Stephen Schork, president of Schork Group Inc., talks with Bloombergs Lori Rothman about the outlook for crude oil prices. "France is closing one of it's refineries. In fact, during the 4th quarter of 2009, 1.7 million of refinery capacity was closed! Oil is not trading on the fundamentals it's trading on the bell curve!" Great, I'm glad I bought a Prius!
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Schork Says $95 a Barrel Crude Oil price Possible This Year!
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Schork Says $95 a Barrel Crude Oil price Possible This Year!
by mediaspin » Wed 17 Feb 2010, 16:43:50
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Re: Schork Says $95 a Barrel Crude Oil Possible This Year!
by Tanada » Wed 17 Feb 2010, 19:11:41
Interesting turn of phrase for him to choose, "oil is trading on the bell curve".
$this->bbcode_second_pass_quote('Alfred Tennyson', 'W')e are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
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Re: Schork Says $95 a Barrel Crude Oil Possible This Year!
by Bas » Wed 17 Feb 2010, 19:49:53
oil right now is the wild card....do you think OPEC could sustain this price by itself right now? Before the end of this year recovering economies in the west and growing economies in the east will drag oil prices above 150$...
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Re: Schork Says $95 a Barrel Crude Oil Possible This Year!
by Tanada » Wed 17 Feb 2010, 19:56:01
$this->bbcode_second_pass_quote('Bas', 'o')il right now is the wild card....do you think OPEC could sustain this price by itself right now? Before the end of this year recovering economies in the west and growing economies in the east will drag oil prices above 150$...
You, my good fellow, are MUCH more optimistic about the economy in North America and Europe than I am. I don't see much if any recovery going on around Michigan or Ohio, and from the news Greece is just a portion of the problems Europe is facing right now.
$this->bbcode_second_pass_quote('Alfred Tennyson', 'W')e are not now that strength which in old days
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
Moved earth and heaven, that which we are, we are;
One equal temper of heroic hearts,
Made weak by time and fate, but strong in will
To strive, to seek, to find, and not to yield.
- Tanada
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- Posts: 17094
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- Location: South West shore Lake Erie, OH, USA
Re: Schork Says $95 a Barrel Crude Oil Possible This Year!
by Ferretlover » Wed 17 Feb 2010, 20:13:22
$95 a barrel!?!? Again!?!? Oh. My. God! I'll alert the media! 
(couldn't resist 
)
(couldn't resist )"Open the gates of hell!" ~Morgan Freeman's character in the movie, Olympus Has Fallen.
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Re: Schork Says $95 a Barrel Crude Oil Possible This Year!
by cipi604 » Thu 18 Feb 2010, 10:48:10
In a recession environment , 95$/barrel feels like 150$/barrel, on a percentage base income/spending.
THIS is peak oil ladies and gentlemen, in full effect.
THIS is peak oil ladies and gentlemen, in full effect.
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