Oil & Gas thread:12-17-08 OPEC & non-members agree to largest reduction in history 7 percent

[Capt Caveman]

Dave make sure to update your topic title:

Oil tumbles below $40 for first time since 2004

 

[StageLeft]

$130 oil in 2030

Looking long-term, the Energy Department said Wednesday that crude oil could rise again, reaching $130 a barrel in 2030 as global supplies diminish, but it also predicted that demand for fuel would rise by only 1 million barrels a day during that two-decade time period.

I think these long term predictions are nothing more than throwing a dart at a wall with numbers on it, but this is what the ED thinks.

Oil's bubble has been one of history's best, less severe in impact than housing, but far more fantastic to watch, so far in just over five months we've seen it shed over 70% of its value. This will not be soon forgotten by investors, and oil is going to have a terribly hard time breaking even $100 within the next several years, even for a temporary bump. A very hard time.

 

[dmcowen674]

Originally posted by: Skoorb
$130 oil in 2030

Looking long-term, the Energy Department said Wednesday that crude oil could rise again, reaching $130 a barrel in 2030 as global supplies diminish, but it also predicted that demand for fuel would rise by only 1 million barrels a day during that two-decade time period.

I think these long term predictions are nothing more than throwing a dart at a wall with numbers on it, but this is what the ED thinks.

Yep, that $147 $5 gas never happened. :roll:

 

[StageLeft]

Originally posted by: dmcowen674

Originally posted by: Skoorb
$130 oil in 2030

Looking long-term, the Energy Department said Wednesday that crude oil could rise again, reaching $130 a barrel in 2030 as global supplies diminish, but it also predicted that demand for fuel would rise by only 1 million barrels a day during that two-decade time period.

I think these long term predictions are nothing more than throwing a dart at a wall with numbers on it, but this is what the ED thinks.

Yep, that $147 $5 gas never happened. :roll:

I'm surprised you're back in this thread after being owned like a school kid yesterday with your "surprise".

 

[OokiiNeko]

Good job, kids, wife, finances, great health.

Obsession with so-called loser and almost 60,000 posts say all may not be "perfect".

 

[StageLeft]

Originally posted by: OokiiNeko

Good job, kids, wife, finances, great health.

Obsession with so-called loser and almost 60,000 posts say all may not be "perfect".

I like to put my :heart: into things and do them well.

 

[The-Noid]

Here's the prediction for Dave. All you can trade is the market you have. I think we will see $200 at some point in my life. However in the short term there is a contango in the oil contract which is incredibly bearish for oil (source: The Gartman Letter, CFA study material).

You will $30 oil before February with a rebound to a weighted average price of $47 for next year. Anything farther out is just a guess.

You can put that in your sig, because that is going to be what happens.

Having said that I am going to cover half my position at $35 on the downside, and at $40 on a breakout.

Natural Gas is the animal you should be talking about, because we are having a cold winter and the price does not justify the supply.

http://en.wikipedia.org/wiki/Contango

 

[dmcowen674]

Originally posted by: Yoxxy
However in the short term there is a contango in the oil contract which is incredibly bearish for oil (source: The Gartman Letter, CFA study material).

They can use whatever words they want, I call it CRIMINAL

 

[The-Noid]

Contango means that the future contract cost more than the spot price contract as you expect long-term supply to be less or there is storage cost currently as all the oil is not being used.

That is not criminal. You are an idiot.

 

[EagleKeeper]

Originally posted by: dmcowen674

Originally posted by: Yoxxy
However in the short term there is a contango in the oil contract which is incredibly bearish for oil (source: The Gartman Letter, CFA study material).

They can use whatever words they want, I call it CRIMINAL

Crimminal is when a law is broken.

Have you identified the law yet?

 

[The-Noid]

Apparently in Dave's world not giving a commodity away for $0 is against the law. I understand the sickness that goes on in his head. It is the same problem that many Americans have in today's world. A lack of doing. My family used to have a saying "Those who do, do, those who don't teach." It appears as if in today's society it is more of "Those who do, do, those who don't expect every one to pay them for nothing."

 

[dmcowen674]

Originally posted by: Common Courtesy

Originally posted by: dmcowen674

Originally posted by: Yoxxy
However in the short term there is a contango in the oil contract which is incredibly bearish for oil (source: The Gartman Letter, CFA study material).

They can use whatever words they want, I call it CRIMINAL

Crimminal is when a law is broken.

Have you identified the law yet?

Humanity

 

[Capt Caveman]

Dave, why don't you update your thread when the news goes against your conspiracy?

I guess OPEC's record reduction is driving the price into the $30s and not the $200 you want.

U.S. oil dives to $38 ahead of January expiry

 

[OokiiNeko]

I like to put my heart into things and do them well.

Well you certainly do the first part; the second not so much. You and your fanbois have been bashing poor old Dave far beyond what I would call rational. Approaching psycopathic would be closer to what the evidence suggests.
So Dave`s had a rough ride. Haven`t we all had trouble at some point.

But really, "OMG gas only got to $4.50 when you said it would get to $5, you are so-o-o stoopid DIAF."

Even better, "OMG Dave is such a doody head and I can`t stop myself from coming here, mods lock this thread NOW!"

Are those rational posts? Or is it, Are posting those posts rational actions? (heh)

Honestly Skoorb (and company), I like Dave cause his issues are right there for the whole world to see. You guys got hidden issues, and to me, that`s a helluva lot more scary.

 

[StageLeft]

Originally posted by: OokiiNeko

I like to put my heart into things and do them well.

Well you certainly do the first part; the second not so much. You and your fanbois have been bashing poor old Dave far beyond what I would call rational. Approaching psycopathic would be closer to what the evidence suggests.
So Dave`s had a rough ride. Haven`t we all had trouble at some point.

But really, "OMG gas only got to $4.50 when you said it would get to $5, you are so-o-o stoopid DIAF."

Even better, "OMG Dave is such a doody head and I can`t stop myself from coming here, mods lock this thread NOW!"

Are those rational posts? Or is it, Are posting those posts rational actions? (heh)

Honestly Skoorb (and company), I like Dave cause his issues are right there for the whole world to see. You guys got hidden issues, and to me, that`s a helluva lot more scary.

lol, are you finished?

 

[The-Noid]

I have given full disclosure of my positions (short oil, long nat gas). I just try to provide a financial basis to what Dave has turned into "A Crime Against Humanity."

He just makes BS posts in many threads, it gets on my nerves and from this topic many others.

At some point he would simply admit he knows very little about the markets and wouldn't take the arrogant attitude he has, I think people will leave him alone.

Until then, he can keep posting "Big surprise from OPEC oil is going to 10 quadrillion."

 

[alchemize]

Originally posted by: Skoorb

Originally posted by: OokiiNeko

I like to put my heart into things and do them well.

Well you certainly do the first part; the second not so much. You and your fanbois have been bashing poor old Dave far beyond what I would call rational. Approaching psycopathic would be closer to what the evidence suggests.
So Dave`s had a rough ride. Haven`t we all had trouble at some point.

But really, "OMG gas only got to $4.50 when you said it would get to $5, you are so-o-o stoopid DIAF."

Even better, "OMG Dave is such a doody head and I can`t stop myself from coming here, mods lock this thread NOW!"

Are those rational posts? Or is it, Are posting those posts rational actions? (heh)

Honestly Skoorb (and company), I like Dave cause his issues are right there for the whole world to see. You guys got hidden issues, and to me, that`s a helluva lot more scary.

lol, are you finished?

I can't hit youtube at work, but I'd bet a $1 you linked to "Leave Brittney Alone!!!"???

 

[Capt Caveman]

Originally posted by: OokiiNeko
I like Dave cause his issues are right there for the whole world to see. You guys got hidden issues, and to me, that`s a helluva lot more scary.

And you support his posts of lies and misinformation. That's truly sad and pathetic.

If Dave didn't cry about $200 oil every time oil goes up for a single day then doesn't comment when the price then goes down weeks in a row, can't explain the price drop when he cries criminal 110% greed, etc. People get sick of it. Since he hasn't been banned, people feel the need to debunk his posts.

 

[StageLeft]

I can't hit youtube at work, but I'd bet a $1 you linked to "Leave Brittney Alone!!!"???

 

[OokiiNeko]

And you support his posts of lies and misinformation. That's truly sad and pathetic.

Dave`s not the only who has been caught lying.

 

[Capt Caveman]

Originally posted by: OokiiNeko

And you support his posts of lies and misinformation. That's truly sad and pathetic.

Dave`s not the only who has been caught lying.

Links?

 

[OokiiNeko]

I can't hit youtube at work, but I'd bet a $1 you linked to "Leave Brittney Alone!!!"???

I have to admit, that got a chuckle out of me.

 

[StageLeft]

Originally posted by: OokiiNeko

And you support his posts of lies and misinformation. That's truly sad and pathetic.

Dave`s not the only who has been caught lying.

Your smiley face is disingenuous and could strictly be called lying since it belies the content of your posts.

 

[EagleKeeper]

Originally posted by: dmcowen674

Originally posted by: Common Courtesy

Originally posted by: dmcowen674

Originally posted by: Yoxxy
However in the short term there is a contango in the oil contract which is incredibly bearish for oil (source: The Gartman Letter, CFA study material).

They can use whatever words they want, I call it CRIMINAL

Crimminal is when a law is broken.

Have you identified the law yet?

Humanity

Everyone is allowed to have their own delusions.

 

[OokiiNeko]

Your smiley face is disingenuous and could strictly be called lying since it belies the content of your posts.

Not at all. Always happy to spend a few moments here. Even if it is chatting with crazy people.