Oil Price

Andy Hunt · Post by **Andy Hunt** » 19 Apr 2006, 10:21

Governments would bring in taxes to dampen oil demand while industrial users would switch fuels

Am I being thick or is this complete gibberish? At $100 a barrel, why would governments have to bring in taxes to dampen demand - surely the price would do that anyway?

What industrial users would 'switch fuels' from oil to something else? There aren't many power stations which burn oil, and as for those industrial users who need oil specifically (e.g. transport companies), what alternative fuels could they possibly use?

The Guardian assessment seems incredibly glib.

Ballard · Post by **Ballard** » 19 Apr 2006, 10:53

You're right, it's nonsense, interesting in as much as the Guardian have written some decent articles on ?Peak Oil?, and then seem to forget all about it the next month and write articles such as this.

Right hand not knowing what the left is writing methinks.

Totally_Baffled · Post by **Totally_Baffled** » 19 Apr 2006, 19:27

Nymex Crude Future 71.95 .60 .84 13:51
IPE Crude Future 73.85 1.34 1.85 14:13
Dated Brent Spot 73.92 1.62 2.24 14:23
WTI Cushing Spot 71.90 .55 .77 14:07

$73.92 for brent!

StephenCurran (Stef) · Post by **StephenCurran (Stef)** » 19 Apr 2006, 19:39

Totally_Baffled wrote:Nymex Crude Future 71.95 .60 .84 13:51
IPE Crude Future 73.85 1.34 1.85 14:13
Dated Brent Spot 73.92 1.62 2.24 14:23
WTI Cushing Spot 71.90 .55 .77 14:07

$73.92 for brent!

Good God!
I think I'll watch Bloomberg for a while.

biffvernon · Post by **biffvernon** » 25 Apr 2006, 13:56

biffvernon wrote:
On October 6th 2005 I started a thread thus:

"Hear BP Chairman Lord Brown talking on Radio 4 PM Programme? He says 'medium term' oil price will be around $40 and 'long term' $20 - $30."

http://www.powerswitch.org.uk/forum/viewtopic.php?t=876

I wonder if Brown still maintains this view?

Today we get some more of Lord Brown's thoughts via the BBC
He says:

if crude oil prices keep going up, and we don't fully understand why crude oil prices are going up at this rate, then indeed they may well create the price of petrol above a pound a litre

and he now says that oil prices were expected

to remain strong

Maybe snowhope should be given the chairmanship of BP as a reward for winning the $70 competition. He clearly understands more than Lord Brown

ianryder · Post by **ianryder** » 25 Apr 2006, 15:11

and we don't fully understand why crude oil prices are going up at this rate

hmm...is this preparing for the shock they will have to feign when prices go through the roof and TSHTF? "Oooh, how could that have happened? We really did think we had lots of oil...it must be the Arab's fault as we always tell the truth"

snow hope · Post by **snow hope** » 25 Apr 2006, 23:54

LOL - gladly accepts new position and SALARY!

I find it very hard to accept what these people say. They are not thick, yet they pretend they don't really understand what is going on. Just like the senior politicians, they must know (far more than us) what is really happening in their industry.

Increasingly I have come to realise that a big game is being played in which the world population is being conned completely regarding our future. As said in the Monbiot thread, it is becoming very clear that their are no alternatives to our black gold, no silver bullet, no civilisation-saving technology, especially not a hydrogen economy. We will have to simply accept we are moving into a completely different way of life, that will be much lower energy and we are going to have to get used to it whether we like it or not.

The crux for me (as ever) is how painful the changes will be - and how massive the changes will be for our society and Western civilisation. My views have not changed (unfortunately) - I think we would find it very hard to comprehend how bad it is really going to become......

The most burning question for me is when will the downslide start to happen for real. I hope it will not be for a few years yet - my expectations are a tad gloomier.... but hey, I could be completely wrong.

Andy Hunt · Post by **Andy Hunt** » 26 Apr 2006, 10:30

The crux for me (as ever) is how painful the changes will be - and how massive the changes will be for our society and Western civilisation. My views have not changed (unfortunately) - I think we would find it very hard to comprehend how bad it is really going to become......

The most burning question for me is when will the downslide start to happen for real. I hope it will not be for a few years yet - my expectations are a tad gloomier.... but hey, I could be completely wrong.

I must admit, I've been getting a real 'end is nigh' kind of feeling recently, like 'the end of the world (as we know it)' isn't too far away . . . like all possible pathways to the future just kind of finish in a dead end.

I think it will be like a kind of judgement day for humanity, and when it happens, it will highlight every individual's attitude to life, nature and the planet.

Someone once said that whoever hates his life in this world will keep it in the next. I can really see this happening! All the drop-outs, green hippies and doom-mongers will suddenly be seen in a new light . . . and be proved right at last!

Whether or not that's a good thing depends on your perspective, I suppose . . .

dudley · Post by **dudley** » 27 Apr 2006, 10:26

I've been watching a lot of CNN in my hotel room here in Berlin and every other story is about oil, gas prices, Iran, Russia or Nigeria. Bush looked almost gleeful when he said he couldn't really do anything about oil prices. Then there are the stories about how great the stock market is doing. Snowhope is right: our "leaders" are conning us. The world is changing fast. I sometimes think of Barry McGuire singing Eve of Destruction. Sorry for this rant.

Totally_Baffled · Post by **Totally_Baffled** » 01 May 2006, 20:43

PETROLEUM ($/bbl)
PRICE* CHANGE % CHANGE TIME
Nymex Crude Future 73.70 1.82 2.53 05/01
IPE Crude Future 73.89 1.87 2.60 14:54
Dated Brent Spot 72.00 1.18 1.67 04/28
WTI Cushing Spot 73.35 1.47 2.05 14:01

OMG the price has rebounded already! They didnt even drop below $71 on this cycle.

I want my mommy!

john.rico · Post by **john.rico** » 02 May 2006, 09:32

I've been watching a lot of CNN in my hotel room here in Berlin and every other story is about oil, gas prices, Iran, Russia or Nigeria. Bush looked almost gleeful when he said he couldn't really do anything about oil prices. Then there are the stories about how great the stock market is doing. Snowhope is right: our "leaders" are conning us. The world is changing fast. I sometimes think of Barry McGuire singing Eve of Destruction. Sorry for this rant.

This alternative version is even more fitting - Kubical Xphere - Eve of Destruction

http://www.archive.org/details/Eve_of_Destruction

biffvernon · Post by **biffvernon** » 04 May 2006, 22:02

The price volatility over the last few days is neatly summed up by these two 'Oil Headlines' at321Energy
May 04 Oil prices fall in Asian trade (Sify)
May 04 OPEC oil price hits record high (Xinhua)

tristan · Post by **tristan** » 06 May 2006, 14:57

I read in the Guardian the other day that whilst the oil price is at $75, and is nearly at the $82 inflation adjusted equivalent in 1982, we produce the same economic output for just $41 of oil today as we did for $75 of oil in 1982. What the Guardian didn't go to tell us was that this means it would require oil to increase to $126 to have the same effect on the economy as oil at $82 did in 1982. So when people say 'well we aren't seeing recession at $75 a barrel' can the reply be that this is because it hasn't hit the same inflation and oil-use adjusted figure?

Post by **mikepepler** » 09 May 2006, 16:24

Looking at yet another day of wild oscillations in the oil price, I was wondering whether this kind of thing happened in the past? Was it ever normal to see $1-$2 swings back and forth in the space of hours, or even minutes?

Tess, can you access old records to see?

RevdTess · Post by **RevdTess** » 09 May 2006, 16:34

mikepepler wrote:Looking at yet another day of wild oscillations in the oil price, I was wondering whether this kind of thing happened in the past? Was it ever normal to see $1-$2 swings back and forth in the space of hours, or even minutes?

Tess, can you access old records to see?

It's definitely a recently phenomenon. I think the rise of electronic trading has had a lot to do with it. Crude oil trading is a lot more accessible than it used to be.