"Even if the oil price goes down to $25 a barrel, the oil industry (OPEC) will not be threatened." (1-19-15)
Getting closer.
////
I recently paid $2.01/gal. I know there are much lower prices per gallon on the Mainland but our nearest refinery is over 2,500 miles and is all 'trucked' in! Our taxes per gallon are tied for the sixth lowest in the country. Our roads reflect that, urgh.
Then again, if you're a believer in global warming and any associated climate change and would like to see a reduction in fossil fuel use, it would seem that dirt cheap oil is the last thing you'd want.
I'm a believer in climate change. It has changed at least four times a year for the past 62 years.
Dirt cheap oil has given a debt ridden world economy a temporary reprieve.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
"Even if the oil price goes down to $25 a barrel, the oil industry (OPEC) will not be threatened." (1-19-15)
Getting closer.
////
I recently paid $2.01/gal. I know there are much lower prices per gallon on the Mainland but our nearest refinery is over 2,500 miles and is all 'trucked' in! Our taxes per gallon are tied for the sixth lowest in the country. Our roads reflect that, urgh.
Hawaii has $0.40 cheaper per gallon gas than San Diego. Think we are up to $1.2 tax per gallon.
I worked in oil for a brief period, worst times of my life. Love watching the recent price drop although probably not a good sign for where the economy is currently headed. Sure my old coworkers are at home praying for WW3 so the price can pop back up again. I'm going to kick back and enjoy the much needed deflation.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Venezwalla is letting Russia build a bomber base on one of their islands
Right now, they are using crude to pay back $6bil in loans from Russia. The problem is that their facilities and manpower are so weak that they are behind in payment-shipments. Their stuff don't work like it used to.
As an OPEC nation once they are back up to higher shipment levels, they should be an interesting player in OPEC. Desperate for money means pumping more, and that means lower prices. Where's that balance going to be?
((Russia just pledged $5bil more for their oil infrastructure and $1 bil for mining. I'm not sure where the paid brains will come from.))
@blitzdude said:
The sun has all the energy we could possibly ever need. Who needs oil? Just a few greedy dinosaurs.
I don't think Solar will ever be able to provide for all our energy needs by itself.
We will never see a solar powered fighter jet or Naval Vessel,,,,,, big machines require BIG ENERGY.
Comments
"Even if the oil price goes down to $25 a barrel, the oil industry (OPEC) will not be threatened." (1-19-15)
Getting closer.
////
I recently paid $2.01/gal. I know there are much lower prices per gallon on the Mainland but our nearest refinery is over 2,500 miles and is all 'trucked' in! Our taxes per gallon are tied for the sixth lowest in the country. Our roads reflect that, urgh.
Then again, if you're a believer in global warming and any associated climate change and would like to see a reduction in fossil fuel use, it would seem that dirt cheap oil is the last thing you'd want.
I'm a believer in climate change. It has changed at least four times a year for the past 62 years.
Dirt cheap oil has given a debt ridden world economy a temporary reprieve.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
$27.30
"Even if the oil price goes down to $25 a barrel, the oil industry (OPEC) will not be threatened." (1-19-15)
Getting closer.
////
I recently paid $2.01/gal. I know there are much lower prices per gallon on the Mainland but our nearest refinery is over 2,500 miles and is all 'trucked' in! Our taxes per gallon are tied for the sixth lowest in the country. Our roads reflect that, urgh.
Hawaii has $0.40 cheaper per gallon gas than San Diego. Think we are up to $1.2 tax per gallon.
BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
greenspan says $40 is the bottom
So if I'm long that means SELL SELL SELL as cramer would say
I just saw Brent at $27.48...8am, Monday morning in Hong Kong.
Just $2.48 to go.
The talk on the local business show was on possible $20 oil, maybe even $10.
I like to hear talk like this.
Interesting hiw talk of ever lower and lower prices after steep declines results in bottoms. I wonder if the opposite is true....think 2011.
That's why I liked that kind of talj.
Knowledge is the enemy of fear
I just saw Brent at $27.48...8am, Monday morning in Hong Kong.
Just $2.48 to go.
The talk on the local business show was on possible $20 oil, maybe even $10.
I like to hear talk like this.
Interesting hiw talk of ever lower and lower prices after steep declines results in bottoms. I wonder if the opposite is true....think 2011.
That's why I liked that kind of talj.
Yeah, I should use myself as a contrarian indicator, lol.
Oil down again, Brent crude at a 14 month low at $56/barrel.
Interesting to read previous comments.
Liberty: Parent of Science & Industry
Before OPEC mtg, traders on cnbc said 40's if opec does not cut.
OPEC did its cut.
In a very brief time we found ourselves in a global slowdown threat. I guess OPEC needs to cut.
I guess no one predicted the slowdown prediction.
I worked in oil for a brief period, worst times of my life. Love watching the recent price drop although probably not a good sign for where the economy is currently headed. Sure my old coworkers are at home praying for WW3 so the price can pop back up again. I'm going to kick back and enjoy the much needed deflation.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
I miss Roadrunner.
Knowledge is the enemy of fear
What'd you do in oil?
Engineering and production of MWD tools that measured inclination/azimuth in oil drilling for one of the big dogs.
In a life previous to that also spent some time protecting King Fahd's oil fields from that evil dictator to the north. Semper Fi!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
What'll happen in Venezwalla?
Venezwalla is letting Russia build a bomber base on one of their islands
Right now, they are using crude to pay back $6bil in loans from Russia. The problem is that their facilities and manpower are so weak that they are behind in payment-shipments. Their stuff don't work like it used to.
As an OPEC nation once they are back up to higher shipment levels, they should be an interesting player in OPEC. Desperate for money means pumping more, and that means lower prices. Where's that balance going to be?
((Russia just pledged $5bil more for their oil infrastructure and $1 bil for mining. I'm not sure where the paid brains will come from.))
Interest rate hike today anyone?
if they hike and signal "done for now"... big rally.
Agreed, but no done for now signal. 3% by next December was the signal.
We need to name this one. "Taper Tantrum" was appropriate for the winding down QE to the markets chagrin. How about "Cumulation Conniption"?
I keep noticing these black feathers floating on the pond.
We haven't even had a black swan event, yet.
I knew it would happen.
LoL, but hope springs eternal, right? Happy Holidays!
Liberty: Parent of Science & Industry
Yet motor oil continues to be very expensive.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Yep, cotton is cheap, shirts expensive. Corn is cheap, bourbon expensive. Silver is cheap, Dan Carr items expensive.
Liberty: Parent of Science & Industry
oil is cheap, gas cheap
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
The Trump Dump. Lol
Knowledge is the enemy of fear
OK, this may be a stupid question,,,,,,,,, they say the US is a net exporter of oil, so why do we import oil?
Why don't we use all US oil in the US and then and only then import more oil if and when needed?
They ship it here,,,,,, we ship it there,,,,,,, would not it be cheaper to not ship it halfway across the world and use our own oil in the USA?
Why do we do this?
hope springs eternal, right?
Then again, there's reality to contend with, right?
I knew it would happen.
The last country with oil will rule the world. Use theirs up, not ours.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
The sun has all the energy we could possibly ever need. Who needs oil? Just a few greedy dinosaurs.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
War machines need oil.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
I don't think Solar will ever be able to provide for all our energy needs by itself.
We will never see a solar powered fighter jet or Naval Vessel,,,,,, big machines require BIG ENERGY.
Biofuels