Current Oil Price

Discussion of the latest Peak Oil news (please also check the Website News area below)

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SunnyJim
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Post by SunnyJim »

RalphW wrote:The price ticker shows a high of $135.04 this morning.

whistles nonchalantly and backs away slowly...
Yeah, sod the footy! Look at that! $5 over night!!! Must be the FT and WSJ articles seeping into those sepeculators veins.....

Only a matter of days before Motley Fool send out their first "How to profit from Peak Oil" email. :twisted:
Jim

For every complex problem, there is a simple answer, and it's wrong.

"Heaven and earth are ruthless, and treat the myriad creatures as straw dogs" (Lao Tzu V.i).
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Vortex
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Post by Vortex »

RalphW wrote:The price ticker shows a high of $135.04 this morning.

whistles nonchalantly and backs away slowly...
Can't find that ... which ticker was it?
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Mitch
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Post by Mitch »

Look at the bottom of this page - it's still there - $135.04
Mitch - nb Soma
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PowerSwitchJames
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Post by PowerSwitchJames »

And to think we tried to get people concerned when oil was at $50!

Seriously, when PowerSwitch started, oil was at, I think, $25. I remember when it hit $35 it seemed like a big thing and $50 was WOW!...
www.PowerSwitch.org.uk

'Being green is not what you think, it is what you do.'
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Vortex
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Post by Vortex »

Mitch wrote:Look at the bottom of this page - it's still there - $135.04
Ah, OK. I scanned the back history of LiveQuote and couldn't see it there.
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SunnyJim
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Post by SunnyJim »

PowerSwitchJames wrote:And to think we tried to get people concerned when oil was at $50!

Seriously, when PowerSwitch started, oil was at, I think, $25. I remember when it hit $35 it seemed like a big thing and $50 was WOW!...
How many 2 year futures did you buy James :wink:
Jim

For every complex problem, there is a simple answer, and it's wrong.

"Heaven and earth are ruthless, and treat the myriad creatures as straw dogs" (Lao Tzu V.i).
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biffvernon
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Post by biffvernon »

Silas wrote: Strange that the BBC don't really seem to have even noticed oil at $134 a barrel nor mentioned peak oil.
Oh no, Radio 4 Today Programme had three major items about oil prices between 6am and 9am this morning, including talk of Peak Oil.
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Mitch
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Post by Mitch »

Near enough $135 right now. Bollocks, what IS going on? Anyone know? Can't find it myself......

If there has been no real scare, then is this BAU for the near future???
Mitch - nb Soma
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SunnyJim
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Post by SunnyJim »

Mitch wrote:Near enough $135 right now. Bollocks, what IS going on? Anyone know? Can't find it myself......
Well, a perfect storm is brewing..... oil supply is tight, demand is growing very rapidly (China and India), and the speculators have got wind of it. They are piling the cash into what has suddenly switched from a market dictated by demand to a market that is now clearly dicated by supply.

Goldman analysts speak and the price of oil moves.

I expect oil to have doubled if not more by this time next year. I recon next summer we'll be at $300 per barrel. That will be ?3.00 a litre at the pumps, and ?1.60 per litre for heating oil/red diesel.

That's going to sort the men from the boys eh? And the Women from the Girls!

Our lives are changing in so many ways, and yet it doen't actually feel like anything's changing. Weird. When are people going to stop the BAU thing and realize that buying a new efficient car might only be a very short stop gap solution?
Last edited by SunnyJim on 22 May 2008, 10:32, edited 1 time in total.
Jim

For every complex problem, there is a simple answer, and it's wrong.

"Heaven and earth are ruthless, and treat the myriad creatures as straw dogs" (Lao Tzu V.i).
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Vortex
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Post by Vortex »

I sense that we have hit the POPFL (Peak Oil Positive Feedback Loop).

A handful of key people have realised that long term oil will be rarer and more expensive.

They have bought futures, which has triggered others to review the situation.

They in turn have sussed Peak Oil and have also bought futures.

This activity has triggered media interest, and so more people/firms have learned about Peak Oil and jumped on the bandwagon.

Within a week or two it could all get even more mad as the 'me too' types jump aboard.

You'll be hearing your neighbours intelligently discussing Peak Oil as if they invented it in a few months time!
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Vortex
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Post by Vortex »

It broke through $135 a few minutes back ... then plummetted a few cents .... oh, one sec, it just spiked to 135 again ... and down again ... I feel sea sick ...
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Silas
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Post by Silas »

Biff: Oh no, Radio 4 Today Programme had three major items about oil prices between 6am and 9am this morning, including talk of Peak Oil.
Opps missed that

I skimmed the news....the thing is that's all many people have time to do!

So how many average people are aware of the price of a barrel of oil in January 08 compared to May 08?

Would not more mainstream coverage now be appropriate?

Now would perhaps be a good time for a dose of truth for Mr Average.

:roll: :oops:
A chain is only as strong as its weakest link.
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MacG
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Post by MacG »

Vortex wrote:It broke through $135 a few minutes back ... then plummetted a few cents .... oh, one sec, it just spiked to 135 again ... and down again ... I feel sea sick ...
In a not to distant future, we might be overwhelmed by a feeling of nostalgia at the thought of $135. "Ah, the good old days with cheap oil".

Anyone remember the feeling when we broke trough $50? Words like "uncharted waters" were used.
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Vortex
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Post by Vortex »

Our lives are changing in so many ways, and yet it doen't actually feel like anything's changing. Weird.
The price rises have been so fast they haven't really filtered through yet.

On top of this, many truckers etc have been absorbing the price increases.

However now they will either have to raise their prices or go out of business.

When these high prices finally reach us, life WILL change . . . :shock: :shock:

If you want a dinky fuel efficient car, buy it NOW, TODAY ... or be prepared to pay a lot and/or wait in the queue.
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SunnyJim
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Post by SunnyJim »

Vortex wrote:I sense that we have hit the POPFL (Peak Oil Positive Feedback Loop).

A handful of key people have realised that long term oil will be rarer and more expensive.

They have bought futures, which has triggered others to review the situation.

They in turn have sussed Peak Oil and have also bought futures.

This activity has triggered media interest, and so more people/firms have learned about Peak Oil and jumped on the bandwagon.

Within a week or two it could all get even more mad as the 'me too' types jump aboard.

You'll be hearing your neighbours intelligently discussing Peak Oil as if they invented it in a few months time!
Nail and heads there Vortex.
Jim

For every complex problem, there is a simple answer, and it's wrong.

"Heaven and earth are ruthless, and treat the myriad creatures as straw dogs" (Lao Tzu V.i).
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