[oilluber]

is it 30 or even lower ?? and when ?? my bet is 30,,,, at these prices, the exploration companies are going to be begging for handouts behind the Auto companies.
never thought I'd see the day when alot of these oil companies are going to get slaughtered fundamentally speaking.

[the48thronin]

$this->bbcode_second_pass_quote('oilluber', 'i')s it 30 or even lower ??
and when ??

my bet is 30,,,, at these prices, the exploration companies are going
to be begging for handouts behind the Auto companies.

never thought I'd see the day when alot of these oil companies are
going to get slaughtered fundamentally speaking.

[shortonsense]

$this->bbcode_second_pass_quote('oilluber', '
')
never thought I'd see the day when alot of these oil companies are
going to get slaughtered fundamentally speaking.

[TreeFarmer]

$30 +/- $2 sounds good to me. When it gets that low I would expect a number of supplies (non OPEC) to start shutting in wells knowing that prices will be back to $50+ as soon as the world economy turns around even slightly.

TF

[MD]

We're in a race between depletion and depression. Right now it appears depression is winning, which means no bottom yet.

I'm more interested in the slope of the next run-up than I am in the bottom of this wave.

[dohboi]

"$30 +/- $2 sounds good to me."

We already hit $32 something Friday, and we're barely above that now, so we're basically already in this range.

"When it gets that low I would expect a number of supplies (non OPEC) to start shutting in wells"

Does anyone have data (or even anecdotal reports) on how much this is happening already?

[MrBean]

80 - oops
50 - oops
40 - oops
30 - dunno

[AAA]

Bye Bye Stripper Wells
Bye Bye Oil Shale/Tar Sands
Bye Bye Ultra Deep Offshore

My bottom prediction for West Texas Sour Adj. B is $18.50/bbl.

[yesplease]

$this->bbcode_second_pass_quote('MrBean', '8')0 - oops
50 - oops
40 - oops
30 - dunno

[oilluber]

$this->bbcode_second_pass_quote('AAA', 'B')ye Bye Stripper Wells
Bye Bye Oil Shale/Tar Sands
Bye Bye Ultra Deep Offshore

My bottom prediction for West Texas Sour Adj. B is $18.50/bbl.

[Duende]

oilluber wrote:
$this->bbcode_second_pass_quote('', 'w')ow that is really low, if we get there, then definately we are in a deppression and life would be miserable for most.

[reuterrooter]

What would we have said if last summer we predicted 30 dollar oil?

No one knows what is going to happen, BUT it is going to go lower than we expect.

[ki11ercane]

Less than $10.00 per barrel, or less than $20.00 if adjusted for inflation. (presuming we don't have massive deflation)

[AAA]

West Texas Sour Adj. B closed at $27.80 on December 23rd.

[Revi]

They will be giving it away, and no takers.

Seriously, $30 is around the bottom I think.

[nicknick]

3 Amero dollars a barrel.

Everyone will be happy again with their slavery.

[Daniel_Plainview]

During the spring of 2009, oil will drop to $12/bbl.

[Blacksmith]

Natural gas is presently $5.80US, using a conversion based on 6 BOE then oil should be $34.80US. I don't think it is easier or more expensive to produce oil than gas.

[Armageddon]

It doesn't take much gasoline to walk up to your local soup kitchen or food pantry.

[wapato]

Nail head
hammer

good shot.