[carbuster]

I've been watching the oil market for a number of years but it looks like I haven't seen anything yet. I know we use NYMEX as benchmark here but have a look at Oman 1M:



http://www.upstreamonline.com/market_da ... kets_crude

Any ideas, or just a reporting error?

[darren]

$this->bbcode_second_pass_quote('bl00k', 'G')uys, i dont want to spoil the party, but what use is it following the price in dollars? The devaluation has some say in high prices. The euro is therefor a better choice. And it's not like that won't be exciting, even in euro's oil has more than doubled in the past year.

[dohboi]

"if they get desperate enough they can "take steps""

Yes, the US, after trying to sue them, will coubtless start invading all sorts of oil rich countries. We have not, of course, lowered speed limits on highways. That would be just too difficult. But suing and invading other countries is something we do readily.

Could anything be more absolutely more pathetic than my dear addicted country's pitiful twisting as its drug of choice is gradually removed? There is no imbarrassing insanity we will not act out as we flail about in desparation. The one thing will never, never do is make any real attempt to live within our means.

[lowem]

Ok so we didn't make it to $130 in the previous session but in *this* session. And there I was yelling 42 cents more. Lo and behold. We overshot by 47 cents. This is more than convincing enough.

We're going to $150 dudes !! The next resistance level beckons. After that we have $180, $200, $300 and over $400. Yeah!!! Support levels are at $120, $110, $100 and $90. Anyone wanna talk $130 support, anybody?!! I guess not yet. But in time.

[roccman]

$this->bbcode_second_pass_quote('lowem', '
')
We're going to $150 dudes !!

[Eli]

$this->bbcode_second_pass_quote('roccman', '')$this->bbcode_second_pass_quote('lowem', '
')
We're going to $150 dudes !!

[Dan1195]

up we go, over $131 now per CNBC..
[s]EDIT $131.40 now[/s]

$131.78..

[joewp]

$132.08

And western civilization collapses before your very eyes.



Got popcorn?

[PeakingAroundtheCorner]

Now, I'm starting to get really scared.

This is amazing to watch.

[eXpat]

$this->bbcode_second_pass_quote('joewp', '$')132.08
And western civilization collapses before your very eyes.

Got popcorn?

[Eli]

no Joe they turned it all into ethanol, the bastards.

[emersonbiggins]

It won't be long until we have to assign a mod solely to updating this thread's title.

[sdcoyote]

$this->bbcode_second_pass_quote('Eli', 'n')o Joe they turned it all into ethanol, the bastards.

[morph]

Bloody hell, It seems we are breaking records everyday now.

BTW anyone know the lowest oil has been this year/ in the last 12 months?

[Peleg]

You guys have to go watch Orrin Hatch on bloomberg video. I couldn't get the link.

Here is his argument about shale:
a) we could produce oil shale at $30-$40 per barrel
b) we have 800 bn to 2 tr barrels of oil shale
c) we are not producing it because
i) the environmentalists are in control of the democratic party
ii) there has always been a rogue group of liberal Republicans who block efforts to bring shale to market.

His conclusion, we could ensure our enegry future if we just stopped playing games and got on to producing oil shale.

I think we need to make sure Mr. Hatch dines on his own words. That is a dangerous set of hypotheses for him to spew especially now.

How can we use legal means to make sure that Mr. Hatch apologizes for his misinformation? Any ideas?

[charliehelyes]

hmm I reccon something is going on why the sudden acceleration in price rises, maybe oil supply has hit a cliff

[Eli]

Charlie that could easily be the case.

Hirsch said the first thing you would see when peak hit was rising prices and no increase in supply.

[lowem]

$this->bbcode_second_pass_quote('morph', 'B')loody hell, It seems we are breaking records everyday now.