Make some serious $$$ from the incoming Democratic administration?

Question

OK. You can currently buy crude oil futures contracts expiring in January 2010 for $71.92. Since, by then, the new Democratic administration will have exposed the Republican-backed scheme allowing oil companies to prop up their own futures prices, oil will be trading at about $20/barrel again. So buy the put options and pocket $50 bucks per contract! I swear, if I had any extra money I'd do it (though I might buy the 2011 or 2012 contracts. Us Dems ain't that smart you know. Might take the new administration a few years to figure out the obvious).

You know people, either I'm right or I'm wrong. But I am aware of all the factors that drive oil prices, and I am aware that the current price spike, which began in earnest in 2002, appeared from no where and will fade to no where. Statistically, it can easily be argued that it (the spike) is a pure artifact of human manipulation of the futures markets. Whenever any scam is going on, there are always all kinds of ignorant analysts and apologists who want to sound smart by talking up the excuses. Anyone remember the NEW economy of the dotcom era? Anyone remember how the NEW economy was replacing the anachronistic economics laws of the OLD economy? Anyone remember all that bull? The excuses for the surrent spike in oil prices are pure bull as well. It's all simple manipulation of the futures markets. Exxon/Mobil has enough money to do it and so does the US government. Which is responsible? I don't know. Probably both...

Answer 1

OMG buy thru another Clinton and wait for Jeb Bush in 2013? As if we will have a planet left anyway.
If Americans only knew the amount of geo thermal resources and even oil we have here it would shock you. Much in the slate like in Utah and the oil ? In them Arkansas hills where Bubba was trying to build.
I loved the commentary. Thanks. I feel if we depend on foreign fuel we can only except the losses.

Answer 2

lol, where DO you get your information?

Oil prices are high everywhere. In fact, the US has some of the lowest because of SUBSIDIES. Oil companies are not propping up prices, if anything they are lowering them here. In conclusion, you need to stop trolling or post facts so we can show you in the right direction. Oil is never going below $50 a barrel ever again with demand where it is. It's simple economics. The world's population and demand for oil have reached a point where the price can't go down.

Answer 3

Following US bombing raids of Revolutionary Guard/Qud bases all over Iran sometime between tomorrow and January 2009, Iran will blocade the Persian Gulf and every oil producing nation in the middle east will cut our supply. Venezuela too. I can't imagine what that would do to 2010 futures contracts, but oil could become "priceless"

Answer 4

ummm... I think I'm reading this wrong.
Guess not.

Your trying ot say buy oil today at $71.92 and sell in the future when the price drops to $20. If i did that I would be losing $50, not gaining. I think I'll wait until the democratic administration takes over and buy at $20 and hold on to it until a republican oil man from Texas takes over again.

Answer 5

Yes, defy all knowledge of economics and bet on this deal. Your statement shows you have NO understanding on what drives oil prices.

Oil companies make a better profit percentage when oil prices are down.

Answer 6

I bought oil futures at 38 dollars a barrel, I took out of my 401k (10,000 dollars) now I have about 40,000 profit.

Answer 7

And compound your profits by buying back the USDollar after it's 7 year tumble.

Answer 8

Let me know how that works out for you.
Bwwahhh.

Answer 9

Are you willing to guarantee this?