$100 / bbl Crude?
$100 / bbl Crude?
(OP)
So, crude hit $88 a barrel the other day.
Is $100 a barrel crude likely now? By next year?
Is $100 a barrel crude likely now? By next year?
"Do not worry about your problems with mathematics, I assure you mine are far greater."
Albert Einstein
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RE: $100 / bbl Crude?
RE: $100 / bbl Crude?
RE: $100 / bbl Crude?
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That was 1984. It is nice to see (23 years later) that we were right.
David
RE: $100 / bbl Crude?
No you weren't right. You spent a lot of $$$$ on a problem that didn't have any short term reality.
If that company is still using it's 1984 hardware and its 1984 programs ....... if it had been the 70's then the fuel shortage could justify such a panic but what on earth would prompt such a project in the 80's?
What is the peak oil price going to be?
Sure as eggs is eggs it will reach a point beyond which no one can afford it. That point, and the approach to it, will make alternatives cost effective and then you won't be able to give it away.
However, interesting to note that we all have alarmism fatigue.
It wasn't long ago that oil was at $17 (?) and then everyone panicked when it started up toward $70 and sent lots of people into a blue funk.
The oil price is largely controlled by the Cartel, not resource availability... about the only "legal" price fixing (who can argue?) there is.
High oil prices fund exploration and recovery from expensive wells. They also fund wars. There is a point at which someone will figure out it is worth going to war with someone else. That is the value we need to worry about, not some decimal number system quirk that will excite the media into alarming the public.
JMW
www.ViscoAnalyser.com
RE: $100 / bbl Crude?
So the drop in value of the greenback reduces US demand for oil while allowing other countries to imbibe more of the gooey stuff. Time to scan e-bay for a 1981 VW rabbit diesel.Or time to move closer to work.
What I have not yet figured out is why it should matter if the oil producing nation sells the oil for USD or for euros, if the currency is freely available for exchange on the open market.
RE: $100 / bbl Crude?
why do I get one exchange rate when buying dollars and another for selling and pay a commission? So someone can get rich without actually producing anything.
Hey, even when I use my switch card and no real money is used I get clobbered, I get clobbered just for spending my own currency (probably because if I didn't spend my own money I'd have a surplus and if enough people have a surplus the Tax man sees some scope for more taxes..... disposable income is a measure of taxation potential.....
Sorry Engineers, we just had to take JMW away before he became to dangerous to himself and others.
This has been a public service for your benefit.
Your friends at the IRS.
JMW
www.ViscoAnalyser.com
RE: $100 / bbl Crude?
It's true part of the price hike must be speculation. I'm sure a coupe years from now the crude price will drop, just like everything else that's overpriced, eventually...
RE: $100 / bbl Crude?
David
RE: $100 / bbl Crude?
The IRS pulled you
To track back to the OP. My guess is prices will increase to shy of $100/bbl and hold for a bit. Just long enough for some crisis or "disaster" to provide the excuse/reason for it to go over the $100 threshold. It might bounce back and forth there until the public becomes used to the idea before continuing it's onward trek.
Regards,
RE: $100 / bbl Crude?
"United States Secretary of Transportation
In an interview with PBS on August 15, 2007, Mary E. Peters said that riding a bike is not a form of transportation. " and she goes on to say basically there is no reason to support any biking infrastructure.
She also blamed the I-35W Bridge collapse on money wasted on pointless projects like making bike lanes and bike paths.
So with such great gov't support i guess we as stuck buying oil, or getting hit by cars while biking.
RE: $100 / bbl Crude?
Maybe we need to send our great politicians to Belgium for several months to see firsthand where bike riding is a form of transportation. Also, if you don't get out of the way in bike lanes in Belgium and Germany you WILL be hit (just like crossing the street with cars). I was in those countries last month and saw first hand. Also, most people don't lock their bikes because they all basically look alike - model and color.
RE: $100 / bbl Crude?
Better they should see how Belgium is managing without a government... which they have been without for some time now.
http://www
It begs the question, which other coutnries would be better off without their governments?
JMW
www.ViscoAnalyser.com
RE: $100 / bbl Crude?
I came back to the US and thought...gee i will bike only 2 miles to work. That lasted only one day, and so did my bike!
RE: $100 / bbl Crude?
HAZOP at www.curryhydrocarbons.ca
RE: $100 / bbl Crude?
Some manufacture they are moving (to Africa) not simply because of the lower labour rates but to get around the import taxes levied by the US on Chinese exports.
This quote from a Telegraph article:
So while in the UK Two Jags spent part of his day not chasing secretaries, converting motorways (M3) into two lanes with bus and taxi lanes, and, if he had lasted, probably going to a one lane for cars, one for buses and one for bicycles.... the UK has been transformed to cater to cyclists with all sorts of new cycle lanes, shared use of pavements with OAPs, new layouts at junctions and masses of coloured road markings, and yet.... as a significant proportion of road users with a significant involvement in accidents, there are virtually no (enforced) requirements for training, lighting, brakes, speed, insurance, tax or anything else.
All this before the Greens got at all the political parties with the same message of AGW.
JMW
www.ViscoAnalyser.com
RE: $100 / bbl Crude?
This is such an amusing article I posted the link.
I particularly liked Mr Wang:
Er, yes..... and probably like England 20 years ago and the Flying Pigeon Factory will probably go the way of British Leyland.
JMW
www.ViscoAnalyser.com
RE: $100 / bbl Crude?
RE: $100 / bbl Crude?
China's fund paid $3 billion for a stake in private equity firm Blackstone. It said on Oct. 17 that it's interested in a stake in Bear Stearns.
They are also out buying oil properties so they pay today's price rather than the future price.
The next time the speculators leave the market we will see a $20/bbl drop in the price - maybe.
HAZOP at www.curryhydrocarbons.ca
RE: $100 / bbl Crude?
The crude-oil market is in what traders call cotango, meaning futures contracts for a given product are priced higher than that same good for near-term
When the market is in contango, refiners tend to operate at the top of their tanks.
A skilful trader can quite possibly buy a cargo of oil at a rather low price to quickly resell it at a profit, if others need the cargo more than he does and are ready to pay the price. So, it is not rare for a cargo of oil to change ownership during transport, sometimes several times: destined initially for the United States, it is purchased during transport by a refiner in Rotterdam in the Netherlands and finally finishes up at the Fos-sur-Mer refinery, which had a more pressing need for it.
All of these situations are also responsible for oil price increase.
RE: $100 / bbl Crude?
And jmw- the oil price has ALWAYS bee controlled by a cartel: whether that cartel is OPEC or Standard Oil or the Achnacarry 'As is' agreement between the seven sisters....!
RE: $100 / bbl Crude?
Of all the places I have lived Fos Su Mer was one of my favorites (although I guess I just worked there I really lived in Arles).
"Why don't you knock it off with them negative waves? Why don't you dig how beautiful it is out here? Why don't you say something righteous and hopeful for a change?" Oddball, "Kelly's Heros" 1970
Please see FAQ731-376: Eng-Tips.com Forum Policies for tips on how to make the best use of the Eng-Tips Forums.
RE: $100 / bbl Crude?
"Do not worry about your problems with mathematics, I assure you mine are far greater."
Albert Einstein
Have you read FAQ731-376: Eng-Tips.com Forum Policies to make the best use of Eng-Tips Forums?
RE: $100 / bbl Crude?
RE: $100 / bbl Crude?
RE: $100 / bbl Crude?
RE: $100 / bbl Crude?
And we all know why that is
Cheers
Greg Locock
Please see FAQ731-376: Eng-Tips.com Forum Policies for tips on how to make the best use of Eng-Tips.
RE: $100 / bbl Crude?
ht
and speculation