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| The Scuppers This is a new forum for the not necessarily fishing related topics... |
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11-07-2007, 07:40 AM
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#1
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Wipe My Bottom
Join Date: Sep 2006
Posts: 1,911
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crude oil @ $98/bbl now.
$100 is not so far-fetched anymore.
$4-$5 gas is in the cards.
I shudder to think what heating oil will do this winter. |
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11-07-2007, 08:13 AM
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#2
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BigFish Bait Co.
Join Date: Apr 2003
Location: Hanover
Posts: 23,392
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We are so screwed right now!  |
Almost time to get our fish on!!! 
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11-07-2007, 09:55 AM
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#3
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Registered User
Join Date: Apr 2001
Location: Uh, in a spot....
Posts: 5,451
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Home heating oil delivered on Cape today, $ 3.05 p/gal. 
I wish I ownd a sweatshirt/sweater and heavy sock company right now. |
Why even try......... 
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11-07-2007, 10:08 AM
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#4
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Registered User
Join Date: Nov 2003
Location: RI
Posts: 21,501
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They're already predicting an emergency situation forming with the projected price of heating oil this winter. A lot of people are going to be left out in the cold.
It wasn't all that long ago when Conservative pundits were laughing at the alarmists when oil prices temporarily fell on the last run up to 100. I wonder if they're laughing now?
Considering I just dropped nearly 1600 dollars on airfare to fly my family to Iowa for Christmas, this isn't going to help the bank account much 
-spence |
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11-07-2007, 10:30 AM
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#5
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What was that!?!
Join Date: May 2005
Location: East Kingston, NH
Posts: 3,108
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32 degrees this morning and we didnt turn the heat on. yea its cold... but every day we don't use it now is more money in our pocket for when we REALLY need it.
sucks.
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11-07-2007, 10:32 AM
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#6
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Wipe My Bottom
Join Date: Sep 2006
Posts: 1,911
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Quote:
Originally Posted by spence
It wasn't all that long ago when Conservative pundits were laughing at the alarmists when oil prices temporarily fell on the last run up to 100. I wonder if they're laughing now?
-spence
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did i miss something? which "pundits" were poo-pooing $100 oil? |
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11-07-2007, 11:54 AM
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#7
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Registered User
Join Date: Nov 2003
Location: RI
Posts: 21,501
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Quote:
Originally Posted by fishpoopoo
did i miss something? which "pundits" were poo-pooing $100 oil?
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Back when the last big run up subsided all the Conservative whack jobs were laughing at the alarmists crying that the sky was falling and that we should be doing something about it.
Well, here we are again...
-spence |
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11-07-2007, 12:49 PM
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#8
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Keep The Change
Join Date: Oct 2000
Location: The Road to Serfdom
Posts: 3,275
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I just saw $107. Gonna be a long winter...
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“It’s not up to the courts to invent new minorities that get special protections,” Antonin Scalia
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11-07-2007, 01:17 PM
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#9
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Wipe My Bottom
Join Date: Sep 2006
Posts: 1,911
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Quote:
Originally Posted by spence
Back when the last big run up subsided all the Conservative whack jobs were laughing at the alarmists crying that the sky was falling and that we should be doing something about it.
Well, here we are again...
-spence
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links, cites? |
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11-07-2007, 02:40 PM
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#10
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Registered User
Join Date: Jun 2007
Location: North Cambridge, MA
Posts: 1,358
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Quote:
Originally Posted by MrHunters
32 degrees this morning and we didnt turn the heat on. yea its cold... but every day we don't use it now is more money in our pocket for when we REALLY need it.
sucks.
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My roomate is so soft. I feel like you do, I don't need the heat, I can handle it at night when I'm wrapped up, extra blankets are all I need. I wake up at 4am sweating. My roomate has the thermostat on 75. That softy, I feel like making him sleep outside... |
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11-07-2007, 03:15 PM
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#11
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Registered User
Join Date: Nov 2003
Location: RI
Posts: 21,501
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Quote:
Originally Posted by fishpoopoo
links, cites?
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Don't need to do a research project.
From the usual suspects would this suprise you?
-spence |
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11-07-2007, 03:25 PM
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#12
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Registered User
Join Date: May 2004
Location: South of Boston
Posts: 2,605
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I'm counting on global warming to keep my bills down. Al Gore's fear campaign can't be wrong can it? Home heating oil prices will be a thing of the past soon. The earth has a fever remember?  |
The charm of fishing is that it is the pursuit of what is elusive but attainable, a perpetual series of occasions for hope. ~John Buchan
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11-07-2007, 04:13 PM
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#13
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Wipe My Bottom
Join Date: Sep 2006
Posts: 1,911
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Quote:
Originally Posted by spence
Don't need to do a research project.
From the usual suspects would this suprise you?
-spence
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without proper context, i won't comment. |
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11-07-2007, 04:23 PM
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#14
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Registered User
Join Date: Nov 2003
Location: RI
Posts: 21,501
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You're got a creative mine, I'm sure you can visualize 
How about that market today? How about that Dollar? 
-spence |
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11-07-2007, 04:29 PM
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#15
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Registered User
Join Date: Sep 2001
Posts: 7,649
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"They" are now talking $300/barrel as a realistic target. Honestly, this is what is keeping me from buying a larger boat.The boating industry is about to go belly up (again) if this continues much longer.
Hybrid power boats don't seem to be on the drawing board.  |
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11-07-2007, 04:47 PM
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#16
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Wipe My Bottom
Join Date: Sep 2006
Posts: 1,911
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Quote:
Originally Posted by spence
How about that market today? How about that Dollar?
-spence |
Well, I've been loudly bellyaching about the USD over at SOL for so long now, I can't remember when I started jumping up and down and yammering about it. Since I'm banned from the Tavern and the PG, I won't be yammering for a while there.
What's actionable?
1) Move to Europe. 
Real wealth in this unbalanced environment will be measured by tangible resources. Not increasingly worthless dollars and financial vehicles (U.S. treasury and corporate bonds and most stocks) denominated in them, they should be avoided.
2) Buy gold and gold mining stocks ... when spot gold prices correct to $750/oz. My picks: GLD (commodity ETF) and GDX (basket of gold mining stocks). Gold is a bit overdone right now. Wait until it pulls back. Other than jewelry, avoid owning physical gold within U.S. territory. I predict it will be confiscated by the government. I $hit you not. You can buy physical gold (on the interblab) and have it held in a Swiss vault if you want. Everbank.com also has a gold-linked certificate of deposit (which appreciates with the price of gold and is FDIC-insured).
3) Buy commodities. We are in a commodities supercycle. The best way for the average joe to do this is to buy commodity ETF's (which trade like stocks) like USO (crude oil) and DBC (Deutsche Bank Commodity ETF).
4) If China continues its foreign currency reserve diversification, then it's time to buy foreign currency ETF's. Wait until the dollar retraces its most recent losses, however. The dollar could temporarily strengthen as money flows back to the U.S. if U.S. investments are regarded as a safe haven and the emerging market premiums get deflated. |
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