PeakOil is You
Re: Another Oil price Record
Re: Another Record
by Zardoz » Thu 13 Mar 2008, 12:34:29
There's no telling where this is going.
"Thank you for attending the oil age. We're going to scrape what we can out of these tar pits in Alberta and then shut down the machines and turn out the lights. Goodnight." - seldom_seen
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Zardoz - Expert
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Re: Another Record
by dohboi » Thu 13 Mar 2008, 13:36:07
Welcome to the forum, therealtruth.
Most of us here have expected oil to rise steadily or even exponentially (as they are in fact doing) for years, and we have seen our predictions come true while the "experts" have mostly been wrong.
Having said that, most here have also noticed that short term prices are pretty impossible to predict, so few of us speculate in prose or in dollars on day-to-day changes in oil prices. So you could be right that prices may "crash" below $100 for a while at any time, but not for long.
Long term, I think most here would agree that the only way oil sells at well below $100 again for any length of time is if we are in a deep depression or we have a hyper-inflated currency or both. (And with the Fed throwing hundreds of billions of dollars into the system, we may be moving that way quickly.)
Spend some time looking at the history of postings on these threads, and you will see what I mean. It is humbling to me to have been able to converse with such clear sighted, intelligent posters here over the years. Don't assume we're all idiots here just because most forums are filled with them.
Your business is changing quickly, and as is often the case, many of those on the inside may be the last to see the writing on the wall.
Best of luck, and once again, welcome.
Most of us here have expected oil to rise steadily or even exponentially (as they are in fact doing) for years, and we have seen our predictions come true while the "experts" have mostly been wrong.
Having said that, most here have also noticed that short term prices are pretty impossible to predict, so few of us speculate in prose or in dollars on day-to-day changes in oil prices. So you could be right that prices may "crash" below $100 for a while at any time, but not for long.
Long term, I think most here would agree that the only way oil sells at well below $100 again for any length of time is if we are in a deep depression or we have a hyper-inflated currency or both. (And with the Fed throwing hundreds of billions of dollars into the system, we may be moving that way quickly.)
Spend some time looking at the history of postings on these threads, and you will see what I mean. It is humbling to me to have been able to converse with such clear sighted, intelligent posters here over the years. Don't assume we're all idiots here just because most forums are filled with them.
Your business is changing quickly, and as is often the case, many of those on the inside may be the last to see the writing on the wall.
Best of luck, and once again, welcome.
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dohboi - Harmless Drudge
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Re: Another Record
by Puncak » Thu 13 Mar 2008, 14:22:12
$this->bbcode_second_pass_quote('Zardoz', 'I')ndonesian Tapis now at $111.85 on the spot market.
Tapis is name for Malaysian Light Crude. The correct name for Indonesian Crude is Minas.
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Re: Another Record
by frankthetank » Thu 13 Mar 2008, 14:33:01
This is crazy. I still remember freaking out when it was in the mid 50's... If someone could have a screen grab from today and take it back 2 years, most, if not all, the people on here would shit their pants.
Keep going baby. I want to see $150. We need to outbid these poor fools with our worthless dineros.
Keep going baby. I want to see $150. We need to outbid these poor fools with our worthless dineros.
lawns should be outlawed.
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frankthetank - Light Sweet Crude
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Re: Another Record
by Zardoz » Thu 13 Mar 2008, 15:13:11
$this->bbcode_second_pass_quote('Puncak', '')$this->bbcode_second_pass_quote('Zardoz', 'I')ndonesian Tapis now at $111.85 on the spot market.
Tapis is name for Malaysian Light Crude. The correct name for Indonesian Crude is Minas.
I stand corrected. I don't know where I got the idea that Tapis was Indonesian. Thanks.
"Thank you for attending the oil age. We're going to scrape what we can out of these tar pits in Alberta and then shut down the machines and turn out the lights. Goodnight." - seldom_seen
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Zardoz - Expert
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- Joined: Fri 02 Dec 2005, 04:00:00
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Re: Another Record
by dohboi » Thu 13 Mar 2008, 15:13:19
111 "eleventy one" is a nice number, too!
For a couple years now, I've been predicting (near) $160 for this year (based on the roughly doubling of price records every two years since the 2000 low of $10). Many of even the best informed analysts here doubted it would go that far that fast. If the rate of recent increases persist, we could go way past that. We'll see.
If we do hit $160, that could mean ~$320 by 2010, and... well you can do the math for future years. Of course, various factors could intervene--for example the massive and persistent (permanent?) deep, world depression we seem to be heading in to.
I would just like to point out again that these high records are being set without obvious triggers like wars, hurricanes or other supply disruptions. What will happen to the price if new hostilities erupt in any of the volatile areas where most of the world's oil now comes from?
For a couple years now, I've been predicting (near) $160 for this year (based on the roughly doubling of price records every two years since the 2000 low of $10). Many of even the best informed analysts here doubted it would go that far that fast. If the rate of recent increases persist, we could go way past that. We'll see.
If we do hit $160, that could mean ~$320 by 2010, and... well you can do the math for future years. Of course, various factors could intervene--for example the massive and persistent (permanent?) deep, world depression we seem to be heading in to.
I would just like to point out again that these high records are being set without obvious triggers like wars, hurricanes or other supply disruptions. What will happen to the price if new hostilities erupt in any of the volatile areas where most of the world's oil now comes from?
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dohboi - Harmless Drudge
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Re: Another Record
by bob9000 » Fri 14 Mar 2008, 03:14:27
upstreamonline.com now has everyone over $100
sigh
sigh
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Re: Another Record
by Zardoz » Fri 14 Mar 2008, 12:12:54
$this->bbcode_second_pass_quote('bob9000', 'u')pstreamonline.com now has everyone over $100
And seven of them are over $110:
If this continues through next week, we'll be flirting with $120.
"Thank you for attending the oil age. We're going to scrape what we can out of these tar pits in Alberta and then shut down the machines and turn out the lights. Goodnight." - seldom_seen
-
Zardoz - Expert
- Posts: 6323
- Joined: Fri 02 Dec 2005, 04:00:00
- Location: Oil-addicted Southern Californucopia
