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Thread: $30 barrel oil?

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    Default $30 barrel oil?

    Is there any reason we can't get this thread started again?

    Oil rose through Thursday last week based on some claims that overall oil production didn't increase at the rates they had been week-on-week.

    Looks like those claims were wrong!

    http://www.cbc.ca/news/business/wti-...cted-1.3024830

    Analysts had been expecting a bleak number, but not this bad. Inventories increased by almost 11 million barrels last week. A consensus of analysts polled by Bloomberg had been expecting a figure closer to four million barrels.

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    The comments section at the bottom is just full of facepalm after faceplam...

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    US consumer is tapped. Even with sub-prime auto loans and cheap gasoline, they have slowed consumption..
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    Made a couple hundred bucks trading HOD today... If oil dips mid 40s again I may load up on a few midcap Canadian EPC's and check back next year

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    That picture in that article! Is there anywhere in Alberta where they have that many pumpjacks in one geographic area?

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    With oil this cheap and the price at the pumps so high I'm going to start buying my own crude and refining it myself, I'll be retired in no time! Taking requests now for custom octane levels

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    ...
    Last edited by Sugarphreak; 08-13-2019 at 01:21 AM.

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    Originally posted by Swank
    With oil this cheap and the price at the pumps so high I'm going to start buying my own crude and refining it myself, I'll be retired in no time! Taking requests now for custom octane levels
    No need to build from scratch, pick up that mothballed Parkland refinery in Innisfail. Will be much cheaper than building your own. They haven't used that place in years. You should be able to get it cheap. Just think of the massive profits!!!!

    Unless, of course, refining isn't a terribly profitable business.
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    At some point fuel prices seem to have gone in the inverse direction of crude prices.... At current trends, if oil drops to $20, we'll probably be 1.65/l by June.
    Last edited by Maxt; 04-08-2015 at 02:41 PM.
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    they're softening us up so when oil gas back to $80/bbl we'll be paying $4+ at the pump
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    Well, if you believe in althropogenic global warming, you should be in favour of higher fuel prices.
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    Remember to take off 4 cents/L for the tax increase.

    Currently Edmonton gas could be had for 81.9 if you take the 4 cents off. Seems pretty reasonable considering we had to be flirting with $40 to be at 69.9.

    Phreak, I always find it interesting, some people say "omg the general public consumes all teh oil!!!11!" And then others state its industry.

    I'd love to find a chart that split oil barrel useage on a yearly basis between the general public and industry (if such a thing is even possible).

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    Originally posted by ExtraSlow
    Well, if you believe in althropogenic global warming, you should be in favour of higher fuel prices.
    Anthropogenic?
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    Originally posted by Swank
    With oil this cheap and the price at the pumps so high I'm going to start buying my own crude and refining it myself, I'll be retired in no time! Taking requests now for custom octane levels
    Craft beer is super trendy right now. Why not craft artisan oil?

    EDIT: 55 c/liter http://www.montanagasprices.com/
    Last edited by Manhattan; 04-08-2015 at 03:29 PM.

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    Personally I think the entire west coast is in survival mode.

    They are converting many trucks from dry goods to... Water trucks. Plain drinkable (and even some irrigation) water trucks.

    I remember them saying that it was silly to transport oil by truck as it was infinitely more expensive than oil by rail, and that oil by rail was infinitely inferior to oil by pipeline.

    In the 1970's there were a few times where the US had gas rationing. Now, there is mandatory water rationing. They are also coverting seawater to drinkable water at the rate of hundreds of millions of gallons per day.

    So what does that make water?
    Last edited by ZenOps; 04-09-2015 at 05:20 AM.
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    Originally posted by ZenOps
    So what does that make water?
    A commodity.

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    Sounds like the Iran deal is already going to shit. Now that the peons are dont playing the real power to be speaks up

    http://www.haaretz.com/news/middle-east/1.651145

    In his first official remarks about the framework agreement between Iran and Western powers, Supreme Leader Ayatollah Khamenei said on Thursday that nothing is finalized, and therefore the understandings remain non-binding.

    "Iím neither for nor against the outcome of the recent talks. According to the Iranian officials involved no measure has been taken yet and there are no binding results," said Khamenei during a televised speech on Thursday.

    Khamenei added that in light of past experience, he is not optimistic regarding the negotiations with the U.S., but allowed for the talks to take place anyway, stressing that he supports the ongoing negotiation, and would support a future agreement if it upholds Iran's honor and interests.

    Khamenei also said that it's too early to tell if the talks will lead to an agreement, and called for restraint among Iranians on announcing victory or failure in the negotiations.

    "I fully trust our negotiating team, but I'm weary of the other side's attempt at deception. It's all about the details. The deceptive side may want to stab Iran in the back over the details; it is too early to congratulate," continued Khamenei, who also praised Iranian nuclear achievements thus far, and reiterated previous Iranian claims that its nuclear program has peaceful purposes. "I told President Rohani and Foreign Minister Zarif that any agreement must preserve Iran's right to scientific and technological development. They need to find a way for that to happen," Khamenei said.

    According to Khamenei, the United States published a document that was "mostly false" after the latest round of talks. "I gave President Rohani my list of principles and red lines. Beyond that, I don't intend to get involved in details," although he also noted that he instructed the negating teams to make it clear to the Western powers that Iran will not allow IAEA inspectors into military facilities under the pretext of supervision of its nuclear program.

    Earlier on Thursday, Iran President Hassan Rohani warned that Tehran will not sign on to a final nuclear deal with world powers unless it is accompanied by the immediate lifting of all economic sanctions imposed on Iran over the controversial nuclear program.

    The comments by Hassan Rouhani are likely to complicate efforts to reach a final deal by the end of June and could indicate new demands by the Iranian negotiating team.

    "We will not sign any agreement, unless all economic sanctions are totally lifted on the first day of the implementation of the deal," Rouhani said. He spoke during a ceremony marking Iran's nuclear technology day, which celebrates the country's nuclear achievements.

    Iran and the six world powers agreed last week on a framework deal, which is meant to curb Iran's bomb-capable technology while giving Tehran quick access to bank accounts, oil markets and financial assets blocked by international sanctions.

    But the framework deal does not include the immediate lifting of punitive sanctions imposed on Iran. Instead, it says the sanctions will be suspended once international monitors verify that Tehran is abiding by the limitations spelled out in the agreement.

    The deal also specifies that if at any time Iran fails to fulfill its commitments, these sanctions would snap back into place.

    The framework agreement has received major endorsement by the Iranian establishment, though hard-liners have overwhelmingly opposed it and described the deal as a "defeat" for Iran.

    The West long has feared Iran's nuclear program could allow it to build an atomic bomb. Iran denies the charge and says its program is for peaceful purposes like power generation and cancer treatment

    Rouhani described the framework deal in Switzerland as evidence that Iran has "not surrendered to a policy of pressure, sanctions and bullying."

    "This is our victory," said Rouhani.
    If the king doesn't want to abide then there isn't much the president can do

    tl:dr Iranian oil is never making it on the free market
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    Originally posted by Super_Geo
    A commodity.
    Yes. Now, how much do we charge the US for water?
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    Originally posted by themack89


    Anthropogenic?
    Human caused.
    Originally posted by ZenOps
    I say we slow down the spinning of the earth so that there is 25 hours in the day.

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    Originally posted by themack89

    Anthropogenic?
    Originally posted by R154

    Human caused.
    Yes, to differentiate from people who believe that the earth is warming due to a "natural cycle". That's a pretty common belief.
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