$100 A Barrel Oil is on the Way

[Obsessed]

Gas prices were never over a $1.00 in the 1970's.

Guess my father in law lied then gramps.

 

[Gramps]

Guess my father in law lied then gramps.

If he told you that yes he lied.

 

[Obsessed]

If he told you that yes he lied.

Year Price Price in 2005 dollars
-------------------
1978 0.631 1.85
1979 0.780 2.06
1980 1.242 2.89
1981 1.381 2.91
1982 1.210 2.40
1983 1.198 2.31
1984 1.211 2.23
1985 1.199 2.14
1986 0.895 1.58
1987 0.94 1.59
1988 0.946 1.54
1989 1.098 1.70
1990 1.096 1.61
1991 1.159 1.63
1992 1.143 1.56
1993 1.175 1.57
1994 1.128 1.46
1995 1.197 1.51
1996 1.305 1.59
1997 1.288 1.54
1998 1.106 1.31
1999 1.232 1.42
2000 1.561 1.74
2001 1.617 1.75
2002 1.493 1.59
2003 1.704 1.77
2004 1.875 1.91
2005 2.325 2.325
------------

 

[Gramps]

Year Price Price in 2005 dollars
-------------------
1978 0.631 1.85
1979 0.780 2.06
1980 1.242 2.89
1981 1.381 2.91
1982 1.210 2.40
1983 1.198 2.31
1984 1.211 2.23
1985 1.199 2.14
1986 0.895 1.58
1987 0.94 1.59
1988 0.946 1.54
1989 1.098 1.70
1990 1.096 1.61
1991 1.159 1.63
1992 1.143 1.56
1993 1.175 1.57
1994 1.128 1.46
1995 1.197 1.51
1996 1.305 1.59
1997 1.288 1.54
1998 1.106 1.31
1999 1.232 1.42
2000 1.561 1.74
2001 1.617 1.75
2002 1.493 1.59
2003 1.704 1.77
2004 1.875 1.91
2005 2.325 2.325
------------

You reaching ob. Now pull up a chart showing the actual prices in the 1970's.

We were not using 2005 money in the 1970's. Gas prices were not about a dollar per gallon retail at the pumps. We hit that in the 1980's. But not much over a dollar.

 

[davethevol]

You reaching ob. Now pull up a chart showing the actual prices in the 1970's.

We were not using 2005 money in the 1970's. Gas prices were not about a dollar per gallon retail at the pumps. We hit that in the 1980's. But not much over a dollar.

The number in the middle is the price from the time. It seems to back up your statement.

 

[Gramps]

The number in the middle is the price from the time. It seems to back up your statement.

Thanks Dave, I missed that.

OB, my apologies for not catching those middle numbers.

:hi:

 

[volfanhill]

The Saudis are doing this to hurt Iran. Iran can not fund it's nuclear agenda when oil prices are plunging. The Saudis have seen that we are not going to stop them. The house of saud has one goal and that is to stay in power. A nuclear Iran is a direct threat to that. Pissing of russia and hurting the American shale industry are just added benefits. Saudi Arabia controls OPEC.

 

[Velo Vol]

The Saudis are doing this to hurt Iran. Iran can not fund it's nuclear agenda when oil prices are plunging.

There are a number of countries, including Saudi Arabia, which cannot fund their governments with falling prices.

 

[volfanhill]

There are a number of countries, including Saudi Arabia, which cannot fund their governments with falling prices.

They can play the game longer then anyone else and their is a long term strategic decision.

http://rt.com/business/209579-opec-oil-supply-russia/

 

[MG1968]

There are a number of countries, including Saudi Arabia, which cannot fund their governments with falling prices.

How did they fund their governments when oil was less than $20/barrel?

 

[Velo Vol]

http://rt.com/business/209579-opec-oil-supply-russia/

“The winner of this game is Saudi Arabia, which is gradually moving towards its main goal – to oust the US shale oil from the market, make production of oil sands for the US not worth its while, and strengthen its own position. If shale projects stop in America, Saudi Arabia’s share of the market will begin to grow again,” Kokoreva said.

That's kind of funny. And who is Kokoreva?

Is it really Saudi wanting to sideline fracking?

 

[Velo Vol]

How did they fund their governments when oil was less than $20/barrel?

It's been a long time since $20. I imagine their governments were smaller, and oil was much cheaper to produce.

 

[VolsNSkinsFan]

I think it costs the Saudis like $5 a barrel. Their fields are well mapped and they are drilling shallow wells through sand


The Bakken is awesome. It's producing 1.1 million barrels per day but it's 8000 feet down and you need a 20 stage frac job to get it done. Each well costs a minimum of $8 million. That's $40-50 break even

 

[govols09]

Anybody looking to buy oil stocks after the collapse yesterday?

 

[Obsessed]

Anybody looking to buy oil stocks after the collapse yesterday?

Keep gas prices down and consumers have more disposable income for the upcoming holiday shopping.

Manipulating the market(s) imo.

 

[volfanhill]

Keep gas prices down and consumers have more disposable income for the upcoming holiday shopping.

Manipulating the market(s) imo.

Saudis hoping we have a big retail season?

 

[mrorange211]

Saudis hoping we have a big retail season?

 

[FLVOL69]

Keep gas prices down and consumers have more disposable income for the upcoming holiday shopping.

Manipulating the market(s) imo.

There's a glut of oil on the world market in conjunction with the worst recovery since FDR. The Saudis are out to cripple the Russian and Iranian economies by saturating the world market. We as a country have more nat gas and oil than the rest of the world. The Saudis are working for us..

 

[Obsessed]

Saudis hoping we have a big retail season?

Yes.


See how easy that was.

 

[Obsessed]

There's a glut of oil on the world market in conjunction with the worst recovery since FDR. The Saudis are out to cripple the Russian and Iranian economies by saturating the world market. We as a country have more nat gas and oil than the rest of the world. The Saudis are working for us..

My dad used to do this for years. He retired from it. Gravity and magnetics engineer.

He traveled all over the world. Told me in the 90's of a oil deposit so large our country could run on it alone for 100 years. But at the time the tech was not there to reach it.

 

[FLVOL69]

My dad used to do this for years. He retired from it. Gravity and magnetics engineer.

He traveled all over the world. Told me in the 90's of a oil deposit so large our country could run on it alone for 100 years. But at the time the tech was not there to reach it.

Your dad is right,we have more resources here than anywhere else in the world we just have to exploit them.The Saudi's are ****ting their turbines they don't want Iran to get a nuke. It's a double edge sword, they cut production we increase production therefore keeping prices low. We can play the ****ing game all day long.

 

[Velo Vol]

Oil tycoon T. Boone Pickens predicts return to $100 a barrel - MarketWatch

Prominent oil investor and sometime-renewable-energy booster T. Boone Pickens predicted Tuesday that the plunging oil price would rebound to $100 a barrel in the next 12 to 18 months.

It could happen much sooner than that.

 

[VolsNSkinsFan]

$85 by Memorial Day. Maybe even earlier. Imo

Some are calling for $45 oil, which I don't think happens unless a bigger meltdown elsewhere occurs.

 

[Gramps]

Lower oil prices could do a great deal in rebuilding our economy. Oil prices effect the price of just about everything we purchase.

 

[Obsessed]

Lower oil prices could do a great deal in rebuilding our economy. Oil prices effect the price of just about everything we purchase.

They effect everything. Period.