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Sweet, sweet Oil

  • #101
  • Jun 7, 2008 11:24am Jun 7, 2008 11:24am
23 years chart
scary... we need other energy sources

http://www.clasesdebolsa.com/uploads/petroleo.jpg
  • #102
  • Jun 7, 2008 12:35pm Jun 7, 2008 12:35pm
Quoting falwic
most opec countries hidding thair oil reserv. or even how much oil is underground....

maybe thay have not 260billion barrels but 5 - 10 -100 times more? if so oil is overpriced...we have oil for hungred years...

some ppl saying "oil peak" is a fact...
The Peak Oil theory is not about oil drying up, but about the production capacity of the oil industry being outstripped significantly by demand. Oil production has been in decline since the 70s and this past decade has seen a massive increase in demand from India and China as they rush to modernize. With the only untapped oil fields being those that are tough to reach or not as viable as crude oil, such as shale oil, it's going to be very hard, if at all possible, to match growing demand through our usual oil extraction and refining methods. That's why we need to find alternative sources of energy, in addition to the whole CO2 emissions deal.

We have plenty of oil underground, we just can't extract/refine it nearly fast enough.


Quote
But why Russia is not in OPEC and selling as much as thay can ?
There are 2 theories... oil is running out and 2nd one (russian) there is a 2nd ecosystem deepo underground where nonoxygen bacteria take methan from rocks and prod. oil... so oil cannot be out or we have much more oil than some greed ppl estimates...

its easy... US dont want to Curb oil consumtion... like EU after Iranian crisis long time ago....

opec gets $ dollars... thay cannot spend (now maybe in catar...) all thay can do is... getting US bonds/tbils/treasuries and stuff like that... So in my opinion US car drivers when buying oil for 3$/gal 2,5$ is returning to US gov... hidden tax... Why no diesel in US or even cars with low oil consumtion ?

All of this sounds very conspiracy theory like to me.
  • #103
  • Jun 7, 2008 12:43pm Jun 7, 2008 12:43pm
hey guys oil peaking these 2 days wasnt because supply demand issues

it was mainly because israel threatened iran with war and because dollar fell due to trichet.

so no supply demand issues in fact saudi arabia and opec said there will be an increase in production.

so keep an eye on the middle east and u will notice how oil reacts to the political issues.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #104
  • Edited 2:37pm Jun 7, 2008 1:14pm | Edited 2:37pm


http://msnbcmedia1.msn.com/j/msnbc/C...d_8p.widec.jpg
"What do you think of MY peak, dad?"
Attached Image
  • #105
  • Jun 7, 2008 1:22pm Jun 7, 2008 1:22pm
my thinking is that oil will stop at 140/141, then start a long-term downtrend
  • #106
  • Jun 7, 2008 3:29pm Jun 7, 2008 3:29pm
145.33 will be the next stop, if that is not resistance we are looking at 151.63. If neither of these levels can hold we are looking at 159.43, if thats not a ceiling, then on to 168.15. I don't think this beast will reverse anytime soon, being driven by hysteria. I'm sure big oil is loving the record profits, but this will be to their demise. I would not be surprised to see $7-$10 gallon in the next couple years. Major change is coming to life as we know it today. Hydrogen and electric, Oil has died on the stage, you're up! It's your turn to shine.
  • #107
  • Jun 7, 2008 6:55pm Jun 7, 2008 6:55pm
145.33 / 151.63 / 159.43 or 168.15. What happened to the 3's on the 168 number? And where do these numbers come from anyway?
  • #108
  • Jun 7, 2008 7:01pm Jun 7, 2008 7:01pm
I only say, be very quiet/warning about going long now, this looks like an exaustion up-move, it is not very "safe" to long at this point, look and study the chart very well before get in the long-train, sure maybe i'm wrong, but it all looks like a big bull-trap, that kind of traps that kill impulsive traders.
  • #109
  • Jun 7, 2008 7:33pm Jun 7, 2008 7:33pm
Ok, I'm gonna post the bigass chart AGAIN, in the SAME PAGE, in case somebody is STILL thinking about goint SHOT OIL

http://www.clasesdebolsa.com/uploads/petroleo.jpg

Yes, pissed off coz all I got is PMs and MSNs asking me, "hey dude, I'm short oil $130, $133, $137, do you think it will even come down again?"

hmmmm. NO?
  • #110
  • Jun 7, 2008 8:18pm Jun 7, 2008 8:18pm


Picking tops is bad, mmkay!
The market reveals who we really are...
  • #111
  • Jun 7, 2008 8:29pm Jun 7, 2008 8:29pm
Quoting emda
interesting

http://ngm.nationalgeographic.com/20...l/roberts-text
That was quite a writing! very informative!
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  • #112
  • Jun 7, 2008 11:14pm Jun 7, 2008 11:14pm
I wish I could have long oil at 100 $ a barrel!!!! Does it gonna stop? What are we gonna do... pay 10 $ a gallon... we gonna wake up just to go to work to pay the gas bill... we need a revolution!!! Thats insane!!! I don't want to live in that kind of world!!!
  • #113
  • Jun 8, 2008 3:04am Jun 8, 2008 3:04am
oil will eventually have less demand to it not to mention the many many protests to come and plus i dont think it will be very long till its replaced in cars.

u c they have just created a car that runs for 500km on 5 kg of hydrogen which cost a total of 20$
if i am not mistaken the car was a toyota im not sure. so we are actually going somewhere meaning that oil will be replaced so they are probably trying to get as much out of it as they can be4 demand falls. thats y political distress is being caused everytime it falls down a bit.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #114
  • Jun 8, 2008 5:49am Jun 8, 2008 5:49am
I have just read that Richard Rainwater .. who invested 300 million $ 11 years ago in oil... he has just sold everything with more than 2.000 millions profit.

Read the article

http://www.time.com/time/magazine/ar...812073,00.html

mmmmm
now the question is... where has put the money now ?
  • #115
  • Jun 8, 2008 5:53am Jun 8, 2008 5:53am
enjoy with the latest oil barrels... lol

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  • #116
  • Jun 8, 2008 6:33am Jun 8, 2008 6:33am
I don't think several countries are hiding their reserve oil. I know the US is keeping tabs of how much to release their oil reserve to the consumers because of the uncertainty of when we are going to run out of oil. The US does not have that big of a tank of oil to run the country mainly on oil. The world needs other alternative fuel sources. Once, those fuel sources are steady reliable and usable, the oil price will be coming back down. But for now, I don't see the competition with oil any time near the future.
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  • #117
  • Jun 8, 2008 7:00am Jun 8, 2008 7:00am
Quoting forexpert
I don't think several countries are hiding their reserve oil. I know the US is keeping tabs of how much to release their oil reserve to the consumers because of the uncertainty of when we are going to run out of oil. The US does not have that big of a tank of oil to run the country mainly on oil. The world needs other alternative fuel sources. Once, those fuel sources are steady reliable and usable, the oil price will be coming back down. But for now, I don't see the competition with oil any time near the future.
Brazilian Petrobras has reported several huge reserve findings. They did dick for oil price.

It's all about dollar weakness and speculation rather than anything else, imho.
  • #118
  • Jun 8, 2008 9:51am Jun 8, 2008 9:51am
Not to mention it is oil refining capability and not oil production.

If they can't turn enough of it into gasoline (or petro as many countries referred) to it then the price at the pump won't go down from current prices.

And the USA being the largest debtor nation and largest consumer of energy means the US$ dollar ain't having any dramatic comeback in value.

I don't care. I'll just keep trading, including that crude beast whichever way it goes.
  • #119
  • Jun 8, 2008 10:26am Jun 8, 2008 10:26am
Quoting cesarnc
Brazilian Petrobras has reported several huge reserve findings. They did dick for oil price.

It's all about dollar weakness and speculation rather than anything else, imho.
That said it all.

And for Salah K., Some dude made a car like that in the 80's but was then found murdered. Coincidence? I doubt it. They won't let that kind of car come out- it cuts down on profit way too much for the big players.
I dream, therefore I become.
  • #120
  • Jun 8, 2008 11:05am Jun 8, 2008 11:05am
Conspiracy theorists never rest on the 24/7/365 internet.
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