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Thread: $30 barrel oil?

  1. #81
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    Last edited by Cos; 12-28-2016 at 02:55 PM.
    Originally posted by adam c

    Line goes up, line goes down, line does squiggly things and fucks Alberta
    "The stone age didn't end because we ran out of stones"

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    So what are the provincial and federal govts forecasting for their future oil prices?
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    Could have been over 60% if I wasn’t a paper hand bitch

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    Last edited by Cos; 12-28-2016 at 02:55 PM.
    Originally posted by adam c

    Line goes up, line goes down, line does squiggly things and fucks Alberta
    "The stone age didn't end because we ran out of stones"

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    Originally posted by nzwasp
    So what are the provincial and federal govts forecasting for their future oil prices?
    Fed election is in Oct. This will be a taboo subject as the Conservatives are buying votes with taxpayer's money.

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    WTI dropped over 3% today to close at $49.19. US crude stockpiles continue to rise, when they were forecast to drop. Refining capacity utilization is at at it's highest levels since 2005, but will probably drop in the coming weeks with the end of summer.

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    Hitting $48 this morning.

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    I am not sure if this has been brought up yet, but Iran's oil exports are ramping up due to the nucular deal reached. Offical sources stated that they had 500,000BBL/day production that they could turn on at a moment's notice, and another 500,000BBL/day production that can be turned on within the next 6 months. These same sources are stating that they have somewhere between 25 and 40 million barrels sitting off shore in ships prepped and ready for export.

    Thats not exactly a drop in the bucket for supply.
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    c'mon $20/bbl, i want to buy some fire-saled lambos from o&g people
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    I'm seeing a bunch more C63s and ISFs coming on the market as of the last few weeks. Coincidence? haha

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    Morgan Stanley is saying that the current oil crash could be worse than the one in 1986.

    http://www.bloomberg.com/news/articl...-than-45-years

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    Originally posted by cjblair
    I'm seeing a bunch more C63s and ISFs coming on the market as of the last few weeks. Coincidence? haha
    Guess it's time to upgrade my accord to a beyond-approved AccordMG

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    Originally posted by sputnik
    Morgan Stanley is saying that the current oil crash could be worse than the one in 1986.

    http://www.bloomberg.com/news/articl...-than-45-years
    http://www.marketwatch.com/story/chi...ars-2015-02-11

    There will be no recovery this time around. It all about market share and dumping your products until China becomes self sufficient like the US.

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    This oil nightmare shall be all blamed to OPEC! Someone has to do something to these d!cks!
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    Originally posted by jwslam

    Guess it's time to upgrade my accord to a beyond-approved AccordMG
    That's my plan. Assuming I still have a job by the time I have the money saved in a few months. haha

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    Last edited by Cos; 12-28-2016 at 02:53 PM.
    Originally posted by adam c

    Line goes up, line goes down, line does squiggly things and fucks Alberta
    "The stone age didn't end because we ran out of stones"

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    Originally posted by Cos


    I know I am pretty dumb on O&G related stuff but how does Shale Gas wells have such a negative impact on Oil? The article doesn't really go into it.
    It all started with fracking for gas in North America until the NG market went into the dump and never recovered. Then oil fracking started to take off.

    Someone with even worse environmental record than US like China can definitely ramp up production quickly if they know where to frack.

    Originally posted by oz388
    This oil nightmare shall be all blamed to OPEC! Someone has to do something to these d!cks!
    Well Chinese growth has stalled. NA is using 4% less gasoline every year. EV starts to make sense. OPEC now own lest than 1/3 market share on daily outputs. There is nothing OPEC can do. If they stop producing, US and Russia will just take more market share and keep price low.
    Last edited by Xtrema; 07-24-2015 at 08:35 AM.

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    Last edited by Cos; 12-28-2016 at 02:53 PM.
    Originally posted by adam c

    Line goes up, line goes down, line does squiggly things and fucks Alberta
    "The stone age didn't end because we ran out of stones"

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    Originally posted by Xtrema


    Well Chinese growth has stalled. NA is using 4% less gasoline every year. EV starts to make sense. OPEC now own lest than 1/3 market share on daily outputs. There is nothing OPEC can do. If they stop producing, US and Russia will just take more market share and keep price low.
    If OPEC stop producing oil will skyrocket to $300+ and Canada will become to one of the richest country in the world.
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    Canada is already fairly rich. The US is getting poorer pretty quickly (if just by number of people on foodstamps)

    I mean really the US has to buy oil and then pump it into the ground in order to feel semi-secure about not running out of it (Strategic Petroleum Reserve) If the US had excess real goods of things like oil or water, they wouldn't be spending money buying it, transporting it, and then repumping it into the ground on their own soil.

    We also have the one nickel mine in North america, even though we can't afford to put in in our loonies anymore.

    Besides, its only being sold for US dollars... Its not like you can buy a Greek island with it.
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    Originally posted by oz388
    This oil nightmare shall be all blamed to OPEC! Someone has to do something to these d!cks!
    100%

    Its not even OPEC as it is specifically "saudi"

    they even themselves are experiencing the downturn, but are refusing to allow their market share to shrink.

    This country or "state" is refusing to reduce their capital spending and expenses, and as such they needed to borrow 4B...

    this is ridiculous... if it wasn't because of the incestreous relationship between Saudi and the US, belive me... things would be quite different.

    My friend from Aramco tells me that the US really uses a "barter" type system that significantly discounts even from current Brent prices... using essentially an Oil Based dollar commodity.
    as a quid pro quo.. the US provides protection for this country

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