PeakOil is You
Re: Another Oil price Record
Re: Another Record
by emersonbiggins » Thu 20 Mar 2008, 16:13:04
Oil doesn't seem to like double-digits much anymore - back up @ $101.80/bbl.
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Re: Another Record
by Bas » Thu 20 Mar 2008, 16:26:03
$this->bbcode_second_pass_quote('emersonbiggins', 'O')il doesn't seem to like double-digits much anymore - back up @ $101.80/bbl.
get ready for the "traditional" runup to the summer I'd say.
- Bas
Re: Another Record
by Revi » Thu 20 Mar 2008, 21:51:55
I wish I could buy my heating oil during these dips. If it gets down to around $90 again I think I'll try to pre-buy.
It didn't stay below $100 for long today!
It didn't stay below $100 for long today!
Deep in the mud and slime of things, even there, something sings.
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Re: Another Record
by sameu » Sun 23 Mar 2008, 13:31:19
$this->bbcode_second_pass_quote('therealtruth', 'I') wasn't predicting the day to day moves of the market! I'm saying that in the immediate short-term, oil prices are coming down. As you can see, the funds are liquidating. I said this 2 days ago!! I'm telling everyone to stay out of crude oil because the fundamentals in reality isn't strong enought to justify $100 crude, maybe $80 but definitely not $100. Even when you factor in the devaluation of the dollar and the potential risks still out there that might not have been factored into the price, anything above $80 is excessive!
the price is what it is and not what it should be
if this price is not supported by the fundamentals; it soon will drop to whatever price it is that's supported by the fundamentals
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Re: Another Record
by emersonbiggins » Wed 26 Mar 2008, 16:53:23
Oil on a $4 tear today, back up to $105.94/bbl.
On a related note, US$ is headed deeper into the abyss - 71.6.
On a related note, US$ is headed deeper into the abyss - 71.6.
"It's called the American Dream because you'd have to be asleep to believe it."
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Re: Another Record
by DantesPeak » Wed 26 Mar 2008, 17:41:36
Again I would like to point out that the bottleneck in the worldwide crude oil to oil product consumer delivery system, that production of diesel (or lack thereof) is what’s driving oil prices higher.
Diesel inventories worldwide are still running down, as seen in today’s US inventory report, and apparently some oil traders are starting to figure out that just looking US demand figures for diesel doesn’t give the whole picture of what’s happening throughout the world.
Also the falling value of the dollar has in no small part contributed to the rise in the price of oil in terms of US dollars.
Diesel inventories worldwide are still running down, as seen in today’s US inventory report, and apparently some oil traders are starting to figure out that just looking US demand figures for diesel doesn’t give the whole picture of what’s happening throughout the world.
Also the falling value of the dollar has in no small part contributed to the rise in the price of oil in terms of US dollars.
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Re: Another Record
by Zardoz » Mon 07 Apr 2008, 13:33:13
"Thank you for attending the oil age. We're going to scrape what we can out of these tar pits in Alberta and then shut down the machines and turn out the lights. Goodnight." - seldom_seen
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Re: Another Record
by Zardoz » Mon 07 Apr 2008, 20:59:35
Here's a real shocker:
IEA Chief Energy Economist Birol Says Oil Prices to Stay High
$this->bbcode_second_pass_quote('', 'W')orld oil prices are likely to remain high "for many years to come'' as demand increases and national oil companies lack an incentive to increase production, the chief economist of the International Energy Agency said.
"The current drivers of demand are different'' while higher oil prices no longer represent "an incentive'' to produce more oil, Fatih Birol said at a seminar in Brussels today. Resource-rich nations and their national oil companies get enough revenue and see no need to increase production to ease prices, he added.
IEA Chief Energy Economist Birol Says Oil Prices to Stay High
$this->bbcode_second_pass_quote('', 'W')orld oil prices are likely to remain high "for many years to come'' as demand increases and national oil companies lack an incentive to increase production, the chief economist of the International Energy Agency said.
"The current drivers of demand are different'' while higher oil prices no longer represent "an incentive'' to produce more oil, Fatih Birol said at a seminar in Brussels today. Resource-rich nations and their national oil companies get enough revenue and see no need to increase production to ease prices, he added.
What a surprising turn of events. And here we were, all thinking the bottom was going to drop out of the oil market any time now. I'm stunned.
"Thank you for attending the oil age. We're going to scrape what we can out of these tar pits in Alberta and then shut down the machines and turn out the lights. Goodnight." - seldom_seen
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Re: Another Record
by Heineken » Mon 07 Apr 2008, 22:32:06
Yeah, the establishment is gradually, quietly abandoning its absurd predictions of a return to $35 oil. The interesting part about the Birol statement is the reference to "many years to come." That departs rather radically from the usual conservatism. At the same time, it begs the question, "What happens after 'many years to come' that magically brings the price back down?"
The answer, of course, is that the price will never ever come back down.
It's all like a weather forecast that goes ludicrously wrong. After the fact, the forecaster usually never refers to it again.
The answer, of course, is that the price will never ever come back down.
It's all like a weather forecast that goes ludicrously wrong. After the fact, the forecaster usually never refers to it again.
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"Things have entered a stage where the only change that is possible is for things to get worse."
---I & my bro.
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Re: Another Record
by whereagles » Tue 08 Apr 2008, 06:46:45
I guess for an economist $35 oil isn't so far-fetched, on the logics that, all things being equal, "what goes up, must come down".
Point is.. things are NOT equal anymore.
Point is.. things are NOT equal anymore.
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Re: Another Record
by Smudger » Tue 08 Apr 2008, 13:25:44
$this->bbcode_second_pass_quote('therealtruth', 'I') wasn't predicting the day to day moves of the market! I'm saying that in the immediate short-term, oil prices are coming down. As you can see, the funds are liquidating. I said this 2 days ago!! I'm telling everyone to stay out of crude oil because the fundamentals in reality isn't strong enought to justify $100 crude, maybe $80 but definitely not $100. Even when you factor in the devaluation of the dollar and the potential risks still out there that might not have been factored into the price, anything above $80 is excessive!
therealtruth - you have certainly called the immediate short-term to the penny. WTI c. $108 - could you explain why it is doing exactly the opposite of what you said please. Many thanks best regards Smudger
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