Future Price of Oil ??

[jetflyer]

I wish the attempted coup of Hugo Chavez two years ago would have worked!!!

Jet

 

[jetflyer]

Wow,
I didn't know the Saudi Arabian attempted bombing wasn't a refinery it was the ABQAIQ GOSP (gas and oil separation plant).

This facility handles more oil than any other facility in the world. If they would have succeeded in taking off 2-3 million barrels of oil/day we'd be seeing 100.00/barrel.

Luckily the Saudi's have serious security for the Abqaiq facility.

Jet

 

[FN FAL]

I wish the attempted coup of Hugo Chavez two years ago would have worked!!!

Jet

Maybe they can send the goshjet whiners.

 

[jetflyer]

Here's more info on the attempted bombing of the Abqaiq GOSP:
From the BBC:
http://news.bbc.co.uk/2/hi/middle_east/4747488.stm

A few interesting quotes from the article:

Saudi security forces have foiled an apparent suicide car bomb attack on a major oil production facility in the eastern town of Abqaiq.

Guards opened fire on at least two cars carrying explosives as they tried to ram the gates, Saudi officials said.

Saudi Oil Minister Ali al-Nuaimi said output at the facility, which handles about two-thirds of the country's oil production, was unaffected by the attack.

Oil security analysts have estimated that a serious attack on the facility could halve Saudi exports for up to a year.

This facility processes 2/3 of Saudi Arabia's oil and security analysts say a serious attack would halve Saudi's exports.

Half their oil offline would be about 4.5 million barrels lost from the world's 85 million barrels PER DAY. So this would be about 5% of the world's oil.

We're using 1000 barrels of oil a second right now in the world. 950 barrels a second would hurt!

Remember that "OIL SUPERSPIKE ARTICLE?"

Jet

p.s. a book I recommend about future problems with energy:
A Thousand Barrels a Second : The Coming Oil Break Point and the Challenges Facing an Energy Dependent World (Hardcover)
by Peter Tertzakian

 

[Swerpipe]

Energy Alternatives other than wind,nuclear,solar,oil?

There are companies that are working on an alternative to oil energy other than wind, nuclear or hydro motive. This source of energy is controversial and under the scope of the media and most mainstream science. Various patents have been awarded regarding extracion of energy from the vacuum. An example can be found here...

www.magneticpowerinc.com

If generators become available in the next few years that can extract energy from the vacuum, the oil price will plummet. Just the knowledge of this energy coming on line will cause the price to drop in spite of demmand. This energy is usually refered to as zero point energy and it's most likely to shape our world in this century. To make really long term predictions without including hte effect of this technology is foolish. Now, don't expect to pick up the New York Times to read about this.
Most advances in history have been made outside mainstream science (Wright brothers, Tesla, Maxwell, Einstein...) I think this is a big one coming and quietly. Pres. Bush said a few days ago that the US was on the verge of an energy technology breakthough that would startle most Americans. Maybe he is just talking about better batteries and solar panels or may be he has been reading what I've been reading. An attack on oil? Time will tell...
I just don't think that the technology for this century will be a repeat of the technology for the last century.

 

[jetflyer]

Swerpipe,

I've actually spoken with the CEO of magnetic power, Mark Goldes. He talked to me because he's looking for investors badly. He's very optimistic but they haven't produced yet, and he blames it on lack of investors.

They were supposed to have a zero point energy demonstration device at the end of last year. They still don't have it out. I was very dissapointed because the technology looks promising.

I hope they can get it to work.

Jet

 

[jetflyer]

A good source for information on the energy Swerpipe mentioned (Zero Point energy) can be found here:
http://www.freeenergynews.com/Directory/ZPE/index.html
and
www.zpenergy.com

If you see posts at www.zpenergy.com by Overtone, he is the CEO of the company Swerpipe mentioned.

I hope this energy gets developed badly!!!

Jet

 

[Swerpipe]

It's a pattern

I have heard that. What I think is promising about magnetic power inc is that they also have the ultra conductors which have been independently verified and they could subsidize some of the magnetic generator research. It's a matter of time.
This would be a major shock to the system just in lost tax revenue from oil taxation. How do you tax free energy? How much cash would the government lose?
Magnetic power inc is not the only company in the US or abroad working on this. We shall see...

BTW in the remote chance that this happens just remember to put down a few bucks remember the dot com revolution?

 

[jetflyer]

Swerpipe,
You're right. Putting money in this will be very smart. Energy is a several trillion dollar/year industry.

If anyone wants to invest with Mr. Goldes send me a private message and I'll tell him how to contact you.

I really recommend you research ZPE extensively first though.

You have to have a $1,000,000 net worth (why I couldn't invest!) and the minimum investment is $10,000.00

This technology needs investing in badly.

Jet

 

[pgcfii2002]

I agree, when you adjust for inflation, gas prices are lower, even when compared to the early 1980's.

 

[atpcliff]

Hi!

We went to war with Iraq for two main reasons, and both of the start with oil.

Obviously, we need oil, because Ford, Reagan, Bush Sr., Clinton, and Bush Jr. have screwed us out of the energy leadership we needed. Iraq has a lot of oil.

The second reason is the one being discussed here. Hussein was going to switch to trading oil via the Euro, which, if successfully adopted by many countries, would be very bad news for the US economy, as many of the articles mentioned above will explain.

I'd like a plug-in hybrid that is powered by the electrical battery and a natural gas powered ICE.

Cliff
GRB

 

[Old School 737]

oil

If the question was how much for the the future price of oil then I would say 75+. Do I have any hard numbers like some of you guys, no. But it was around that last year and I'm sure that it will hit that and then some this summer when it always goes up due to " demand" issues. So what does it mean for airlines? I hope all management (all airlines) figure out that its time to raise prices or at least tack on fuel charges like the freighters do. But its management so I am not holding my breath.

 

[WMUSIGPI]

Swerpipe,
You're right. Putting money in this will be very smart. Energy is a several trillion dollar/year industry.

If anyone wants to invest with Mr. Goldes send me a private message and I'll tell him how to contact you.

I really recommend you research ZPE extensively first though.

You have to have a $1,000,000 net worth (why I couldn't invest!) and the minimum investment is $10,000.00

This technology needs investing in badly.

Jet

You do realize this is a pilot forum.... Try the engineers' or ceos' up the block.

 

[Tex]

http://energybulletin.net/13192.html

Here is the devil's advocate to the past links.

 

[Tex]

http://energybulletin.net/13192.html

http://energybulletin.net/13192.html

 

[jetflyer]

Tex,

Great find. That was the first time I'd read anything that said that the Iranian Oil bourse would be no big deal, that almost noone would go to it to trade oil, and that the dollar will always rule oil transactions.

Makes me wonder. Is he right? He may be....

I think what really matters is what the perceptions of those in power are. If they think the oil bourse is a threat they're going to try to prevent it. If they think it's no big deal or that there's nothing that can be done to stop it, we'll get to see if the author of this article is correct.

If anyone goes to stop the Iranian Oil bourse I think it will be Israel, because I don't see the U.S. doing it. We've got our hands way too full in Iraq.

March 20th will be the day to watch. If it comes and the bourse begins, we'll get to see what happens. If Israel is bombing Iran in mid to early March, we'll get to see what happens.

Either way, I'll post any articles on here that are relevant current events on the Iranian Oil bourse.

Jet

 

[SkiFishFly]

Tex,

Great find. That was the first time I'd read anything that said that the Iranian Oil bourse would be no big deal, that almost noone would go to it to trade oil, and that the dollar will always rule oil transactions.

Makes me wonder. Is he right? He may be....


Jet

Jet,
Guess you just completely missed the points in my earlier post.

Life must be hell when you are sooo paranoid.

ATPCliff,
I guess the war in Iraq had nothing to do with violations of cease fire agreements and UN resolutions not to mention almost daily attempts to shoot down US pilots enforcing some of those UN resolutions.

 

[jetflyer]

SkiFish,

I understood your points and I tried to answer them earlier on who would have an advantage trading in the euro. I think even the couple countries that you mentioned switching away from the dollar has the possibility of having a bad effect on the dollar. I thought you had a great question.

The bottom line is we don't know. If the exchange really takes off and just a couple of our "enemies" sell oil or buy oil buy in euros, it has the possibility of really being bad.

Even in that devil's advocate article, they "don't know what will definitely happen". They think they're right, but others think they're right when they say it could cause a dollar meltdown.

I think there are enough countries that don't like us like Venezuela, China, maybe even Russia, Libya, and many others that may try to trade in the euro.

We'll have to wait and see.

I personally think the threat is great enough to the dollar that there is probably a great effort now to stop it and there may be a greater effort in the near future.

Jet

 

[Dizel8]

While Iran could start their oil bourse and trade in Euro, it isn't quite so cut and paste easy. The US economy, whether the world likes it or not, is really at present what drives the world economy. So many countries are very deeply dependent upon trade with the US, recession is the US is bad for all of them.

The US is by far the largest importer of oil, Chavez may not like us, but he needs us to buy his oil.

In the case of Iran, it isn't just the US that is a bit peeved about their "peaceful" nuclear research, most of Europe is not too keen on the idea of a Iranian nuke either.

 

[jetflyer]

Good points.

So maybe the Iranian Oil bourse will be a dud, and the U.S. will through diplomacy discourage others to trade in the euro, rather than militarily.

What a great concept, using diplomacy...

Time will tell....

Jet