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Your take on oil?

I

iGas

Diamond Member
I read a few articles that claims oil price is going to hit $90 per barrel this year and possibly $110 by 2011. It is some what a worrisome notation if oil price drive up gas to $1.40~$1.50 CAD a litter ($5.29~$5.67 USD/gallon). That would translate to $600~$800/month for me to commute to/from work on my van, or $350~$450/month if I use my car.

Is oil price going to go up this summer, and that greatly affect gas price?
Mexico & the North Sea oil is dwindeling, so will it affect price for 2010 & 2011?
When will we see $90+ oil price, and when will it reach $100+?
 
P&N is where to go if you want some adequate responses.. but you won't be able to bat anything to change it. It's all with the middle east relations and OPEC, biofuels and everything else accounts for less than some meager percentage.

The best advice I would suggest is look for alternative means of transportation if it really becomes an issue to you, if it's possible. The earlier you can do it, the sooner you can get out of reliance on automobiles.
 
😀

There's no point in worrying about it or even talking about it. I stop at the gas station when I need gas, swipe my card and pump.
 
^ Yup, it's either that or go bike(cycle), get a motorbike, walk or something.

We've got no power over the middle east politics, no point over something you can't control. So that's what alternatives are for.
 
Rudeguy said:
😀

There's no point in worrying about it or even talking about it. I stop at the gas station when I need gas, swipe my card and pump.
Click to expand...

Basically. Only I live in Oregon so the poor bastard working at the gas station has to stand in the freezing ass rain pumping my gas while I get to sit in my warm dry car and crank the tunes :awe:
 
I'm with everyone else in this thread; nobody knows and nobody cares because we can't do anything about it. If you want a real forecast ask somebody that does that sort of thing for a living, most of ATOT doesn't know macroeconomics from plumbing.
 
We can complain or guess all we want, but until society is willing to use alternative power (we have the technology, we just need the motivation) then we're stuck depending on a source of energy controlled by a country half way across the world, which we happen to be at war with. I'm surprised it has not gone up even more TBH.

The first step to moving towards cleaner energy is dropping the patent system - at least for anything energy related. Let everyone use/sell any technology they want, let our creativity be the limit as to what could be our next set of inventions and products. I'm not talking just cars, but all sorts of stuff including power plants.

We have the technology, we just need to kill the politics that stop us from using it.
 
RedSquirrel said:
We can complain or guess all we want, but until society is willing to use alternative power (we have the technology, we just need the motivation) then we're stuck depending on a source of energy controlled by a country half way across the world, which we happen to be at war with. I'm surprised it has not gone up even more TBH.

The first step to moving towards cleaner energy is dropping the patent system - at least for anything energy related. Let everyone use/sell any technology they want, let our creativity be the limit as to what could be our next set of inventions and products. I'm not talking just cars, but all sorts of stuff including power plants.

We have the technology, we just need to kill the politics that stop us from using it.
Click to expand...

The first step is the remove all the crazy government subsidies on oil and gas. The 2nd step is to tax high carbon energy sources to reflect their REAL cost on the environment.
 
I was being told in an environmental seminar last year that petrol supplies look like it should mostly deplete by at most 50-70 years from now. We have no control over demand, since that is where the money is at. Every kid that wants to drive over the world contributes to this growing demand. The one good thing is they have the machinery to figure out where deposits and potential energy is.

World Petrol deposits:
map_proved_oil_566x363.gif


World Petrol consumption (2003):
petrol-consumption-c.gif


You tell me what it says, I'm just showing what I know.
 
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Locut0s said:
The first step is the remove all the crazy government subsidies on oil and gas. The 2nd step is to tax high carbon energy sources to reflect their REAL cost on the environment.
Click to expand...
There are no subsidies on Alberta oil & gas, in fact oil/gas in Alberta is taxed the highest in Canada.
 
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I know gas prices here in Ontario are going to automatically go up 8% regardless of the price of oil. Thank you vary much Premier Dalton McGuinty.
 
Locut0s said:
The first step is the remove all the crazy government subsidies on oil and gas. The 2nd step is to tax high carbon energy sources to reflect their REAL cost on the environment.
Click to expand...

That could work too, but before it's taxed, there should be a clear, better option fully available and transition time, which will only be the case if all energy related patents are unlocked, and no new energy related patents allowed.
 
Locut0s said:
The first step is the remove all the crazy government subsidies on oil and gas. The 2nd step is to tax high carbon energy sources to reflect their REAL cost on the environment.
Click to expand...

Actually, 2nd step is to expand public transportation and car-sharing to provide useful alternatives to excessive driving BEFORE implementing higher taxes (3rd step).

I agree with your idea, but you can't tax the hell out of people without providing them an alternative first. Then, if they still want to pay through the nose to keep driving the same amount, that's their choice.

Edit: Looks like RedSquirrel has the same idea.
 
Listen to me.

You cannot predict when and how far up oil will go, but mark my words, oil over the long run (5+ year) is going up significantly and you need to plan for it.

I think it will linger below 100 for the next 2 years, but when the US economy stabilizes oil will begin to rise.

China's usage of oil is and will skyrocket which will drive up prices even more. There are a lot of "peak oil" nuts out there and I'm not one of them, but logic and economics does state clearly oil is only going upward.

This is all my personal opinion.
 
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