$25 Oil?!?!

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  • renman95
    renman95 Posts: 7,037 ✭✭✭✭✭
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    $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.
  • TwoSides2aCoin
    TwoSides2aCoin Posts: 45,217 ✭✭✭✭✭
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    You know where to invest. Do it.
  • renman95
    renman95 Posts: 7,037 ✭✭✭✭✭
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    Spoke too soon, up 10% near $30.
  • derryb
    derryb Posts: 38,608 ✭✭✭✭✭
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    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.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • OperationButter
    OperationButter Posts: 1,672 ✭✭✭
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    Originally posted by: renman95

    $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.
    Gold is for savings. Fiat is for transactions.



    BST Transactions (as the seller): Collectall, GRANDAM, epcjimi1, wondercoin, jmski52, wheathoarder, jay1187, jdsueu, grote15, airplanenut, bigole
  • bronco2078
    bronco2078 Posts: 10,438 ✭✭✭✭✭
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    greenspan says $40 is the bottom

    So if I'm long that means SELL SELL SELL as cramer would say image
  • gsa1fan
    gsa1fan Posts: 5,566 ✭✭✭
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    $1.82 last I filled up. Still not enough extra $$ under current freak show to go anywhere extra.
    Avid collector of GSA's.
  • OPA
    OPA Posts: 17,166 ✭✭✭✭✭
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    $55.00 oil is a more realistic guess, than $25. That's my take.
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • RedneckHB
    RedneckHB Posts: 20,236 ✭✭✭✭✭
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    Originally posted by: cohodk
    Originally posted by: renman95
    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. image
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • renman95
    renman95 Posts: 7,037 ✭✭✭✭✭
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    Originally posted by: cohodk
    Originally posted by: cohodk
    Originally posted by: renman95
    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. image


    Yeah, I should use myself as a contrarian indicator, lol.
  • Baley
    Baley Posts: 22,663 ✭✭✭✭✭
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    Oil down again, Brent crude at a 14 month low at $56/barrel.

    Interesting to read previous comments.

    Liberty: Parent of Science & Industry

  • MsMorrisine
    MsMorrisine Posts: 40,041 ✭✭✭✭✭
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    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.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • blitzdude
    blitzdude Posts: 7,723 ✭✭✭✭✭
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    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!™
    Wooooha! Did someone just say it's officially "TACO™" Tuesday????
    Retiring at 55, what day is today? :sunglasses:

  • RedneckHB
    RedneckHB Posts: 20,236 ✭✭✭✭✭
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    @roadrunner said:
    Who's cheering for China in the gold market, or oil market? That's the job of King World News or Zero Hedge.

    I miss Roadrunner.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • MsMorrisine
    MsMorrisine Posts: 40,041 ✭✭✭✭✭
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    What'd you do in oil?

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • blitzdude
    blitzdude Posts: 7,723 ✭✭✭✭✭
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    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!™
    Wooooha! Did someone just say it's officially "TACO™" Tuesday????
    Retiring at 55, what day is today? :sunglasses:

  • abcde12345
    abcde12345 Posts: 3,404 ✭✭✭✭✭
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    What'll happen in Venezwalla?

  • MsMorrisine
    MsMorrisine Posts: 40,041 ✭✭✭✭✭
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    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.))

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • VanHalen
    VanHalen Posts: 4,330 ✭✭✭✭✭
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    Interest rate hike today anyone? >:)

  • MsMorrisine
    MsMorrisine Posts: 40,041 ✭✭✭✭✭
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    if they hike and signal "done for now"... big rally.

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
  • VanHalen
    VanHalen Posts: 4,330 ✭✭✭✭✭
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    @MsMorrisine said:
    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"?

  • jmski52
    jmski52 Posts: 24,011 ✭✭✭✭✭
    edited December 24, 2018 7:09AM
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    I keep noticing these black feathers floating on the pond.

    We haven't even had a black swan event, yet.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • Baley
    Baley Posts: 22,663 ✭✭✭✭✭
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    @jmski52 said:
    I keep noticing these black feathers floating on the pond.

    We haven't even had a black swan event, yet.

    LoL, but hope springs eternal, right? Happy Holidays!

    Liberty: Parent of Science & Industry

  • derryb
    derryb Posts: 38,608 ✭✭✭✭✭
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    Yet motor oil continues to be very expensive.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • Baley
    Baley Posts: 22,663 ✭✭✭✭✭
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    @derryb said:
    Yet motor oil continues to be very expensive.

    Yep, cotton is cheap, shirts expensive. Corn is cheap, bourbon expensive. Silver is cheap, Dan Carr items expensive.

    Liberty: Parent of Science & Industry

  • derryb
    derryb Posts: 38,608 ✭✭✭✭✭
    edited December 25, 2018 4:43PM
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    oil is cheap, gas cheap

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • RedneckHB
    RedneckHB Posts: 20,236 ✭✭✭✭✭
    edited December 25, 2018 8:24PM
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    @VanHalen said:

    @MsMorrisine said:
    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"?

    The Trump Dump. Lol

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • GRANDAM
    GRANDAM Posts: 8,785 ✭✭✭✭✭
    edited December 25, 2018 11:17PM
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    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?

    GrandAm :)
  • jmski52
    jmski52 Posts: 24,011 ✭✭✭✭✭
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    hope springs eternal, right?

    Then again, there's reality to contend with, right?

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • derryb
    derryb Posts: 38,608 ✭✭✭✭✭
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    @GRANDAM said:
    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?

    The last country with oil will rule the world. Use theirs up, not ours.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • blitzdude
    blitzdude Posts: 7,723 ✭✭✭✭✭
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    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!™
    Wooooha! Did someone just say it's officially "TACO™" Tuesday????
    Retiring at 55, what day is today? :sunglasses:

  • derryb
    derryb Posts: 38,608 ✭✭✭✭✭
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    War machines need oil.

    Government is the great fiction through which everybody endeavors to live at the expense of everybody else. - Bastiat

  • GRANDAM
    GRANDAM Posts: 8,785 ✭✭✭✭✭
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    @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. :o

    GrandAm :)
  • MsMorrisine
    MsMorrisine Posts: 40,041 ✭✭✭✭✭
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    Biofuels

    Current maintainer of Stone's Master List of Favorite Websites // My BST transactions

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