[toolpusher]

the u.s. dollar has just made a downside breakout on the weekly chart, after a long sideways move and a previuos "dandruff" formation.

this is bullish for oil prices. since the u.s. is a huge consumer and importer (this is why the dollar is going down, the twin deficits are killing it), it is putting huge pressure on oil sellers to choke down more and more fiat dollars.

at what point will they vomit and say, jesus christ, we can't take it any more, our production is declining and u are using printing-press produced processed pulp paper to pay us for our non-renewable product, help!

oil stocks made huge gains today, but i would look to buy the commodity. some day, the stocks will be exposed as the wasteing asset that they are, although that day could be yet some way down the road.

[Zardoz]

It's already up to $62.43. Look for $67 by the end of the year, $73 in March, $80 next summer.

[PolestaR]

Apparently heating oil stocks in the US are drawing down causing the price increase. At least that's what the "news" is saying here. Always have to find a reason other than "peak oil fear".

[oilfreeandhappy]

Up over $63, and rising.

http://biz.yahoo.com/ap/061130/oil_prices.html?.v=9

A number of us discussed how oil prices were artificially manipulated prior to the election, to try to bring in votes. For one thing, the Fed tapped the Strategic Oil Reserve, and lowered storage levels.

[nth]

Oil prices will drop down below $58 before it will hit $65.
Angola joining OPEC will be big news and will help rally oil prices at end of year and beginning of next year. Angola joining OPEC means they will get a production cap. Remember this is one of the regions that we are supposed to see lots of new production. Well, those productions will not see full production if they join OPEC.

Rumor has it if they join, they will be capped at 2mbpd. That is a nice half a million more than current rate. But, well below Optimists who think they can produce close to 2.5mbpd or higher.

[Dreamtwister]

$this->bbcode_second_pass_quote('nth', 'O')il prices will drop down below $58 before it will hit $65.

[davep]

$this->bbcode_second_pass_quote('nth', 'O')il prices will drop down below $58 before it will hit $65.

[nth]

$this->bbcode_second_pass_quote('Dreamtwister', '')$this->bbcode_second_pass_quote('nth', 'O')il prices will drop down below $58 before it will hit $65.

[Pablo2079]

Not that there is a direct relationship between crude prices and gas, but I noticed that gasoline was up almost 9% today (11/30).

Nymex Gasoline Future price 181.91 change 14.85 % change 8.89

http://www.bloomberg.com/energy/

[nth]

$this->bbcode_second_pass_quote('davep', '
')
Is there any point in watching every dip and rise of the price of oil? Neither is a counter-argument or proof for peak oil. So long as the price trend continues upwards (which it will do) we will witness the inevitable results of peak oil.

[davep]

$this->bbcode_second_pass_quote('nth', '')$this->bbcode_second_pass_quote('davep', '
')
Is there any point in watching every dip and rise of the price of oil? Neither is a counter-argument or proof for peak oil. So long as the price trend continues upwards (which it will do) we will witness the inevitable results of peak oil.

[Dreamtwister]

$this->bbcode_second_pass_quote('nth', '')$this->bbcode_second_pass_quote('Dreamtwister', '')$this->bbcode_second_pass_quote('nth', 'O')il prices will drop down below $58 before it will hit $65.

[Cobra_Strike]

The rise/fall of prices keeps staying in a trading range...however the bottom/top of that range keeps going up, this is expected, so what? The price will go up/down/up, that is established...The only real question at this point is purely academic, when is/was the peak? That is the only important news.

[Dreamtwister]

$this->bbcode_second_pass_quote('Cobra_Strike', 'T')he only real question at this point is purely academic, when is/was the peak? That is the only important news.

[Cobra_Strike]

$this->bbcode_second_pass_quote('Dreamtwister', '')$this->bbcode_second_pass_quote('Cobra_Strike', 'T')he only real question at this point is purely academic, when is/was the peak? That is the only important news.

[KevO]

$this->bbcode_second_pass_quote('nth', 'O')il prices will drop down below $58 before it will hit $65.

[Retsel]

$this->bbcode_second_pass_quote('', 'A')s far as I'm aware (and I may be wrong), December 2005 is still the high watermark.

[Micki]

Besides optimistic statements, is there any evidence to back up the claims?
2X10 million bbl/day is quite a lot.

Iraq would have to increase their production with more than 500%That would suddenly make them the worlds largest oil producer.

I have learnt to take what Yergin says and my cat craps and put in the same bag. He's not even funny anymore.

[Zardoz]

$this->bbcode_second_pass_quote('Retsel', '.')..Daniel Yergin of Cambridge Energy Associates...

[Dreamtwister]

$this->bbcode_second_pass_quote('Retsel', '')$this->bbcode_second_pass_quote('', 'A')s far as I'm aware (and I may be wrong), December 2005 is still the high watermark.