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Posted: 1/26/2009 4:32:11 PM EST
Here I am thinking it will go up again because the low prices will pump up demand again and I am thinking OPEC will do something sneaky to lower supply.


Your thoughts?
Link Posted: 1/26/2009 4:34:01 PM EST
i hope it stabilizes to a reasonable amount. not too high, but just enough to keep the oil industry going. theres alot of jobs at risk here in america.
Link Posted: 1/26/2009 4:34:15 PM EST
Quoted:
Here I am thinking it will go up again because the low prices will pump up demand again and I am thinking OPEC will do something sneaky to lower supply.


Your thoughts?



It'll stay flat for a while then it will creep back up. I don't think we'll see $140's again for years maybe even a decade.

Link Posted: 1/26/2009 4:34:39 PM EST
Hopefully stay about where it's currently at.

-X
Link Posted: 1/26/2009 4:34:51 PM EST
As we become less oil dependant it will hit 30 bucks a barrel and the Arabs will have to start drinking it.
Link Posted: 1/26/2009 4:35:14 PM EST
IBD_A

In Before Dave_A
Link Posted: 1/26/2009 4:36:51 PM EST
Quoted:
IBD_A

In Before Dave_A


WTPIAIYGTSIOA?

What's the point in abbreviating if you're going to spell it out anyway?

Link Posted: 1/26/2009 4:37:27 PM EST
Not too bad for the rest of the year. When the efects of the cut production take effect it will shoot back up.
Link Posted: 1/26/2009 4:38:09 PM EST
Quoted:
Quoted:
Here I am thinking it will go up again because the low prices will pump up demand again and I am thinking OPEC will do something sneaky to lower supply.


Your thoughts?



It'll stay flat for a while then it will creep back up. I don't think we'll see $140's again for years maybe even a decade.



I think you are a little optomisitic to think it will take a decade to go back to $140. All you need is a little inflation, a debased dollar, and China plus India ramping up.

Link Posted: 1/26/2009 4:39:13 PM EST
Quoted:
Quoted:
IBD_A

In Before Dave_A


WTPIAIYGTSIOA?

What's the point in abbreviating if you're going to spell it out anyway?



So people know what it means, from now on it stays abbreviated.

Link Posted: 1/26/2009 4:42:23 PM EST
Watch.  Most missed it, but I saw it.  You can say "The bubble burst", or "Supply and demand" or whatever bullshit you want to come up with.

Oil started going down like a drunk girl on prom night THE VERY DAY the offshore drilling ban expired.

Obama will sign a new one shortly.  Watch the price of oil then, and get back to me.



With McCain erasing Obama's lead and America screaming to "Drill Now!", the ban expired and OPEC said "Oh Shit!"  Wait untill the Kenyan gives us a new ban.  The rest of the world will say "See, they didn't mean it.  Back to $100 per barrel!!!"
Link Posted: 1/26/2009 5:05:13 PM EST
Quoted:
Watch.  Most missed it, but I saw it.  You can say "The bubble burst", or "Supply and demand" or whatever bullshit you want to come up with.

Oil started going down like a drunk girl on prom night THE VERY DAY the offshore drilling ban expired.

Obama will sign a new one shortly.  Watch the price of oil then, and get back to me.



With McCain erasing Obama's lead and America screaming to "Drill Now!", the ban expired and OPEC said "Oh Shit!"  Wait untill the Kenyan gives us a new ban.  The rest of the world will say "See, they didn't mean it.  Back to $100 per barrel!!!"


There is enough offshore oil in the US to be a threat to OPEC suppremacy? We dont get much news on top of my mountain. What little internet time I have is spent on Arfcom
Link Posted: 1/26/2009 5:09:01 PM EST
Quoted:
Quoted:
Watch.  Most missed it, but I saw it.  You can say "The bubble burst", or "Supply and demand" or whatever bullshit you want to come up with.

Oil started going down like a drunk girl on prom night THE VERY DAY the offshore drilling ban expired.

Obama will sign a new one shortly.  Watch the price of oil then, and get back to me.



With McCain erasing Obama's lead and America screaming to "Drill Now!", the ban expired and OPEC said "Oh Shit!"  Wait untill the Kenyan gives us a new ban.  The rest of the world will say "See, they didn't mean it.  Back to $100 per barrel!!!"


There is enough offshore oil in the US to be a threat to OPEC suppremacy? We dont get much news on top of my mountain. What little internet time I have is spent on Arfcom


Yes, just look at how the eco-frauds said there was little to nothing in the Gulf of Mexico before we drilled there. Off shore of CA and in Alaska we have enough to make a big hit. The biggest thing is the speculation on oil. It is mostly the idea that the US is moving away from needing oil from OPEC that will make them keep prices down. We are also the Middle East of NG.

Drilling in the short term to hold us over until a conversion to NG for cars/trucks is the only way. There is not any other fuel that could be put in the tank of a car for at least a decade that would be able to compete with NG based on cost and availability. Electric and Hydrogen is a joke without nuclear plants to create electricity for charging the cars or the production of hydrogen. So anyway to look at it, its the libs holding us back from solving this problem with the solutions we have had for the last 30-40 years.

Obama, the house, and congress will not allow,
-Nuclear power
-Domestic drilling
-incentives to switch to NG


We are fucked without a cheap and reliable energy supply.
Link Posted: 1/26/2009 5:12:42 PM EST
Gone up 20 cents in the last week

FUCK OBAMA
FUCK NY
FUCK NYS SENATORS
FUCK NYS REPS
FUCK THE PEOPLE WHO VOTED THEM
FUCK THE OIL COUNTRIES
Link Posted: 1/26/2009 5:45:56 PM EST
Quoted:
Quoted:
Quoted:
Here I am thinking it will go up again because the low prices will pump up demand again and I am thinking OPEC will do something sneaky to lower supply.


Your thoughts?



It'll stay flat for a while then it will creep back up. I don't think we'll see $140's again for years maybe even a decade.



I think you are a little optomisitic to think it will take a decade to go back to $140. All you need is a little inflation, a debased dollar, and China plus India ramping up.



Granted that if it will go back that high again... what time line are we talking about? Months, Years, Decades?
Link Posted: 1/26/2009 6:31:04 PM EST
Going up. Maybe way up.  Obama is inflating the economy, this is causing gold, silver and oil to rose, along with interest rates.
Link Posted: 1/26/2009 6:32:22 PM EST
Quoted:
Going up. Maybe way up.  Obama is inflating the economy, this is causing gold, silver and oil to rose, along with interest rates.


+1


Link Posted: 1/26/2009 6:39:03 PM EST
Quoted:
Going up. Maybe way up.  Obama is inflating the economy, this is causing gold, silver and oil to rose, along with interest rates.


Pres Barry O is ATTEMPTING to inflate the economy.  I remain very fearful we will actually deflate.



5sub

Link Posted: 1/26/2009 6:42:01 PM EST
Link Posted: 1/26/2009 6:42:02 PM EST
Quoted:
i hope it stabilizes to a reasonable amount. not too high, but just enough to keep the oil industry going. theres alot of jobs at risk here in america.


About $75.00/barrel is where oil should stabilize for the greater good.




5sub

Link Posted: 1/26/2009 6:42:54 PM EST
Link Posted: 1/26/2009 6:44:02 PM EST
Quoted:
Gone up 20 cents in the last week

FUCK OBAMA
FUCK NY
FUCK NYS SENATORS
FUCK NYS REPS
FUCK THE PEOPLE WHO VOTED THEM
FUCK THE OIL COUNTRIES



More like $10.  This is OIL.  Not gasoline.  Or diesel.

Uncertainty.
Link Posted: 1/26/2009 6:44:37 PM EST
Quoted:
What did oil close at today?


$45
Link Posted: 1/26/2009 6:49:10 PM EST
I need to print up bumper stickers that say:

"When Bush left office gas was $1.46 a gallon."
Link Posted: 1/26/2009 6:49:51 PM EST
Link Posted: 1/26/2009 6:56:51 PM EST
Quoted:
Quoted:
Quoted:
What did oil close at today?


$45

Back to what the Lawyers told me.

They claim $70.00 + per barrel is good for opening and drilling a new well due to the dpeths they have to drill in North Dakota
On average it is about $3 Million to drill down 2.5 miles and get a pump and tanks set up

Honestly in my opinion, our economy at this time really cant afford $70.00+ per barrel for oil



That Baaken Field is a THIN deposit and to make the well produce, they need several hundred feet of lateral in the directional drilling PLUS a good bit of fracturing/stimulation.  It costs so much to do because this is bleeding edge drilling.  But eventually, it will get cheaper.
Link Posted: 1/26/2009 6:57:00 PM EST
Quoted:
Quoted:
Quoted:
i hope it stabilizes to a reasonable amount. not too high, but just enough to keep the oil industry going. theres alot of jobs at risk here in america.


About $75.00/barrel is where oil should stabilize for the greater good.




5sub


The Lawyers in No Dak told me that back in November


OPEC needs roughly $52/barrel to run their countries.  The difference between $52 and $75 will allow for much needed infrastructure expansion to insure future demand can be met.

Russia......Iran........Venezuela...............$75/barrel will not allow these 3 countries the revenue to fund their economies and I would expect destabilization may occur.  Don't care about governments being destabilized in Iran and Venezuela but I'm not so sure about Russia.




5sub

Link Posted: 1/26/2009 6:58:48 PM EST
I tell you what. Make the price of gas $1 per gal and we will step up our demand for it. This will give you all the money you should want. Just feed our need. V8's!. Loud gas guzzling v8's for everyone.
Link Posted: 1/26/2009 7:00:08 PM EST
Quoted:
Here I am thinking it will go up again because the low prices will pump up demand again and I am thinking OPEC will do something sneaky to lower supply.


Your thoughts?


OPEC will lower supply......already has and will again.  The US government acts in conjuntion with OPEC and forbids drilling to also lower supply.




5sub

Link Posted: 1/26/2009 7:01:41 PM EST
no money to increase demand with.  prices stay down regardless of production cuts.  and it will be difficult to increase prices with production scaled well below capacity either.
Link Posted: 1/26/2009 7:03:09 PM EST
Quoted:
Quoted:
i hope it stabilizes to a reasonable amount. not too high, but just enough to keep the oil industry going. theres alot of jobs at risk here in america.


About $75.00/barrel is where oil should stabilize for the greater good.




5sub



hopefully by June.
Link Posted: 1/26/2009 7:12:39 PM EST
Quoted:
no money to increase demand with.  prices stay down regardless of production cuts.  and it will be difficult to increase prices with production scaled well below capacity either.


i work DIRECTLY with the completion side of the oil industry. my company has MOST of the contracts to complete the connection from the drilling of the wells to the production/refininig side of the industry in the gulf of mexico.

in a nutshell, the major oil companies build the oil producing platforms and install them, then contract out drillers to punch holes to the oil pockets via drilling rigs. We then work with the pipeline layers to connect the well with the production facility which separates the crude product, then pumps it to shore to be refined.

We have work booked through 2010. there is no shortage of supply or demand. Dont listen to the media otherwise.
Link Posted: 1/26/2009 7:16:27 PM EST
I believe we will be seeing $4.00 a gallon a lot sooner than we think.
Link Posted: 1/26/2009 7:17:13 PM EST
Quoted:
Quoted:
no money to increase demand with.  prices stay down regardless of production cuts.  and it will be difficult to increase prices with production scaled well below capacity either.



We have work booked through 2010. there is no shortage of supply or demand. Dont listen to the media otherwise.


you're right, but there's not the kind of demand to drive a large increase in the price either.  Americans scaled back on discretionary driving when gas was ~$4/gal, and have since found other ways to spend the money they are saving with gas at $1.50/gal, either that, or they have significantly less money than they did 8 months ago.  LOTS of people have lost their jobs since then, and more are either taking pay cuts, or sweating layoffs.  doesn't look like a lot of people are planning a road trip any time soon.
Link Posted: 1/26/2009 7:22:03 PM EST
Quoted:
Quoted:
Quoted:
no money to increase demand with.  prices stay down regardless of production cuts.  and it will be difficult to increase prices with production scaled well below capacity either.



We have work booked through 2010. there is no shortage of supply or demand. Dont listen to the media otherwise.


you're right, but there's not the kind of demand to drive a large increase in the price either.  Americans scaled back on discretionary driving when gas was ~$4/gal, and have since found other ways to spend the money they are saving with gas at $1.50/gal, either that, or they have significantly less money than they did 8 months ago.  LOTS of people have lost their jobs since then, and more are either taking pay cuts, or sweating layoffs.  doesn't look like a lot of people are planning a road trip any time soon.


i think this has alot to do with it.
Link Posted: 1/26/2009 7:28:28 PM EST
Up or down, but it might also stay the same.
Link Posted: 1/26/2009 7:40:13 PM EST
It will bounce around a few bucks up or down at a time but shouldn't make the insane
overnight speculative jumps it was making last summer.   At least not till the economy recovers to an extent and the market gamblers have some more cash to speculate with and decide that pumping the old oil whore might be fun again.
Link Posted: 1/26/2009 8:39:24 PM EST
Well, I didn't notice any reduction in driving over the weekend.  Got STUCK in Chinatown traffic in West Houston.  I detoured because I-10 was shut down at 99 west of Katy.  Son of a bitch, that SUCKED.  Chinese New Year weekend.

Then coming back, I needed to drop deuce and since Bucee's in Luling has the best johns and it was rather cool, I held off dropping a barak until then.  Fucking parking lot was FULL and there were suckers paying big bucks on 16 kinds of jerkey.  Fortunately, the johns were clean and pleasant.  Until I had to wipe my biden...  That was one stinky barak.
Link Posted: 1/26/2009 8:42:03 PM EST
I don't know what oil prices will settle out at but I have been watching gas prices sneaking back up.

Up $.35 or so from the lowest and creeping up a couple of cents a day. It would not surprise me to see gas well over $3.00 a gallon by summer 09.

That does not include any changes in the fed gas tax that obamer might put in place to help fight global warming
Link Posted: 1/26/2009 8:53:23 PM EST
Quoted:
Quoted:
Watch.  Most missed it, but I saw it.  You can say "The bubble burst", or "Supply and demand" or whatever bullshit you want to come up with.

Oil started going down like a drunk girl on prom night THE VERY DAY the offshore drilling ban expired.

Obama will sign a new one shortly.  Watch the price of oil then, and get back to me.



With McCain erasing Obama's lead and America screaming to "Drill Now!", the ban expired and OPEC said "Oh Shit!"  Wait untill the Kenyan gives us a new ban.  The rest of the world will say "See, they didn't mean it.  Back to $100 per barrel!!!"


There is enough offshore oil in the US to be a threat to OPEC suppremacy? We dont get much news on top of my mountain. What little internet time I have is spent on Arfcom



There are over 2 trillion barrels of oil within our nation's borders not including drilling...
Link Posted: 1/26/2009 8:55:53 PM EST
upwards, out of the ground.  Then through the pipes to the refineries.
Link Posted: 1/26/2009 8:58:24 PM EST
I'm hoping the effort to get the alternative fuels gets off the ground a little more so that even if the oil does go back up it won't play as large a role as it did previously. What is scary is that with the current economy the companies that were starting up with reliable and feasible alt-energy cars are going belly up or have become stagnant. The changes that are trying to be made right now, or yesterday, should have been attempted at full throttle a couple of decades ago. Now even though the necessity is there the financial ability to make those inventions come to fruition is all the more distant. What I see on a larger scale is even more pitiful, but whatever, I've got to get some sleep.
Link Posted: 1/26/2009 9:00:06 PM EST
It has to go up eventually, reflecting the inflation that we are destined for.

Right now, we are in a deflationary period, but I don't see how it can last very long.
Link Posted: 1/26/2009 10:03:34 PM EST
Quoted:
Here I am thinking it will go up again because the low prices will pump up demand again and I am thinking OPEC will do something sneaky to lower supply.


Your thoughts?


Well seeing as how the low oil prices directly resulted in the loss of my high paying job, I'd say it sucks right now. The oil industry made some huge cutbacks. It's so cheap nobody makes any money producing it right now.
Link Posted: 1/27/2009 2:32:44 AM EST
Oil reached $140.00 because of market manipulation.  I hope it stays around $45.00 per barrel. Oil refineries have cut prodution to raise gas prices. Gas has went up over .20 per gallon here in a month. By the way, China and India were never factors.
Speculators were just speculating!
Link Posted: 1/27/2009 3:16:22 AM EST
the oil prices will go up






the oil prices will go down
Link Posted: 1/27/2009 3:40:07 AM EST
The price will be based upon supply and demand.

The US and the world's economies are now spiraling out of control as a result of layoffs.

Oil will sell for $15 to $20 per barrel with gasoline at less than a dollar a gallon and the average person will not be able to afford to buy it.
Link Posted: 1/27/2009 3:53:23 AM EST
Quoted:
The price will be based upon supply and demand.

The US and the world's economies are now spiraling out of control as a result of layoffs.

Oil will sell for $15 to $20 per barrel with gasoline at less than a dollar a gallon and the average person will not be able to afford to buy it.


This could happen.
But I think there's still a lot of wealth to be wrung out of our economy before we see this.  The world's economy is spiraling out of control because the global economy (capitalism) runs on two things; credit + cheap energy.  The credit markets have been wrecked and oil spiked upwards over '07 and especially in '08.

Right now, oil is selling at a very low inflation adjusted price.  It is also selling at below replacement cost.  The price "has" to go up.  And everyone better be praying real hard that it does, because if it doesn't, it will be because there is no global (or U.S.) economy left to support it; or to support me, or YOU, or anyone else.
Link Posted: 1/27/2009 4:09:43 AM EST
Quoted:
Quoted:
The price will be based upon supply and demand.

The US and the world's economies are now spiraling out of control as a result of layoffs.

Oil will sell for $15 to $20 per barrel with gasoline at less than a dollar a gallon and the average person will not be able to afford to buy it.


This could happen.
But I think there's still a lot of wealth to be wrung out of our economy before we see this.  The world's economy is spiraling out of control because the global economy (capitalism) runs on two things; credit + cheap energy.  The credit markets have been wrecked and oil spiked upwards over '07 and especially in '08.

Right now, oil is selling at a very low inflation adjusted price.  It is also selling at below replacement cost.  The price "has" to go up.  And everyone better be praying real hard that it does, because if it doesn't, it will be because there is no global (or U.S.) economy left to support it; or to support me, or YOU, or anyone else.


It sounds like you are expecting (or praying) that the economy is going to turn around overnight.  There is simply no way that this will happen.  It would take a leader to accomplish that and we have none.

The economy has no chance of ever recovering unless a couple of things are in place and one of those things is cheap energy.  Supply and demand will keep energy cheap going forward even if it is only on cheap during the depression.  If the price of oil is kept artificially high during the interim, then the oil will stay in the ground and not benefit anyone.  Don't believe that OPEC has the will to do this.  They are all thieves and there is no honor in any of them.
Link Posted: 1/27/2009 4:36:53 AM EST
Quoted:

This could happen.
But I think there's still a lot of wealth to be wrung out of our economy before we see this.  The world's economy is spiraling out of control because the global economy (capitalism) runs on two things; credit + cheap energy.  The credit markets have been wrecked and oil spiked upwards over '07 and especially in '08.

Right now, oil is selling at a very low inflation adjusted price.  It is also selling at below replacement cost.  The price "has" to go up.  And everyone better be praying real hard that it does, because if it doesn't, it will be because there is no global (or U.S.) economy left to support it; or to support me, or YOU, or anyone else.


Believe it or not, both communism and socialism also run on credit and cheap energy.
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