Oil price happening!

Holy shit the price of oil is crashing again and this time there is no saving.
The investors, their smile and optimism gone

oil-price.net/

What does Sup Forums think will happen?

Other urls found in this thread:

peoplepower.org/
bloomberg.com/news/articles/2015-10-27/u-s-plans-to-sell-down-strategic-oil-reserve-to-raise-cash
money.cnn.com/2016/04/26/investing/oil-companies-lost-67-billion-dollars/
bloomberg.com/news/articles/2016-08-09/for-oil-companies-110-billion-debt-wall-looms-over-next-5-years
en.wikipedia.org/wiki/Peak_oil
news.bbc.co.uk/2/hi/business/3777413.stm
en.wikipedia.org/wiki/California_electricity_crisis
youtu.be/tSUvUUMTshw?t=106
twitter.com/NSFWRedditImage

Bump for interest

people buy oil in the 40s

Gods damn right it's interesting.

This is disaster for Saudi Arabia.
They will be broke withing 4 or 5 years if they don't stop living like they are all royalty.

My guess is this relates to the sanctions being lifted on Russia wherein OPEC was artificially coerced through our relationship to crash their economy with no surviors by jacking up oil prices.

They couldn't sustain it for long even without a Trump admin, part of probably why Clinton and Dems at large are going hot with Russia war narrative.

Many states keep slapping gas taxes because it's so cheap. Gonna bite in the ass when it comes back up.

my state gets rekt by low oil prices

Wasn't there an oil price happening in Sept of '14? Crisis was averted, but goddamn I was gassing up my AR anyways.

The world is just that much more unhinged today, and this might be it - eventual economic collapse, maybe WW3 if our nation as we know it doesn't dissolve

Time 2 buy in

>total civil collapse

we can only pray.

Bannon is right. We need to hit reset

This is actually a really good buy opportunity. $75 a barrel is coming again in the not so distant future, probably higher.

t. analyst

I would like to see if we can maybe take over Saudi Arabia for the sake of ensuring peace for when the inevitable cannibalism sets in. We can then take control of mecca and use that to dick around with Iran and ISIS.

nope
there was a higher production of oil than expected
higher supply = lower price per barrel

>analyst currently losing his money

We won't see $75 year-end average for at least 10 years. I would expect mid-60s by 2020 though. Conventional wells are nearing the end of their life at these prices, and fracked wells won't be able to make up the difference.

>t. reservoir engineer

This. It's just a correction based on current supply and inventory levels being higher than expected. Nothing to panic over.

This is gonna fuck over my states economy again. :(

All the local politicians are complete cucks to big oil

Yes pure coincidence

Wow it's fucking nothing

Futures are already targeting annual summer peaks, and a large supply of oil was just found in Alaska

we will likely never see a 75$ barrel again, at least not at this rate of pumping.

btw, as of February every second car sold in Norway was either electric or hybrid.

peak oil people

it's incredible you're crazy enough to believe in reptile aliens but still deny peak oil, wich has been happening since 2014

Where do you work? That estimate is so far beyond any of the big banks estimates.

We'll reach $75 again, oil is always cyclical. I wouldn't worry about Norway, either. They have less than .1% of the world's population.

Besides, if electric cars take off that energy's going to have to come from somewhere. Natural gas will be the prime choice, and after that oil electrical plants will probably make a comeback.

and here's the liberal kind of genius who never sees a crisis coming

>j-j-just an offer-demand issue goys, it coudn't be any other thing, could it?
>free market is perfect, it'll adjust itself goys, don't worry until it's over

debt cieling on march 5.

Leftist army assembles on March 11.
>peoplepower.org/

>Its peak oil
>the supply of oil has peaked
>thats why the price is dropping
ok retard

Peak oil is a myth. Every time someone claims we've hit peak oil, we figure out new ways of extracting previously inaccessible deposits, or economic methods of extracting from existing and existing "depleted" deposits. The reason oil production will eventually decline (but not disappear completely) will be because we've moved on to other sources of energy.

low 40s -> high 40s -> mid 30s -> mid 50s

nothing because Trump is obliging Saudi with arms trade

look, if i have 20 barrels of oil a day and i charge you 5 dollars a barrel, then suddenly i can only get 5 barrels of oil a day, what do you think is going to happen to the price of my oil?

>check the one year record
>check the five year record
wow it's fucking nothing

K-keep me posted

Isn't peak oil referring to peak consumption?

no its referring to peak production

The traditional 1956 Hubbert "Peak Oil' refers to peak extraction, but "peak demand" is thrown around a bit now as a different thing

prolly cause they found that massive reserve of oil in alaska the other day, prolly today

just google it
>peak oil
>the hypothetical point in time when the global production of oil reaches its maximum rate, after which production will gradually decline.

RIP Alberta.

>Peak oil is a myth.
It's an observed fact for a single oil field. The rest is an extrapolation.

its still higher than it was in november.. also, its slowly going up again.

Good. I need the Canadian dollar to be high before I bail out of Canada.

holy fuck another retard, go to there's more than just offer-demand in a market, study actual economics instead of repeat your mantra.
If this were an offer-demand issue, it woudn't be a problem to have low prices in the first time

sigh, again that offer-demand logic to argue with reallity

Look, if i have 100 billion debt so i need to sell oil NOW, what do you think is going to happen with the price?


Do you realize you're defending oil is infinite?
pic related

those new ways are more expensive every time, raising costs, raising debts

bloomberg.com/news/articles/2015-10-27/u-s-plans-to-sell-down-strategic-oil-reserve-to-raise-cash

money.cnn.com/2016/04/26/investing/oil-companies-lost-67-billion-dollars/

bloomberg.com/news/articles/2016-08-09/for-oil-companies-110-billion-debt-wall-looms-over-next-5-years

I hope at least one oligarch lost enough money to end their life.
There's something i'd pay to see, fund that one capitalists

Aubrey McClendon

>Look, if i have 100 billion debt so i need to sell oil NOW, what do you think is going to happen with the price?
what the fuck would that have to do with peak oil, spain is fucking retarded

where do you think that debt comes from you idiot? From the need to extratc the expensive wells. It is too expensive already and oil industry is not profitable anymore

We find new fields all the time. What happens to a single field isn't entirely representative of the industry as a whole.

>Do you realize you're defending oil is infinite?
In a practical sense, it is. We will continue to innovate and discover new methods and sources of production precisely because there is demand, even if it means the entire planet shifts entirely to synthetic production.

As for that graph, it's clearly labled "conventional oil." Pic related is what's happening elsewhere in the industry.

This happend to them before.
They gained great wealth with pearls from the sea. They 100% based their economy on the pearls and crashed years later. This totally destroyed them. After they discovered oil they diversified their assets and own a LOT of any major stock etc. They wont have as many problems as you thing. Their people dont pay tax at the moment and the government hands out everything.

Heard in the news today that they have discovers an oil field in Alaska with 4.000.000.000 barrel of oil. The second big finding within a year.

Russia is fucked as well as Venezuela.

same

good point

march 15th is a new debt ceiling and possibly a collapse let me explain, as a jew not really a jew but a jew. But i dont know when it was created but the brics union has been against the united states for years everyone is done with our corruption and shitty deals. We destroy countries because of our shitty rich old fucks that just bomb shit and command it, but during these past 5 years a new world bank was established the usa is not on the list, and china is the leader china has the worlds biggest gold ownership tons and tons and thousands of tons thanks too canada which back stabbed us aswel, everyone wants the wars and shit to end. Not sure whats gonna happen with china world leader ship possibly a new good era or bad communism

forgot the pic

My point is in oil production costs, new sources are more expensive than conventional oil. is not enought with being able to produce oil, you have to make it (relatively) cheap

>Their people dont pay tax at the moment and >the government hands out everything

So what will happen when the Gibs Me Dats ends?
Saudi is a fucking dictatorship the people won't stand for that if they are not showered with money

>not a record low
Not at all but is the end of a 4 month period where investors where closing their eyes to reality after OPEC announced production stay.

For some reason investors made them self believe USA and Canada wouldn't up their production

I'm predicting we will go back to a price around 30ยค for some time to come

When I was in high school (more than 10 years ago) they were teaching that the world only had 40 more years of oil supply left (meaning today would be less than 30 if that figure was accurate).

Now I've heard there is at least 100 years left.

They are always finding new oil fields, deposits, and new methods of extraction which is boosting our timeline. Hopefully there will be some kind of alternative before oil gets too expensive to be practical, which will be a long time from now.

The world is literally covered in oil because of hundreds of millions of years of dinosaurs and plants n shit.

That's about all, peace out.

Plus oil demand isn't increasing as much as it used to.
In an economy that depends on ever increasing growth that's the same as a decrease in demand.

"green" technology is already displacing oil in many areas not just cars.
Most of the EU is committed to be oil and coal free in 2050

reminder when taling about investors, it means the ones that had invested into oil before crash, but not those who just now invest into oil at low price

believeing that any investement can hold out forever is delusion

Amateur investor here. By no means am I any sort of expert on the subject, but I am definately seeing a worrying signal here.

After the 2008 bubble burst, the recovery made a long term triangle formation, which broke out downward. Now there is a second triangle formed. It is worth noting that while there is no way of truly knowing which way a triangle formation will break, it usually goes in the direction of the prior long-term trend. In this case, the trend is going downward.

tl;dr
shit is probably fucked

its china and everyone against this country, our corruption and our insanity. I would love too run, but i know we are very very threatening as a country nowheres safe, japan would be the safest but even then fukishima and other shit is gonna blow its a hazard living there and other european countries thanks too terrorism

>Heard in the news today that they have discovers an oil field in Alaska with 4,000,000,000 barrel of oil
pretty sure we've known about that for decades

There is a natural trend to financial behaviours.

Next crisis is around 2020. Most (((economists))) agree about it.

Thank for you input though.

>believing CIA/Deep state lies

yes, just like carbon gas warming

if your microcephalic head wasnt stuck up your ass, you would notice that the state of peak oil has been officially achieved several times over the past few decades

if we believe in peak oil lies, then we still are in the last peak oil crisis declared since the bush-enron era


fabricated peak oil propaganda is a creation of oil mafia to gouge oil prices


en.wikipedia.org/wiki/Peak_oil

In 1956, M. King Hubbert predicted that U.S. oil production would peak in the early 1970's

in 1971 Hubbert's prediction came true. The 100 year period when most of the world's oil is being discovered became known as "Hubbert's Peak".

The lie waned the prices increased and every few years peak oil scaremongering would be repeated to drive higher oil prices...Pessimistic claims of future oil production made after 2007 stated that the peak had already occurred
The present chaos in energy prices may, in fact, be the leading edge of an even more serious crisis. We all have to place our bets; doing nothing is equivalent to betting against Hubbert.


The group of oil executives, geologists, investment bankers, academics and others has been warning the world of high oil prices, and the ensuing fallout, for some years now.

The end of cheap oil

It includes a diverse range of oil industry insiders.

People like Ali Bakhtiari, head of strategic planning at Iran's National Oil Company (NOIC), Dr Colin Campbell, a former executive vice president of Total-Fina, and Matthew Simmons, an energy investment banker and adviser to the controversial Bush-Cheney energy plan.

They are united by one idea, that global oil production is about to peak, which in turn will signal the permanent end of cheap oil.
news.bbc.co.uk/2/hi/business/3777413.stm

we were told that we passed peak oil more than a decade ago
>the rise in oil prices over the last decade was a result of the peak oil crisis
>shale oil utilized, price does not decrease
>already way past peak oil and Saudi declares it will dramatically increase oil supply, indefinitely
>shale business goes bust
>oil prices decline rapidly

all of a sudden peak oil propaganda magically disappears. we can close all the shale business and just rely on Saudi increased production once more.

i heard that the gov't actually subsidized production and purchase of gas-guzzling SUVs that get 10 miles per gallon. it is ironic that the increase in production and purchases of SUVs coincided with the peak oil crisis with dramatic rise in gas price.

it is absurd to see US going to war "for oil" because of "peak oil", "oil shortages", "oil price increases" and yet, at the same time they increase production of gas-guzzling SUVs, becoming the most common car on the road. The gov't even funded and subsidized purchases of SUVs for the population.

and at the same time: magically stop shale oil production, magically increase Saudi oil production, magically have dramatic oil price declines..

The bastards are at like 80% storage capacity in the Cushing storage facility despite shutting down almost 800 rigs. They've tried to keep those prices up, hard, shutting down rigs, "refinery maintenance", labor strikes, the works. Fuel prices are still up compared to crude.
All of this without even considering all the new crude found and the abandoned projects.
It was all a ruse and the Saudi's showed they're willing to fuck everyone over market share.


Oil/Energy Crisis ruse

California electricity crisis, also known as the Western U.S. Energy Crisis, was a situation in which the United States state of California had a shortage of electricity supply caused by market manipulation by big corporations like Enron

en.wikipedia.org/wiki/California_electricity_crisis
youtu.be/tSUvUUMTshw?t=106

Typical engineer doesn't understand supply and demand. When supply goes down price goes up.

>be oil speculator in 2013
>watch offshore stocks rocket past earnings forecast
>see debt growing as they build more rigs
>start shorting
>watch stocks crash to single digits
>get out happy
>watch oil prices climb again
>same people who got raped in 2014 put money back in
>numbers don't look any different
>stocks rise again

The short is your friend if you want to make cash user. These oil speculators are keeping dropping the soap in the shower.