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Sweet, sweet Oil

  • #21
  • Apr 21, 2008 1:34pm Apr 21, 2008 1:34pm
From what I understand, is that oil and gold have been equal in price for 50 years, while all currencies are being devalued,, especially the last few years. The euro and the dollar are both being devalued, just one is better at devaluing their currency then the other. Commodities trade similiar, and until the US starts selling gold for $200 USD, nobody is going to want the dollar.
  • #22
  • Apr 21, 2008 1:44pm Apr 21, 2008 1:44pm
Quoting Clouds
From what I understand, is that oil and gold have been equal in price for 50 years, while all currencies are being devalued,, especially the last few years. The euro and the dollar are both being devalued, just one is better at devaluing their currency then the other. Commodities trade similiar, and until the US starts selling gold for $200 USD, nobody is going to want the dollar.
yes all all currencies are being devalued, on purpose, by our private central bankers, its called inflation and its a bitch
  • #23
  • Apr 21, 2008 2:03pm Apr 21, 2008 2:03pm
This guy is the most knowledgable in the energy industry

http://www.star-telegram.com/ed_wall...ry/541726.html

http://www.businessweek.com/lifestyl...e+with+readers

we are being screwed - by media, bush admin, and most of all, speculators
  • #24
  • Apr 21, 2008 3:50pm Apr 21, 2008 3:50pm
so u guys c oil above 120$ in the next few weeks
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #25
  • Apr 21, 2008 3:53pm Apr 21, 2008 3:53pm
Just want to mention that all the talk how weak dollar helps US exports and trade balance is just not relevant since monthly hole in the trade balance is roughly equal to the price of all imported oil.
"Luxury is one of the basic needs", (c), Don Corleone
  • #26
  • Apr 21, 2008 4:43pm Apr 21, 2008 4:43pm
Quoting Turveyd
Errrrrmmm, we are simply running out of oil, supply is barely able to meet demand, wait and see the price when supply doesn't meet demand.

Our way of life is going to change over the next few years, people are already starving because of it, in time we will all soon follow.

There is no way without new tech to replace it, which isn't in site, that the world can support the population as it is.


Billions will die!!!
haha a doomer?

dont you think you are being a bit pessimistic now? we will have to adapt to new circumstances, we have done that before. i agree, its going to be hard, but by just stopping this ethanol madness we can bring more oil, natural gas and food in to the market. not to speak about conservation, there is an ocean of oil to be saved in conservation, on top of that, some really nice, clean alternatives are seeing the light of day(hint: investment opportunities)

oh, and oil production(real oil, not all liquids wich include bitumen, LNG, Ethanol etc.) set a new record high last month, the last one was set in 2005, may i believe.
  • #27
  • Apr 21, 2008 5:32pm Apr 21, 2008 5:32pm
Oil is just as any other commodity, going through this fast inflationary period. Bubbles will burst across the board - eventually.
  • #28
  • Apr 21, 2008 6:42pm Apr 21, 2008 6:42pm
Quoting cesarnc
Oil is just as any other commodity, going through this fast inflationary period. Bubbles will burst across the board - eventually.
yes, oil is like every other commodity, finite. i think. ... .
  • #29
  • Apr 21, 2008 6:52pm Apr 21, 2008 6:52pm
Sorry VEC it WILL happen, it's already happening in poorer countrys which will only get worse, the richer countrys will ofcourse be the last ones to suffer.

But on the plus side, it solves global warming so no point worrying about that, no oil, 1/10th global population and thats fixed.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #30
  • Apr 21, 2008 7:01pm Apr 21, 2008 7:01pm
Human being has not demostrated in the past that is able to control everything and sometimes things get out of control. And I think this can be one of them. Energy, water and huge population on earth is a very serious problem. Energy and Water maybe can be solved temporarily with technology but population seem unstoppable.

All of you as forex traders should know about cycles... now do a study of the cycles in world wars in the past.. do some charts... and look at the calendar now.

politicians should not be allowed to do personal business. It should be a vocational profession. yes I let you laugh now.
  • #31
  • Apr 21, 2008 7:12pm Apr 21, 2008 7:12pm
Quoting emda
Human being has not demostrated in the past that is able to control everything and sometimes things get out of control. And I think this can be one of them. Energy, water and huge population on earth is a very serious problem. Energy and Water maybe can be solved temporarily with technology but population seem unstoppable.
You nailed it, emda. One of the main themes on global warming is about population and this is being kept out of the discussion for some reason (religion, politics, economics, whatever).

Increasing population is directly related to the capacity of the planet to support it - resources - water, food, energy. One of the main oil "burners" is agriculture (+ freight = huge oil consumption). Biodiesel can replace the freight part of the equation, but not the agricultural.

Organic foods can replace the agricultural side of the equation, but then inflation will increase and we can't be sure the planet is able to handle it without the boosters (pesticides, GMOs, so forth).

I once read that if the entire world had the same consumption levels compared to the USA, we would already need another planet to suck out resources (a.k.a. commodities).

And there are yet to come some hundreds of millions of consumers to show up in China, pockets getting fat, intending to ring the cashiers
  • #32
  • Apr 21, 2008 7:15pm Apr 21, 2008 7:15pm
Quoting xxDavidxSxx
This is getting out of hand. This thing just won't stop climbing. Hitting $117 and staying above 116.50.
I am looking at $3.50 and above for gas prices in the south east, and more in other places.
Some one needs to do something, and do it fast. When travel season gets here they always raise prices. There will be no traveling. Air lines will keep falling out of business.

I guess Bush administration is allowing this because there so heavily invested in oil, let it ride as high as possible in his last few months in office, and take profits just before he leaves and the new president does something to drive prices down?

If this thing is allowed to go much further the whole country will shut down.
Welcome to the new World!! Problem is someone else has what we need if ya know what I mean.
Check Mate GAME OVER
  • #33
  • Apr 21, 2008 7:25pm Apr 21, 2008 7:25pm
I believe the day shall pass when only highly rich folk will be able use air transpo... Now maybe we can make energy out of pine trees? Think it sounds nuts? Not sure but someone thinks not.

Energy-->> will get out of control...
Check Mate GAME OVER
  • #34
  • Apr 21, 2008 7:29pm Apr 21, 2008 7:29pm
Quoting bunton
I believe the day shall pass when only highly rich folk will be able use air transpo... Now maybe we can make energy out of pine trees? Think it sounds nuts? Not sure but someone thinks not.

Energy-->> will get out of control...
We can get back to the bikes, plant our own lettuce in the backyard and raise a handful of pigs to ensure the daily meal.

But that is getting back to what China is now. They will be really pissed off if we do that. When they finally show up at the party, it's over
  • #35
  • Apr 21, 2008 8:36pm Apr 21, 2008 8:36pm
In Europe gas is already $9 at the pump, and life has not ceased to exist.

if you adjust for inflation oil has been more expensive than this in the past..
  • #36
  • Apr 21, 2008 10:51pm Apr 21, 2008 10:51pm
Quoting bhale
This guy is the most knowledgable in the energy industry

http://www.star-telegram.com/ed_wall...ry/541726.html

http://www.businessweek.com/lifestyl...e+with+readers

we are being screwed - by media, bush admin, and most of all, speculators
Are WE not speculators?
  • #37
  • Apr 21, 2008 11:33pm Apr 21, 2008 11:33pm
Or we could go nuclear for source and power our cars on H2.

Most of this is just dollar inflation. Take a looksie at the USD index and how it matches with oil and gas futures.
  • #38
  • Apr 22, 2008 8:08am Apr 22, 2008 8:08am
some people have water problems today because other are wasting theirs.

organic food production wont be able to feed humanity due to the fact that the soil in todays farm land is cmopletely depleted, to grow anything fertilizers derived from oil needs to be used, its going to take a long time to restore these areas. biodiesel cannot replace oil for transportation because oil and natural gas is used to make biodiesel, hardly an energy winner and we are better of eating our crops. redirecting transportation from highways and the air to railways and sea is the way to go.

this doesnt solve global warming in any sort of way, its makes it worse. just look at the booming coal industry.

nuclear power will not replace fossil fuels any time soon due to the fact that its extremely expensive to build nuclear powerplants and they require wast amounts of fresh water. one nuclear power plant takes 10-15 years to build, one power plant have a life span of 30 years. that means that we can calculate the number of reactors we will have online in 15 years. if remember correctly, we will have about 240 commercial nuclear reactors in 15 years, compared to todays 439. add to this the fact that there arent enough people with the right skills to get this nuclear boom going. uranium is also going into decline in the not to distant future, thorium reactors can be built though.

i agree, we have a population issue, but i just dont buy in to the idea that we are all going to starve to death, there will be changes in all our lives, we are just goin to have to adapt.

as i said, there are alternatives being developed. check out, for example: CSP , Magenn , oceanic turbines , gorlov , energy island , geothermal steam reactors etc etc

a byproduct of some of these technology“s is fresh water, derived from saltwater, and plenty of it.

i get the feeling that some guys here are reeding to much matt savinar...
  • #39
  • Apr 22, 2008 12:20pm Apr 22, 2008 12:20pm
We have water problems because towns have sprung up in arid places. It's hard to sustain desert cities without piping in a lot of water, but if we invest in desalination we could fix that problem.

Here in the midwest we have a lot of land that's no where near depletion, I wouldn't worry about that for at least a few hundred years.

Biodiesel and cellosic ethanol can replace gasoline in the short term, if derived from algae and grasses it would be a net gain, but long term it doesn't fix our problems... it just makes them messier. H2 is the cleanest transmission method we have for chemical energy.

Nuclear plants could be built if regulation was trimmed down, right now it's a mess of hurdles. The nice thing about them is that the fuel used is re-usable, google for "breeder reactor" for more info. It's actually possible to turn waste fuel into more fuel. Properly used, we won't run out of fuel for thousands of years, if not longer. It only takes 5 years to train someone with a masters in nuclear engineering, and about 2 years to train someone as a technician. I wouldn't be worried about the skillset, if the jobs were there the people would come.

Most of today's "alternate energy" is just not dense enough. They provide, at most, a few hundred KWs to 1MW. Barely enough to make the project worth doing. What we need are gigawatt facilities, our infrastructure and mindset just isn't ready for a diversified power grid. Solar cell technology has reached a point where demand is needed to decrease production costs, but the demand isn't there because of the current production costs.
  • #40
  • Apr 27, 2008 2:44am Apr 27, 2008 2:44am
sound interesting here,
probably oil will moving up but who knows anything can happen isn't that true
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