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The second oil overlord is coming.

I

iGas

Diamond Member
http://thecitizen.co.tz/business/14-international-business/6877-iran-takes-over-opec-presidency.html]
Iran takes over OPEC presidency

Rising demand should push up crude oil prices in 2011

Many investment banks and commodity analysts have taken a highly bullish stance on crude oil prices for 2011, based largely on economic recovery in the U.S., continued "money-printing" by the Federal Reserve (thereby, weakening the U.S. dollar) and persistent high demand from the emerging markets, particularly China and India.
Indeed, after growing by an estimated 5 percent in 2010, global GDP is expected to expand by 4.2 percent next year; once again, with almost three-quarters of that growth coming from commodity-hungry emerging markets. China and India are anticipated to witness 9 percent and 8.7 percent economic expansion next year, respectively.

For example, Goldman Sachs forecasts oil futures jumping to $105 per barrel in 2011; Morgan Stanley predicts prices will climb above $100.

J.P. Morgan expects oil will cross $100 in the first half of 2011 and surpass $120 before the end of 2012.

"I believe the age of cheap oil is over," said Fatih Birol, chief economist for the International Energy Agency (IEA).
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I'm unloading my financial stocks tomorrow and loading up more coal/oil/minerals.

Add video:

Dr. Fatih Birol on World Energy Outlook post Copenhagen -- oil demand from the EU, US, and Japan is not growing, but China, India, and the rest of the developing countries demand for oil is going up. (bloody distressing statistic)
 
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I think oil will be comparatively expensive in the US, primarily because of inflation and increased global demand coupled with a relatively slow increase in supply. Once a certain price point is hit, it will become expensive globally and idiots will realize that the environmental stupidity in place really is having a huge, negative impact on the economy. This epiphany will come too late to stave off another recession, but it will result in deregulation and rapid increase in domestic production.
 
CycloWizard said:
I think oil will be comparatively expensive in the US, primarily because of inflation and increased global demand coupled with a relatively slow increase in supply. Once a certain price point is hit, it will become expensive globally and idiots will realize that the environmental stupidity in place really is having a huge, negative impact on the economy. This epiphany will come too late to stave off another recession, but it will result in deregulation and rapid increase in domestic production.
Click to expand...

How do you look at yourself in the mirror after spewing such crap?

There is oil all over the fucking place with over 30 yr highs and no where to put hundreds of tankers full of oil. What would more domestic production do?

Why do you personally call it a supply problem when the world clearly points to the rich boys boys playing games on the stock market?

Serious brain problem you have there, you should check into a hospital.
 
Oh Goldman Sachs your greed is delightful. Looks like financial reform did nothing for the absurd speculation in commodities.
 
dmcowen674 said:
How do you look at yourself in the mirror after spewing such crap?

There is oil all over the fucking place with over 30 yr highs and no where to put hundreds of tankers full of oil. What would more domestic production do?

Why do you personally call it a supply problem when the world clearly points to the rich boys boys playing games on the stock market?

Serious brain problem you have there, you should check into a hospital.
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Are you serious?

Did you watch the video?

It may look like there is a glut in oil because the US demand is not going up as rapidly as before and natural gas production is increasing. However, oil demand is going up in developing countries, China, and India which will drive the market oil price up.
 
iGas said:
Are you serious?

Did you watch the video?

It may look like there is a glut in oil because the US demand is not going up as rapidly as before and natural gas production is increasing. However, oil demand is going up in developing countries, China, and India which will drive the market oil price up.
Click to expand...

More domestic production wouldn't even add a drop to the global oil bucket...
 
iGas said:
http://thecitizen.co.tz/business/14-international-business/6877-iran-takes-over-opec-presidency.html]
Iran takes over OPEC presidency

Rising demand should push up crude oil prices in 2011


I'm unloading my financial stocks tomorrow and loading up more coal/oil/minerals.

Add video:

Dr. Fatih Birol on World Energy Outlook post Copenhagen -- oil demand from the EU, US, and Japan is not growing, but China, India, and the rest of the developing countries demand for oil is going up. (bloody distressing statistic)
Click to expand...

Oh ya, I just wired some more money into my trading account. Waiting for a minor correction in Suncor before going in hard. It's been my best earner so far in the past 2 months. I screwed up and sold too early during the current rally; North Korea made me jittery after gaining and losing over 5% in 3 days.
 
Imp said:
Oh ya, I just wired some more money into my trading account. Waiting for a minor correction in Suncor before going in hard. It's been my best earner so far in the past 2 months. I screwed up and sold too early during the current rally; North Korea made me jittery after gaining and losing over 5% in 3 days.
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Me too I just fired some more money into my trading account.

At the moment I'm holding 600 SU shares, and I'm thinking of going hard on AVL once the price precede a little. I missed the jackpot on AVL (TSX) & RES (Vancouver) this past 2~3 months because I was way too busy to watch my stocks.

RES was $2 in July 2010, and now it is $16.

PS. It look like RES have some kind of tie with AVL. I'm looking into it but I haven't seen anything that indicated so, however it price move exactly the same as AVL for some reason. And my best earner in the last 2~3 months was TCK & GCE.
 
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Generator said:
Oh Goldman Sachs your greed is delightful. Looks like financial reform did nothing for the absurd speculation in commodities.
Click to expand...

This.

Oil is on the rise again not from dramatic uptick in foreign use of oil from China or India, nor from the 'collapse' of the US dollar. Rather, oil is rising again thanks to a resurgence in energy index speculation, which was primarily responsible for driving oil to $140/bbl back in 2008 while there were NO SHORTAGES anywhere.

The growth of energy index speculation starting in 2008 (before the bubble popped) was brought to you courtesy of Goldman Sachs, who as early as 1983, laid the groundwork by chipping away at long standing regulations (via 16 exception letters granted to them over 25 years IIRC) that prevented speculators from having too great an influence over actual producers in the commodities markets.

The energy bubble is starting to reflate again and it's not because of significantly more usage of oil globally. It's fvcking speculation...again.
 
brencat said:
This.

Oil is on the rise again not from dramatic uptick in foreign use of oil from China or India, nor from the 'collapse' of the US dollar. Rather, oil is rising again thanks to a resurgence in energy index speculation, which was primarily responsible for driving oil to $140/bbl back in 2008 while there were NO SHORTAGES anywhere.

The growth of energy index speculation starting in 2008 (before the bubble popped) was brought to you courtesy of Goldman Sachs, who as early as 1983, laid the groundwork by chipping away at long standing regulations (via 16 exception letters granted to them over 25 years IIRC) that prevented speculators from having too great an influence over actual producers in the commodities markets.

The energy bubble is starting to reflate again and it's not because of significantly more usage of oil globally. It's fvcking speculation...again.
Click to expand...

But but but you heard Cyclo and the rest of the Republican P&N Oil experts, there is a supply problem.

Shirley they can't be wrong
 
CycloWizard said:
I think oil will be comparatively expensive in the US, primarily because of inflation and increased global demand coupled with a relatively slow increase in supply. Once a certain price point is hit, it will become expensive globally and idiots will realize that the environmental stupidity in place really is having a huge, negative impact on the economy. This epiphany will come too late to stave off another recession, but it will result in deregulation and rapid increase in domestic production.
Click to expand...
What makes you think there's much oil to be had in America? There isn't.
 
zephyrprime said:
What makes you think there's much oil to be had in America? There isn't.
Click to expand...

There's shit-tons of oil in the US, in our waters, and in international waters. There's so much oil in the gulf and off of California that's it's seeping out on its own: http://www.nap.edu/openbook.php?record_id=10388&page=191

Not to mention that we have the single largest oil shale deposit in the entire world. And by that, I mean that estimates are that the oil shale deposit in the US alone is estimated to be more than the entire amount of proven crude oil deposits left in the world. (http://en.wikipedia.org/wiki/Oil_shale_reserves)

Not only that, but we get most of our oil from CANADA, meaning that there's probably a hell of a lot more oil deposits in the US than we've found.

We could, if we wanted to, become entirely energy self-sufficient. Just think of how many jobs THAT would create.
 
Sigh. I knew you guys would make the predictable replies you made about oil. So uneducated. You're just talking the entirely manufactured line from the oil industry about how awesome it would be to drill more in the US.

There are a mere 18 billion additional barrels of re of oil in all the currently restricted offshore oil regions in the US. Saudi Arabia on the other hand has 267 Billion barrels of oil. The US just doesn't have a lot of oil. Sorry to dash your fantasies of being the next Jed Clampett.
http://www.scientificamerican.com/article.cfm?id=can-offshore-drilling-make-us-independent

Now on the other hand, the US does have a lot of oil shale. Yes, if anyone can figure out how to cheaply extract that stuff, we would be energy independent. Of course, people have been trying to do that for the last 150 years and failing.
http://en.wikipedia.org/wiki/History_of_the_oil_shale_industry
 
zephyrprime said:
Sigh. I knew you guys would make the predictable replies you made about oil. So uneducated. You're just talking the entirely manufactured line from the oil industry about how awesome it would be to drill more in the US.

There are a mere 18 billion additional barrels of re of oil in all the currently restricted offshore oil regions in the US. Saudi Arabia on the other hand has 267 Billion barrels of oil. The US just doesn't have a lot of oil. Sorry to dash your fantasies of being the next Jed Clampett.
http://www.scientificamerican.com/article.cfm?id=can-offshore-drilling-make-us-independent

Now on the other hand, the US does have a lot of oil shale. Yes, if anyone can figure out how to cheaply extract that stuff, we would be energy independent. Of course, people have been trying to do that for the last 150 years and failing.
http://en.wikipedia.org/wiki/History_of_the_oil_shale_industry
Click to expand...

Looking for and finding oil is very expensive and requires highly skilled people to do it. Even then you gotta actually drill a hole to make sure you are right.

Wanna know where oil companies do NOT spend many dollars looking for oil? Places that they can't extract it...

We continually find huge fields in the relatively small area we are allowed to drill for oil. We could easily end our dependence on ME oil if we wanted to, wouldn't do a damned thing for prices but it would increase national security in a big way and provide a ton of good paying jobs.
 
bamacre said:
I wish these damn speculators would just save their money under a mattress like the rest of us.
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No cut their taxes so they have more money to invest in commodities. Sure it will bump up the price of gas for the rest of us but somewhere along the line it will trickle down to the common man.
 
The US won't ever be energy independant with oil. period.

Therefore it will forever be at peril of global markets for as Zebo said in the other thread 'THEE commodity' Now you can blame speculators, supply conditions, politcal instabilities whatever.
The sooner serious attempts are made to break out of needing oil the sooner the billions of dollars stop leaving the economy to generally inhospitible countries stop.
 
zephyrprime said:
Sigh. I knew you guys would make the predictable replies you made about oil. So uneducated. You're just talking the entirely manufactured line from the oil industry about how awesome it would be to drill more in the US.

There are a mere 18 billion additional barrels of re of oil in all the currently restricted offshore oil regions in the US. Saudi Arabia on the other hand has 267 Billion barrels of oil. The US just doesn't have a lot of oil. Sorry to dash your fantasies of being the next Jed Clampett.
http://www.scientificamerican.com/article.cfm?id=can-offshore-drilling-make-us-independent

Now on the other hand, the US does have a lot of oil shale. Yes, if anyone can figure out how to cheaply extract that stuff, we would be energy independent. Of course, people have been trying to do that for the last 150 years and failing.
http://en.wikipedia.org/wiki/History_of_the_oil_shale_industry
Click to expand...
Oil and oil equivalents. We have more oil equivalents in coal than Saudi Arabia does in oil. At some point, coal liquefaction becomes financially viable and is a proven technology. That doesn't even consider all of the other possibilities which aren't yet technologically feasible on a grand scale.
 
Oil has us so screwed for the future that its scary. We depend on it for everything we do and everything we have. Someone has to light a fire under companies to start using something else and not wait till we do run out or it will be a disaster. And no moving to electric cars isn't solving anything. All electric cars do is consume that same oil in a different way. Like the energy saving idea that moves us to LED lighting that produces more waste and toxins than glass light bulbs ever could. It makes the bill each month cheaper and they don't have to build new power plants so that must be good right ! Tell that to all the fish and wildlife dying from the arsenic, gallium, cyanide used to make those LED lights.


The energy policy in the world right now is just a shell game , moving the concerns to another area and claiming victory.
 
All oil equivalents are way more expensive than oil , yes even coal gasification cause if it was cheaper and easier they'd be doing it already.
We aren't running out of energy, we are running out of cheap energy and every time energy get above a certain threashhold it sh1tcans the economy.
 
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