Special offer

Could Oil be in for a greasing?

By
Real Estate Agent with Re/Max Real Estate Limited

The extremes hit in oil has cause reason to believe that the black gold has hit a point of over done. I think that we are in for a consolidation in price, maybe down to the $75 range.  The high prices are laying on our economy and people are reconsidering how they live with this foreign invader of our wealth.  We are up to $700,000,000,000 a year of our dollars fleeing the USA to places a far. And it must stop. T. Boone Pickens is offering a plan to consider in the next 10 days or so. It will include wind and natural gas to fight back with domestically produced energy. I am happy that someone with the where with all, is working on ideas to move us in the right direction. To find a direction with energy independence and freedom from foreign oil producers, who are receiving the biggest transfer of wealth ever. We need people who are committed and passionate about this country and the future of there children.

We must stay with finding a better source of energy, no matter what the cost. What ever it is it won't be greater than 700 billion dollars a year!

In the short term technical consideration are leading to a short term decline in oil prices over the next 6 months or so. Go short here at the open tomorrow. Let's not go to sleep. We most continue to put this problem away for ever.

Richard

Visit newhomesbyRichard.com

Steven Nickens
Hawaii Life Real Estate Brokers - Wailea, HI
R(S)GRI ABR, Maui Real Estate Hawaii

Money is fleeing and hey they are also buying up America. Brand names that have been around for a long time, building in downtown New York, pretty crazy. Is any one on first base in the Gov"t.

Steve

Jul 10, 2008 03:29 PM
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Richard

 

I feel that over the long haul the oil companies will be in for the real shock as a result of the high price of fuel.

People or coming out of the woodwork with ideals to solve the problem and they will 

Good Luck

Lou

Jul 10, 2008 03:31 PM
Trey Thurmond
BCR Realtors - College Station, TX
College Station , Texas Homes

Richard

The problem is not Big American Oil Companies or investors. T. Boone fits that category. It is Opec, Venezuela and others manipulating the market. Exxon is only something like 17th in the world of Big oil companies now. I can't wait for the day when the US says " Sorry Middle East our energy needs are now taken care of. It's been nice but we no longer require your services."

 

Jul 10, 2008 03:38 PM
Richard Stabile
Re/Max Real Estate Limited - Oradell, NJ
Bergen County New Homes Builder Realtor

Yes, the movement is growing.

I wrote in an earlier blog "Do you really know what time it is"  and "Save our country, Save our world", that something good would come out these high oil prices. It is the fact that so many are pursuing a solution to it,  for now and maybe forever! 

I am moved by the passion which is building in all, to see this resolution and find a whole new dawning of our existence on this planet.

 

Richard

 

Jul 10, 2008 04:07 PM
Richard Stabile
Re/Max Real Estate Limited - Oradell, NJ
Bergen County New Homes Builder Realtor

12 hours ago Iposted this blog saying oil is topping and ready for a major correction. Oil has now hit over $147 per barrel and is back in the $144 range. I think it is here or just around the corner, in this parabolic rise in price, that oil changes it character. It finally starts its decline in dominance of our world and also it price. We have along way to go, but oil's high prices has sealed its fate. We will lessen and lessen our dependence on it.

How does this affect real estate? It will bring back confidence. Along with the washout of Fannie and Freddie. They need reorganization. This will set up real estates with a strong foundation for the future. We must get past all our old mistakes. They are not functioning properly and are burden with bad past practices.

Jul 11, 2008 04:44 AM
Sean Carroll
The Get Off Your A$$ Academy - Manhattan, NY
Real Estate Speaker and "Expert" Coach

What you say makes total sense. When this type of volatility starts to hit the market, I believe the price is ready to correct. The higher the price, the less we will want to use it, and the company or individual that contributes the best solution will start a snowball of events leading to our gradual decrease in demand for oil.

Jul 11, 2008 04:57 AM
Richard Stabile
Re/Max Real Estate Limited - Oradell, NJ
Bergen County New Homes Builder Realtor

If you noted I hit the high day right on and we have declined over $11.00 from the High.

Subscribe to my blog and you'll see how wave principle and market psychology works.

I use it in all markets, especially real estate.

 

Richard

Jul 15, 2008 05:17 AM
Richard Stabile
Re/Max Real Estate Limited - Oradell, NJ
Bergen County New Homes Builder Realtor

When I said the day oil was hitting $147.00, that it could fall to $75.00 in a consolidation. And then went on to say,over the next 6 months.

It seem far fetch to most then.

It almost has gone 1/2 way already.

 

RIchard

 

Aug 11, 2008 02:59 PM