Don't look now, but oil is approaching $50
- Thread starter Tilted
- Start date
Larry Gude
Strung Out
Oh no! Looks like oil's going to $100 by close of trading due to that catastrophic set of data!!!
Tilted
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Oh no! Looks like oil's going to $100 by close of trading due to that catastrophic set of data!!!
Doesn't look like it's gonna make it there today - maybe tomorrow. Still down a bit on the day, up just a little bit since the inventory data.
Someone actually suggested that this was holding oil prices up a little, but I don't know that I'm buying that notion.
North Korea positions missile on launch pad: report
Larry Gude
Strung Out
International businessman I know, chatted with briefly yesterday, he's a foreign national, good guy, good family, general conversation and we got on oil somehow and he said, just in passing about the current rise in price 'Oh, they're just manipulating the price. No one makes any money this low so, the goal is to keep it around $70 or so. The oil producers, the companies, the governments...$100 too much, under $50 too low..."
Just anecdotal, but we'll see.
Tilted
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That sounds an awful lot like stuff I've been saying. Most of the players (including producers) don't want it as high as it was last summer. And, it's not sustainable down around $30. I'd say that $50-$70 a barrel surrounds the sweet spot. Cheaper would be nice, but not feasible long term. And, higher than that is not necessary to keep supplies flowing. (That's not to say that it can't go higher than that, just that that is the desirable range for consumers.)
Larry Gude
Strung Out
Huh. It's like there's a recession or something. Maybe they'll start taking delivery of the stuff and store it in their swimming pools so they can bid it up some more.
Tilted
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Recession? Pfft ... what recession? Wicomico Shores just raised all their fees.
Larry Gude
Strung Out
$150, here we come!!!!
Porsche944turbo
Member
We should stay on oil as long as possible and not try to find any other sources of energy like the ultra Right wants.
We should also return to an agrarian nation, travel on steam engines and ride horse and buggy to work.
Why do conservatives have such a desire to NOT evolve and advance as a nation???
I understand the close mindedness is most of it but some point the blinders have to come off.
We should also return to an agrarian nation, travel on steam engines and ride horse and buggy to work.
Why do conservatives have such a desire to NOT evolve and advance as a nation???
I understand the close mindedness is most of it but some point the blinders have to come off.
Larry Gude
Strung Out
We should stay on oil as long as possible and not try to find any other sources of energy like the ultra Right wants.
We should also return to an agrarian nation, travel on steam engines and ride horse and buggy to work.
Why do conservatives have such a desire to NOT evolve and advance as a nation???
I understand the close mindedness is most of it but some point the blinders have to come off.
No, you don't seem to even have a clue about the close mindedness, as you call it. Close minded is ignoring economic and physical reality; there is NO viable alternatives to oil at this point, not even close.
Why don't we come up with some sort of alternative to water? It would be more expensive. It wouldn't work as well. It would put millions out of work. It wouldn't solve the 'problem' but, it darn sure would make us feel better about not wasting all that water, wouldn't it?
There WILL be viable alternatives to oil. It WILL happen when the cost of oil, based on supply and demand, is more expensive and less efficient that the new thing. That is the way it works and it really is that simple.
We can make oil less available. We can limit it's use. However, we would have to do that artificially thus it would not be the actual cost. Thus any alternative would not be based on economic viability or efficiency, but by government decree; not an ideal way to build a better mouse trap.
So, you can call me close minded all you like. That doesn't make it so. It does, however, make you dumber than me.
Tilted
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Crude stocks up 4.1 million barrels
Distillates stocks up 1.8 million barrels
Gasoline stocks down 4.7 million barrels
Refinery utilization - 82.7%
Crude oil stocks (non SPR) were 374.7 million barrels. You ready for this ... that's the highest stocks level since ... ready ... ready ... the summer of 1990.
Distillates stocks up 1.8 million barrels
Gasoline stocks down 4.7 million barrels
Refinery utilization - 82.7%
Crude oil stocks (non SPR) were 374.7 million barrels. You ready for this ... that's the highest stocks level since ... ready ... ready ... the summer of 1990.
T
toppick08
Guest
Are we drilling.......yet ??
Tilted
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Drilling is dirty. Have you ever seen what those roughnecks look like after a day of work? Studies have suggested that increasing our domestic drilling efforts by just 10%, would cost this nation $244.6 Billion annually in increased laundry detergent expenses alone.
T
toppick08
Guest
Yep..got several buds who did it/and still do it...............south La. is their flyaway point........
Watch out for those drillpushers.....and company men.
coonass bastages.............
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