$6.66/$4.44 barrel oil?

[ZenOps]

After a solid 45 years of dropping in price, solar panels are probably going to be more expensive next year.

It does take a decent amount of energy to melt the sand, and an especially high amount of energy to make an aluminum frame.

[ExtraSlow]

For those who like talking world oil supply macro topics like Saudi supply . . . .
https://oilprice.com/Energy/Energy-G...il-Claims.html

[ZenOps]

Local propane is definitely getting up there. Can't imagine that natgas in Alberta can get all that expensive. Gasoline? Always unpredictable because its almost solely based on demand, and if demand gets too high people panic.

Still waiting for someone else to make the $150 oil thread. Do I have to do everything?

[ExtraSlow]

I used to harp on decline rates, and I was pretty vocal about how low things would go after the early covid-related shutdowns, but USA production never dipped below 10 million barrels a day aside from a couple short weather related things. I was predicting under 9 million without other outside influences.

Charts like this speak to me, but I've been proven wrong repeatedly about how hard the USA will drill to keep production up.
Anyway, the famous "sharkfin" graph that all us decline alarmists like to point to. (note this is selected basins, not entire USA, because of data availability).

[nzwasp]

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For those who like talking world oil supply macro topics like Saudi supply . . . .
https://oilprice.com/Energy/Energy-G...il-Claims.html

Interesting Article if Saudi only has 60B Barrels left.

So by 2050 or so Saudi should be out of oil?

I wonder though, of Alberta's Proven reserves (EST 170B) how much has been pumped since 1973?

[ExtraSlow]

Saudi history is really fascinating.

[Tik-Tok]

"My grandfather rode a camel, my father rode a camel, I drive a Mercedes, my son drives a Land Rover, his son will drive a Land Rover, but his son will ride a camel"

Not really, but at some point down the line.

[suntan]

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Saudi history is really fascinating.

My favourite part: Why it's called Saudi Arabia.

[zechs]

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.

So by 2050 or so Saudi should be out of oil?

Brilliant if they build up a sovereign wealth fund to go with it.

Wish we would exhaust our fossil fuel resources by then. Or maybe the oilsands plants will just keep chugging along at $1000/ton carbon tax because nobody else will produce oil and oil will be $250/barrel. A dying industry with no growth potential but still lucrative for those in it.

[ZenOps]

Bank of America says $120 by June.

https://financialpost.com/commoditie...june-bofa-says

[ExtraSlow]

USA to release oil from SPR in a wild attempt to keep prices down without any new American jobs. It's not going to work in any meaningful lasting way. OPEC is giggling, shale producers are banking cash and paying down debt, consumers are getting screwed.

[killramos]

Consumers are the one who voted for higher gas prices.

Fuck ‘em

[ExtraSlow]

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Consumers are the one who voted for higher gas prices.

Fuck ‘em

Yessir. High prices are actually precisely the only thing that can achieve the apparently vital climate goals of burning less hydrocarbon. Because consumer behavior is the thing that will dictate production.

Oil at $100/bbl or higher would be excellent for solar and wind projects.

[dirtsniffer]

Cancels kxl and complains about supply the next day

[killramos]

Biden is exactly what Americans deserve

[16hypen3sp]

Ouch

[ExtraSlow]

Relax, just noise. Supply and demand fundamentals are fine.

[16hypen3sp]

Media is really selling the panic on that “new” SA variant. “New” as in, probably been around for a while now.

[ExtraSlow]

If anyone is holing onto cash, black friday sale on oil stocks I guess.

[killramos]

If Covid has taught me anything it’s that way too many people travel to and from South Africa.