Who's Ready For $30 Oil?

  • Posted by a hidden member.
    Log in to view his profile

    Nov 24, 2014 5:43 AM GMT
    http://seekingalpha.com/article/2705185-whos-ready-for-30-oil

    The greedy bastards sucked us nearly dry$$$$. Then cUms along great hybrid cars, solar power, more fuel efficient cars and oil fracking in the USA. Saudi Arabs can go fuck them selves extra hard.icon_twisted.gif

    Now, back to my hot rods!icon_cool.gif

  • Nhlakz

    Posts: 149

    Nov 24, 2014 12:18 PM GMT
    Does these mean that other things will go down like food and travel costs.
  • Posted by a hidden member.
    Log in to view his profile

    Nov 24, 2014 1:15 PM GMT
    Haha..... You are sucked in pretty deep there mister. Do you really believe anybody will produce anything that's lower than the cost of production. First the more expensive oil will stop being produced.... at the same time we'll have a lot of happy people consuming more "because it's so cheap". Buy a big truck icon_smile.gif

    Countries that rely on oil revenues have built their expenditures on $100 oil.... well guess what.... looks like they'll be going deep in debt until they can get their revenue streams back up there.

    If the oil sands and expensive wells are capped it will probably be six months before they are up and running again.... expect $130 oil. Buy a vehicle that gets super economy..... because we are in for a ride.
  • tj85016

    Posts: 4123

    Nov 24, 2014 1:31 PM GMT
    Nhlakz saidDoes these mean that other things will go down like food and travel costs.


    no

    $30 means worldwide depression, maybe it'll hit $55-60
  • biathlete01

    Posts: 81

    Nov 24, 2014 3:07 PM GMT
    robbee333 saidHaha..... You are sucked in pretty deep there mister. Do you really believe anybody will produce anything that's lower than the cost of production. First the more expensive oil will stop being produced.... at the same time we'll have a lot of happy people consuming more "because it's so cheap". Buy a big truck icon_smile.gif

    Countries that rely on oil revenues have built their expenditures on $100 oil.... well guess what.... looks like they'll be going deep in debt until they can get their revenue streams back up there.

    If the oil sands and expensive wells are capped it will probably be six months before they are up and running again.... expect $130 oil. Buy a vehicle that gets super economy..... because we are in for a ride.




    Doesn't cheaper oil mean more greenhouse gases and global warming?

    We want $130 oil.


  • Posted by a hidden member.
    Log in to view his profile

    Nov 24, 2014 4:14 PM GMT
    Youd be shocked to see the price of fuel in the UK / EU
  • Destinharbor

    Posts: 4435

    Nov 24, 2014 4:28 PM GMT
    JBXPO saidYoud be shocked to see the price of fuel in the UK / EU

    That's taxes to subsidize mass transit. I don't have a problem with that but you need to know the components of the final cost to understand the issue. Russia says the US and Saudi's are conspiring to drop the price of oil to weaken them. Energy is their #1 export. Sounds like a plan to me but also has implications in the intermediate term. And suggests prices could rise abruptly if the situation changes.
  • Posted by a hidden member.
    Log in to view his profile

    Nov 24, 2014 6:20 PM GMT
    I think it is great that more oil is coming onto the market and throwing OPEC into disarray. It is important to remember, however, that it costs the Saudis only $25 to pump a barrel of oil out of the ground, whereas a fracked or tar sand produced barrel costs about $60-£80 to produce. That gives the Saudis a huge competitive advantage, especially in a falling market.

    Still, it's nice to see Putin squirming.
  • Posted by a hidden member.
    Log in to view his profile

    Nov 24, 2014 6:56 PM GMT
    Ex_Mil8 saidI think it is great that more oil is coming onto the market and throwing OPEC into disarray. It is important to remember, however, that it costs the Saudis only $25 to pump a barrel of oil out of the ground, whereas a fracked or tar sand produced barrel costs about $60-£80 to produce. That gives the Saudis a huge competitive advantage, especially in a falling market.

    Still, it's nice to see Putin squirming.


    Not entirely... you're citing the production break even point... but given that many of these are state owned firms whose states have become extraordinarily bloated/corrupt because of lucrative oil, these are the better numbers to use:

    http://www.vox.com/2014/10/7/6934819/oil-prices-falling-russia-OPEC-shale-boom-gasoline-prices
    160934_5_.0.jpg

    Cheap oil is a game changer - thanks to fracking (gas and soon to be oil).
  • Posted by a hidden member.
    Log in to view his profile

    Nov 24, 2014 7:15 PM GMT
    http://www.caranddriver.com/news/2015-dodge-charger-srt-hellcat-official-photos-and-info-news

    http://www.allpar.com/cars/dodge/charger/2015-hellcat.html
  • buddycat

    Posts: 1874

    Nov 24, 2014 8:11 PM GMT
    Good thing, gas has been ridiculously high. I simply stopped driving so much.
  • Posted by a hidden member.
    Log in to view his profile

    Nov 24, 2014 8:26 PM GMT
    Couldn't read the article.
    In the long run, as demand for petroleum motor fuels declines, it's difficult to predict what the pump price would be with reduced worldwide output.

    One wrinkle that most people don't consider is the tremendous array of chemicals that are by-products of fuels production. As production declines, the price of these - and costs for all of the industries that use them - goes up. Some are even being rationed already. Just in my lab, there are several reagents that used to cost $30 that are now getting close to $1000.

    Of course, in the long run, you change the process and find some cheaper alternative, even though sometimes it might be more dangerous and/or you have to go to the bank and get a loan for new equipment. It's happened before and will happen again. But declining petroleum affects a huge number of materials. It might be a disruption.
  • Posted by a hidden member.
    Log in to view his profile

    Nov 24, 2014 8:28 PM GMT
    biathlete01 said
    Doesn't cheaper oil mean more greenhouse gases and global warming?

    We want $130 oil.


    The higher oil prices of recent years have certainly caused drivers to lower their road speeds and cut down on non-essential journeys, which is good. I agree prices should be kept relatively high, but this can be achieved through taxation, regardless of the global oil price. It is still good to see prices coming down a bit though. Petrol shouldn't be cheap, but it should be affordable.
  • ASHDOD

    Posts: 1057

    Nov 24, 2014 9:38 PM GMT
    2bnaked saidhttp://seekingalpha.com/article/2705185-whos-ready-for-30-oil

    The greedy bastards sucked us nearly dry$$$$. Then cUms along great hybrid cars, solar power, more fuel efficient cars and oil fracking in the USA. Saudi Arabs can go fuck them selves extra hard.icon_twisted.gif

    Now, back to my hot rods!icon_cool.gif



    not only that you guys in the us are almost oil independent once again ,and lots of other countries discovered gaz and other energy resorces, even us [in israel] we have enough gaz now even for export [that was a very pleasent surprize]

  • tj85016

    Posts: 4123

    Nov 24, 2014 11:00 PM GMT
    Destinharbor said
    JBXPO saidYoud be shocked to see the price of fuel in the UK / EU

    That's taxes to subsidize mass transit. I don't have a problem with that but you need to know the components of the final cost to understand the issue. Russia says the US and Saudi's are conspiring to drop the price of oil to weaken them. Energy is their #1 export. Sounds like a plan to me but also has implications in the intermediate term. And suggests prices could rise abruptly if the situation changes.


    and the effects of the petro-dollar and FX rates - the US exports inflation
  • biathlete01

    Posts: 81

    Nov 24, 2014 11:24 PM GMT
    Ex_Mil8 said
    biathlete01 said
    Doesn't cheaper oil mean more greenhouse gases and global warming?

    We want $130 oil.


    The higher oil prices of recent years have certainly caused drivers to lower their road speeds and cut down on non-essential journeys, which is good. I agree prices should be kept relatively high, but this can be achieved through taxation, regardless of the global oil price. It is still good to see prices coming down a bit though. Petrol shouldn't be cheap, but it should be affordable.




    If global warming is such a danger and it is caused by burning hydrocarbons, why do you think oil should be affordable? Supported cheap oil is almost as bad as supporting terrorism.

    US Secretary of State John Kerry said the threats posed by climate change should be addressed with as much "immediacy" as confronting the Islamic State in Iraq and Syria (ISIS), and the Ebola outbreak.
  • tj85016

    Posts: 4123

    Nov 25, 2014 12:22 AM GMT
    looks like this oil move was orchestrated by the US and Saudi to squeeze Putin and ISIS (maybe bankrupt a few oil sludge companies). It's probably relatively short-lived.
  • Posted by a hidden member.
    Log in to view his profile

    Nov 25, 2014 1:22 AM GMT
    Ashdod said
    2bnaked saidhttp://seekingalpha.com/article/2705185-whos-ready-for-30-oil

    The greedy bastards sucked us nearly dry$$$$. Then cUms along great hybrid cars, solar power, more fuel efficient cars and oil fracking in the USA. Saudi Arabs can go fuck them selves extra hard.icon_twisted.gif

    Now, back to my hot rods!icon_cool.gif



    not only that you guys in the us are almost oil independent once again ,and lots of other countries discovered gaz and other energy resorces, even us [in israel] we have enough gaz now even for export [that was a very pleasent surprize]



    P.S
    I have a smart car to.
    60 MPG on the highway.
    I like to drive, but I am not stupid to
    constantly drive my gas guzzling cars (hot rods and truck)
  • roadbikeRob

    Posts: 14354

    Nov 25, 2014 2:48 AM GMT
    2bnaked saidhttp://seekingalpha.com/article/2705185-whos-ready-for-30-oil

    The greedy bastards sucked us nearly dry$$$$. Then cUms along great hybrid cars, solar power, more fuel efficient cars and oil fracking in the USA. Saudi Arabs can go fuck them selves extra hard.icon_twisted.gif

    Now, back to my hot rods!icon_cool.gif

    Burn some rubber on the pavement for meicon_lol.gif
  • FRE0

    Posts: 4865

    Nov 25, 2014 3:35 AM GMT
    robbee333 saidHaha..... You are sucked in pretty deep there mister. Do you really believe anybody will produce anything that's lower than the cost of production. First the more expensive oil will stop being produced.... at the same time we'll have a lot of happy people consuming more "because it's so cheap". Buy a big truck icon_smile.gif

    Countries that rely on oil revenues have built their expenditures on $100 oil.... well guess what.... looks like they'll be going deep in debt until they can get their revenue streams back up there.

    If the oil sands and expensive wells are capped it will probably be six months before they are up and running again.... expect $130 oil. Buy a vehicle that gets super economy..... because we are in for a ride.


    Countries that built their economies on oil were acting very foolishly. It would have been fine for them to use oil money to build their infructure to support economic growth, but then they should have diversified their economies. I do not feel sorry for them.
  • Posted by a hidden member.
    Log in to view his profile

    Nov 25, 2014 3:42 AM GMT
    I agree.... cheap oil isn't for the global good. If oil was closer to $150 transporting goods would be pricey. We'd be growing and manufacturing more stuff locally, innovating using alternative transportation. Fuel cells, hybrids, electric and natural gas would all help to reduce global warming. I think It would be tough on the big corporations though.... darn.
  • buddycat

    Posts: 1874

    Nov 25, 2014 3:53 AM GMT
    Ex_Mil8 said
    biathlete01 said
    Doesn't cheaper oil mean more greenhouse gases and global warming?

    We want $130 oil.


    The higher oil prices of recent years have certainly caused drivers to lower their road speeds and cut down on non-essential journeys, which is good. I agree prices should be kept relatively high, but this can be achieved through taxation, regardless of the global oil price. It is still good to see prices coming down a bit though. Petrol shouldn't be cheap, but it should be affordable.


    Here is the problem, driving is essential for some people since industry has been leaving the major cities and located in suburban industrial parks. If you use taxes to get people to do what you want them to, it will negatively impact the economy and they will spend less. Controlling behavior through taxes is not the way to go. If you need to do your part, get yourself a horse and buggy and live in Lancaster. I am sure you wouldn't like your behavior controlled through taxes by the Christian right, maybe triple taxes on anything gay related. Of course things government do sometimes has it's negative impact. Center City Philadelphia doubled the parking and extended the pay times to 10 PM daily, so no more going down there while most businesses are open.
  • tj85016

    Posts: 4123

    Nov 25, 2014 4:04 AM GMT
    ^^

    lol taxes have been used to control behavior for 2000 years or more
  • Posted by a hidden member.
    Log in to view his profile

    Nov 25, 2014 4:52 AM GMT
    FRE0 said
    robbee333 saidHaha..... You are sucked in pretty deep there mister. Do you really believe anybody will produce anything that's lower than the cost of production. First the more expensive oil will stop being produced.... at the same time we'll have a lot of happy people consuming more "because it's so cheap". Buy a big truck icon_smile.gif

    Countries that rely on oil revenues have built their expenditures on $100 oil.... well guess what.... looks like they'll be going deep in debt until they can get their revenue streams back up there.

    If the oil sands and expensive wells are capped it will probably be six months before they are up and running again.... expect $130 oil. Buy a vehicle that gets super economy..... because we are in for a ride.


    Countries that built their economies on oil were acting very foolishly. It would have been fine for them to use oil money to build their infructure to support economic growth, but then they should have diversified their economies. I do not feel sorry for them.


    EXACTLY!!!^^^^^
  • Posted by a hidden member.
    Log in to view his profile

    Nov 25, 2014 5:16 AM GMT
    Don't kid yourself: the Saudis have multiple reasons for letting prices tank, as does the US. It screws both Iran and Russia (with the added bonus of screwing Venezuela from the Administration's point of view. This will pass. Lower prices will put a squeeze on weaker oil sand and fracking projects, thus lowering production of Eco-unfriendly oil. This has "Win" all over it if your last name is Obama. He even gets his (not) BFF Canadian PM to sweat, given that Canada has a Petro-currency.

    Equilibrium will set in eventually. In the meantime Putin might crank up production to make up for lost revenue (fortunately for China) and non-Arabic states will do the same. The Middle East is a mess, though. It's only a matter of time before the next big crisis will freak out oil traders who will then drive prices back up.

    Death, taxes and revolts in the Near East. Even the Romans got pissed about these certainties of life.