Moderator: Peak Moderation
I'd say now that we've solved the "which is stronger, peak oil supply driven decline or demand destruction because of higher prices" question, its time to get on enjoying the obvious benefits of the answer!snow hope wrote:Yep, the ticker says $55.25
That's recession for you then!
I dont think the current price reflects demand destruction. The true cause and effect is that oil prices go up when the economy is growing and fall when the economy is contracting.RGR wrote: I'd say now that we've solved the "which is stronger, peak oil supply driven decline or demand destruction because of higher prices" question, its time to get on enjoying the obvious benefits of the answer!
I think current price reflects all kinds of things, including the bursting of the commodity bubble.SILVERHARP2 wrote:I dont think the current price reflects demand destruction. The true cause and effect is that oil prices go up when the economy is growing and fall when the economy is contracting.RGR wrote: I'd say now that we've solved the "which is stronger, peak oil supply driven decline or demand destruction because of higher prices" question, its time to get on enjoying the obvious benefits of the answer!
My Welsh friend M left to visit his estate in Harare this last Sunday. With him two enormous suitcases packed with goodies for the in-laws and family retainers.RenewableCandy wrote:How about a tour of Zimbabwe?
ok ok , we are entering recession but this is some price collapse!Options Traders Bet Oil Will Fall Below $45 a Barrel in January
It seems to be 'some recession', from all the signs.Totally_Baffled wrote:http://www.bloomberg.com/apps/news?pid= ... fer=energy
ok ok , we are entering recession but this is some price collapse!Options Traders Bet Oil Will Fall Below $45 a Barrel in January
$147 to potentially below $45 in 7 months!
Incredible!
Eternal Sunshine wrote: I wouldn't want to worry you with the truth.
moreThe London-based CGES, a think-tank founded by former Saudi oil minister Ahmed Zaki Yamani, said OPEC's October 24 agreement to cut production by 1.5 million b/d had so far failed to halt the price slide "and will not do so until real output cuts have been implemented."
Oil demand forecasts continue to be revised downwards, with a year-on-year contraction in global oil demand this year and next "now a very real possibility for the first time for 25 years," it said.
"The path of oil prices will depend on how, and how quickly, OPEC cuts production in response to the falling demand for its oil," it said.
Jeez. Who'd have thought it? Those merkin financiers really did now how to reduce America's dependency on foreign oil!!! Simply make Joe Plumber too poor to buy itbiffvernon wrote:Looking in the rear view mirror:moreThe London-based CGES, a think-tank founded by former Saudi oil minister Ahmed Zaki Yamani, said OPEC's October 24 agreement to cut production by 1.5 million b/d had so far failed to halt the price slide "and will not do so until real output cuts have been implemented."
Oil demand forecasts continue to be revised downwards, with a year-on-year contraction in global oil demand this year and next "now a very real possibility for the first time for 25 years," it said.
"The path of oil prices will depend on how, and how quickly, OPEC cuts production in response to the falling demand for its oil," it said.
Sure has been more affective than simply saying 'cut back on oil please'. Let's hope 'merkins get down to some real innovation now, rather than innovation of financial weapons of mass destruction. Some decent low impact wooden 1kw wind turbines made from old washing machines and larch would be nice. And some solar PV's made from old satelite dishes and winnebago roofs.So they're finally going to try to compete with the Chinese, then?SunnyJim wrote:Some decent low impact wooden 1kw wind turbines made from old washing machines and larch would be nice.
Eternal Sunshine wrote: I wouldn't want to worry you with the truth.
New wind turbine not working out Andy?Andy Hunt wrote:So they're finally going to try to compete with the Chinese, then?SunnyJim wrote:Some decent low impact wooden 1kw wind turbines made from old washing machines and larch would be nice.
SunnyJim wrote:New wind turbine not working out Andy?Andy Hunt wrote:So they're finally going to try to compete with the Chinese, then?SunnyJim wrote:Some decent low impact wooden 1kw wind turbines made from old washing machines and larch would be nice.
Eternal Sunshine wrote: I wouldn't want to worry you with the truth.
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