oil down to 39.85

[dong20]

Good long term investment ... [fresh] water (and, especially associated infrastructure).

I want 10% of what you make.

 

[Mem]

Prices are going up here. From a low of $1.65 up to $1.72

 

[midlifebear]

Well, you know of course that all of those oil leases -- both new and old -- are: 1 are not accurately priced to reflect fair market costs, 2 not being drilled at the moment, and 3 more than half are leased to companies such as British Petroleum and other non-USA-based companies. So the idea of drill baby drill, while it sounds good will do little to benefit the coffers of the US Treasury. In the same way that the majority of mining rights (I'm from Nevada where mining has saved most of central and northern Nevada during the last 15 years) are leased at bottom of the barrel prices to foreign-owned mining companies. USA-based companies have some leases, too. But more often than not they end up making their money by leasing their leases to foreign interests.


For fun, check out the trail of ownership for Rio Tinto and Neumont Mining, just to name the two largest players in the USA. Same goes for the precious black sticky stuff. The locals get temporary jobs (as in five to 10 years, which is the usual mining cycle) and then the unemployment lines get clogged once again with undereducated 'Mericuhns who were happy to make U$S35 an hour a drillin' and a haulin'. Not much need for those skills when there is no market for them during the bust times, which are more often than the booming economic times in mining, oil, and gas.