Oil back to $95 after dip to $90 due to Reserve release

[code1211]

I know what a joke, the jokes on us

Of course it is. It's manipulation.

There's a corner in town here where there are four gas stations, each on a different corner. Shell, Speedway, Kokolene and BP all coincidentally priced their gas at $3.69 the other day.

Can you say, "Price fixing"?

 

[RGR]

I know what a joke, the jokes on us

Of course it is. It's manipulation.

Only if you let yourself be manipulated. I bicycled to work this morning, setup some new computer goodies, checked emails, etc etc. Not a single gasoline molecule combusted in todays commuting.

I'm thinking of the best way to not combust natural gas for heat or hot water in the house next. Solar hot water setup of some sort perhaps, maybe in tandem with a PV driven pump on cold days to actually use it for heat as well? With enough of a PV setup I suppose I can do quite a bit, except for charging a future EV.

 

[RGR]

I know what a joke, the jokes on us

Of course it is. It's manipulation.

Can you say, "Price fixing"?

Teach them a lesson. Don't buy any. Get enough of your friends to join you, and I guarantee they will drop prices.

 

[JiggsCasey]

It's so funny watching the anti-conspiracy crowd rationalize that energy prices are all a big conspiracy.

When energy gets harder and harder to bring to market (because it is growing scarce up against ever-increasing global demand), the increased cost is necessary to spur new investment in exploration and infrastructure.

If people want to call that "manipulation," that's their prerogative. ... As the global economy, and the energy required to drive it's growth, exists today, the price needs to be high (but stable) if we want to delay the inevitable. ... Sorry, but there it is. .... But short price dips ultimately are a result of crushed demand... or, to put it another way: the end of growth. So be very careful what you wish for, because any relaxation in energy prices is the result of great suffering around the globe, not some mythical new find that doesn't really exist (Falklands, for example).

Short-term price volatility is somewhat meaningless in accessing peak. It's the longer term trends that matter. And those longer term trends have oil up some 500-600% in 10 years, and that is for no other reason that supply/demand shortfall.

The latest IEA numbers have the world pumping some 87.6 million barrels per day, yet requiring 90 million bpd. That is significant, and that is the very reason the world is in great turmoil, as it dips into strategic reserves in order to make up for it.

Make no mistake about it, we are at the plateau of global crude production. All the remains is the decline. Leave your investments right where they are are your own peril.

 

[American Cowboy]

You mean Obama taps the reserve and it did not solve our fuel price problem?

Another failure for Obama. This guy is a complete idiot.

Only one way to lower prices King Obammie, drill you MFer!!!

 

[JiggsCasey]

You mean Obama taps the reserve and it did not solve our fuel price problem?

Another failure for Obama. This guy is a complete idiot.

Only one way to lower prices King Obammie, drill you MFer!!!

Early nomination for uninformed caricature post of the month

 

[RGR]

Short-term price volatility is somewhat meaningless in accessing peak. It's the longer term trends that matter. And those longer term trends have oil up some 500-600% in 10 years, and that is for no other reason that supply/demand shortfall.

Only halfwits and morons ignore pricing in real terms to focus on nominal. Welcome back Jiggsy! How's peak oil treating you?

The latest IEA numbers have the world pumping some 87.6 million barrels per day, yet requiring 90 million bpd.

Pretty hard to accomplish, what with Faith declaring peak oil way back in 2006!! Matter of fact, it would be impossible for a second grader with a calculator to accomplish, but them IEA folks, them be pretty smartz!

Make no mistake about it, we are at the plateau of global crude production.

Well...thats what they claim when they aren't claiming peak...in 1989...or 2000...or 2005...or 2006....or 2008...or 2010 when oil production was even higher!

Methinks peakers need to get with the program and stop calling increases in production a plateau! From a professional such as yourself Jiggsy, how many more years/decades of more peaks do you think we have to suffer through?

 

[shintao]

heard a guy say today all he wound up doing by that strategic res. release was put a summer floor under the price ( oh and the dollar sunk again too) ....*shrugs*

anyway, nice job Mr. President..but hey, he got some headlines....

opps, wait, let me guess; it would have been worse if he hadn't...

Oil rises above $95 per barrel | PRIYO

Oh, I guess we are talking about the same oil that has been free for 2 billion years or so.

 

[JiggsCasey]

Only halfwits and morons ignore pricing in real terms to focus on nominal. Welcome back Jiggsy! How's peak oil treating you?

Verified more and more with each passing week. Conversely, you look dumber and dumber.

Awwww.

Pretty hard to accomplish, what with Faith declaring peak oil way back in 2006!! Matter of fact, it would be impossible for a second grader with a calculator to accomplish, but them IEA folks, them be pretty smartz!

Fatih is his name, you choad. And he was correct. Light crude production has barely budged since 2005. I know that's hard for your denialist brain to get around, but that's a fact. You're going to need to do a bit better than calling the same tired plays over and over again.

Well...thats what they claim when they aren't claiming peak...in 1989...or 2000...or 2005...or 2006....or 2008...or 2010 when oil production was even higher!

We've been over this, dickless. It's only "higher" in terms of total liquids, because they're having to add ever greater amounts of the heavy crap that is still not cost-effective. But the C+C? Oops. Basically flat since 2005.

You won't deny that fact, because you can't. All you can do is pretend you're smarter than the IEA and Jeremy Gilbert, and insist the guy kicking your ass all over this subforum is a "cultist." The irony, you fossil fuel slave.

Methinks peakers need to get with the program and stop calling increases in production a plateau! From a professional such as yourself Jiggsy, how many more years/decades of more peaks do you think we have to suffer through?

The world is aflame, the EU is soon to break up, U.S. states are on the verge of insolvency (and one has shut down altogether), food prices are out of control, two dozen nations are rioting, OPEC is at war with itself, China insists the U.S. is defaulting already. WTF do you think is the cause of all that global reality, o' great industry shill? Let me guess: Liberal law makers!!!

The more you post here, snake oil salesman, the more ridiculous you look.

But, as you say, we can all just bike to work and the problem will solve itself. LOL

You're an idiot.

 

[RGR]

Welcome back Jiggsy! How's peak oil treating you?

Verified more and more with each passing week. Conversely, you look dumber and dumber.

Well, come join me in dumbland then! I'll be at this conference in 2 weeks, trying to see if anyone will make me the 5 for 2 trade that some moron made famous on this very board! Stop on in and tell us all about how it works!

Oil Sands Heavy Oil Technology Conference & Exhibition: Calgary, Alberta, Canada

Then there are the usual round of international meet and greets:

Welcome to the 20th World Petroleum Congress

and of course no one can miss the national local conferences!

AAPG Annual Convention & Exhibition - Long Beach 2012

Abstract submission open, feel free to participate with all us dummies! I've decided to give another presentation I think, just like last year...didn't I invite you to that one? Whatever did happen, mom wouldn't let you have your paper route money to catch a bus to come watch the adults discuss these topics?

Fatih is his name, you choad.

Are we talking about the same Fatih who HASN'T retired like you claimed previously? Are you sure? Like your wonderful swap 5 for 2 idea, I'm not so certain there Jiggsy. You can't even make your way to an international conference to regale the geoscience professionals with your tales of peak (past, present or future) or the secret rights of your religion.

The irony, you fossil fuel slave.

Whatever do you mean Jiggsy? Been bicycling around the neighborhood as of late. Haven't you heard? There has been ANOTHER peak oil and sooner or later, SOMEONE might notice!

The world is aflame, the EU is soon to break up, U.S. states are on the verge of insolvency (and one has shut down altogether), food prices are out of control, two dozen nations are rioting, OPEC is at war with itself, China insists the U.S. is defaulting already. WTF do you think is the cause of all that global reality, o' great industry shill? Let me guess: Liberal law makers!!!

Amazing, that list. Why don't you include rationing and shortages of crude products? So now peak oil (past or present) was so awe inspiring that all you can come up with is sovereign debt, normal inflation, and outbreaks of democracy? Pretty pathetic there Jiggsy, wasn't peak oil supposed to cause some sort of OILY problem? Hell, we can have all that other stuff any day of the week and twice on Sundays, and HAVE been for...oh...does the American revolution ring a bell there genius? Let me guess, that was peak oil related too!

But, as you say, we can all just bike to work and the problem will solve itself. LOL

You're an idiot.

Could be, but certainly my nickname isn't "Mr 2 for 5" and the accompanying lack of credibility you caused yourself with that one!

 

[JiggsCasey]

Amazing, that list. Why don't you include rationing and shortages of crude products? So now peak oil (past or present) was so awe inspiring that all you can come up with is sovereign debt, normal inflation, and outbreaks of democracy?

ROFLMAO... There's nothing "normal" about what is happening in the world today, meatless. You're a fucking tool who masturbates to promises of shale oil deposits, a source which will never power the empire like it requires.

You know this, but you're so heavily invested into being a denialist dick on this sounding board that you can't possibly back track now. Keep up the ruse.

Pretty pathetic there Jiggsy, wasn't peak oil supposed to cause some sort of OILY problem?

As usual, to a con, if it doesn't happen over night, it must not be happening. Boiling frog syndrome, FTW!!!

Hell, we can have all that other stuff any day of the week and twice on Sundays, and HAVE been for...oh...does the American revolution ring a bell there genius? Let me guess, that was peak oil related too!

WTF are you even trying to say here? All WHAT other stuff? Its bad enough that you're a perpetual fraud, but add to that you can barely write with any clarity whatsoever, and you're pretty hopeless.

But, as you say, we can all just bike to work and the problem will solve itself. LOL

You're an idiot.

Could be, but certainly my nickname isn't "Mr 2 for 5" and the accompanying lack of credibility you caused yourself with that one!

Ah, that again. We've been over this. That's not what I said at all, you frothy Santorum. But it is telling that all these months later, you're still hinging your entire tired premise on the straw man arguments you conjure up for your floundering self.

Ah well. Add Goldman Sachs to the endless list of entities insisting peak is here.

Goldman Warns That Tight Supply Will Lift Oil Prices - WSJ.com

Gosh, the IMF, the IEA, Total Oil, the German Govt., the British Govt., Dick Cheney, Jeremy Gilbert, Sadad al-Husseini, Jeffrey Rubin, ... all these esteemed industry people, financial analysts and sovereign entities keep rolling in each month.... what secret island did all these groups meet to get their conspiracy story straight? And how have they all kept it so tight?

LOL.

My god, do you look more and more stupid, RGR. .... But urging me to come to your house to fight you and your army of industry shills? That takes the desperation cake.

I'll trust the corroborated and unanimous word of those entities above over your little fiefdom of ambitious investors any day of the week. Not only that, I have the conditions of the very sick global economy on my side of the argument as well.

Keep swimming upstream, little salmon.

Get Ready for $150 oil

Despite the recent 20% decline from April highs, new highs on crude, heating oil, diesel fuel, jet fuel and gasoline seem likely over the next 12 months. Following some further easing over the summer, the second leg of the long-term bull market in petroleum–the first occurred in 2007-08–probably will begin this fall.

As oil producers' spare capacity gradually declines to worrisome levels, the average monthly price could reach a record $150 per barrel by next spring, with spikes to $165 or $170. With this, $4.50-a-gallon gasoline will become the norm. That will put a huge dent in consumer wallets, while ramping up the desirability of fuel-efficient cars.​

But no matter. We're all sure you're oversold shale panacea will be along any decade now to head this off.

 

[rdean]

That must mean we need to give them more subsidies. Or Tax breaks. Because both work so well. Ask any Republican.

 

[RGR]

ROFLMAO... There's nothing "normal" about what is happening in the world today, meatless.

In terms of the most recent energy/oil scares, you are quite right, this one doesn't come close to the great running out of the 191X's, or the fear of running out during WWII, or even Jimmys little fear construction of the 70's. This one hasn't even included rationing, national scale programs to solve it, nada, zip, zilch.

Feel free to check back with us when it reaches even the normal level of oil scare Jiggsy.

Pretty pathetic there Jiggsy, wasn't peak oil supposed to cause some sort of OILY problem?

As usual, to a con, if it doesn't happen over night, it must not be happening. Boiling frog syndrome, FTW!!!

Overnight? We're going into our 14th decade of post oil peak/scare mania Jiggsy, covering pieces of 3 centuries now. What's your religious view on this matter, will we go another 3 waiting for your Rapture event to happen?

Gosh, the IMF, the IEA, Total Oil, the German Govt., the British Govt., Dick Cheney, Jeremy Gilbert, Sadad al-Husseini, Jeffrey Rubin, ... all these esteemed industry people, financial analysts and sovereign entities keep rolling in each month.... what secret island did all these groups meet to get their conspiracy story straight? And how have they all kept it so tight?

Certainly it has become obvious that your intellectual capabilities are limited to writing down as many names as you can from some peak talking points list, undoubtedly approved from the central propaganda office, but all I have asked of you is to actually think for yourself. Examine some of the basic facts involved, and just ask the simple question, how can that be THEN, yet it didn't happen, but they are still saying the same things NOW, and expecting the same result.

A pretty simply question really, but the implications for someone answering it honestly...well...thanks for demonstrating how strong a hold a given cult can have on the right brand of gullible and ignorant.

 

[JiggsCasey]

ROFLMAO... There's nothing "normal" about what is happening in the world today, meatless.

In terms of the most recent energy/oil scares, you are quite right, this one doesn't come close to the great running out of the 191X's, or the fear of running out during WWII, or even Jimmys little fear construction of the 70's. This one hasn't even included rationing, national scale programs to solve it, nada, zip, zilch.

Feel free to check back with us when it reaches even the normal level of oil scare Jiggsy.

Well, behind your gated Texas community, it's hardly surprising that you'd have absolutely zero capacity or understanding for what is going on in the world. Every time you see a new nation rioting over food prices, you probably immediately default to "liberal policies" as the cause. It's as far as your partisan brain allows you to rationalize.

Tell us, what "national scale program" could this nation afford to embark on right now? One state has shut down operations, and several more are on the runway. We're trillions in debt (all ultimately because of peak oil, mind you), and have to play games with our strategic reserves just to create the illusion to calm global oil trade.

As usual, to a con, if it doesn't happen over night, it must not be happening. Boiling frog syndrome, FTW!!!

Overnight? We're going into our 14th decade of post oil peak/scare mania Jiggsy, covering pieces of 3 centuries now. What's your religious view on this matter, will we go another 3 waiting for your Rapture event to happen?

It's so funny watching you straw man the unrefined claims of 70-150 years ago, and attribute them to me or anything I've ever said. You really are a desperate loser here, aren't you?

None of those claims back then have any bearing on my argument whatsoever. The conditions and the fallout from then to today are like comparing apples to oranges. Like I said in the other thread, the differences then and today are that global discoveries peaked 40 years ago, and 33 of 48 oil producing nations are WAY past their production peak.

You're such a flat-earther.

Gosh, the IMF, the IEA, Total Oil, the German Govt., the British Govt., Dick Cheney, Jeremy Gilbert, Sadad al-Husseini, Jeffrey Rubin, ... all these esteemed industry people, financial analysts and sovereign entities keep rolling in each month.... what secret island did all these groups meet to get their conspiracy story straight? And how have they all kept it so tight?

Certainly it has become obvious that your intellectual capabilities are limited to writing down as many names as you can from some peak talking points list, undoubtedly approved from the central propaganda office, but all I have asked of you is to actually think for yourself. Examine some of the basic facts involved, and just ask the simple question, how can that be THEN, yet it didn't happen, but they are still saying the same things NOW, and expecting the same result.

LOL!!! and you intellectual capabilities are limited to pretending they're all lying in unison for some bizarre cause.

I list them because I enjoy watching you hand-wave the conclusions reached by groups far smarter than you. It reveals for the entire forum to behold, just how utterly full of shit you truly are.

 

[RGR]

Well, behind your gated Texas community, it's hardly surprising that you'd have absolutely zero capacity or understanding for what is going on in the world.

Living neither in a gated community, nor Texas, and having pointed it out previously, need I mention that you should be working on some memory revitalization skills? As far as what is going on in the world, my information on the topic of oil, natural gas, the geology of both and the implications thereof aren't even being utilized in this conversation, only historical information even a parrot could look up if they wanted to. Don't blame me that you can't be bothered to actually learn something about this topic before bolting off another religious talking point.

Tell us, what "national scale program" could this nation afford to embark on right now?

Why? Do you want to parrot the obvious ones from your betters now, because thinking for yourself gives you migraines? Certainly I have written on this topic, at this website, before. Would you like 1st grade level instructions on how to use the search function?

One state has shut down operations, and several more are on the runway. We're trillions in debt (all ultimately because of peak oil, mind you), and have to play games with our strategic reserves just to create the illusion to calm global oil trade.

None of those have anything to do with peak oil. Jiggsy, I must ask, do you even know what oil IS? Held it in your hand? Smeared it around in an attempt to get it off your hands? Wished that it smelled better?

While the desire to confuse plenty of this substance to go around with financial difficulties with a particular state is amusing, it is nothing more than a religious group who once claimed that we would all starve because the tractors would stop running, and when peak oil happened (pick your favorite, 1989, 2000, 2005, 2006, 2008 or our most recent 2010) and that didn't happen, they launched off into these claims of oil uber alles. And you are now apparently implying that political shenanigans related to overspending on the part of Minnesota are peak oil related? You do realize that Minnesota doesn't produce much in the way of oil, right? Never has, and therefore can hardly be suffering now because it still doesn't produce any, right?

None of those claims back then have any bearing on my argument whatsoever. The conditions and the fallout from then to today are like comparing apples to oranges. Like I said in the other thread, the differences then and today are that global discoveries peaked 40 years ago, and 33 of 48 oil producing nations are WAY past their production peak.

If you understood the past I am referring to, and the conditions of those peak oils and claims of running out, you would not so lightly make that statement. Doing so simply reveals your ignorance of the history involved. Another question which you studiously run from like an elephant from a mouse, how many decades can happen between peaks in the same producing region? if peak oil REALLY is peak oil, that means we can't have yet ANOTHER peak oil. The world, for example, peaked in about 1979. Took some 10-15 years for it to peak again. How long can that time period be stretched? 20 years? 40 years? A century? So to be certain we finally have the peak/Rapture event your religion demands, how long do we have to wait, to be sure?

Examine some of the basic facts involved, and just ask the simple question, how can that be THEN, yet it didn't happen, but they are still saying the same things NOW, and expecting the same result.

LOL!!! and you intellectual capabilities are limited to pretending they're all lying in unison for some bizarre cause.

Certainly you haven't read the reports, so there is no point in arguing details you don't understand, but this obvious comment comes to mind. How many times BEFORE have even smarter people, with experience in the field, said THE SAME THING. And been wrong? And why are these banks and reports and agencies and businessmen right?

 

[cielo42]

i can't even afford to drive my car when gas prices are above $3.50

 

[RGR]

i can't even afford to drive my car when gas prices are above $3.50

Then choose your favorite alternative. Mine of late has been bicycling.

 

[Mr. H.]

I can't afford to buy gas when it's $1.00. Go figger.