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Re: Another Oil price Record

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Re: Another Record ($132.08)

Postby PeakingAroundtheCorner » Wed 21 May 2008, 15:29:01

$133.10!!!

Ooops! Make that $133.35
Last edited by PeakingAroundtheCorner on Wed 21 May 2008, 15:31:10, edited 1 time in total.
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Re: Another Record ($132.08)

Postby AlwaysThere » Wed 21 May 2008, 15:29:25

$this->bbcode_second_pass_quote('Drifter', ' ')Demand destruction? Where? Any demand destruction in the US will surely be offset by India and China. And remember that new, more efficient drilling technologies are making fields die even quicker than ever before. As Shannymara said- "production dives off a cliff".


Oil is getting more expensive for chinese as well as Americans. Why do you guys think China and India are immune from oil supply and price problems ? They are going to face problems just as we are. Are the 500 million auto seeking Chinese really under the illusion living an auto dependant lifestyle is going to last ?
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Re: Another Record ($132.08)

Postby idomar » Wed 21 May 2008, 15:30:07

you mean $133.30 dont you!!!
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Re: Another Record ($132.08)

Postby threadbear » Wed 21 May 2008, 15:31:28

$this->bbcode_second_pass_quote('AlwaysThere', '')$this->bbcode_second_pass_quote('Shannymara', '')$this->bbcode_second_pass_quote('LittleBoPeak', 'W')hat do ya'll think the chances are that SA and OPEC are sandbagging us?

.00000001%


Shanny you and many others here are really not objective on this topic. Between demand destruction and production increases chances of a prolonged peak or plateau are pretty significant. I am not saying that this is not a problem for the US in particular, but the world will be producing quite a bit of oil for quite a long time.

At a sustained $130 per barrel if you had oil would you produce more to drive the price down ?


Give this man a prize! Did you say you work in the industry? Your last sentence should be carved into the minds of every Peak Oiler, presently having heart failure. An ulcer, I can understand, but some of the people on this forum, are getting out their flak jackets and getting ready for Thunderdome, and it aint going to happen.
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Re: Another Record ($133.10)

Postby bodigami » Wed 21 May 2008, 15:32:59

$134.36 :lol: brent

update
$134.48 :lol: :lol:
Last edited by bodigami on Wed 21 May 2008, 15:35:55, edited 1 time in total.
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Re: Another Record ($133.10)

Postby idomar » Wed 21 May 2008, 15:37:20

fuck-a-doodle-do

this is getting surreal, we are about to find out which of our worst case scenarios plays out.
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Re: Another Record ($133.10)

Postby AlwaysThere » Wed 21 May 2008, 15:37:32

What should the price of oil be ? The answer is whatever someone wants to pay for it. The Tech and Housing bubbles have burst, now commodities are getting thier turn. I do not deny these changes are going to be more significant than the others over the long haul, but price is only an indicator of the "Market".

My co-worker says gas stations in Ca limit purchases to $75, has anybody else experienced this ?
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Re: Another Record ($133.10)

Postby Laurasia » Wed 21 May 2008, 15:37:59

Thanks for the link to LiveCharts! $133.23
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Re: Another Record ($132.08)

Postby threadbear » Wed 21 May 2008, 15:38:33

$this->bbcode_second_pass_quote('AlwaysThere', '')$this->bbcode_second_pass_quote('Drifter', ' ')Demand destruction? Where? Any demand destruction in the US will surely be offset by India and China. And remember that new, more efficient drilling technologies are making fields die even quicker than ever before. As Shannymara said- "production dives off a cliff".


Oil is getting more expensive for chinese as well as Americans. Why do you guys think China and India are immune from oil supply and price problems ? They are going to face problems just as we are. Are the 500 million auto seeking Chinese really under the illusion living an auto dependant lifestyle is going to last ?


The Chinese are already rioting in the streets due to high inflation and fuel prices, and that's with govt. intervention.
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Re: Another Record ($133.10)

Postby bodigami » Wed 21 May 2008, 15:40:09

$this->bbcode_second_pass_quote('Drifter', '')$this->bbcode_second_pass_quote('zensui', '$')134.36
brent http://www.livecharts.co.uk/MarketCharts/brent.php :lol:


Hey. No cheating! :razz:


Why cheating?! Because it's not Nymex? ...we should have 2 or 3 "official" crude charts.

$133.28 http://www.livecharts.co.uk/MarketCharts/crude.php
$134.63 http://www.livecharts.co.uk/MarketCharts/brent.php
:)
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Re: Another Record ($132.08)

Postby sjn » Wed 21 May 2008, 15:40:22

$this->bbcode_second_pass_quote('AlwaysThere', '')$this->bbcode_second_pass_quote('Shannymara', '')$this->bbcode_second_pass_quote('LittleBoPeak', 'W')hat do ya'll think the chances are that SA and OPEC are sandbagging us?

.00000001%


Shanny you and many others here are really not objective on this topic.
Not objective? Who are you kidding? Ignorance doesn't make one objective.$this->bbcode_second_pass_quote('', 'B')etween demand destruction and production increases chances of a prolonged peak or plateau are pretty significant.
From your subjective point of view. Of course if you were being objective you'd realise that demand destruction does not provide additional supply, but simply removes participants from the market at that price point. We've been on the peak plateau for some years now but despite the best efforts of the official data tracker in re-classifying everything as oil we've been unable to increase production! $this->bbcode_second_pass_quote('', 'I') am not saying that this is not a problem for the US in particular, but the world will be producing quite a bit of oil for quite a long time.The world will continue producing oil for as long as it is economically viable to do so. That doesn't mean it will necessarily be providing a net positive energy contribution. An oil based world economy as we have today is dependent on that energy surplus, and as such will not last a long time at all.$this->bbcode_second_pass_quote('', '
')
At a sustained $130 per barrel if you had oil would you produce more to drive the price down ?Depends how much I value those dollars today relative to the future utility of the oil. You are assuming that $200 tomorrow is worth more than $130 today. Maybe next year or 10 years from now that oil will be priceless.
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Re: Another Record ($132.08)

Postby sjn » Wed 21 May 2008, 15:41:33

duplicate post
Last edited by sjn on Wed 21 May 2008, 16:50:44, edited 1 time in total.
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Re: Another Record ($133.10)

Postby AlwaysThere » Wed 21 May 2008, 15:41:51

$this->bbcode_second_pass_quote('Shannymara', 'N')ah, the global economy is going into cardiac arrest in short order. Those with an eye for profits are taking them now, while they can. There are a few exceptions where groups with a more long term strategy may be holding out, but Saudi isn't one of them.


Why ? There is how many trillions of dollars in circulation and how many million BOE burned a day ? We are not at the bottom of anything, on the other hand we are most likely at the "Peak" of everything.

Are you one of those who are

a: wanting to buy cheap after the crash ?

or

b. one who has always wanted what everybody else had, and can't wait for the crash to see them "lose" it ?

or

c. ???

I would suspect most on PO.com fall into one of these categories.
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Re: Another Record ($132.08)

Postby sjn » Wed 21 May 2008, 15:42:00

duplicate post
Last edited by sjn on Wed 21 May 2008, 16:50:53, edited 1 time in total.
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Re: Another Record ($133.10)

Postby AlwaysThere » Wed 21 May 2008, 15:45:25

$this->bbcode_second_pass_quote('Shannymara', 'T')hanks for the free psych exam, AlwaysThere, but I'm not gonna go there. :)


Just asking :-D
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