SeaGypsy wrote:High $92
Low $68
Close $87
Based on current USD$ values. This year will test price control mechanisms like no other has. There is a strong possibility of US inflation/ hence my base on today's dollar values.
Given how the price bounced in 09 tankers will sit out a dip below $70; above $90 capped wells will open. My logic for what it's worth!
Plantagenet wrote:KingM wrote:So far it looks like the Cornucopian types have been more correct about 2010 than the Doomers. In general.
The year isn't over yet. Quantitative easing (i.e. printing money) has just begun. Devaluing the dollar is bound to make oil and other commodities more expensive for purchasers using dollars.
PeakOiler wrote:Here's the latest scorecard:
SeaGypsy wrote:The main factor most got wrong is the relative lack of volatility.
TheDude wrote:SeaGypsy wrote:The main factor most got wrong is the relative lack of volatility.
So we're headed back to a new normal of ca. $90/bbl? With a steady creep up to ca. 4x that figure? Or?
I like the volatility profile here - looks like a truncated volcanic crater, the most famous example being Crater Lake, formerly Mount Mazama. And we know how that thing wrapped up its career. It isn't extinct, either - you still have hot springs on the bottom of the lake.
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