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  1. #1
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    Oil Bubble article...good read

    'Until things are brighter, I'm the man in black.'

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    Re: Oil Bubble article...good read

    Good article, but trading at $120 isnt' exactly a bubble collapse yet when oil was at $30 per barrel just 5 or 6 years ago.

    The fundementals still suggest higher oil prices are here to stay.



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    Re: Oil Bubble article...good read

    The pleasant thing here is that, if the slide continues, the sting will be remembered by speculators for a while. Hopefully that memory will provide stability to the market.



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    Re: Oil Bubble article...good read

    Oil should go no lower than $100 where price support exists.


    Let my Fred's Posse Ride: Georges, Naz, Hogue, Bryce, Nader, Monte, Matt, and McKay.

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    Re: Oil Bubble article...good read

    Quote Originally Posted by Bobber View Post
    Good article, but trading at $120 isnt' exactly a bubble collapse yet when oil was at $30 per barrel just 5 or 6 years ago.

    The fundementals still suggest higher oil prices are here to stay.
    I'd say the basis is probably not too far below where it's trading at today. There was certainly SOME speculation involved in this latest build-up, but there were fundamental reasons for some of that speculation that simply haven't been addressed, though it's good news that US consumption has declined significantly.

    I don't think we will ever see $30/bbl oil again. The supply of $30bbl oil just isn't there (i.e. oil costs more to extract and deliver than $30/bbl at the current rates of consumption).


    "Homemade beer, after all, is like a democracy. Every so often, youíre gonna hate what comes out of it. But when itís good, itís the best." - woot.com

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    Re: Oil Bubble article...good read

    I've posted this before, but imo nothing will affect the price of oil more than the rhetoric and our relationship with Iran. We've backed off for now, but if the rhetoric steps up and bombing Iran looks imminent (by either us or Israel), we'll see oil skyrocket again. If Iran is actually bombed, $150 oil will look cheap.



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    Re: Oil Bubble article...good read

    I am going to predict that oil will be below 100 dollars per barrel by the end of the month. The market took another 3 dollar drop today and there has only been one day in the past month that it rose.



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    Re: Oil Bubble article...good read

    I predict that I have no idea where oil will be at any point in the future...



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    Re: Oil Bubble article...good read

    Even if oil prices drop I hope that americans continue to curb oil usage and look into other energy sources and technology.



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    Re: Oil Bubble article...good read

    Quote Originally Posted by acrozier22 View Post
    I predict that I have no idea where oil will be at any point in the future...
    That is the most accurate quote I have heard in regards to the oil market in a long time...



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    Re: Oil Bubble article...good read

    So where have the speculators moved off to? Or did they lose their shirts?


    Let my Fred's Posse Ride: Georges, Naz, Hogue, Bryce, Nader, Monte, Matt, and McKay.

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    Re: Oil Bubble article...good read

    Quote Originally Posted by acrozier22 View Post
    I predict that I have no idea where oil will be at any point in the future...
    I'm hoping that it settles in the $90-$100 range, but you're right, I'm just pulling that one out of my *** as well.



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    Re: Oil Bubble article...good read

    Quote Originally Posted by Wesley View Post
    So where have the speculators moved off to? Or did they lose their shirts?
    They are making money. You can make money shorting markets also. Here is a hint: insiders are always making money, lots of it. Even in harsh times. That is why it is always good to be an insider. My best advice to people: become an insider. No matter what you do, be in on the decision making process, or at least know more about it than the average person, and you should do really well in life.

    Oil may stabilize, and we do need to look at other options moving forward. Renewables, conservation, more drilling, oil shale production. Get after it. Limit the environmental impact, but start today and do something. Don't talk. Don't cry. Don't complain that people are making money. Don't like how it is being done? Find a better way. Support those looking into different solutions. Don't sit on your bum and cry about things though. Last I checked, that never even fixed a flat tire. Don't sit there listening to people telling us we can't. We are Americans dammit. We can do anything.


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    Re: Oil Bubble article...good read

    acrozier22- I'll give you that one, nobody knows where oil will be because nobody knows what will happen in the next 6-12 months. But I'll make a bet with you with $150 oil being the over-under. If Iran is bombed, I'll take the over.



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    Re: Oil Bubble article...good read

    Quote Originally Posted by joefrog View Post
    Oil may stabilize, and we do need to look at other options moving forward. Renewables, conservation, more drilling, oil shale production. Get after it. Limit the environmental impact, but start today and do something. Don't talk. Don't cry. Don't complain that people are making money. Don't like how it is being done? Find a better way. Support those looking into different solutions. Don't sit on your bum and cry about things though. Last I checked, that never even fixed a flat tire. Don't sit there listening to people telling us we can't. We are Americans dammit. We can do anything.
    Love it!!! My vote for post of the day.


    "The Constituiton...is a mere thing of wax in the hands of the judiciary, which they may twist and shape into any form they please."- - -Thomas Jefferson, Sept. 6, 1819.

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