Told ya so!!! Oil hit $94.18 a barrel today.

[wbtravis007]

I'll quote Archie, here, to jeemie:

"Wrong again, Maude!"

[themanintheseersuckersuit]

I also called the mortgage bust 7 years ago when all the low interest adjustibles and no interest loans made such a surge. When BiT speaks, Merrill Lynch listens.

Well, they should have, but they didn't so now Bank of America is picking them up on the cheap.

Anyway, I hope not too many people here were counting on $200 oil in their portfolios.

Also, I don't know where Bob Junch got his news that 10 platforms were destroyed. Maybe the same place he gets his news that Obama is in the lead. This article says

Early reports from emergency officials and oil companies indicated little or no severe damage to energy infrastructure -- signaling a possible quick recovery to production -- though near-term supply problems were expected.

http://news.yahoo.com/s/nm/20080915/bs_ ... ets_oil_dc

Nobody listened to Bit

New York Times Sept 11, 2003

The Bush administration today recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis a decade ago.

Under the plan, disclosed at a Congressional hearing today, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae and Freddie Mac, the government-sponsored companies that are the two largest players in the mortgage lending industry.

The new agency would have the authority, which now rests with Congress, to set one of the two capital-reserve requirements for the companies. It would exercise authority over any new lines of business. And it would determine whether the two are adequately managing the risks of their ballooning portfolios.

''These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis,'' said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. ''The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing.''

Representative Melvin L. Watt, Democrat of North Carolina, agreed.

''I don't see much other than a shell game going on here, moving something from one agency to another and in the process weakening the bargaining power of poorer families and their ability to get affordable housing,'' Mr. Watt said.

[dodgersteve182]

I think you had an unfair advantage being in Texas and all!
You just have to stick a rod in the ground and oil prices drop 50 cents per barrel! That smell of green house gases must have been from your backyard!

[littlebeast13]

I paid $3.53 at a station just outside of KC.

It was STILL $4.09 back home when I left....

lb13

[dodgersteve182]

Well hopefully you went "short" on oil around the time of your original forecast!
I was thrilled in 03 when I decided after reading an S&P Industry forecast on Oil to have bet "long" on the commodity and the industry. For the Record I have been out of oil and oil shares since the end of the 3rd Quarter of last year. No I'm not a sage like you are, I just felt that there were better growth opportunities going forward.