Crude Oil hits $81 a barrel.

[Wiggums]

I'll stick with the old mantra: Opinions are like a$$holes, everyone has them and they all stink.

I think you and pilotyip need to get together. You can each have your little sayings that make no argument and mean nothing. Meanwhile you can stick your fingers in your ears and go LA-LA-LA-LA-LA.

 

[BoilerUP]

Hmm, like the history of peak oil? It was accurately predicted for the United States, and it was also accurately predicted for the North Sea. Predictions for the current peaking in Mexico and Saudi Arabia are starting to come true. So why are we not taking these predictions of the total worldwide supply seriously?

Really? We're at peak oil?

 

[jetflyer]

Sounds like you're speculating too.

No speculating here.

Global SUPPLY for 4th quarter according to the IEA is supposed to be 85 million barrels a day.

Global DEMAND is supposed to be 88 mbd unless the world falls into recession.

According to Goldman Sachs this 4th quarter global inventories will be drained by 6.5% or 150 million barrels(NOT the Strategic Petroleum Reserve).

The world has NEVER pumped more than 86.1 million barrels a day. That was last August 2006.

The world is now pumping 1 million barrels a day less than last year.

There is a reason for these high oil prices.

According to Goldman Sachs and the International Energy Agency that has been begging OPEC to pump more it is because of Supply/Demand.

OPEC is tapped out and can't provide much more.

Supply/Demand is a bitch. When there's not enough of a scarce item that people want, the price goes up and those that can afford the item at the higher price get it. Funny how that works.

Oh and Boilerup, we're most likely at peak oil for the world now.

Sorry bud. Deal with reality or reality will deal with you,
Jet

 

[wmudriver]

Friggin A...lighten up, Edna. I really don't care. I just agreed with what someone else said. There are other things in the world to raise my blood pressure rather than an internet bickerfest about oil. I have the Cubs getting to the post-season to worry about. Good day.

 

[jetflyer]

I'm relaxed.

You were agreeing with a point I found wrong.

I was trying to show you why you were wrong.

This is called civilized debate.

Go watch your Cubs game. Sorry to have stressed you out,

Jet

 

[Wiggums]

Really? We're at peak oil?

Production has been level for three yeas now. So we could very well be at the peak.

http://www.theoildrum.com/node/2693#more