Peak Oil
Donate Bitcoin

Donate Paypal


PeakOil is You

PeakOil is You

Re: Another Oil price Record

What's on your mind?
General interest discussions, not necessarily related to depletion.
Topic locked

Re: $112.48

Postby Eli » Tue 15 Apr 2008, 10:46:44

Relax this is not the time to freak out. Oil is expensive the time to be freaked out is when there is no oil and you see gas lines in the US for 6.00 gallon.
User avatar
Eli
Intermediate Crude
Intermediate Crude
 
Posts: 3709
Joined: Sat 18 Jun 2005, 03:00:00
Location: In a van down by the river
Top

Re: $112.48

Postby KevO » Tue 15 Apr 2008, 10:52:52

113.47

http://www.bloomberg.com/energy/
KevO
Expert
Expert
 
Posts: 2775
Joined: Tue 24 May 2005, 03:00:00
Location: CT USA
Top

Re: Another Record

Postby frankthetank » Tue 15 Apr 2008, 10:53:52

Saudis say they are keeping some oil for future discoveries or something like that.

My bike is coming out today or tomorrow. Windy, but warm up here.

Vision-

Its funny, diesel dropped a nickel and then went right back up here? Who knows. We are sitting at 3.35 here for gasoline. Bought a new (almost) Focus the other day and hope to get 35mpg out of that (vs at best 30mpg for the other car). Wanted the manual, but got a better deal on the auto.
lawns should be outlawed.
User avatar
frankthetank
Light Sweet Crude
Light Sweet Crude
 
Posts: 6202
Joined: Thu 16 Sep 2004, 03:00:00
Location: Southwest WI
Top

Re: Another Record

Postby vision-master » Tue 15 Apr 2008, 10:57:06

$this->bbcode_second_pass_quote('frankthetank', 'S')audis say they are keeping some oil for future discoveries or something like that.

My bike is coming out today or tomorrow. Windy, but warm up here.

Vision-

Its funny, diesel dropped a nickel and then went right back up here? Who knows. We are sitting at 3.35 here for gasoline. Bought a new (almost) Focus the other day and hope to get 35mpg out of that (vs at best 30mpg for the other car). Wanted the manual, but got a better deal on the auto.


Yup, windy. I hate cycling when it's windy.

Might burn some hydrocarbons with the scooter today instead. I can get about 45 mpg with the Yamahog. :cool:
vision-master
 
Top

Re: $113.47

Postby Eli » Tue 15 Apr 2008, 11:03:21

More than half the people over at the Ticker Forum (an investment forum) still think that oil is just a speculative bubble. Whenever anyone is getting nervous just realize there are just as many people out there that think PO is bs.
User avatar
Eli
Intermediate Crude
Intermediate Crude
 
Posts: 3709
Joined: Sat 18 Jun 2005, 03:00:00
Location: In a van down by the river
Top

Re: $113.47

Postby Lore » Tue 15 Apr 2008, 11:09:40

$this->bbcode_second_pass_quote('Eli', 'M')ore than half the people over at the Ticker Forum (an investment forum) still think that oil is just a speculative bubble. Whenever anyone is getting nervous just realize there are just as many people out there that think PO is bs.


Of course they have to believe this, if not, their whole world loses all meaning.
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
... Theodore Roosevelt
User avatar
Lore
Fission
Fission
 
Posts: 9021
Joined: Fri 26 Aug 2005, 03:00:00
Location: Fear Of A Blank Planet
Top

Re: $113.47

Postby idomar » Tue 15 Apr 2008, 11:16:24

$this->bbcode_second_pass_quote('Eli', 'M')ore than half the people over at the Ticker Forum (an investment forum) still think that oil is just a speculative bubble. Whenever anyone is getting nervous just realize there are just as many people out there that think PO is bs.


I totally agree, they also deride anyone that disagrees with their bearish point of view

$this->bbcode_second_pass_quote('', 'T')hese people speculating are going to get crushed. Big time.


$this->bbcode_second_pass_quote('', '"')This Brazil field is over more than 4000 meters down, under a kilometer of salt which is under a kilometer of rock under 2000 meters of ocean."

So because this situation is technically difficult *now*, it will be difficult *always*? Shall I bring up my point wrt PO again? "We know all we will ever know, and drilling techniques won't improve substantially, ever." That's very peculiar reasoning, rooted in one sentence:

"We can't now, and we won't be able to, ever."

Not to put to fine a point on it, but just because you cannot imagine extracting said oil cheaply doesn't mean it cannot be done. It just means you cannot figure it out.

This is a lack of imagination, which is a trait PO'ers have to a man.

I am glad none of you worked on the moon program in the 50's and 60's. I can hear it now:

"We can't design a rocket engine that can maintain 6.7MN of thrust. The rocket engine is experiencing catastrophic failures each time we test a new design and we don't have the technology to measure the hydrodynamic flow in the nozzle. We will need to wait at least 20 years for computing power to be able to correctly model this." Efc.


[smilie=eusa_wall.gif]
User avatar
idomar
Peat
Peat
 
Posts: 172
Joined: Tue 20 Mar 2007, 03:00:00
Location: There is no hope for the future
Top

Re: $112.48

Postby Armageddon » Tue 15 Apr 2008, 11:22:24

$this->bbcode_second_pass_quote('Eli', 'R')elax this is not the time to freak out. Oil is expensive the time to be freaked out is when there is no oil and you see gas lines in the US for 6.00 gallon.



2009 ?
User avatar
Armageddon
Light Sweet Crude
Light Sweet Crude
 
Posts: 7450
Joined: Wed 13 Apr 2005, 03:00:00
Location: St.Louis, Mo
Top

Re: $113.47

Postby Eli » Tue 15 Apr 2008, 11:25:31

Yeah, I just wanted to point out how obtuse they are when it comes to PO. The crazy thing is that they hold themselves out as being in tune with finance and economics.

Lore, yeah I think they can't figure it out because the lack of context to understand the problem. The current PO on rush coupled with the direct spike in food prices, is such a massive problem their minds collectively just can't get it.

Idomar, it is frustrating but they will pay for their willful ignorance.

Arma, yeah 2009 ;)
User avatar
Eli
Intermediate Crude
Intermediate Crude
 
Posts: 3709
Joined: Sat 18 Jun 2005, 03:00:00
Location: In a van down by the river
Top

Re: $113.47

Postby Armageddon » Tue 15 Apr 2008, 11:30:19

$this->bbcode_second_pass_quote('Eli', 'Y')eah, I just wanted to point out how obtuse they are when it comes to PO. The crazy thing is that they hold themselves out as being in tune with finance and economics.

Lore, yeah I think they can't figure it out because the lack of context to understand the problem. The current PO on rush coupled with the direct spike in food prices, is such a massive problem their minds collectively just can't get it.

Idomar, it is frustrating but they will pay for their willful ignorance.

Arma, yeah 2009 ;)



gas lines and $6.00 gas wouldn't suprise me for 2009
User avatar
Armageddon
Light Sweet Crude
Light Sweet Crude
 
Posts: 7450
Joined: Wed 13 Apr 2005, 03:00:00
Location: St.Louis, Mo
Top

Re: $113.47

Postby Eli » Tue 15 Apr 2008, 11:55:08

It wouldn't surprise me even next week. One bomb or a few bombs placed at any of a number of key oil producing areas around the globe could set off a panic that would not abate.

A small boat loaded with explosives in the Straight of Hormuz is all it would take to bring the world to its flippin knees.

AS farmers were set to begin their spring planting diesel fuel would rocket out of control wheat, corn, rice and all basic food staples would explode to a level that even first world nations would notice.

Save the panic for something like this, which could happen at any moment.
User avatar
Eli
Intermediate Crude
Intermediate Crude
 
Posts: 3709
Joined: Sat 18 Jun 2005, 03:00:00
Location: In a van down by the river
Top

Re: $113.47

Postby vision-master » Tue 15 Apr 2008, 11:57:32

$this->bbcode_second_pass_quote('Lore', '')$this->bbcode_second_pass_quote('Eli', 'M')ore than half the people over at the Ticker Forum (an investment forum) still think that oil is just a speculative bubble. Whenever anyone is getting nervous just realize there are just as many people out there that think PO is bs.


Of course they have to believe this, if not, their whole world loses all meaning.


A few Months ago this "trader" I know said "we have lot's of oil". :cool:
vision-master
 
Top

Re: $113.47

Postby idomar » Tue 15 Apr 2008, 12:06:05

$this->bbcode_second_pass_quote('Eli', 'I')t wouldn't surprise me even next week. One bomb or a few bombs placed at any of a number of key oil producing areas around the globe could set off a panic that would not abate.

A small boat loaded with explosives in the Straight of Hormuz is all it would take to bring the world to its flippin knees.

AS farmers were set to begin their spring planting diesel fuel would rocket out of control wheat, corn, rice and all basic food staples would explode to a level that even first world nations would notice.

Save the panic for something like this, which could happen at any moment.


I agree, although I think that it could be something a lot more benign on the surface that could spark it off.

Azerbaijan has just cut its wheat exports, what if they cut their oil output also? that pushes up the price they can then sell at a higher price and feed their population.

add to this your bomb scenario, doom takes on a whole new meaning
User avatar
idomar
Peat
Peat
 
Posts: 172
Joined: Tue 20 Mar 2007, 03:00:00
Location: There is no hope for the future
Top

Re: $113.47

Postby aahala2 » Tue 15 Apr 2008, 12:08:01

$this->bbcode_second_pass_quote('Armageddon', '
')

gas lines and $6.00 gas wouldn't suprise me for 2009


I would surprise me. Particularily both gas lines and $6.00 at
the same time. Presumably, the price would first have to get
to $5.00 before 6, there will be a decline in demand at that
level.
User avatar
aahala2
Peat
Peat
 
Posts: 122
Joined: Tue 25 Mar 2008, 03:00:00
Top

Re: $113.47

Postby eastbay » Tue 15 Apr 2008, 12:08:24

$this->bbcode_second_pass_quote('vision-master', '')$this->bbcode_second_pass_quote('Lore', '')$this->bbcode_second_pass_quote('Eli', 'M')ore than half the people over at the Ticker Forum (an investment forum) still think that oil is just a speculative bubble. Whenever anyone is getting nervous just realize there are just as many people out there that think PO is bs.


Of course they have to believe this, if not, their whole world loses all meaning.


A few Months ago this "trader" I know said "we have lot's of oil". :cool:


We DO have lots of oil. In fact, just waiting to be pumped from the ground we still have just a tad under half of all the oil that will ever be produced! That an unreal amount!
Got Dharma?

Everything is Impermanent. Shakyamuni Buddha
User avatar
eastbay
Expert
Expert
 
Posts: 7186
Joined: Sat 18 Dec 2004, 04:00:00
Location: One Mile From the Columbia River
Top

Re: $113.47

Postby gnm » Tue 15 Apr 2008, 12:10:56

Lots of oil indeed, just not enough to fuel the current paradigm or any more room for "growth" 8)

-G
gnm
 
Top

Re: $113.47

Postby vision-master » Tue 15 Apr 2008, 12:45:54

$this->bbcode_second_pass_quote('aahala2', '')$this->bbcode_second_pass_quote('Armageddon', '
')

gas lines and $6.00 gas wouldn't suprise me for 2009


I would surprise me. Particularily both gas lines and $6.00 at
the same time. Presumably, the price would first have to get
to $5.00 before 6, there will be a decline in demand at that
level.


$5.00 gal? Won't hadly make a dent.
vision-master
 
Top

Re: $113.47

Postby pup55 » Tue 15 Apr 2008, 12:51:35

$this->bbcode_second_pass_quote('', '$')5.00 gal? Won't hadly make a dent.


Somebody should unearth one of those 2004 threads on what happens when it hits $3 to see what our predicting powers were.
User avatar
pup55
Light Sweet Crude
Light Sweet Crude
 
Posts: 5249
Joined: Wed 26 May 2004, 03:00:00
Top

Re: $113.47

Postby Pretorian » Tue 15 Apr 2008, 12:57:32

$this->bbcode_second_pass_quote('idomar', '')$this->bbcode_second_pass_quote('Eli', '
') [smilie=eusa_wall.gif]


What are you guys are doing there? Are you hoping them to profit from oil? Are you willing to pay more for everything if they do so? I would understand it somehow if you were completely into oil futures( and i mean completely, ALL of your equity AND income, which should come from oil industry also ), but if not--- what in the world are you preaching there?
Pretorian
Light Sweet Crude
Light Sweet Crude
 
Posts: 4685
Joined: Sat 08 Apr 2006, 03:00:00
Location: Somewhere there
Top

Re: $113.47

Postby pup55 » Tue 15 Apr 2008, 13:06:40

http://www.peakoil.com/fortopic2241.html+destruction

Here we go.

$this->bbcode_second_pass_quote('', 'I')t seems like everyone will ignore the price increases until they reach the 60-70 dollar/b price.

$this->bbcode_second_pass_quote('', '
')demand destruction needs an oil price of at least $100 and at least 1-2 years of steady prices to work.(thats my opinion of course)


$this->bbcode_second_pass_quote('', 'I')'d suppose, not just yet. $72 per barrel crude is "my" target price for demand destruction to start happening. Others talk about $70, $75, they're starting to "group" (using "gun terminology" Laughing) in the $70-$80 range.
Last edited by pup55 on Tue 15 Apr 2008, 13:26:50, edited 1 time in total.
User avatar
pup55
Light Sweet Crude
Light Sweet Crude
 
Posts: 5249
Joined: Wed 26 May 2004, 03:00:00
Top
PreviousNext
Topic locked

Return to Open Topic Discussion

Who is online

Users browsing this forum: No registered users and 13 guests