For a minute there I thought I had to get off my couch, when all the while the fact is we don't have to do anything much but keep things afloat for just a few decades more! In fact, we'd best shut up about PO, because if our offspring finds out we knew about it all along, they'll turn and wring our necks come 2036!
Posted: Sun Jun 29, 2008 9:43 pm Post subject: Re: Another Record ($142.99)
A few analysts who get it:
Quote:
``There's just no way that we can see prices going down,'' Gavin Wendt, senior resources analyst at Fat Prophets Funds Management in Sydney, said today by telephone. ``We're not finding oil and replacing oil nearly as fast as the rate that we are consuming it.''
Quote:
Jim Rogers, who in April 2006 correctly predicted oil would reach $100 a barrel, sees higher prices for the commodity.
The price of oil will keep rising, ``unless someone finds a major oil field very quickly, in accessible areas,'' Rogers told investors yesterday at a conference in Nanjing, China.
Posted: Sun Jun 29, 2008 10:02 pm Post subject: Re: Another Record ($142.99)
Sys1 wrote:
dohboi : I love your infinity price approach. I did not think about that, even if the EROEI looked also to me as a wall, I didn't linked negative EROEI to infinite price.
This economic viewpoint, meaning trying to translate EROEI to economists , is the best way to make everyone understand what it actually signifies.
Are there not things going on right now that have a negative EROEI? All such activities are 'subsidized' are'nt they? How long can we subsidize tar sands? I like the point, just so you know I am not dissing it.
There is a reason why Sachs, and CERA and alot of other folks who would never have talked about it before are talking $150 and above.
I am actually hoping, maybe secretly that we see a miracle find of new supply and then that we understand this was our warning, we have to diversify. As soon as I entertain that hope it vanishes. And I am left very concerned, not so much for the economy, it does it's thing, and humans have survived alot of stuff, I am concerned for those who are inevitably going to have to go through the same psychological shock that I have struggled with by choice since finding out about this issue. Only many of them are going to get it on the day there is no bread at the Supermarket and the News is talking about Peak Oil non-stop.
It is better to get the information out there. There is no benefit to covering anything up, give the spread of most likely scenarios and let people sort it out. I say that on something like this because the risk here (ala Hirsch) is beyond anything we have ever seen.
If any of the experts felt this was the worst and things were going to get substantially better from here they would say so, and noone really is. Peak Oil my freinds has moved from an issue on the fringe to an issue that those in the know need to know about, it's place in the policy world has changed and will continue to rise within the next two years.
Posted: Mon Jun 30, 2008 4:58 am Post subject: Re: Another Record ($142.99)
Hello all. Where are you following the prices of oil? On nymex.com the prices dissapear sometimes, for example now. Where to follow them when it dissapears on nymex site? Thanks.
Posted: Mon Jun 30, 2008 5:16 am Post subject: Re: Another Record ($142.99)
godq3 wrote:
Hello all. Where are you following the prices of oil? On nymex.com the prices dissapear sometimes, for example now. Where to follow them when it dissapears on nymex site? Thanks.
Posted: Mon Jun 30, 2008 5:27 am Post subject: Re: Another Record ($142.99)
godq3 wrote:
Hello all. Where are you following the prices of oil? On nymex.com the prices dissapear sometimes, for example now. Where to follow them when it dissapears on nymex site? Thanks.
Hello, godq3. Welcome. Go here for current oil prices. Price updates every 1 minute. Can be set to update every 10 seconds.
Joined: Sep 16, 2004 Posts: 4272 Location: Southwest WI
Posted: Mon Jun 30, 2008 7:09 am Post subject: Re: Another Record ($143.67)
Simmons is in an article in the Timesonline this morning talking about the future of oil production. If this is anywhere near true, the future is going to get real ugly, real fast. I still can't see it dropping as low as he is saying at that time.
Quote:
Matt Simmons, chief executive of Simmons & Company, a Houston energy consultancy, said that global oil production had peaked in 2005 and was set for a steep decline from present levels of about 85 million barrels per day. “By 2015, I think we would be lucky to be producing 60 million barrels and we should worry about producing only 40 million,” he told The Times.
Can you imagine the price of oil at 40mb a day! By then the country would be in a depression. _________________ "Oil is going up because we use too much oil, and the capacity to replace reserves is dwindling"
-President Bush 11/07/07
Joined: May 18, 2006 Posts: 3940 Location: Minneapolis, MN
Posted: Mon Jun 30, 2008 7:27 am Post subject: Re: Another Record ($143.67)
frankthetank wrote:
Simmons is in an article in the Timesonline this morning talking about the future of oil production. If this is anywhere near true, the future is going to get real ugly, real fast. I still can't see it dropping as low as he is saying at that time.
Quote:
Matt Simmons, chief executive of Simmons & Company, a Houston energy consultancy, said that global oil production had peaked in 2005 and was set for a steep decline from present levels of about 85 million barrels per day. “By 2015, I think we would be lucky to be producing 60 million barrels and we should worry about producing only 40 million,” he told The Times.
Can you imagine the price of oil at 40mb a day! By then the country would be in a depression.
Posted: Mon Jun 30, 2008 7:37 am Post subject: Re: Another Record ($143.67)
Matt Simmons also got an article into the New Scientist last week as part of there Oil Shock special. New Scientist seem to be moving quietly into the peaker camp.
Stock market not looking pretty. _________________ "Oil is going up because we use too much oil, and the capacity to replace reserves is dwindling"
-President Bush 11/07/07
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