tag:blogger.com,1999:blog-5596379580203915255.post8083980408830479898..comments2023-05-16T02:24:23.898-07:00Comments on Dinar Douchebags: Enorrste, Math, and the RVUnknownnoreply@blogger.comBlogger4125tag:blogger.com,1999:blog-5596379580203915255.post-84336716888060060942011-12-16T17:41:32.360-08:002011-12-16T17:41:32.360-08:00And another thing! If the US auto fleet adopts LN...And another thing! If the US auto fleet adopts LNG, or electric hybrid to about double what it is now (and this will happen in 10 years or less) the US total crude oil demand will drop by 30%, even if total energy used for transportation grows by 4% a year. This would cut US oil imports by more than half, which, if China follows the example could cut global non domestic produced oil by 30-40% and may drop international oil prices back below $20 a bbl unless OPEC cuts production by a like amount. The USA has more natural gas in BTUs that Iraq and Saudi Arabia and Iraq COMBINED have in crude oil, eventually our auto industry and the domestic energy companies are going to convert the auto fleet to this resource and when that happens, the entire Middle East could become irrelevant. The smart countries in the region realize this and are working real hard to get their own economies out of dependence on oil exports.<br />What i find both amusing and alarming about the Dinar phenomenon is how simple minded the supposed "experts" are and how gullible the people who listen to them are. Any number of real economists try to explain how absurd the whole scenario is and the "dinar community" finds every way from Wednesday to dismiss it, and then they start quoting Oakie Oil Man, Adam Montana or some other guru as a trusted source.<br />My favorites are the fools at Dinar Vets who hold themselves out as the "smart ones" because they make fun of the more outrageous pumpers. In fact, they don't in substance believe any differently than the gurus, they just think the date and rate may be different. Saying they are the smartest investors of all the ones in Dinar may be true, but if it is it's still like saying they won gold medals at the Special Olympics. They are, at best, the All Star Team of Stupid.F8https://www.blogger.com/profile/17520770178618027577noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-50362180780854251792011-12-16T17:24:48.956-08:002011-12-16T17:24:48.956-08:00Oil production levels don't matter, and I'...Oil production levels don't matter, and I'll tell you why. If Iraq doubled their production, it would cause the price of oil to drop, and at that level it could fall below $50 a bbl, which would net Iraq no new revenue, but double the production costs. The world has adjusted to the current levels of production, and you can't have a major increase in supply without a like effect on price. Another "oil solves everything" lie the pumpers like to tell is how the bug RV will be paid for by the US Treasury buying Iraqi oil on the cheap and exchanging cashed in Dinar for it blah blah blah. Flaws with that fairy tale include the fact that the US Treasury doesn't buy oil, oil companies do and most of the oil in Iraq is now bought by companies that are not even US Based (BP, Citgo and Shell. Another little fly in the ointment is that the US doesn't buy much oil from Iraq now and much of what they do is used to supply the US Military mission in Iraq, which ends in 2 weeks. US refineries are set up to process very specific blends of crude oil, and you cannot run Iraqi crude through refineries set up to run Canadian, Mexican and Venezuelan raw crude. Haven't you ever heard of how much is involved every year in just converting the refineries to winter blends and such?<br />Iraq is a poor country. Don't fall for the "one of the richest nations on earth" lies, they aren't even middle class. Countries that have economies that rely on selling their natural resources are like people who have yard sales to make the rent every month, they don't produce any value added income they just sell their stuff. the "rich" nations are those that use all or most of their natural resources to run economies that produce income and have industrial and commercial bases that enable them to buy from the poor countries, whose major economic impact on the global commerce is to "sell their stuff" to the rich countries who can afford to use it.F8https://www.blogger.com/profile/17520770178618027577noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-37556972715407556572011-12-16T14:12:41.760-08:002011-12-16T14:12:41.760-08:00Thanks for visiting and commenting, Fatso. I wasn...Thanks for visiting and commenting, Fatso. I wasn't talking about the difference between a billion and a trillion. Read it again. I was talking about the difference between $182.5 billion and $1.825 trillion. To simplify, let's just say the difference between 100,000,000,000 (100 billion) and 1,000,000,000,000 (1 trillion). 100 billion has eleven zeros and 1 trillion has twelve. That's a difference of one zero.Sam I Amhttps://www.blogger.com/profile/11609519627791409673noreply@blogger.comtag:blogger.com,1999:blog-5596379580203915255.post-7501009697951642402011-12-16T13:52:15.743-08:002011-12-16T13:52:15.743-08:00Actually Sam, you are wrong and exagerating also.B...Actually Sam, you are wrong and exagerating also.But I doubt you'd admit it. You see... the difference between a Trill and a Billion is not 1 zero, it's 3 zero's . So if I had a douchie to award this week, it would go to you Sam, you'd be the Douchie of the week.Skippyhttps://www.blogger.com/profile/00986237635490594745noreply@blogger.com