</font><font color="blue" class="small">( Pete, do you really think there has been abusive dialog in this thread?)</font>
I think I have a pretty thick skin, but it's hard not to take this kind of stuff a little personally (quoted from post # 712447 in this very thread, above):
“I can't print what I would like to see happen to the oil industry. It would get in in big trouble probably as a terrorist.”
How would you feel if someone posted that here about the computer/IT business?
</font><font color="blue" class="small">( Or was that a more general comment towards this topic?)</font>
Actually, this is more the case; I had engaged in some civilized (I thought) discussion in some other threads, where I sought to defend my chosen career and industry against what I felt were unjust and mis-informed opinions, and attempted to back up my opinions with facts and links to web sites where those facts could be examined by others. But it wasn't doing very many people much good I guess, because one whole thread was deleted in toto by the moderators with no notice or explanation.
Bottom line is, it's not tractor-related (enough) and this is not the right forum to discuss something that emotionally-charged for some people, so I won't any more. And as I pointed out in another thread, I really don't have the time to do that kind of research and posting here - I'm self-employed so I don't get paid unless I do something of value like find more oil.
</font><font color="blue" class="small">( By no means did I set out to offend, if I did... I guess you may not even rspond since you're likely not reading this anymore... )</font>
No, you didn't offend me Arthur, but I appreciate the sentiment anyway.
</font><font color="blue" class="small">( but, since you are a geologist, would you concur that the oil stocks have reached their final height and will now quickly decline? Do you think that the price of oil/gas/etc is going up so that these companies can make their last huge profits (I read that this is what happened in the '80s when production jumped..)?)</font>
Since you ask, I'll respond this one time but maybe after this we should take it to PM's if it goes further.
Yes, I believe that U.S. crude oil production peaked in the early 1970's and has declined ever since, and that world production will peak soon if it hasn't already. In my opinion, this means that energy prices of all kinds are bound to continue to rise, and that we are headed for an energy crisis much more dire than what we experienced after the 1973 and 1979 arab oil embargoes. Prices went up then (higher than now, when adjusted for inflation) because demand in this country exceeded supply.
When foreign imports were restored and supply caught up with demand, prices went back down again. If the oil companies were manipulating the market and causing the shortages and high prices for their own greed (as some have suggested), does anyone think they would stop doing it if it really worked? But on an emotional issue that hits people's pocket books, reason and logic (and the truth) do not always prevail.
I think that prices are going up now because demand for these commodities is exceeding supply again. I believe however that oil companies (like any other type of business) have an obligation to maximize profits and return for their owners, the shareholders. My stock picks quoted above are simply my way of saying (as I have before) that if anyone thinks oil companies are greedy or making too much money, then they should buy their stock(s) and own a piece of them and profit the same as the rest of the mom and pop small investors that make up the majority of oil company stock owners.
Arthur, thanks for your interest and intelligent conversation.
Pete
