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Article: Oil 'will hit $100 by winter'

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quote:

"You smart man there GL! Supply and Demand set oil prices, and the world economy cannot sustain $100 per barrel."

Alot of people seem to forget or ignore this point. Do you really think that everybody's economy around the world wouldn't be affected by $100 per barrel oil? I don't care if you are double-digit growth China, the US, or whomever. If oil hits $100 per barrel (or more), demand will start to fall through the floor, and most of us know what will happen to prices at that point.

Seems that alot of the $100 or more per barrel crowd have something to gain by it. Not saying that there isn't going to be a problem at some point. We definately need to stop working on "band-aides" to the current oil "problem" and develop real fixes via new sources.


P.S. jetflyer: Enough of the frickin oil and gas threads already! Between you and Atpcliff, there is a new thread started every week about it. Use the same thread you paranoid heart-attack-waiting-to-happen. I don't see how you sleep a wink at night.
 
lowecur said:
The only way it goes to $100 per barrel is a major interruption due to sabotage or war.

Lowecur,

What about a major interruption, like NATURAL RESOURCE DEPLETION??


Read about the SEVERE OIL PROBLEM that will strike soon from this transcript below with visual-aids included from a speech by REPUBLICAN Maryland Congressman ROSCOE BARTLETT to the HOUSE on MAY 3, 2005 on PEAK OIL:
http://www.energybulletin.net/5948.html


Roscoe Bartlett actually just had a meeting with President Bush THIS LAST WEEK about this PEAK OIL PROBLEM as well. This press release is posted on the Congressman's website: http://www.bartlett.house.gov/latestnews.asp?ARTICLE2900=7308



Lowecur,
Peak Oil would cause a MAJOR INTERRUPTION even more than sabotage or war.
I personally think we're still about 2-5 years from GLOBAL PEAK OIL.
U.S. peak oil by fact was 1970. The U.S. peaked at about 10 million barrels/day in 1970 and now even with the Alaska North Shore oil and Gulf of Mexico drilling the U.S. only pumps about 5 million barrels/day and it declines yearly. www.yubanet.com/cgi-bin/artman/exec/view.cgi/8/15426

This decline will happen to world oil someday. Maybe it's 10-20 years away. I don't think so, but even then "HOUSTON, WE HAVE A PROBLEM".

Airlines need to hedge their fuel at the CHEAP $60/barrel now while they can. I'm with Comair and worried about this. Can Delta not get hedges?? Can they just not get the financing?? If they sell Comair and ASA, I think they should dump ALL the money on fuel hedges. Then while other airlines are paying $80+ atleast Delta will be buying at $57-60. Then with the fuel surcharges added to ticket prices, maybe they can make money.

There is a DELTA PILOT member of www.PEAKOIL.COM that started a thread recently there saying that he sat through a recent public meeting of Delta Management. He said they were confused by this "FUEL THING". He said they seemed clueless to the OIL PROBLEM facing the world. The Delta pilot said he was shocked even the leaders of the #2 airline in the world were IGNORANT to PEAK OIL.


Jet
 
jetflyer,

You're probably like all of these analysts betting on huge price increases... We get the point already. You subscribe to this theory. MOVE ON ...
 
jetflyer said:
Lowecur,

What about a major interruption, like NATURAL RESOURCE DEPLETION??


Read about the SEVERE OIL PROBLEM that will strike soon from this transcript below with visual-aids included from a speech by REPUBLICAN Maryland Congressman ROSCOE BARTLETT to the HOUSE on MAY 3, 2005 on PEAK OIL:
http://www.energybulletin.net/5948.html


Roscoe Bartlett actually just had a meeting with President Bush THIS LAST WEEK about this PEAK OIL PROBLEM as well. This press release is posted on the Congressman's website: http://www.bartlett.house.gov/latestnews.asp?ARTICLE2900=7308



Lowecur,
Peak Oil would cause a MAJOR INTERRUPTION even more than sabotage or war.
I personally think we're still about 2-5 years from GLOBAL PEAK OIL.
U.S. peak oil by fact was 1970. The U.S. peaked at about 10 million barrels/day in 1970 and now even with the Alaska North Shore oil and Gulf of Mexico drilling the U.S. only pumps about 5 million barrels/day and it declines yearly. www.yubanet.com/cgi-bin/artman/exec/view.cgi/8/15426

This decline will happen to world oil someday. Maybe it's 10-20 years away. I don't think so, but even then "HOUSTON, WE HAVE A PROBLEM".

Airlines need to hedge their fuel at the CHEAP $60/barrel now while they can. I'm with Comair and worried about this. Can Delta not get hedges?? Can they just not get the financing?? If they sell Comair and ASA, I think they should dump ALL the money on fuel hedges. Then while other airlines are paying $80+ atleast Delta will be buying at $57-60. Then with the fuel surcharges added to ticket prices, maybe they can make money.

There is a DELTA PILOT member of www.PEAKOIL.COM that started a thread recently there saying that he sat through a recent public meeting of Delta Management. He said they were confused by this "FUEL THING". He said they seemed clueless to the OIL PROBLEM facing the world. The Delta pilot said he was shocked even the leaders of the #2 airline in the world were IGNORANT to PEAK OIL.


Jet

so if this Whole thing comes to pass..what good is 60/barrel fuel hedging gonna do anybody...Buy em a year or two, then what..Charge 2000.00 for a PHL-LGA flight? So is that what the market will bear?..or is it bare?
 

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