Barrons calling $150/barrel oil in Spring 2011

[pilotyip]

Which Thursday?

don't know, but my guess is within three days before or after.

 

[C-150ETOPS]

Get real, all this talk about the USA getting dumped on by loss of currency trading, debt ect is some pencil neck, chicken little, insecurity bedwetting fearfest.

All politics is local and international relations function just like those a neighborhood level.

Where am I going with this? Depsite the world's wetdream of sending the USA into the used condom of history, it's not happening for along time. Some may dream of subjecating the US like Mexico, Argentina or Greece in the world of finance, but at then end of the day, the real people in charge of the money know better than to drive a country and it's citizens to the level of a "sheethouse" rat when those same people possess 12 aircraft carriers spread throughout the world, X-number of ICBMS at standby, hundreds of assets that can picture a target picking their nose right before vaporization on command from Nevada, 18 thousand miles away, as well as a select few of trained soldiers around the world willing to eliminate any threat to the Union as ordered.

It's like being owed $1000 by the 6'5" inch, bad tempered martial arts expert in a small town. Go ahead and collect after you piss him off.

 

[atpcliff]

The long-term rise in oil prices we are seeing is because of peak oil. In 2008 we pumped more oil out of the ground than in any year, including 2009 and 2010.

Many people, mostly conservatives, in my opinion, do not believe in Peak Oil. However, it doesn't matter if you believe in it or not, it is real.

Proof? Saudi Arabia is planning on producing as much energy from solar electricity, as they currently produce from oil. That is, they are building up their infrastructure to produce as much electricity as is currently produced in all of Europe, or 1/4 of the world's total production.

Why is Saudi building up their solar electricty production to this extreme amount? Because they want to continue to make money, and they know that their oil money is ending, because their oil is running out. They want to continue to make money, and they have decided that using their massive solar energy potential is the best way to keep the money flowing into Saudi Arabia.

cliff
ANC

 

[pilotyip]

We are far from the "peak oil" concept of a rapid drop in production, supply demand forces will reduce demand as prices rise as supplies are reduced. The change to alternate sources of energy will only be driven by high priced oil, no one is going to develop shale oil at $150/brl when you can buy OPEC oil at $120/brl. And no one is going to invest in these other sources of energy when they know there is no energy policy to protect their investment. Exxon spent over $1B in the mid 70's setting up a shale oil operation, but they could not sell any of it because it was so high priced. So unless congress sets a tariff on imported oil, we are slaves to OPEC who can drop the price anytime they want and destroy the alternate energy solutions.

But no politician has the guts to step and raise the price of gas; he would be booted out of office in the next election. Americas have a sense of entitlement on gas prices and anyone who tried to fix that is in trouble.

The only way to separate us from those suppliers is to raise the price of the product. Then less of it will be consumed, alternate energy sources will become more available because there will now be a market for them that someone can make money with without a subsidy from the gov't. I hope it goes to $5 or $6 a gallon, here are just too many good things that happen when we have expensive fuel.

As I have said before the only thing that will wean us from cheap gas, is expensive gas.

 

[xrated]

So unless congress sets a tariff on imported oil, we are slaves to OPEC who can drop the price anytime they want and destroy the alternate energy solutions.

OPEC does NOT control the price of oil. We are slaves to the market and those who manipulate it...I.E. banks and speculators.

 

[Stifler's Mom]

$96/barrel currently + Large Media Source reporting $150/barrel in the future = Possible Speculator Feeding Frenzy.

Hopefully this is nothing more than Barron's trying to strum up readership by printing a fearful sounding article.

 

[freightdogfred]

OPEC does NOT control the price of oil. We are slaves to the market and those who manipulate it...I.E. banks and speculators.

We are slaves to the market because as the junkie is hooked to the needle, the consumer is hooked to cheap oil. Banks and speculators merely exploit the consumer's demand and profit by it. Tariffs on foreign oil will only exacerbate the problem. (This is how the Texas oilman G.W. Bush rose to power, on this very platform.) It didn't work then, and it won't work now, it merely prolongs cheap oil for the oil junkie. Taxing ALL oil will eventually cut demand, and use the tax revenue for R&D on other energy sources. John Anderson, who ran for prez in 1980 against Reagan and Carter proposed exactly that and was soundly defeated. Imagine how much better this country would be now had his energy policies been adapted. The day of reckoning is coming, make no mistake.


http://www.4president.org/brochures/andersonlucey1980brochure.htm

 

[pilotyip]

OPEC does NOT control the price of oil. We are slaves to the market and those who manipulate it...I.E. banks and speculators.

True, but they affect the actions of those who speculate by controlling production.

We are slaves to the market because as the junkie is hooked to the needle, the consumer is hooked to cheap oil. Banks and speculators merely exploit the consumer's demand and profit by it. Tariffs on foreign oil will only exacerbate the problem. (This is how the Texas oilman G.W. Bush rose to power, on this very platform.) It didn't work then, and it won't work now, it merely prolongs cheap oil for the oil junkie. Taxing ALL oil will eventually cut demand, and use the tax revenue for R&D on other energy sources. John Anderson, who ran for prez in 1980 against Reagan and Carter proposed exactly that and was soundly defeated. Imagine how much better this country would be now had his energy policies been adapted. The day of reckoning is coming, make no mistake.


[URL="http://www.4president.org/brochures/andersonlucey1980brochure.htm"]http://www.4president.org/brochures/andersonlucey1980brochure.htm[/URL]

goes back to no ploitican can get elected by saying he will raise the price of oil.