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Re: Another Oil price Record

What's on your mind?
General interest discussions, not necessarily related to depletion.

Re: Another Record ($126.20)

Unread postby joewp » Mon 12 May 2008, 15:08:34

$this->bbcode_second_pass_quote('PeakingAroundtheCorner', 'W')aking up a little at a time.


No they're not. The majority of the country still thinks the problem can be solved by drilling in ANWR and off the continental shelf and getting a hybrid. I made some suggestions that my town encourage things like local farming and stop development on farms and was laughed at.

My next-door neighbor had a party on Saturday and the dominant sentiment from a bunch of financial adviser types was "when the dollar goes back up, oil will come down to $60".

Nope, no clues here.
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Re: Another Record ($126.40)

Unread postby Geko45 » Mon 12 May 2008, 15:13:17

I found the price scale posted today on 321Energy.com very telling.

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Re: Another Record ($126.40)

Unread postby Atlantean_Relic » Mon 12 May 2008, 18:15:08

$this->bbcode_second_pass_quote('Geko45', 'I') found the price scale posted today on 321Energy.com very telling.

Image

Tired of one day use graph scales. This one should last them a week.
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When the banks became cathedrals
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Re: Another Record ($126.20)

Unread postby Starvid » Mon 12 May 2008, 20:27:02

$this->bbcode_second_pass_quote('GoghGoner', '')$this->bbcode_second_pass_quote('Starvid', 'I')f the US just does what Sweden did they could first get rid of that +21 % increase (go from 20 mbpd to 16) and then halve consumption, like we did. That would mean consuming 8 mbpd, pretty much eliminating oil imports entirely.

That 12 mbpd cut, taken togheter with the possible saving of 15 mbpd just in emerging market substitution of non-transport sector oil to coal, gas and electricity would go quite a bit.


It is a good point regarding the excess in the US consumption, however, passenger cars account for 40% of the toal US consumption of oil. Also, natural gas depletes, too. Please redo your calculations based on these corrections.
Redo? I'd say that the small fraction of US oil&gas consumption that goes to tranportation is a good thing. Dealing with hydricarbon use in transportation is by far the hardest nut to crack.

But sure, I can redo the calculation.

Swedish per capita oil consumption 300,000,000/9,000,000,000*159=5.3 litres per day.
American per capita oil consumption 20,000,000,000/300,000,000,000*159=10.6 litres per day.

US per capita oil consumption is pretty much exactly twice as high as Swedish per capita consumption. Given that Sweden and the US are so much alike physically, the US should be able to reduce its oil consumption by 50 % or 10 mbpd without losing any standard of living, except during the transition period where investment will displace consumption to a certain degree. Eventually the new better energy structure should allow the US to catch up.
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Re: Another Record ($126.40)

Unread postby TheDude » Tue 13 May 2008, 10:20:36

Americans won't voluntarily stop driving. Haven't you ever listened to the Beach Boys? :-D Bunch of Reagan cronies, that lot.

Senators push Bush to pressure Saudis on oil | Politics | Reuters

$this->bbcode_second_pass_quote('', 'T')he lawmakers, including Senate Majority Leader Harry Reid, said Saudi Arabia "wields enormous influence over the price of crude oil." They reminded Bush that when he first ran for president, he said his relationships in the oil industry would be effective in convincing OPEC to increase oil output levels.

However, they said OPEC has voted three times in the last year not to raise production, "meaning rising gas prices continue to sap a greater portion of Americans' paychecks."

"We hope that you will put this concern at the top of your agenda during your meetings in Saudi Arabia, and that you convince the Saudis to release some of their spare capacity to cool the markets and give some relief to America's drivers," the lawmakers said.


"Plueezzze, Mr. King Sir, how 'bout a little spare capacity?" Sounds like Oliver Twist.

How long would it take 2 mb/d to gear up? Maybe they could just lie about promising to do so - US politicos could demonize KSA when it doesn't immediately work, either.
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Re: Another Record ($126.40)

Unread postby frankthetank » Tue 13 May 2008, 10:33:08

Starvid-

Most women around here are fat pigs. Sweden girls are hot. The same goes for the dudes. Fat lard asses use way more oil then hot Nordic babes. Big difference.

123.94...
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Re: Another Record ($126.40)

Unread postby dblk » Tue 13 May 2008, 12:43:56

Record time!

Now at $126.85
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Re: Another Record ($126.40)

Unread postby Troyboy1208 » Tue 13 May 2008, 13:03:25

Jeez this is unreal...Hard to really get my head around it
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Re: Another Record ($126.85)

Unread postby Eli » Tue 13 May 2008, 13:21:37

What happened to stocks rising on lower oil prices?

Oh yeah that was yesterday. Just wait oil will go down a buck and stocks will rise and it will be happy days are here again.
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Re: Another Record ($126.85)

Unread postby shortonoil » Tue 13 May 2008, 14:03:01

Eli said:

$this->bbcode_second_pass_quote('', 'W')hat happened to stocks rising on lower oil prices?

Oh yeah that was yesterday. Just wait oil will go down a buck and stocks will rise and it will be happy days are here again.


Then oil will rise $10, and stocks will go up again because the increase was already priced in. No one is going to react until the lights go out! There is absolutely no sense in trying to convince anyone that oil is bankrupting the world. They just absolutely aren’t going to believe it, regardless of the information to contrary.

My numbers show that we should start to see the unraveling up close and personal by the 3rd, 4th quarter of this year. After that it will just get worse.
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Re: Another Record ($126.85)

Unread postby vision-master » Tue 13 May 2008, 16:23:20

$this->bbcode_second_pass_quote('shortonoil', '[')b]Eli said:

$this->bbcode_second_pass_quote('', 'W')hat happened to stocks rising on lower oil prices?

Oh yeah that was yesterday. Just wait oil will go down a buck and stocks will rise and it will be happy days are here again.


Then oil will rise $10, and stocks will go up again because the increase was already priced in. No one is going to react until the lights go out! There is absolutely no sense in trying to convince anyone that oil is bankrupting the world. They just absolutely aren’t going to believe it, regardless of the information to contrary.

My numbers show that we should start to see the unraveling up close and personal by the 3rd, 4th quarter of this year. After that it will just get worse.


You mean 2009 is really gonna suck. Lord help us.

I stopped in a discount food store today. They get broken stuff, expiration date coming real soon and God knows where other food stuff comes from. Anyhoo, a couple of workers were outside having a smoke. I asked, cigs or fuel? Smoke an walk was my responce. Just think, smoke en walk. Sweet, eh. :cool:
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Re: Another Record ($126.85)

Unread postby hironegro » Tue 13 May 2008, 18:02:41

Last edited by hironegro on Tue 13 May 2008, 19:20:05, edited 1 time in total.
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Re: Another Record ($126.85)

Unread postby grink1tt3n » Tue 13 May 2008, 18:26:44

Hey, posting a video to auto-play is NOT cool.

Post a link to the video in the future.

hironegro, thanks for updating your post.
Last edited by grink1tt3n on Wed 14 May 2008, 00:20:12, edited 1 time in total.
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Re: Another Record ($126.85)

Unread postby bodigami » Tue 13 May 2008, 22:16:59

(drums...)
Will oil be over $130 this week?

$this->bbcode_second_pass_quote('grink1tt3n', 'H')ey, posting a video to auto-play is NOT cool.

Post a link to the video in the future.

Moderators, please remove hironegro's post.


For insensitive video posters (...kidding :P ), you can use Flashblock (for Firefox) to block all flash videos from auto-launching. All videos will have a flash logo that has to be clicked before launching a video. No need to mute when you open a bunch of tabs and some have a video. Great for some forms of ads too....

I use Safari for flash... but I dislike flash in general (because of how it's used). :)
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Re: Another Record ($126.85)

Unread postby Homesteader » Tue 13 May 2008, 22:24:36

$this->bbcode_second_pass_quote('Eli', 'W')hat happened to stocks rising on lower oil prices?

Oh yeah that was yesterday. Just wait oil will go down a buck and stocks will rise and it will be happy days are here again.


Near as I can figure stocks rise on higher oil prices 'cause it proves the U.S. is not headed towards a recession.

Near as I can figure stocks rise on a down tick in oil prices 'cause that proves oil prices are headed lower long term which is good for the U.S. economy.
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Re: Another Record ($126.85)

Unread postby lowem » Wed 14 May 2008, 11:54:39

Ok, so I woke up to another record this morning.

$126.98

The excuse this time was that "Iran said it was studying a plan to cut crude output" or something like that. But like I said, "it would be showing incredible strength, however, if it stays persistently above $120."

The Iran news was worth what, $2 or $3 ?
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Re: Another Record ($126.85)

Unread postby yesplease » Wed 14 May 2008, 15:00:48

$this->bbcode_second_pass_quote('vision-master', 'A')nyhoo, a couple of workers were outside having a smoke. I asked, cigs or fuel? Smoke an walk was my responce. Just think, smoke en walk. Sweet, eh. :cool:
The tanks are full. ;)
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$this->bbcode_second_pass_quote('Professor Membrane', ' ')Not now son, I'm making ... TOAST!
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Re: Another Record ($126.98)

Unread postby olekriri » Thu 15 May 2008, 09:54:47

Norway Cuts Oil Output Forecast

Total oil production, including natural gas liquids and condensate, is estimated at 2.4 million barrels a day in 2008, down from an October estimate of 2.5 million, the Petroleum and Energy Ministry said today.

``Approximately half of the total expected oil resources have been produced,'' the ministry said. ``The remaining resources are mainly connected to existing fields, or they have yet to be discovered. A strong focus on existing fields and on exploration is crucial to ensure a long-term development on the Norwegian continental shelf.''

The ministry today said that investments in the petroleum industry, including exploration, will probably rise 10 percent to 125 billion kroner ($24.7 billion) this year, up from an earlier guidance of 120 billion.

Oil Price

Norway expects to get an average 500 kroner ($99) a barrel for its crude oil this year and an average 400 kroner ($79) a barrel next year, the ministry said.

``The weakening of the U.S. economy contributes to a reduction in demand for oil,'' the Norwegian ministry said today. ``On the other hand there is little spare capacity and uncertainty linked to the supply of oil from several countries.''
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Re: Another Record ($126.98)

Unread postby Armageddon » Thu 15 May 2008, 11:13:32

Image



Did we just bomb Iran ?
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Re: Another Record ($126.98)

Unread postby Armageddon » Thu 15 May 2008, 11:14:59

$this->bbcode_second_pass_quote('Armageddon', '[')img]http://www.321energy.com/charts/tmp/chart.jpg[/img]



Did we just bomb Iran ?



It was 126.50 when I was trying to copy the url, lol
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