg

Not at all. I know history and I know free enterprise.

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