Quantcast
$30 barrel oil? - Page 46 - Beyond.ca - Car Forums
Page 46 of 81 FirstFirst ... 36 45 46 47 56 ... LastLast
Results 901 to 920 of 1615

Thread: $30 barrel oil?

  1. #901
    Join Date
    Jun 2002
    Location
    Calgary, AB
    Posts
    1,991
    Rep Power
    30

    Default

    Prices up 10-15% right now

  2. #902
    Join Date
    Aug 2004
    Location
    Calgary
    My Ride
    N/A V8, TTV6, DOHC N/A V6
    Posts
    3,196
    Rep Power
    43

    Default

    Quote Originally Posted by roopi View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Prices up 10-15% right now
    Yep, initial gap trade at 17:00MST hit $63.40. Almost $9(!!) more than Friday afternoon.

    Tomorrow will be very interesting.
    "The most merciful thing in the world, I think, is the inability of the human mind to correlate all its contents... some day the piecing together of dissociated knowledge will open up such terrifying vistas of reality, and of our frightful position therein, that we shall either go mad from the revelation or flee from the light into the peace and safety of a new Dark Age."

    -H.P. Lovecraft

  3. #903
    Join Date
    Jan 2008
    Location
    Upstairs
    My Ride
    Natural Gas.
    Posts
    13,332
    Rep Power
    100

    Default

    Well, I'm not big on day to day fluctuations. Very few barrels are truly traded at spot prices. What I want to see is a change in the futures market. That's what sets capital budgets.
    Quote Originally Posted by killramos View Post
    This quote is hidden because you are ignoring this member. Show Quote
    You realize you are talking to the guy who made his own furniture out of salad bowls right?

  4. #904
    Join Date
    Mar 2010
    Location
    Calgary
    My Ride
    Ioniq 5
    Posts
    1,792
    Rep Power
    46

    Default

    Quote Originally Posted by ExtraSlow View Post
    This quote is hidden because you are ignoring this member. Show Quote
    Well, I'm not big on day to day fluctuations. Very few barrels are truly traded at spot prices. What I want to see is a change in the futures market. That's what sets capital budgets.
    I wonder how / if this will even affect the market. They’ll just supply oil from their reserves to make up the difference and then once the facilities are online they’ll top up their reserves again. Saudi has been running below capacity for a while so it’s not like they don’t have the supply to keep up

  5. #905
    Join Date
    Jan 2008
    Location
    Upstairs
    My Ride
    Natural Gas.
    Posts
    13,332
    Rep Power
    100

    Default

    Quote Originally Posted by pheoxs View Post
    This quote is hidden because you are ignoring this member. Show Quote
    I wonder how / if this will even affect the market. They’ll just supply oil from their reserves to make up the difference and then once the facilities are online they’ll top up their reserves again. Saudi has been running below capacity for a while so it’s not like they don’t have the supply to keep up
    For sure there is no supply issue. I'm too lazy to look it up but they can supply from storage for weeks I think. I'll probably read that article again tomorrow and post it if someone doesn't first.

    The short term impact is mostly psychological. If there is long term downtime for those facilities, it could have meaningful effect on global supply.
    Quote Originally Posted by killramos View Post
    This quote is hidden because you are ignoring this member. Show Quote
    You realize you are talking to the guy who made his own furniture out of salad bowls right?

  6. #906
    Join Date
    Aug 2004
    Location
    Calgary
    My Ride
    N/A V8, TTV6, DOHC N/A V6
    Posts
    3,196
    Rep Power
    43

    Default

    Quote Originally Posted by ExtraSlow View Post
    This quote is hidden because you are ignoring this member. Show Quote
    For sure there is no supply issue. I'm too lazy to look it up but they can supply from storage for weeks I think. I'll probably read that article again tomorrow and post it if someone doesn't first.

    The short term impact is mostly psychological. If there is long term downtime for those facilities, it could have meaningful effect on global supply.
    USA alone can almost supply the world for a week. 630mmbbls in storage locally.
    "The most merciful thing in the world, I think, is the inability of the human mind to correlate all its contents... some day the piecing together of dissociated knowledge will open up such terrifying vistas of reality, and of our frightful position therein, that we shall either go mad from the revelation or flee from the light into the peace and safety of a new Dark Age."

    -H.P. Lovecraft

  7. #907
    Join Date
    Jul 2010
    Location
    Homeless
    My Ride
    Blue Dabadee
    Posts
    9,599
    Rep Power
    100

    Default

    Anyone have access to what Cal20 is trading on strip?

    I won’t get reports until tomorrow AM.

    Edit: ~$55, up a bit over 2.50 from Friday’s settle. That’s encouraging, but really shows nothing has changed with all this.
    Last edited by killramos; 09-16-2019 at 08:05 AM.
    Originally posted by Thales of Miletus

    If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
    Originally posted by Toma
    fact.
    Quote Originally Posted by Yolobimmer View Post
    This quote is hidden because you are ignoring this member. Show Quote

    guessing who I might be, psychologizing me with your non existent degree.

  8. #908
    Join Date
    Jul 2008
    Location
    Pallet Town
    Posts
    809
    Rep Power
    0

    Default

    The primary problem with oil is that it is traded mostly for US dollars. You could have a Trillion US dollars, but that still does not buy you Greenland. Likewise 2 Trillion would not buy Alberta.

    Venezuela has the right idea, but is bringing it in from a position of economic weakness.
    0.5 gram microsd delivered by 12,000 pound combustion vehicle and driver.

  9. #909
    Join Date
    Jul 2008
    Location
    Pallet Town
    Posts
    809
    Rep Power
    0

    Default

    https://ca.finance.yahoo.com/news/tr...222107215.html

    Those salt mines contain a significant reserve, but it definitely scares everyone when they pull even a tiny bit out. Power starts to shift again on the idea that Venezuela will be able to weather out any storm and the middle east will not be conquerable.

    Mad Max is literally only 4-6 months of Strategic reserve away. I've always felt that the greater media always downplayed the depletion of oil capacity. Its worthy of note that Canadian oil companies are under obligation to keep Canadian homes warm, and excesses go to the USA.

    Much like water, the man that is closest to the first tap has all the say in whether or not a Coca-Cola plant gets to run another day.

    Its times like this that I'm glad that I've passed middle age - these young people might have a rough time with the changes in available carbon energy.
    Last edited by ZenOps; 09-16-2019 at 08:53 AM.
    0.5 gram microsd delivered by 12,000 pound combustion vehicle and driver.

  10. #910
    Join Date
    Jul 2008
    Location
    Pallet Town
    Posts
    809
    Rep Power
    0

    Default

    Y'know what. I think the 400 to 800 MW solar electric project in Alberta actually spooked the US. Seriously, we are in the heart of carbon country and we are installing solar panels by the millions of panels.

    In which case - Well played!
    0.5 gram microsd delivered by 12,000 pound combustion vehicle and driver.

  11. #911
    Join Date
    Sep 2004
    Location
    Calgary
    Posts
    10,406
    Rep Power
    35

    Default

    I am absolutely stunned that this multi billion dollar facility had zero anti-drone equipment, or at least none that I have read about so far. Quite the oversight IMO.

    I am reading 2-6 weeks until it's back up, so probably not much of an impact on the forward strips.

  12. #912
    Join Date
    Apr 2008
    Location
    calgary
    My Ride
    CLK 55 / 2g Eclipse / EP3
    Posts
    4,422
    Rep Power
    22

    Default

    What a change in speculator sentiment - back in ~2010 if this happened, the reaction would have been insane.

    Does tell you a story though - speculators not involved anymore? = OG on the way out.

    Some analysts are predicting that, with the rise of EVs and renewable in the next 10 years, esp in the EU, that OG needs to re-balance its price to 20$bbl - good bye AB oil if true.

    https://investors-corner.bnpparibas-...petroleum-age/

  13. #913
    Join Date
    Jan 2008
    Location
    Upstairs
    My Ride
    Natural Gas.
    Posts
    13,332
    Rep Power
    100

    Default

    Quote Originally Posted by revelations View Post
    This quote is hidden because you are ignoring this member. Show Quote
    What a change in speculator sentiment - back in ~2010 if this happened, the reaction would have been insane.

    Does tell you a story though - speculators not involved anymore? = OG on the way out.

    Some analysts are predicting that, with the rise of EVs and renewable in the next 10 years, esp in the EU, that OG needs to re-balance its price to 20$bbl - good bye AB oil if true.

    https://investors-corner.bnpparibas-...petroleum-age/
    I've read a couple articles that say things like that. I don't disagree with the concept, but I think the numbers and timelines are totally wrong.
    One way or another, may hay while the sun shines.
    Quote Originally Posted by killramos View Post
    This quote is hidden because you are ignoring this member. Show Quote
    You realize you are talking to the guy who made his own furniture out of salad bowls right?

  14. #914
    Join Date
    Sep 2004
    Location
    Calgary
    Posts
    10,406
    Rep Power
    35

    Default

    Quote Originally Posted by revelations View Post
    This quote is hidden because you are ignoring this member. Show Quote
    What a change in speculator sentiment - back in ~2010 if this happened, the reaction would have been insane.

    Does tell you a story though - speculators not involved anymore? = OG on the way out.

    Some analysts are predicting that, with the rise of EVs and renewable in the next 10 years, esp in the EU, that OG needs to re-balance its price to 20$bbl - good bye AB oil if true.

    https://investors-corner.bnpparibas-...petroleum-age/
    People were saying that 15 years ago and not much has changed. Maybe eventually, but we are way more than 10 years away from that sort of thing IMHO.

    When I was younger, I thought by 2020 we would be flying around like The Jetsons

  15. #915
    Join Date
    Mar 2010
    Location
    Calgary
    My Ride
    Ioniq 5
    Posts
    1,792
    Rep Power
    46

    Default

    Quote Originally Posted by Mitsu3000gt View Post
    This quote is hidden because you are ignoring this member. Show Quote
    I am absolutely stunned that this multi billion dollar facility had zero anti-drone equipment, or at least none that I have read about so far. Quite the oversight IMO.

    I am reading 2-6 weeks until it's back up, so probably not much of an impact on the forward strips.
    It actually had anti-air middle launchers on site, however the drones (apparently) were too small to target with them

  16. #916
    Join Date
    Sep 2004
    Location
    Calgary
    Posts
    10,406
    Rep Power
    35

    Default

    Quote Originally Posted by pheoxs View Post
    This quote is hidden because you are ignoring this member. Show Quote
    It actually had anti-air middle launchers on site, however the drones (apparently) were too small to target with them
    Yeah I am surprised it didn't have airport-grade anti drone stuff. For that kind of facility and operation, it wouldn't have even been a noticeable cost and would pale in comparison to the cost of their existing AA systems for full size aircraft. I suspect it's on their shopping list now and someone is out of a job haha.

  17. #917
    Join Date
    Sep 2012
    Location
    Calgary, AB
    Posts
    1,636
    Rep Power
    85

    Default

    Quote Originally Posted by revelations View Post
    This quote is hidden because you are ignoring this member. Show Quote
    What a change in speculator sentiment - back in ~2010 if this happened, the reaction would have been insane.

    Does tell you a story though - speculators not involved anymore? = OG on the way out.

    Some analysts are predicting that, with the rise of EVs and renewable in the next 10 years, esp in the EU, that OG needs to re-balance its price to 20$bbl - good bye AB oil if true.

    https://investors-corner.bnpparibas-...petroleum-age/
    USA is a price setter now. And there's lot of spare oil literally floating around.

  18. #918
    Join Date
    Apr 2008
    Location
    calgary
    My Ride
    CLK 55 / 2g Eclipse / EP3
    Posts
    4,422
    Rep Power
    22

    Default

    Quote Originally Posted by Mitsu3000gt View Post
    This quote is hidden because you are ignoring this member. Show Quote
    People were saying that 15 years ago and not much has changed. Maybe eventually, but we are way more than 10 years away from that sort of thing IMHO.

    When I was younger, I thought by 2020 we would be flying around like The Jetsons
    I thought that had more to do with 'peak oil' phenom?

    This is more related to the rise of EV's and the lessening of ICE vehicles. Legislation in the EU (banning ICE) is definitely going that way and could artificially deconstruct the OG paradigm quickly.

  19. #919
    Join Date
    Mar 2010
    Location
    Calgary
    My Ride
    Ioniq 5
    Posts
    1,792
    Rep Power
    46

    Default

    Quote Originally Posted by revelations View Post
    This quote is hidden because you are ignoring this member. Show Quote
    What a change in speculator sentiment - back in ~2010 if this happened, the reaction would have been insane.

    Does tell you a story though - speculators not involved anymore? = OG on the way out.

    Some analysts are predicting that, with the rise of EVs and renewable in the next 10 years, esp in the EU, that OG needs to re-balance its price to 20$bbl - good bye AB oil if true.

    https://investors-corner.bnpparibas-...petroleum-age/
    People always forget the key part of the rise of EVs. Just as oil is a finite resource so is lithium. As of 2018 there is estimated 14 million tons of lithium in the world with over half of that in Chile.

    Right now nearly half of all lithium mined goes to battery production (it’s also used for glass, lubrications, polymers, and medical as well). The typical model S uses 63kg of lithium [2016 figure]

    About 100,000 tons were mined last year, assuming half went to batteries and half of that was just to Tesla (estimating) that’s only 400k cars max they could produce in theory.

    Unless they’ve shifted to a more efficient metal or better battery design there just isn’t the possibility for EVs to take over a majority of vehicles for many many decades to come without huge amount of expansions with lithium mines.

    And the batteries only last a couple decades as well. It’ll be curious to see how we deal with supply issues down the road and used batteries becoming an expensive commodity

  20. #920
    Join Date
    Sep 2012
    Location
    Calgary, AB
    Posts
    1,636
    Rep Power
    85

    Default

    Don't be silly, the manufacturers of lithium batteries will be virtuous and true.

    Also lithium mines will be the most environmentally friendly open pit mines you'll ever see.

Page 46 of 81 FirstFirst ... 36 45 46 47 56 ... LastLast

Similar Threads

  1. 1.8B barrel oil found in Afghanistan

    By Xtrema in forum Society / Law / Current Events / Politics
    Replies: 9
    Latest Threads: 08-17-2010, 09:13 AM
  2. Why we have $150/barrel of oil...

    By Xtrema in forum Society / Law / Current Events / Politics
    Replies: 1
    Latest Threads: 06-20-2008, 03:29 AM
  3. Is $200/barrel oil around the corner?

    By trev0006 in forum Cars, Bikes, Machines
    Replies: 2
    Latest Threads: 03-12-2008, 04:23 PM
  4. Brazil announces new 5-8billion barrel light oil find...

    By Toma in forum Real Estate / Finance
    Replies: 24
    Latest Threads: 11-10-2007, 09:19 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •