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...ber-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]

Originally Posted by 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.

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]

Originally Posted by 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.

"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]

Originally Posted by PICSIX

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]

Originally Posted by lamboguy

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

We shall see shortly.

[barahona44]

Originally Posted by lamboguy

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]

Originally Posted by barahona44

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]

Originally Posted by lamboguy

i highly doubt that

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