Oil gushes to $137.00/Barrel

[Londoner]

Oil passes $122 on $200 oil prediction on supply concern and Fannie Mae, one of the biggest USA mortgage bank, reported loses of $2.2Billion in the first quarter of this year. This caused the dow30 to lose 108 by 9:50 USA Eastern time. It is interesting now these serious news have a minimum bearing on market drive, stock exchange. By 12:15pm Dow30 and the rest of USA indices recovered all their loses and they were in the positive territory. Before news like these used to shake the market.

http://biz.yahoo.com/ap/080506/oil_prices.html

[Londoner]

http://biz.yahoo.com/ap/080509/oil_prices.html

[Londoner]

http://biz.yahoo.com/ap/080516/oil_prices.html

Even more important, the traders placing the bets expect prices to just keep moving higher.
Goldman Sachs, one of the world's most influential investment banks, underscored that sentiment Friday when it hiked its oil price forecast for the second half of the year to $141 a barrel, up from $107 previously. Analysts at the bank argue that the oil market is undergoing a "structural repricing" that will continue to play out for some time to come.

[Londoner]

Oil hits $135.00/barrel

http://biz.yahoo.com/ap/080521/wall_street.html

[Savy]

Some analysts say it will go up as high as 200 dollars per barrel in 2009. A likely attack on Iran will surely skyrocket the oil prices. Good news for Iraq; high oil revenues may help the country to pull herself together and heal the war wounds.

[Vladimir]

That would be horrific. They need to find an alternative for oil:S.

[Londoner]

That would be horrific. They need to find an alternative for oil:S.

They have already started it with the increase of corn production, from which engine fuel can be derived but it takes time. They can not stop the harm of oil price increase by the time they produce enough. The accelerated work to increase corn production to produce engine fuel, could cause a unique economic revolution in the third world. Because of the competitive labour in the 3rd world and availabiltiy of land, huge amounts of capital is going to be invested in the 3rd world to produce corn, This will bring fair prosperity in these countries. Oil companies will also benefit alot. They can use their digging technology to dig water walls every where and deep in the ground. The water they discover is going to be a lot more profitable than oil.

[Savy]

For corn production agrarian fields have to be spared instead of food production. It will cause food prices increase. Double-edged sword.

[Vladimir]

And we already experienced that last month..

[Londoner]

For corn production agrarian fields have to be spared instead of food production. It will cause food prices increase. Double-edged sword.

That shouldn't happen. New lands could be prepared from desert for example . But most probably, this product, corn, will be produced inside special buildings. In this way, you can control inside environmentally to grow the product all the year round. In this case, you have to use artificial light, which means you eleminate night time. so the product grows 24 hours.

[Londoner]

Oil gushes by around $10.00 to $137.00/b

http://finance.yahoo.com/

[Londoner]

Oil gushes by around $10.00 to $137.00/b

http://finance.yahoo.com/

Now it is almpst $140/b.

Dow jones of 30 usa lagerst industries loses 375 points ten minutes before closing bell, 411 pointa the closing bell..

http://biz.yahoo.com/ap/080606/oil_prices.html