$100 A Barrel Oil is on the Way

#76
#76
The balance for the cartel is how long can we constrain production thus maintaining these prices before those high prices drive alternative sources of oil/energy.

In the near short-term, it's gravy. In the longer-term, they are cutting their own throats.
 
#77
#77
oklavol said:
When are you and your MIT buddies going to come to Ariz and southern California, pipe ocean water into millions of acres of algae ponds in the desert to make biodiesel and become billionaires?

On a sidebar, the U.S. has enough oil shale in Utah and Colorado to provide all the energy needs of this country for the next 200 years. Oil is approaching 100/barrel and its economically feasible at 50/barrell.

So instead of investing in that, Bush invests trillions in Iraq. Bush has misspent the countries resources IMO.
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I think that we will see Oil Shale kick off as soon as the technology gets a bit more developed....and I think that they can perhaps hit 40-60 dollars a barrel. If we start limiting or taxing CO2 emissions, then that could drastically impact the use of the oil from oil shale.

I'll talk to some of my friends and see what we can do about growing some algae in the American Southwest :) .
 
#78
#78
myrobbins7 said:
Thats true. There are alot of speculators in this market right now. OPEC Secretary General Abdalla el-Bardi told the Wall Street Journal Asia the cartel is not in discussions to boost production by 500,000 barrels.El-Bardi's comments counters rumors that Saudi Arabia is pushing for a production increase. In Sept.,OPEC bowed to Saudi pressure and announced a production increase of 500,000 barrels a day,effective Nov.1. That shows a little drama in the cartel to me. hrmm....:question:
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most analyst's i have seen don't believe that opec (particurally saudi arabia who most believe is producing every barrell they can) has the ability to increase production by a significant amount. Notice the last time they announced a production increase that it had almost no effect on the market.
 
#79
#79
droski said:
most analyst's i have seen don't believe that opec (particurally saudi arabia who most believe is producing every barrell they can) has the ability to increase production by a significant amount. Notice the last time they announced a production increase that it had almost no effect on the market.
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Yeah, thats true. The only effect it had,was me spending more money going into my gas tank. :p
 
#80
#80
droski said:
most analyst's i have seen don't believe that opec (particurally saudi arabia who most believe is producing every barrell they can) has the ability to increase production by a significant amount. Notice the last time they announced a production increase that it had almost no effect on the market.
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another sidebar, anyone have any opinion of abiogenic oil theory?
 
#86
#86
TennTradition said:
This almost seems like people are just pushing it to $100 at this point.
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They are. Theres a block of sellers at $100. It will hit $100 then come down a little and stay in the $90 to $100 range for a while and then they will find something to push it over $100. Thats just the way the game is played.
 
#88
#88
myrobbins7 said:
Oil closed @ $93.53 today. Up $1.66, Another record close. :hi:
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why don't you at least make hay with your knowledge and confidence. The CBOE has about 200 ways for you to profit if you'll just put your money where your mouth is.....just be wary, because when the irrational moves out of the market, it goes quickly
 
#89
#89
BigPapaVol said:
why don't you at least make hay with your knowledge and confidence. The CBOE has about 200 ways for you to profit if you'll just put your money where your mouth is.....just be wary, because when the irrational moves out of the market, it goes quickly
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BPV, Ive been in for 6 years now sir. This is my job. Not just oil but gold, silver and stocks. Do it everyday...
 
#94
#94
oklavol said:
weak dollar + record oil prices + record foreclosures = major recession?
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I dont know if it would be a MAJOR recession but recession yes. The dollar is fallen off very bad, and the forclosures is just crazy, one in every 196 households (new data out this morning). Hold on to your seat cause its going to be a wild ride...:bad:
 
#100
#100
BigPapaVol said:
Hillary in office with a Dem majority and there is no debate on this point. If you make decent money today, start prepping for this little doozy.
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That is true. Plus dont forget, Charlie Rangel wants hes part also...:birgits_giggle:
 
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