Crude Oil update

[Value Collector]

I seem to recall that about 20 years ago the doom sooth sayers were predicting the end is neigh to petroleum production. it was only downhill from there.

technology saved the day and postponed the peak for a little while, if it weren’t for the advances in fracking and horizontal drilling we would be in a different world. Who would have thought that the USA would be a net exporter of oil?

But, these technologies can’t create new oil, they just allow us to pull oil out of the ground that we couldn’t get to in the past, the peak of oil production is still coming, it’s just been delayed.

 

[Smurf1976]

I seem to recall that about 20 years ago the doom sooth sayers were predicting the end is neigh to petroleum production. it was only downhill from there.

It's one of those things where the "what" is certain but the "when" is impossible to predict with accuracy.

Ultimately though it's a finite resource and, so far as is known, one that's fairly limited relative to present consumption.

When supply tops out is hard to forecast but at some point it will.

If you live right beside the river then it's going to flood someday. Raising concern and taking action might be premature but it's not unreasonable as such, at some point you're stuffed if you haven't done it.

 

[divs4ever]

Exxon "Days Away" From Buying Shale Giant Pioneer In "Seismic Deal" That Will Reshape US Energy​

Exxon "Days Away" From Buying Shale Giant Pioneer In "Seismic Deal" That Will Reshape US Energy | ZeroHedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

hmmm i wonder how that will affect the ESG rating ( will it still score higher than Tesla ? )

 

[Garpal Gumnut]

" Its the economy, Stupid."

I despair sometimes of so called experts. Markets closed on the weekend assuring muppets that oil was heading lower.

It is Not. And nor will it in this crazy f**ked up world.

Nor is Gold nor other harder Commodities.

gg

 

[Value Collector]

It's one of those things where the "what" is certain but the "when" is impossible to predict with accuracy.

Ultimately though it's a finite resource and, so far as is known, one that's fairly limited relative to present consumption.

When supply tops out is hard to forecast but at some point it will.

If you live right beside the river then it's going to flood someday. Raising concern and taking action might be premature but it's not unreasonable as such, at some point you're stuffed if you haven't done it.

I heard a guy once say “if something can’t go on forever, it eventually stops” I think he is correct, whether we have 20 years or 80 years left of cheap oil is up for debate, but we know it will eventually end.

 

[farmerge]

" Its the economy, Stupid."

I despair sometimes of so called experts. Markets closed on the weekend assuring muppets that oil was heading lower.

It is Not. And nor will it in this crazy f**ked up world.

Nor is Gold nor other harder Commodities.

gg

gg bowser pump price of petrol in out little hamlet dropped 22c at the end of last week. Unfortunately diesel did not follow. We have 2 servos so there is a minor battle on for the passing trade coming in from the eastern country towns.

 

[Garpal Gumnut]

gg bowser pump price of petrol in out little hamlet dropped 22c at the end of last week. Unfortunately diesel did not follow. We have 2 servos so there is a minor battle on for the passing trade coming in from the eastern country towns.

Your best protection against a rise in bowser prices, in my experience, is to buy energy stocks. I agree bowser is affected by other factors, however I'm predicting a 50% rise at bowser by the end of January.

Now I'm not tryin' to start a panic or somesuch ...

Even nonesuch, know what I mean.

gg

 

[farmerge]

Your best protection against a rise in bowser prices, in my experience, is to buy energy stocks. I agree bowser is affected by other factors, however I'm predicting a 50% rise at bowser by the end of January.

Now I'm not tryin' to start a panic or somesuch ...

Even nonesuch, know what I mean.

gg

Bought 25 litres unleaded petrol for emergency firefighting this morning bowser price was $1.796 and then Iget the GST back also.

 

[mullokintyre]

There is a significant hurricane working its way towards the carribean.
The forecasts vary a bit after that, but if a CAT5 hurricane moves its way across Texas, and puts some of the refinery infrastructure out of action for any length of time, it will put a bit of panic among the oilers.
Maybe worth buying some gambling on futures or ETF's.
Mick

 

[mullokintyre]

Oil drops to near six month lows on reserves build up.

Mick