Investment

» lcha - Morfe on ethanol

I moved this discussion to this thread from the global warming thread to stay on topic.

"The United States' Department of Energy is stating that corn based fuel is not the future. From the article, "I'm not going to predict what the price of corn is going to do, but I will tell you the future of biofuels is not based on corn," U.S. Deputy Energy Secretary Clay Sell said in an interview. Output of U.S. ethanol, which is mostly made from corn, is expected to jump in 2007 from 5.6 billion gallons per year to 8 billion gpy, as nearly 80 bio-refineries sprout up. In related news, Fidel Castro is blasting the production of corn fuel as a blatant waste of food that would otherwise feed 3 billion people who will die of hunger."
http://www.reuters.com/article/scienceNe...
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Lcha here:
This whole ethanol thing is a really BIG deal. We are pouring billions of dollars into building a huge ethanol infrastructure. An infrastructure that can not sustain itself without government subsidies. It is nothing but Midwest agriculture pork barrel politics run amuck. If our existing exploration companies thought they could just grow oil efficiently they would not be drilling 20,000 foot holes in the ground or creating multi-billion dollar platforms in 5000 feet of hurricane attracting water.

-- posted by lcha

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» s2109 - Price point for XLE

What buy/sell price point are you looking at for XLE or should one look at oil barrel prices?

-- posted by s2109

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» lcha - Crop Prices Soar

Crop Prices Soar,
Pushing Up Cost
Of Food Globally

New Demand for Biofuels
Feeds Inflation Pressure;
China, India Feel Pinch

By PATRICK BARTA
April 9, 2007; Page A1

Soaring prices for farm goods, driven in part by demand for crop-based fuels, are pushing up the price of food world-wide and unleashing a new source of inflationary pressure.

The rise in food prices is already causing distress among consumers in some parts of the world -- especially relatively poor nations like India and China. If the trend gathers momentum, it could contribute to slower global growth by forcing consumers to spend less on other items or spurring central banks to fight inflation by raising interest rates.

Lcha here: This is in today's Wall Street Journal. I don't want to post the article because of copyright issues the Journal has brought up here.

-- posted by lcha

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» axolotl - CATO INSTITUTE REPORT - NO PEAK OIL

A recent Cato Institute report basically said that peak oil has not arrived and is not imminent. I haven't read it but I think that there may be a kind of man made peak oil situation taking place with Chavez in Venezuela and other OPEC national oil co.s not producing the amount of oil that could be produced. Exxon is on the verge of leaving Venezuela and the Chinese oil co. there has a poor record of production. OPEC is a cartel that tries to thwart the free market, but they may be spurring alternative energy sources.

-- posted by axolotl

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» maybear3 - Charlie Maxwell

In response to Boone Pickens "Never see $50 oil again" posted by Kirk:
Several months back, Charlie Maxwell was a guest on Moneytalk and Bob asked him if he still held to his prediction of oil prices in the 50s to 70s. I could't hear his answer since I had to run off for an appointment.

Did anyone listen to that interview? Did he still stick with a price cap in the 70s, or did he suggest more like $100 oil?

Thanks

-- posted by maybear3

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» lcha - Boone Pickens "Never see $50 oil again"

In response to Boone Pickens "Never see $50 oil again" posted by Kirk:

Boone Pickens was just on "Wall Street Journal Report with Maria Bartiromo."
.
He said demand for oil will be 86M barrels (per day) and the world production capability is only 85M so he said "I'll NEVER see $50 oil again" and he thinks we'll see the old record of $78 later on this year.

I guess "later this year" meant next month.

-- posted by lcha

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» Normxxx - Hard Assets

Up and Down Wall street: Hard Assets

http://normxxxruminates.blogspot.com/200...

-- posted by Normxxx

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» Normxxx - Oil, Oil, Everywhere, Nor Any A Drop To Burn..

Oil, Oil, Everywhere, Nor Any A Drop To Burn..

LCHA: WE DEARLY NEED YOUR OPINION ON THIS!

Report On The Press Conference To Launch The Report by The Energy Watch Group, which is called the "Crude Oil Supply Outlook".

An alarming new peak oil report just released to the media. NOTE: this Report has the imprimatur of the German government.

http://normxxxruminates.blogspot.com/200...

-- posted by Normxxx

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» permabear - "Super-spike" could lift oil to $200: Goldman

http://www.reuters.com/article/businessN...
"Super-spike" could lift oil to $200: Goldman
Tue May 6, 2008 12:07pm EDT

LONDON (Reuters) - Oil could shoot up to $200 within the next two years as part of a "super-spike" driven by poor growth in oil supplies, investment bank Goldman Sachs (GS.N: Quote, Profile, Research) said in a research note.

"We believe the current energy crisis may be coming to a head, as a lack of adequate supply growth is becoming apparent," Goldman said in the note made available to Reuters on Tuesday.

Oil hit a new record near $121 a barrel on Tuesday, continuing an advance which has seen it double over the past 12 months.

"The possibility of $150-$200 per barrel seems increasingly likely over the next 6-24 months, though predicting the ultimate peak in oil prices as well as the remaining duration of the upcycle remains a major uncertainty," Goldman said.

continued...

-- posted by permabear

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» Normxxx - Watching For Round Two

Watching Ringside For Round Two

http://normxxx.blogspot.com/2008/05/watc...

-- posted by Normxxx

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