Comments on: Higher Oil Prices, the New Normal http://www.dailyreckoning.com.au/higher-oil-prices-the-new-normal/2009/11/05/ An independent perspective on the Australian and global investment markets Sat, 20 Mar 2010 00:44:41 +0000 http://wordpress.org/?v=2.8 hourly 1 By: mike http://www.dailyreckoning.com.au/higher-oil-prices-the-new-normal/2009/11/05/comment-page-1/#comment-116232 mike Thu, 12 Nov 2009 02:02:08 +0000 http://www.dailyreckoning.com.au/?p=7425#comment-116232 ...can we be so sure in our belief that oil has no natural purpose...?...whether the crust of the earth be an endo- or an exoskeleton(or a little or none of both) is of some consequence when oil, perhaps the lifeblood under the earth's crust is as easy to find in arabia as slitting one's wrists... ...can we be so sure in our belief that oil has no natural purpose...?...whether the crust of the earth be an endo- or an exoskeleton(or a little or none of both) is of some consequence when oil, perhaps the lifeblood under the earth's crust is as easy to find in arabia as slitting one's wrists...

]]> By: prozak http://www.dailyreckoning.com.au/higher-oil-prices-the-new-normal/2009/11/05/comment-page-1/#comment-115312 prozak Fri, 06 Nov 2009 09:47:46 +0000 http://www.dailyreckoning.com.au/?p=7425#comment-115312 According to GS ? Well we can trust them can't we? The only reason they see OIL up is because they are LONG. The only reason in 2008 they called for $200 OIL was because they gamed the OIL market. They knew SEMGROUP were massivley short... GS then got hold of SEMGROUP's position book (C & MER also had access) and as they say that was "game set and match". SEMGROUP went bust with about 2.5B trading losses. BARC picked up SEMGROUPS book for a song (also making a shed load of money) and the game was over for GS... either because barclays were in on it, or had loads of cash so short squeeze was not going to be as effective or just because they BARC were "one of the boys"....... OIL then crashed. According to GS ?
Well we can trust them can't we?

The only reason they see OIL up is because they are LONG.

The only reason in 2008 they called for $200 OIL was because they gamed the OIL market.

They knew SEMGROUP were massivley short... GS then got hold of SEMGROUP's position book (C & MER also had access) and as they say that was "game set and match". SEMGROUP went bust with about 2.5B trading losses.

BARC picked up SEMGROUPS book for a song (also making a shed load of money) and the game was over for GS... either because barclays were in on it, or had loads of cash so short squeeze was not going to be as effective or just because they BARC were "one of the boys".......

OIL then crashed.

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