Here go the oil Speculator's again!

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$125?

Many grades of crude oil sold in the US are priced above $125 already, or were until the sell-off of the last several days.

If you are referring to West Texas Intermediate, the main benchmark crude, then you should specify that. And you might specify the timeframe for your prediction. In the next week? month? year? by the end of the decade?
 
" If you are referring to West Texas Intermediate, the main benchmark crude, then you should specify that."

Yes , $125 W.T.I.

" And you might specify the timeframe for your prediction. In the next week? month? year? by the end of the decade? "

I'll speculate , late JULY . Hope , Im wrong .
 
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The idiots were supposed to panic and sell.....Sell....SELL!!

Not buy.....Buy......BUY!!

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I scanned the last few pages of posts. Please consider that the measuring stick you are using to mesaure the price of oil, the Dollar, is changing in length all the time. I am going to give you a different take. Our entire system (political and financial) is a boom bust fraudulent system. This doesn't meant that other systems aren't worse like Communism.

Depressions are a FEATURE of our banking system. The depression follows decades of Inflation. Specifically, fractional reserve lending allows the banks (and in our current case the non-bank financial companies) to take enormous risks and create vast amounts of credit/debt and inflation. If you think about our system, all of our money is debt. Debt backs our money. It is mind blowing.

Couple what I have said with massive growth in the emerging economies and the running out of CHEAP energy, and you can begin to appreciate the wall we have hit. There will be no going back to the "good times" of the 1990's anytime soon.
 
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Right now, if you are in the big money finance world, capital is free. The Federal Reserve sets the short term rate at zero. On top of this, the Federal Reserve is quantitatively easing (money printing). So sure the speculators are taking risks and driving up the prices of stocks and commodities gambling with "free" money.

I believe that the Federal Reserve is bailing out the big banks this way, and is why I do not listen to what they say about the economy.

You and I cannot borrow vast sums at zero percent. Of course this is going to blow up, because for us in the real world, these higher prices are going to cut demand for non-essentials. I just cannot tell you when this is going to blow up.
 
Originally Posted By: X72
I scanned the last few pages of posts. Please consider that the measuring stick you are using to mesaure the price of oil, the Dollar, is changing in length all the time. I am going to give you a different take. Our entire system (political and financial) is a boom bust fraudulent system. This doesn't meant that other systems aren't worse like Communism.

Depressions are a FEATURE of our banking system. The depression follows decades of Inflation. Specifically, fractional reserve lending allows the banks (and in our current case the non-bank financial companies) to take enormous risks and create vast amounts of credit/debt and inflation. If you think about our system, all of our money is debt. Debt backs our money. It is mind blowing.

Couple what I have said with massive growth in the emerging economies and the running out of CHEAP energy, and you can begin to appreciate the wall we have hit. There will be no going back to the "good times" of the 1990's anytime soon.



+1 except for the "running out of cheap energy part". What you have just pointed out is the reason energy is getting expensive just as food and everything else is. It isn't because they are having a hard time finding/retrieving oil and natural gas.
 
I believe that the Federal Reserve is bailing out the big banks this way, and is why I do not listen to what they say about the economy.

The Federal Reserve, the big banks such as J.P. Morgan/Chase who owns Exxon/Mobil and many of the really big oil companies around the world as well as Wall Street are one in the same. It's all one huge interconnected global cabal. The same goes for investment banks like Goldman/Sachs.

The Federal Reserve isn't bailing out the big banks. WE are! The taxpayer has been hung with their losses due to the derivatives that are floating around the globe. The Federal Reserve is made up of the biggest banks such as Bank of America, Wachovia, Wells Fargo, Chase.

They are privately owned and anyone who is paying attention has noticed their profits have risen and they are growing all over the country as smaller private banks are folding. Over in England it's the same type of deal with the Bank of England.

The Federal Reserve is just the American wing of the global central banking system which comprises the IMF, The World Bank and the central bank of ALL the central banks. The Bank of International Settelments which is based in Switzerland. That is why Switzerland has never been attacked in any of the world wars as far as I know.

Exxon/Mobil used to be Standard oil which was owned by the Rockefeller's. Chase Bank is/was owned by the Rockefeller's if I am not mistaken. Exxon/Mobil was sold to J.P. Morgan/Chase. BP is connected the the insanely wealthy in the same way over in England. It is rumored that Queen Beatrix of the Neatherlands owns a huge chunk of BP.

J.D. Rockefeller was the richest man in history when you take inflation of the dollar into account. He got that way by buying off congress for $500,000 and getting the Womens League of Voters riled up over drinking to harass congress into passing prohibition. Prohibition never had anything to do with whiskey and everything to do with J.D. getting a monopoly on the oil market.

The reason was that back when Henry Ford was around the Model-A ran on pure alchohol and Rockefeller owned Standard Oil. The biggest oil company in existence and I think the only one once J.D. "got rid" of any competition. He got his way and ended up with a monopoly on the oil industry here in the states.

The Rockefeller's are still in business everyone and they are just as evil as J.D. was. I suggest looking at THEM and others around the world like them if you want to find the REAL "speculators".

The Rockefeller's also donated the land that the U.N. sits on in N.Y. The U.N. is the reason we are in Lybia right now. Lybia supplies Europe with oil. Hmmmmm. It would be kind of nice to just have it for themselves, wouldn't it? Just like in Iraq. It's easy to do when the country with the oil has a murdering dictator just like Saddam. Look to Venezuala as the next place our military is sent in the future.

The plot continues to thicken to this day. The Rockefeller's and other's like them here and around the globe such as the Morgan's and Carnegie's have been in business a VERY, VERY long time. They just pass down their know how to their heirs.
 
Mexician oil production has peaked, and is now down to half of former production.

Alaskan production has peaked, and is below half of its peak

US continental production has peaked, and despite advanced recovery techniques and seismic studies is down to half of 1970 levels

North Sea oil production has peaked, and is now down below half.

Saudi Arabia has greatly overstated their reserves, and many recent events are beginning to expose their deception, and the reasons for it.

Kuwait has reached peak oil, and is expecting declining output.

Shale reserves are expensive, and the wells tend to go dry in a short time after production begins.

Iran and Irag both have reserves that could increase production, hopefully enough to dampen a huge decline in overall production.

Putting endless efforts into reading and disseminating various conspiracy theory's may feel good - finding others to blame - but does precious little to prepare for the future and solve these serious energy questions.

Conservation, efficient vehicles and insulation, renewable energy and continued exploration for small, difficult to extract conventional oil will all contribute to our future.

Endlessly blaming the federal reserve is futile, they did not drain any of the oil fields listed above. Nor did they buy up all the 200 mpg carburetors, knock down the world trade center, help to cover up UFO's, shoot Kennedy, poison Marilyn Monroe, fake a moon landing or anything else that the conspiracy mongers claim.
 
Originally Posted By: fsskier
Mexician oil production has peaked, and is now down to half of former production.

Alaskan production has peaked, and is below half of its peak

US continental production has peaked, and despite advanced recovery techniques and seismic studies is down to half of 1970 levels

North Sea oil production has peaked, and is now down below half.

Saudi Arabia has greatly overstated their reserves, and many recent events are beginning to expose their deception, and the reasons for it.

Kuwait has reached peak oil, and is expecting declining output.

Shale reserves are expensive, and the wells tend to go dry in a short time after production begins.

Iran and Irag both have reserves that could increase production, hopefully enough to dampen a huge decline in overall production.

Now there you go, giving the speculators more reasons to jack up the price of oil!
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Originally Posted By: Tempest
Mexican oil supply is due to government interference in getting it:
http://www.nytimes.com/2010/03/09/business/global/09pemex.html

Same is true of Venezuela and other places.

Alaska and the rest of our country has the same problem.


Reading the article reveals that:

The old oil fields are giving out....

17 of 20 new wells are dry, the 3 remaining are producing poorly

The government reforms have encouraged foreign firms and investment, but the high costs of offshore drilling...the "potential field of 50 billion barrels" not enough to encourage a gold rush.

lots of technology & investment money chasing smaller and smaller oil fields. Mexican Pemex could easily get the first stuff... goverment "interference" has not made the oil fields run out, just has not encouraged outside companies that are capable finding and financing the small hard to extract fields.

We have out best people and technology in Alaska..... doing everything, watching Alaskan output drop from 2 million barrels a day to under 700,000 now, decreasing 5 per cent per year....

New seismic data shows the arctic preserve to be MUCH smaller than previously thought.... likely though this will still be tapped some day.
 
Quote:
Stumbling blocks remain. The recent reforms do not lift constitutional prohibitions that effectively prevent foreign companies from booking Mexican reserves they help discover, which undermines their incentive to sign deals with Pemex.

And:
Quote:
As a symbol of nationalism and sovereignty, Pemex is run like a government agency, not an oil company. Its budget is set by the Congress, so it cannot plan exploration far in advance. It is burdened by taxes, debt and pension liabilities that limit its ability to spend money discovering new fields.

So as I said....
 
Originally Posted By: fsskier
Endlessly blaming the federal reserve is futile, they did not drain any of the oil fields listed above. Nor did they buy up all the 200 mpg carburetors, knock down the world trade center, help to cover up UFO's, shoot Kennedy, poison Marilyn Monroe, fake a moon landing or anything else that the conspiracy mongers claim.


Unlike all the other phony conspiracies you mention, the Federal Reserve Bank actually publishes -- publicly -- the money supply numbers which are causing inflation now and much more inflation in 12-24 months. Plus they haven't stopped pumping up the money supply.

And despite anything the President might say on his West Coast campaign swing, inflation is caused by monetary factors and not speculators.
 
So there's enough oil that if everybody got "out of the way", we could support perpetual, exponential expansion...forever ?
 
Originally Posted By: Shannow
So there's enough oil that if everybody got "out of the way", we could support perpetual, exponential expansion...forever ?


Not forever. But for a very long time. And oil will probably be cheaper than the alternatives for several more decades.
 
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