Bush and the Democratic congress are in talks about a second stimulus check

iblazethatkush

iblazethatkush

Well-Known Member
Our economy is fucked:evil:. Now, I'm convinced they're trying to destroy the dollar, on purpose. I guess it's time to start buying Euro's:confused:
 
K

kronicsmurf

Well-Known Member
looks like they're doing a good job of it too. if bush has his way we won't be using u.s. dollars anyway we'll be using the amero? those damn stimulus checks aren't gonna go very far anyway with inflation ballooning out of control. Peace
 
medicineman

medicineman

New Member
kronicsmurf said:
looks like they're doing a good job of it too. if bush has his way we won't be using u.s. dollars anyway we'll be using the amero? those damn stimulus checks aren't gonna go very far anyway with inflation ballooning out of control. Peace
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I wish I could invest in the Amero, I believe that would double in value in short time. I do a wee bit if commodities trading, I'm holding A bundle if Iraqi Dinars in case it goes well, sort of hedgeing my bets. I was in euros but sold out and made a tidy profit, I think the euro bang is going to subside, at least I hope so. I also made a few sheckles on the Japenese Yen, but trading money is very tricky and not for the un-initiated.
 
VTXDave

VTXDave

Well-Known Member
WOOHOO! More free money! Borrowing another 80 Billion dollars from the Chinese is chump change compared to what our debt is currently. Let's keep this in focus folks, even the first "stimulus" package wouldn't have gotten off the ground without consent from Congress...a predominately "Democrat Majority" Congress at that.

Besides, our children and/or grandchildren will take care of the debt we've run up, yeah?
 
ViRedd

ViRedd

New Member
As soon as the oil speculators drown in their own gambling habit, the price of oil will plummet ... and the dollar will rebound. Purchasing oil futures on margin, with the hope that it will continue rising, is like buying real estate with no money down and using artificially low interest rates during a boom cycle with nary a thought that markets go up ... and they come down.

Vi
 
medicineman

medicineman

New Member
ViRedd said:
As soon as the oil speculators drown in their own gambling habit, the price of oil will plummet ... and the dollar will rebound. Purchasing oil futures on margin, with the hope that it will continue rising, is like buying real estate with no money down and using artificially low interest rates during a boom cycle with nary a thought that markets go up ... and they come down.

Vi
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I doubt it. Oil is not a renewable resource.
 
VTXDave

VTXDave

Well-Known Member
medicineman said:
I doubt it. Oil is not a renewable resource.
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Interestingly enough, I believe I read something awhile back that speculated that oil is still being produced within the crust of the earth. I'm not sure where I read it, but I'll have to go back and check it out. There is factual evidence of abandoned wells that were opened years later only tofind them productive again. Give me a few days and I'll see if I can dig it up.
 
VTXDave

VTXDave

Well-Known Member
OK,

It's a theory of course, but an interesting read nonetheless..
NEW OIL BEING CREATED TODAY?
About 80 miles off of the coast of Louisiana lies a mostly submerged
mountain, the top of which is known as Eugene Island. The portion
underwater is an eerie-looking, sloping tower jutting up from the depths
of the Gulf of Mexico, with deep fissures and perpendicular faults which
spontaneously spew natural gas. A significant reservoir of crude oil was
discovered nearby in the late '60s, and by 1970, a platform named Eugene
330 was busily producing about 15,000 barrels a day of high-quality crude
oil.

By the late '80s, the platform's production had slipped to less than
4,000 barrels per day, and was considered pumped out. Done. Suddenly, in
1990, production soared back to 15,000 barrels a day, and the reserves
which had been estimated at 60 million barrels in the '70s, were
recalculated at 400 million barrels. Interestingly, the measured
geological age of the new oil was quantifiably different than the oil pumped in the '70s.
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Dankdude

Dankdude

Well-Known Member
Dave when I was working on land based oil rigs in the 1980's we were capping off wells as fast as we drilled them. only now are they uncapping those wells.
 
VTXDave

VTXDave

Well-Known Member
Dankdude said:
Dave when I was working on land based oil rigs in the 1980's we were capping off wells as fast as we drilled them. only now are they uncapping those wells.
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Is it because those wells weren't good producers and now they are? Were they capped for a "rainy day" so to speak? I'm curious as I'm by no stretch of the imagination a geologist, but is there some science/fact behind that link I posted? Have you heard of this theory that the planet is still producing oil?
 
Dankdude

Dankdude

Well-Known Member
. yes, it is a routine practice in the oil industry to cap wells for a rainy day (wait for prices to rise) but as to your article yes I think that as plant material and bodies from the past decompose I think that more oil is produced, but no on par with consumption.
Also They pump water into oil wells (both land based and off shore) to push more oil out of the wells. Also there are chemicals that they pump down in those same wells and leave alone for a period of time that loosens the oil that is stuck in the rocks and shale pockets in the area. They later come back and pump more water down the well and push the oil back up.

Now I do think we should drill in the Arctic National Wildlife Refuge as there is a huge oil deposit there and I don't know what the Environmentalist are talking about it spoiling the natural beauty as the pictures I have seen of the place looks like the surface of the moon.

Look at it this way, if you were to put up a map of the area it would take up a whole wall of your house, the purposed drilling sight would be about the size of a postage stamp on that map.
 
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