oil print $35

[lamboguy]

right now there are 1.5 million barrels of oil produced throughout the world than the what the demand is.

today it reached 65 degrees in boston and the weathermen are predicting about another week of this temperature. there hasn't been that much snow in Buffalo either so far this season.

just wondering where the possible demand for oil will be coming going into the near future. fundamentally oil looks like the under $30 per barrel coming right up. that's going to mean gasoline will be between $1.25-$1.50 per gallon in January and February. its already in the $1.50's in Oaklahoma. the only thing keeping it from going lower at the stations right now are the margin's.

[tucker6]

yep...

http://www.businessinsider.com/crude-oil-price-december-12-2015-12

[lamboguy]

today west texas printed $33 briefly so far. they are predicting 70 degree temperatures on christmas eve in new york city.

i heat my house with natural gas, last november my bill for the month was $716. this year it was $154. last year my december bill was over $1100, i have not got this year's december yet.

[lamboguy]

both West Texas and Brent both printed under $30 per barrel briefly tuesday.


the cheapest gas price per gallon is in Oaklahoma City at $1.39. if Oil goes down a little more we should see $1 or under in February before it jumps up again. gas is going down even with the number of automobiles around the world going up. right now there are 1.2 billion cars on the roads in the world, that number is expected to reach 2 billion by the year 1935.

my guess is that one of the major contributors to the world glut of oil is the increased use of solar power and other alternative forms of energy due to government intervention.

[NorCalGreg]

both West Texas and Brent both printed under $30 per barrel briefly tuesday.


the cheapest gas price per gallon is in Oaklahoma City at $1.39. if Oil goes down a little more we should see $1 or under in February before it jumps up again. gas is going down even with the number of automobiles around the world going up. right now there are 1.2 billion cars on the roads in the world, that number is expected to reach 2 billion by the year 1935.

my guess is that one of the major contributors to the world glut of oil is the increased use of solar power and other alternative forms of energy due to government intervention.

Hell....by the time WW2 starts...we might reach 3 billion cars!

[Marshall Bennett]

If oil companies crumple, so goes the economy. This situation and what apparently lies ahead can't be good. Also, any thoughts of bailing out the oil giants is ridiculous and fantasy, there's not enough money regardless where it comes from.

[barahona44]

both West Texas and Brent both printed under $30 per barrel briefly tuesday.


the cheapest gas price per gallon is in Oaklahoma City at $1.39. if Oil goes down a little more we should see $1 or under in February before it jumps up again. gas is going down even with the number of automobiles around the world going up. right now there are 1.2 billion cars on the roads in the world, that number is expected to reach 2 billion by the year 1935.

my guess is that one of the major contributors to the world glut of oil is the increased use of solar power and other alternative forms of energy due to government intervention.
"Government intervention" also brought us the Internet and the Interstate Highway System. Billions and billions dollars worth of goods and services have come about from research conducted by NASA, the Defense Department and other government agencies. I don't want the government to get any bigger than it is now and I certainly don't want a European system where the government is involved in direct competition with private corporations in manufacturing.The government has a role in providing support to industry (after all, they pay taxes ,too).What that entails is up to the executive and legislative branches.

Also, if these candidates that are so "anti-government", why are they seeking office? "Gee, I hate baseball, but when is it my turn at bat"?

[classhandicapper]

I'm not much of an oil guy, but you would think at some point new exploration and investment would dry up. If you can't earn an adequate return to justify it at these prices, there's no point in doing it. So if demand even inches forward a little at these lower prices in the face of steadier supply, we should see a match of supply and demand eventually and higher prices. The other possibility (since it's not really a true free market) is that OPEC reduces new supply. That's a medium term view (next few years). Very long term I'm not a huge fan of oil.

[PICSIX]

Oil below $30 this morning!

[tucker6]

Oil below $30 this morning!
We are close to bottom boys and girls. I have been toying with the idea of buying oil related stocks for several weeks now at heavily deflated prices. Now may be the time to jump in.

[lamboguy]

oil nowhere near bottom now, if $28 don't hold, $22 coming

[tucker6]

oil nowhere near bottom now, if $28 don't hold, $22 coming
We shall see shortly.

[barahona44]

oil nowhere near bottom now, if $28 don't hold, $22 coming
Get in now, I say.This isn't hula hoops or 8 track players, people will be using oil for decades to come.

[lamboguy]

Get in now, I say.This isn't hula hoops or 8 track players, people will be using oil for decades to come.i highly doubt that

[barahona44]

i highly doubt that
You're right, I just put down a deposit on my solar powered car! :lol:

[Saratoga_Mike]

You're right, I just put down a deposit on my solar powered car! :lol:

If the infrastructure were in place (i.e., fueling stations), you could drive a nat gas-powered car, which would crush US demand for oil.

[barahona44]

If the infrastructure were in place (i.e., fueling stations), you could drive a nat gas-powered car, which would crush US demand for oil.

"There is much virtue in if"
William Shakespeare, As You Like It

[_______]

There have been just 2 major transitions in the primary fuels used by humans. Both were multi-generational events.

We went from wood to coal and later coal to oil. In neither case did use of the prior fuel disappear entirely.

If you believe the transition from oil will occur in your lifetime, then you believe something is about to happen for the first time in human history.

We are certainly in the early stages of the transition from oil to renewables. And those calling this the end of oil will ultimately be right. Just not in a timeframe that will do them any good.

[davew]

Thank goodness for global warming - all the people living north of CA, TX, FL will not be spending as much for fuel during winters.


If you feel oil can not go much lower than $30, do not bet too much on highly leveraged vehicles (like futures). The market players took it to close to $150 and can move the price at their pleasure to where they want it.

[lamboguy]

oil back over $30 for now

[Saratoga_Mike]

"There is much virtue in if"
William Shakespeare, As You Like It

See parts of Utah; it isn't some wild-eyed fantasy idea.

[barahona44]

See parts of Utah; it isn't some wild-eyed fantasy idea.
My point wasn't to downplay natural gas vehicles, they clearly have a role to play,but the idea that the world is going to suddenly turn off the oil spigot just because it's at a 13 year low simply isn't going to happen. People always think both the good AND bad times are going to last forever.