GM bankruptcy!

[Nickdago]

Originally Posted by pinkcamaro10

I heard that north and south dakota has tons of oil.. but they said that even if we started drilling now it would be 10 years before it affected anything.

i say the sooner the better, let's start now.

a life without suv's and V8's is no life at all!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

That's liberal bunk. We can have oil up and runn'in in 3 yo 5 years. Heck, we sent a man to the moon in about 8 years and built an atomic bomb in about 3 to 4, you cant tell me if we start drilling right now we are going to have to wait 10 years for results

[chevydude26]

Originally Posted by edbrick

General motors requierments are that the battery should last 15 yrs. Nobody would purchase a vehicle that would require such an exspensive repair 3 yrs in and If we drilled for more oil we would still need more refining capacity. We need more refineries which isnt going to happen in this political climate.

I was probably thinking of the 100,000 dollar electric car...

and refineries come with the whole drilling package...and nuclear power...

the dems right now have control of congress but if we continue to make an uproar and threaten to vote those marxists out they will do what the american people want

the dems want the price of oil to stay high because they think less use of fossil fuel is good for the environment which is total bunk

[Nickdago]

Originally Posted by edbrick

General motors requierments are that the battery should last 15 yrs. Nobody would purchase a vehicle that would require such an exspensive repair 3 yrs in and If we drilled for more oil we would still need more refining capacity. We need more refineries which isnt going to happen in this political climate.

They will build new refineries if the people tell them to. People forget America belongs to us not the politicians, they do what we all tell them to do

[pinkcamaro10]

well that's just what i saw on the news! I cant prove them wrong... thats just what they said. I think it could be done a lot faster. Just imagine if for some reason we stopped getting oil from other countries. They would be drilling in a heartbeat over here.

[discoteka]

we just need to solve the problem.. and create alternate means of fuel already. drilling will just postpone it..IMO anyway

[DGthe3]

There is a lot of stuff here that can be a bit misleading. Price of oil and cost of oil are different things. The cost of oil is how much it costs to extract it and refine it, this doesn't change too much day to day, or month to month. The price of oil is determined by too many factors to list. Basically it combines supply, demand, and speculation on what those two will do in the near future. It probably includes greed too.

So, drilling for more oil won't reduce the cost of oil until the entire operation can come on line which will take years. Is 10 too many? probably. 5 sounds too short. But the act of announcing that the supply will increase - that will reduce the price immediately.

A similar disconnect between facts and reality happens on the stock market. People don't trade rationally, they trade to make money and to avoid losing money. The price of a stock reflects not on how the company is doing, but how people feel that they can make money by buying that particular stock (in this case GM) and selling it in the near future at a higher price. This relationship is based partially on fact, partially on the actions of others. The facts are what gets presented by the media, regardless of what reality may be. And so, when the media reports bad news prices go down. Good news and they go up. When they say that a company stock is going down and they may need to file for bankruptcy, well you can guess what investors will think then do.

And no, that is not merely my personal opinion on the matter. That is how computers are programed to trade. Search for keywords related to a company, and act (or at least advise). For GM, reports of "sales down 20%" is a giant flashing red light with a siren blazing. "Bankruptcy" is a loud speaker telling everyone to abandon ship. More or less.

Originally Posted by chevydude26

the dems right now have control of congress but if we continue to make an uproar and threaten to vote those marxists out they will do what the american people want

the dems want the price of oil to stay high because they think less use of fossil fuel is good for the environment which is total bunk

Couple things. First, while I don't follow American politics too closely, I am quite certain that the Democratic party is not Marxist or any form of communist for that matter. Secondly, as a concept communism is a good idea, and if people weren't greedy (which is a sin in christianity) it could work. Thridly, wasn't it the american people who voted them in in the first place? As I understand it, the majority of people are the ones who are supposed to get what they want in a democracy not the minority. Fourthly, do the intentions of the democrats matter as much as their results? if people use less fuel you won't have to import oil from people like Hugo Chavez. But I am going a bit off topic. If you wish to continue talking about politics, I would be glad to continue in another thread. But for now, please don't throgh out exadurations and generalizations about the politicians that your fellow citizens have voted into office.

[stovt001]

Speculators don't influence the price of oil or gas one penny because they don't actually take possession of the commodity before selling their futures.

Drilling for gas would take years and will pretty much entirely go to the Chinese and Indians anyway.

The fact is $4+ gas is changing America, and for the better. Our roads are less congested. Our air quality is better. We're commuting together. Small local businesses are getting an advantage over distant large companies. Most importantly, American businesses are developing new efficient and clean transportation and energy solutions in the greatest wave of innovation this country has seen in years. Bring on the $5 gas I say.

Fears about GM going bankrupt are far overblown, however. At the rate they're burning cash now they'll make it through 2009, and in 2010 the cost savings from the new union contracts kick in and a ton of fuel efficient new models hit the market. GM stocks are a fantastic value buy right now. When I sell my Olds a lot of that money is buying GM stock and it will make a nice down payment on my Camaro in a few years.

This is simply fear mongering to drive media viewership, support friends with short positions, and get B. Hussein Obama in the White House. Nothing more.

[shank0668]

Originally Posted by stovt001

Speculators don't influence the price of oil or gas one penny because they don't actually take possession of the commodity before selling their futures.

Drilling for gas would take years and will pretty much entirely go to the Chinese and Indians anyway.

The fact is $4+ gas is changing America, and for the better. Our roads are less congested. Our air quality is better. We're commuting together. Small local businesses are getting an advantage over distant large companies. Most importantly, American businesses are developing new efficient and clean transportation and energy solutions in the greatest wave of innovation this country has seen in years. Bring on the $5 gas I say.

Fears about GM going bankrupt are far overblown, however. At the rate they're burning cash now they'll make it through 2009, and in 2010 the cost savings from the new union contracts kick in and a ton of fuel efficient new models hit the market. GM stocks are a fantastic value buy right now. When I sell my Olds a lot of that money is buying GM stock and it will make a nice down payment on my Camaro in a few years.

This is simply fear mongering to drive media viewership, support friends with short positions, and get B. Hussein Obama in the White House. Nothing more.

do you ride a bike? $120 to fill up the hemi

[DGthe3]

Originally Posted by stovt001

Speculators don't influence the price of oil or gas one penny because they don't actually take possession of the commodity before selling their futures.
thats why I was careful to use 'speculation' not 'speculators'. Why? The price of oil goes up with tension in the middle east, with hurricane season, and so on. this is all speculation because the real effects of these events are not known because they will not happen for some unknown period of time. and yet they influence the price.

Drilling for gas would take years and will pretty much entirely go to the Chinese and Indians anyway.

no comment

The fact is $4+ gas is changing America, and for the better. Our roads are less congested. Our air quality is better. We're commuting together. Small local businesses are getting an advantage over distant large companies. Most importantly, American businesses are developing new efficient and clean transportation and energy solutions in the greatest wave of innovation this country has seen in years. Bring on the $5 gas I say.

agreed

Fears about GM going bankrupt are far overblown, however. At the rate they're burning cash now they'll make it through 2009, and in 2010 the cost savings from the new union contracts kick in and a ton of fuel efficient new models hit the market. GM stocks are a fantastic value buy right now. .
when I say that people look at me like I'm crazy

This is simply fear mongering to drive media viewership, support friends with short positions, and get B. Hussein Obama in the White House. Nothing more.
my sentiments exactly

see bold.

[Captain Awesome]

Originally Posted by Nickdago

They will build new refineries if the people tell them to. People forget America belongs to us not the politicians, they do what we all tell them to do

I heard someone saying that there were a whole bunch of refineries that were closed a while back for some reason. Why not reopen them?

[brantley847]

Originally Posted by chevydude26

the dems want the price of oil to stay high because they think less use of fossil fuel is good for the environment which is total bunk

Exactly..right up there with the comment from Al Gore who actually stated gas NEEDS to get up to 5 dollars so we will consider alternate fuels and stop relying on oil...

What a joke, we can all agree alternate fuels need to be researched and exercised, but making the rest of us suffer for what THEY see as a "positive" result is f---ing treason as far as I am concerned.

[Captain Awesome]

Originally Posted by stovt001

Speculators don't influence the price of oil or gas one penny because they don't actually take possession of the commodity before selling their futures.

Drilling for gas would take years and will pretty much entirely go to the Chinese and Indians anyway.

The fact is $4+ gas is changing America, and for the better. Our roads are less congested. Our air quality is better. We're commuting together. Small local businesses are getting an advantage over distant large companies. Most importantly, American businesses are developing new efficient and clean transportation and energy solutions in the greatest wave of innovation this country has seen in years. Bring on the $5 gas I say.

Fears about GM going bankrupt are far overblown, however. At the rate they're burning cash now they'll make it through 2009, and in 2010 the cost savings from the new union contracts kick in and a ton of fuel efficient new models hit the market. GM stocks are a fantastic value buy right now. When I sell my Olds a lot of that money is buying GM stock and it will make a nice down payment on my Camaro in a few years.

This is simply fear mongering to drive media viewership, support friends with short positions, and get B. Hussein Obama in the White House. Nothing more.

Blah blah balh.

All these fairy tales just mask the truth that the people who can least afford $5 a gallon gas get to make due without food or some other "luxury".

We have more oil under the U.S. than in the whole of Saudi Arabia. If we don't use it, then we're retards.

[stovt001]

Originally Posted by shank0668

do you ride a bike? $120 to fill up the hemi

Carpool and vanpool, actually. Its all about adapting. If you can keep your head while all others lose theirs, you'll do just fine.

[Mr Twisty]

All I got from the article was that it's a good time to buy GM stock!