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Old 11-29-2015, 12:21 AM
 
5,760 posts, read 11,510,699 times
Reputation: 4949

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Quote:
Originally Posted by Dopo View Post
Hilarious,
ok, so people are going to ditch cars and do what?

If gasoline gets too expensive, the first thing people are going to do is car pool.
With 4 people in your car, you cut the cost of gasoline to 25%.
You really don't follow?

I am not sure if you are being trollish, or really do not understand and are seeking knowledge?
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Old 01-08-2016, 01:14 AM
 
19 posts, read 14,537 times
Reputation: 33
Quote:
Originally Posted by kidicarus89 View Post
Oil is never going to be 200-300 bucks probably....ever. Unless some catastrophic war or event destroys production globally.
Truely....at least with the current flooded oil market, the supply and demand imbalance definitely does not seem to boost the oil prices. But, the geopolitical tensions may bring it up.
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Old 01-08-2016, 05:53 PM
 
3,491 posts, read 6,945,118 times
Reputation: 1736
Just to clarify I know oil wont be up again anytime soon....I was just referring to like a possibly distant time in the future where maybe theres war and already short supply def not anytime soon.Thanks.
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Old 01-09-2016, 07:36 AM
 
Location: Austin, Texas
1,985 posts, read 3,306,439 times
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Quote:
Originally Posted by teachersoot View Post
Truely....at least with the current flooded oil market, the supply and demand imbalance definitely does not seem to boost the oil prices. But, the geopolitical tensions may bring it up.
Actually, the current thought seems to be that geopolitical tensions (aka the Saudi Arabia & Iran conflict) may lead to higher output as each try to undermine the economy of the other. We're likely to see oil hit the $20s very very soon.
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Old 01-10-2016, 09:25 AM
 
5,760 posts, read 11,510,699 times
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Quote:
Originally Posted by Austinite101 View Post
Actually, the current thought seems to be that geopolitical tensions (aka the Saudi Arabia & Iran conflict) may lead to higher output as each try to undermine the economy of the other. We're likely to see oil hit the $20s very very soon.
Pretty much what I am sniffing, too.

The cycle (up or down) never seems to stop until someone (some buyers on the High Side, or some producers on the Low Side, fall off).

Saudi knows numbers, and the numbers are saying it will be the Producers in the US who fall off, first.

The US would be soooo much smarter to just quit Oil and get out of this game.

But an Addict does not quit until the Pain of staying gets worse than the of quitting.

Aint there . . . yet.
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Old 01-11-2016, 10:36 AM
 
7,912 posts, read 7,762,469 times
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Since the thread started oil is down nearly 33%! Well hit 30 a barrel pretty soon.

If it goes into the $20's well there you go.

Saudi arabia is selling off non oil assets already SABIC moved out of Pittsfield Mass. Iran has plenty of oil just sitting there. Russia can as well. Taking sanctions off both will cause a further decline.

Oil is priced in dollars for the most part. Currencies connected to the dollar feel the same effects as the USA does. Unpegging can create serious issues. When the sanctions were on Haiti in the 90's I knew people that told me gas was $50 a gallon!

I'd look not so much at supply but demand. If China doesn't know what they are doing and the yuan continues to drop that means higher oil prices (oil is in dollars). The yuan is going up. china now has the highest oil prices in the past five years.
http://finance.yahoo.com/echarts?s=USDCNY%3DX+Interactive#{"range":"max","a llowChartStacking":true}

If this stays to return what it was we could see another 27% drop in oil. Beyond that and well I wouldn't be surprised to see some that know how to frak be sought after. Geologists could end up being held like some prize out of a James Bond film.
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Old 01-14-2016, 04:27 AM
 
Location: Between West Chester and Chester, PA
2,802 posts, read 3,176,224 times
Reputation: 4900
I've been up to Cheyenne, WY and down to NM a lot in the last ten days. There a bunch of brand new leases along the I-25 corridor north of Denver. There are at least three active drill rigs operating between Denver and Ft. Collins. One of them is right along the SB I-25 service road. I don't know if they're fracking or oil rigs. Saw quite a few Bakken oilfield based companies along the 25 corridor.
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