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View Diary: Koch Brothers to Obama: This time it's Personal (167 comments)

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  •  You never got back to me on (1+ / 0-)
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    why the graphs of oil supply and price have a correlation  close to zero.

    We are the principled ones, remember? We don't get to use the black hats' tricks even when it would benefit us. Political Compass: -6.88, -6.41

    by bmcphail on Sun Mar 04, 2012 at 07:46:33 PM PST

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    •  check it out: (1+ / 0-)
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      from the oil drum

      plot of price v supply

      to raise supply price has to rise.

      An ambulance can only go so fast - Neil Young

      by mightymouse on Mon Mar 05, 2012 at 03:31:48 AM PST

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      •  interesting chart, thanks mightymouse (1+ / 0-)
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        almost looks like a "random walk"

        except for the general (weak) upward correlations

        between Global Supply and Benchmark Price.

        Must be a lot more variables at work,

        than just American Drivers, curbing our driving.

        What is necessary to change a person is to change his awareness of himself.
        -- Maslow ...... my list.

        by jamess on Mon Mar 05, 2012 at 06:00:13 AM PST

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        •  slope changed after 2004 (0+ / 0-)

          pre-2004 price was relatively constant. After that, price had to rise to get more supply.

          My interpretation is that pre 2004 the world had easily accessible and cheap-to-bring-online capacity. After that, no.

          Just watched a video on fracking for shale oil in N Dakota. One of the people pointed out that this would remain a big deal "as long as prices stay above a certain point."

          These technologies only make sense with expensive oil.

          An ambulance can only go so fast - Neil Young

          by mightymouse on Mon Mar 05, 2012 at 06:07:22 AM PST

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