Good & bad news for price of oil.

[StageLeft]

Link

According to this, a 1-2M/day cut is expected so it won't be the end of the world, but that talk about Russia--if they start moving inline with OPEC that can only mean bad news for oil consumers.

Sadly, I have no doubt that the US will consume more foreign oil in 2012 than it does today, even if prices do not fall apart. I don't see any clear path away from it, whether it's from a lack of will in the nation or technology.

 

[brencat]

The biggest downside to cheaper oil is that it makes alternatives like solar less viable as investments.

Now I'm not in any way advocating oil back over $100/bbl. But I think we need to provide the govt incentives similar to how Spain and Germany do for a number of these technologies in their infancy to ensure they get off the ground here in the U.S.

I've said this before and I'll say it again. Let there be no doubt given where oil is trading, that it is the delevering of hedge funds and commodity investors in the past month primarily that has been the biggest reason for the recent decline in the price of oil. Hence, we can therefore also conclude that it was leverage and money flows from said investors, not excess physical demand, that originally drove oil to the moon in the first place.

 

[miketheidiot]

i like oil in about the 70-80 dollar/barrel range.

 

[blackangst1]

If Russia cozy's up with opec, so what? What am I missing? What if Russian becomes PART of OPEC? who cares?

 

[techs]

Scientists have discovered the shortest measurable interval of time.
It's the time between the price of oil dropping and Americans forgetting that we need to do something about the energy crisis.

 

[theeedude]

I think Russia would cut production in response to falling oil prices regardless of OPEC. It just doesn't make economic sense to tap some reserves if oil prices are lower, due to extraction costs. So there is not going to be a glut of cheap oil in the long term.

 

[StageLeft]

Originally posted by: blackangst1
If Russia cozy's up with opec, so what? What am I missing? What if Russian becomes PART of OPEC? who cares?

Seriously?

 

[heyheybooboo]

Originally posted by: Skoorb
Link

According to this, a 1-2M/day cut is expected so it won't be the end of the world, but that talk about Russia--if they start moving inline with OPEC that can only mean bad news for oil consumers.

Sadly, I have no doubt that the US will consume more foreign oil in 2012 than it does today, even if prices do not fall apart. I don't see any clear path away from it, whether it's from a lack of will in the nation or technology.

We cut consumption 20% in the 1970's. No reason we can't do it in the next five years if we put our minds to it ...

 

[CallMeJoe]

Originally posted by: techs
Scientists have discovered the shortest measurable interval of time.
It's the time between the price of oil dropping and Americans forgetting that we need to do something about the energy crisis.

Second shortest. The shortest measurable interval is the time between an anticipated rise in oil prices and an actual rise in pump prices.

 

[dmcowen674]

Originally posted by: Skoorb
Link

According to this, a 1-2M/day cut is expected so it won't be the end of the world, but that talk about Russia--

if they start moving inline with OPEC that can only mean bad news for oil consumers.

Sadly, I have no doubt that the US will consume more foreign oil in 2012 than it does today, even if prices do not fall apart. I don't see any clear path away from it, whether it's from a lack of will in the nation or technology.

Topic Summary: Market has a reduction priced in / Russia cozying up with OPEC?

What? $200 oil

Old news I posted about in my oil thread.

This confirms what I said and what you repudiate so why a post on it?

 

[techs]

Originally posted by: CallMeJoe

Originally posted by: techs
Scientists have discovered the shortest measurable interval of time.
It's the time between the price of oil dropping and Americans forgetting that we need to do something about the energy crisis.

Second shortest. The shortest measurable interval is the time between an anticipated rise in oil prices and an actual rise in pump prices.

hehe.

Actually I took modified from this:

Scientists have discovered the shortest measurable interval of time.
It's the time between the light turning green and the guy behind you honking his horn.

 

[dmcowen674]

Originally posted by: techs
Scientists have discovered the shortest measurable interval of time.

It's the time between the price of oil dropping and Americans forgetting that we need to do something about the energy crisis.

I already posted about the return of the giant pickup trucks and SUV's ads in my oil/gas thread.

It's disusting

 

[blackangst1]

LOL

 

[StageLeft]

Link

Talking about Russia, Iran, Quatar joining for gas. This is similar to how union workers get more power if they can wield more muscle at the same time.

 

[JD50]

Originally posted by: dmcowen674

Originally posted by: Skoorb
Link

According to this, a 1-2M/day cut is expected so it won't be the end of the world, but that talk about Russia--

if they start moving inline with OPEC that can only mean bad news for oil consumers.

Sadly, I have no doubt that the US will consume more foreign oil in 2012 than it does today, even if prices do not fall apart. I don't see any clear path away from it, whether it's from a lack of will in the nation or technology.

Topic Summary: Market has a reduction priced in / Russia cozying up with OPEC?

What? $200 oil

Old news I posted about in my oil thread.

This confirms what I said and what you repudiate so why a post on it?

Skoorb is not predicting $200 oil and $10 gas by Jan. 21 2009 like you did, sorry to dissapoint.

 

[StageLeft]

Oil continues to decline. I read yesterday how the venezuelan and iranian budgets are based on around $70/barrel and they're going to start imploding because in fact even at $100+ they were in a bad state. Russia was better and spent its big monies on savings, to some extent, but will have to recalibrate its plans now, too.

 

[Moonbeam]

There is only one war America should fight and that is the war to go solar.

 

[dmcowen674]

Originally posted by: JD50

Originally posted by: dmcowen674

Originally posted by: Skoorb
Link

According to this, a 1-2M/day cut is expected so it won't be the end of the world, but that talk about Russia--

if they start moving inline with OPEC that can only mean bad news for oil consumers.

Sadly, I have no doubt that the US will consume more foreign oil in 2012 than it does today, even if prices do not fall apart. I don't see any clear path away from it, whether it's from a lack of will in the nation or technology.

Topic Summary: Market has a reduction priced in / Russia cozying up with OPEC?

What? $200 oil

Old news I posted about in my oil thread.

This confirms what I said and what you repudiate so why a post on it?

Skoorb is not predicting $200 oil and $10 gas by Jan. 21 2009 like you did, sorry to dissapoint.

Neither did I. I can't help liars on here from doing what they do.

 

[LegendKiller]

Originally posted by: Skoorb
Oil continues to decline. I read yesterday how the venezuelan and iranian budgets are based on around $70/barrel and they're going to start imploding because in fact even at $100+ they were in a bad state. Russia was better and spent its big monies on savings, to some extent, but will have to recalibrate its plans now, too.

They shot themselves in the dick by letting it get that high. Now they have to deal with the downside. Not only will oil continue to slide because it was a bubble, but it will keep sliding because the higher they keep trying to put it, the more demand is destroyed.

 

[dmcowen674]

Originally posted by: LegendKiller

Originally posted by: Skoorb
Oil continues to decline. I read yesterday how the venezuelan and iranian budgets are based on around $70/barrel and they're going to start imploding because in fact even at $100+ they were in a bad state. Russia was better and spent its big monies on savings, to some extent, but will have to recalibrate its plans now, too.

They shot themselves in the dick by letting it get that high. Now they have to deal with the downside. Not only will oil continue to slide because it was a bubble, but it will keep sliding because the higher they keep trying to put it, the more demand is destroyed.

People didn't stop driving.

 

[andy04]

Please keep in mind that a part of the falling oil price is due to strengthen of the USD. Also I feel since we are the biggest consumer of oil, we indirectly control the oil price!

 

[K1052]

Originally posted by: dmcowen674

Originally posted by: LegendKiller

Originally posted by: Skoorb
Oil continues to decline. I read yesterday how the venezuelan and iranian budgets are based on around $70/barrel and they're going to start imploding because in fact even at $100+ they were in a bad state. Russia was better and spent its big monies on savings, to some extent, but will have to recalibrate its plans now, too.

They shot themselves in the dick by letting it get that high. Now they have to deal with the downside. Not only will oil continue to slide because it was a bubble, but it will keep sliding because the higher they keep trying to put it, the more demand is destroyed.

People didn't stop driving.

Then why did the miles driven in the US fall over the last year while mass transit agencies and Amtrak posted record gains in ridership?

 

[dmcowen674]

Originally posted by: K1052

Originally posted by: dmcowen674

Originally posted by: LegendKiller

Originally posted by: Skoorb
Oil continues to decline. I read yesterday how the venezuelan and iranian budgets are based on around $70/barrel and they're going to start imploding because in fact even at $100+ they were in a bad state. Russia was better and spent its big monies on savings, to some extent, but will have to recalibrate its plans now, too.

They shot themselves in the dick by letting it get that high. Now they have to deal with the downside. Not only will oil continue to slide because it was a bubble, but it will keep sliding because the higher they keep trying to put it, the more demand is destroyed.

People didn't stop driving.

Then why did the miles driven in the US fall over the last year while mass transit agencies and Amtrak posted record gains in ridership?

That does not = everyone stopped driving

 

[K1052]

Originally posted by: dmcowen674



That does not = everyone stopped driving

He didn't say that everyone would stop driving and no rational person would argue that's what he meant. Some people obviously reduced their amount of driving and opted for public trans/regional rail.

 

[MiniDoom]

Originally posted by: dmcowen674

Originally posted by: LegendKiller

Originally posted by: Skoorb
Oil continues to decline. I read yesterday how the venezuelan and iranian budgets are based on around $70/barrel and they're going to start imploding because in fact even at $100+ they were in a bad state. Russia was better and spent its big monies on savings, to some extent, but will have to recalibrate its plans now, too.

They shot themselves in the dick by letting it get that high. Now they have to deal with the downside. Not only will oil continue to slide because it was a bubble, but it will keep sliding because the higher they keep trying to put it, the more demand is destroyed.

People didn't stop driving.

I did. What are you doing to free yourself of oil, Dave?
:roll: