Oil Prices Hit New High On Supply Fears

[Bear96]

It's unsustainable for all but the very short term, that's for sure.

 

[USA320Pilot]

Robbedagain:

Expect Delta and Northwest to file for bankruptcy between now and mid-September on a Sunday, but definately before October 18.

Furthermore, it appears more and more likely a Frank Lorenzo type of situation is developing at Northwest and AMFA and the AFA could go on strike later this month, which could trigger an immediate "formal reorganization".

Regards,

USA320Pilot

 

[Kev3188]

Robbedagain:

Expect Delta and Northwest to file for bankruptcy between now and mid-September on a Sunday, but definately before October 18.

Furthermore, it appears more and more likely a Frank Lorenzo type of situation is developing at Northwest and AMFA and the AFA could go on strike later this month, which could trigger an immediate "formal reorganization".

Regards,

USA320Pilot

[post="286737"][/post]​

F/A's at NW are PFAA.

 

[Finish or Ignore]

Justaumechanic:

As a furlouhged US Airways employee, it is clear that you are angry and bitter. Nonetheless, the creditors committee is supporting the company's POR and Disclosure Statement and probably later this week US Airways employees who will be offered employment in Arizona will likely hear the new company's policy on their move.

See Story

Regards,

USA320Pilot

[post="286638"][/post]​

Please...Don't be so sensitive...It IS possible for someone to have a different opinion than you, and, not be bitter or angry. Also, didn't the creditors support the POR in the FIRST bankruptcy? What was the result? How much was fuel then?

 

[SpinDoc]

Usair_begins_with_u:

I still believe fundamentals do not support oil prices over $50 per barrel, never mind $60 per barrel and I am not alone in that assessment. Recently on CNBC both the CEO of Exxon Mobil and Texaco said the same thing.

SpinDoc replies:

Give the man a cigar. He is ABSOLUTELY correct. Speculators
focking up the oil futures market, and they will pay dearly
when the market correction occurs in a few months.

Can anyone explain why oil futures are so high right now?
There is no rational explanation. Supply is not tight, so
there goes that rationale. Supplies are not in danger from
terrorism or other outside sources, so there goes that
rationale. It's purely greed and averice, and I for one
(and many others) will LOVE it when the market collapses
and all of these greedy fockers have their houses and
vehicles repossessed.

Enjoy the bubble while it lasts you P.O.S. speculators.

 

[PITbull]

Robbedagain:

Expect Delta and Northwest to file for bankruptcy between now and mid-September on a Sunday, but definately before October 18.

Furthermore, it appears more and more likely a Frank Lorenzo type of situation is developing at Northwest and AMFA and the AFA could go on strike later this month, which could trigger an immediate "formal reorganization".

Regards,

USA320Pilot

[post="286737"][/post]​

I think the fuel prices are going to be a major problem for all the carriers, not just the ones you cite. Anything over $60 a barrel is not sustainable, and there is no way in hell any more relief can come from labor that's for sure.

 

[USA320Pilot]

PitBull:

I agree with both of your points, in regard to other companies feeling the pain and that labor cannot sustain any more cuts.

Regards,

USA320Pilot

 

[BoeingBoy]

Can anyone explain why oil futures are so high right now?
There is no rational explanation. Supply is not tight, so
there goes that rationale. Supplies are not in danger from
terrorism or other outside sources, so there goes that
rationale.

[post="286765"][/post]​

New York Times:

"For most of the past two years, oil markets have become extremely volatile, a reflection of the lack of spare production capacity, insufficient refineries, strong demand from consumers in the United States and China, and supply disruptions from such big producers as Iraq or Venezuela."

Deborah White, senior commodities economist with Socitï Gïnïrale in Paris:

"Other than the weather, and hurricanes, and refineries going down, and Saudi Arabia and Iran, and strong economic statistics, there really is no reason why crude oil prices should be so high. It must be speculation, don't you think?"

Bloomberg:

"Terrorists in Saudi Arabia, the world's biggest oil producer, may be in the final stages of planning attacks there, the U.K. Foreign Office said yesterday."

"Iran, the Middle East's second-largest oil producer, has provoked a ``grave crisis'' by resuming uranium conversion work, French Foreign Minister Philippe Douste-Blazy said, according to Agence France-Presse."

" The U.S. yesterday shut its Embassy in Riyadh and consulates in Jeddah and Dhahran because of a threat against U.S. government buildings in Saudi Arabia. The U.K. has allowed non-essential diplomatic staff to leave the kingdom. The threats follow King Fahd's death on Aug. 1, which increased speculation about the stability of output from the region. Saudi security forces for more than two years have been battling suspected sympathizers of Osama bin Laden's al-Qaeda network, who have targeted Westerners in a bid to undermine the ruling al-Saud family and threaten the oil industry. "

" Oil prices are unlikely to fall any time soon, given the strength of the U.S. economy, the risk of more refinery shutdowns and the odds of further tropical storms disrupting supplies in the Gulf of Mexico."

Jim

 

[TheLarkAscending]

Mwereplanes:

In your eyes I may be an easy target, but in my eyes you are too. I find it interesting that you can hide behind a computer screen and insult other’s, but when privately asked to identify your self you refuse, which clearly speaks of a person who lacks courage.

<_< What complete and utter nonsense! You don't find it interesting, you find it extremely irritating and frustrating that someone won't give in to persistent badgering! Mwereplanes isn't hiding behind a computer screen, he or she is protecting their identity from all of us, not just you! He or she is completely within their rights to do so, and I am certain that 99% of all the posters here would unite in encouraging him or her to remain diligent in that effort. Hello?? Identity theft is a very real threat.

Nothing Mwereplanes has done :blink: "clearly speaks of a person who lacks courage" :blink: Mwereplanes' decision not to fork over his or her identity clearly means that he or she remains in control of their personal information.

Maybe courage is measured and defined differently in Bizarro World where syntax is choppy and everything that irritates and frustrates you becomes "interesting". "Interesting" then becomes a nagging badgerfest on the forum and in the PM systems. Maturity apparently isn't your strongest suit.

 

[delldude]

Mwereplanes:

I find it interesting that you can hide behind a computer screen and insult other’s, but when privately asked to identify your self you refuse, which clearly speaks of a person who lacks courage.



Regards,

USA320Pilot

[post="286641"][/post]​

geez when someone showed you how nice your house looks from 150 miles up you
too could have been a little nicer....

 

[usair_begins_with_u]

Give the man a cigar. He is ABSOLUTELY correct. Speculators
focking up the oil futures market, and they will pay dearly
when the market correction occurs in a few months.

The ignorance of this statement is mind boggling.. The only people who buy into this argument are the same people that think Bush won the 2004 election through wide spread voter fraud, and that the governemt is hiding aliens in air force bases. True speculators can manipulate small comodity markets in the short run. Oil is a major market, and no small groups of investors have the kind of capital it would take to effectively set the price for a comodity of that magnatude. The risk behind such a venture would be way too high in any case. Also, who are these "speculators"? If can't be people like you me, we dont have the capital. Who are these phantom speculators? I-Banks? The oil companies? Im curious as to your thoughts.

 

[jimntx]

U_b_w_U, when the conspiracy theorists are explaining the true meaning of life and everything, it is rude of you to inject logic into the argument. It just confuses the issue.

 

[jimntx]

(I posted this on the Delta forum in response to another post. However, it also fits nicely here.)

Oh, and for those who keep thinking that crude oil prices are going to start dropping any minute now...

According to the NYMEX (NY Mercantile Exchange) website at 1358EDT, the last bid for crude oil for delivery January, 2006 was $66/bbl! Last bid for Dec. 2005 was $65.40, and Feb. 2006 was $65.60. That's a pretty tight range for wild, mindless speculation.

 

[Dog Wonder]

Everything A 320 pilot has posted has been true. If he posts otherwise it is still true.

If he confuses you imagine his own confusion.

 

[robbedagain]

I think the fuel prices are going to be a major problem for all the carriers, not just the ones you cite. Anything over $60 a barrel is not sustainable, and there is no way in hell any more relief can come from labor that's for sure.

[post="286771"][/post]​

I know that many carriers are hurting but the ones I mentioned was because it has been in the news more andmore lately. how long will it be before SWA and JTBLU as well as say ALASKA and the others before they get the pinch?