Mr. H.
Diamond Member
JC, oil could be selling for $10 a barrel in 2015.
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We had oil as low as $10 a barrel for a bit under the clinton administration.
How can it go from THAT to nearly $100 bucks a barrel a few years ago?
someone is playing games with us, that seems certain.
You realise the Clinton Adminisitration ended in 2000.
Almost 11 years ago........we're getting old, Care. Everything costs more these days!!
Please show me, anything at all that had gone up 900% in price in less than 10 years.. think it was 10 years or there abouts.
something is fishy....unless of course, we really are using up and running out of easily accessible oil...but even if true, the hikes in prices a couple of years ago, seems like manipulation to me.
Building your economy exclusively on resource extraction is a recipe for disaster though
Yes, but you gotta start somewhere.
Once Qatar has built enough Camal Jerky processing facilities, you'll see economic diversification.
The 12 Fastest Growing Economies in 2010**
Country Growth Rate
1. Qatar 16.4%
2. Botswana 14.4%
3. Azerbaijan 12.3%
4. Republic of Congo 11.9%
5. Angola 9.3%
6. East Timor 7.87%
7. Liberia 7.53%
8. China 7.51%
9. Afghanistan 7.01%
10. Uzbekistan 7.00%
11. Turkmenistan 6.96%
12. Iraq 6.69%
Source: GDP Growth Forecast 2010, EconomyWatch.com Economic Statistics Database
And what is the #1 reason....?
The insatiable demand for energy. That has been the big story for much of this decade. A higher standard of living, cheaper international travel, and the proliferation of electronic gadgets in the western world leads to ever higher per-person energy consumption in advanced economies. As massive countries like China, India and Indonesia grow, their citizens become richer and aspire to the same lifestyle, leading to ever greater energy needs. Countries like Qatar, with the world's largest natural gas reserves, and Azerbaijan with its vast oil fields, have boomed as a result.
**credit USMB member Meister for finding the article**
Building your economy exclusively on resource extraction is a recipe for disaster though
Yes, but you gotta start somewhere.
Once Qatar has built enough Camal Jerky processing facilities, you'll see economic diversification.
doubtful. the sheiks will just get bigger yachts and more wives. these cats dont know what they are doing with stewarding an economy. obviously they don't care.
The 12 Fastest Growing Economies in 2010**
Country Growth Rate
1. Qatar 16.4%
2. Botswana 14.4%
3. Azerbaijan 12.3%
4. Republic of Congo 11.9%
5. Angola 9.3%
6. East Timor 7.87%
7. Liberia 7.53%
8. China 7.51%
9. Afghanistan 7.01%
10. Uzbekistan 7.00%
11. Turkmenistan 6.96%
12. Iraq 6.69%
Source: GDP Growth Forecast 2010, EconomyWatch.com Economic Statistics Database
And what is the #1 reason....?
The insatiable demand for energy. That has been the big story for much of this decade. A higher standard of living, cheaper international travel, and the proliferation of electronic gadgets in the western world leads to ever higher per-person energy consumption in advanced economies. As massive countries like China, India and Indonesia grow, their citizens become richer and aspire to the same lifestyle, leading to ever greater energy needs. Countries like Qatar, with the world's largest natural gas reserves, and Azerbaijan with its vast oil fields, have boomed as a result.
**credit USMB member Meister for finding the article**
I am shocked Brazil is not on that upper 12 list....hummm.
We had oil as low as $10 a barrel for a bit under the clinton administration.
How can it go from THAT to nearly $100 bucks a barrel a few years ago?
someone is playing games with us, that seems certain.
You realise the Clinton Adminisitration ended in 2000.
Almost 11 years ago........we're getting old, Care. Everything costs more these days!!
Please show me, anything at all that had gone up 900% in price in less than 10 years.. think it was 10 years or there abouts.
something is fishy....unless of course, we really are using up and running out of easily accessible oil...but even if true, the hikes in prices a couple of years ago, seems like manipulation to me.
Building your economy exclusively on resource extraction is a recipe for disaster though
Yes, but you gotta start somewhere.
Once Qatar has built enough Camal Jerky processing facilities, you'll see economic diversification.
JC - subscribe to RIGZONE - Your Gateway to the Oil & Gas Industry. I signed up a year ago this month and have nearly 300 emailed newsletters, almost every one of them announces a new discovery somewhere in the world.
Its no use.
RIGZONE has been annoucing hundreds of new discoveries every year since 1973, and the wild-eyed "peak oil" fanatics won't let go of their mantra that ANY DAY NOW their predictions will materialize.
BUZZZZZZ!if that were true then oil prices should NEVER have skyrocketed as they did....
That is called elementary push inflation. There's too much money out chasing too few goods, so the prices rise. It has nothing to do with the product, it's an economic issue. The value of the oil is not chasing, the currency is devaluing.Prices go up because someone has the money and is willing to pay for it. LOL
I'd love to see a link on 70% of cali's energy ever getting supplied by solar.
Also BP nor anyone esle is going to think deep drilling is prohibitive. ie rage over moritaorium
That is called elementary push inflation. There's too much money out chasing too few goods, so the prices rise. It has nothing to do with the product, it's an economic issue. The value of the oil is not chasing, the currency is devaluing.Prices go up because someone has the money and is willing to pay for it. LOL
Case in point, Oil's price, compared to gold is the same as it was, give or take a little fluctuation, as it was in the 1930's. The dollar devalued catastrophically since the 1970's.
BUZZZZZZ!if that were true then oil prices should NEVER have skyrocketed as they did....
Every price spike in oil has one thing in common. It was always caused by politics. It has never been caused by lack of supply or cost of production. When Sodamn Insane blew up the Kuwaiti oil wells (worlds largest environmental disaster AND cause of a price spike that never truly occurred, the price rise was mild. Even the hurricanes of 2005 did not cause a major spike in the cost to produce.
Only politicians and their tools of stupidity cause price spikes. OPEC embargos, wars, trade restrictions, sanctions, rationing, taxes, tariffs. These are the causes of price spikes.
What stops us from finding more oil? 90% of that is also politics with politicians either banning methods OR putting locations 'off limits' to exploration. Or they slap down punitive taxes and moratoriums on the production of oil so high, the companies justifiably move elsewhere to get somewhere else what a government is too stupid to allow the proper exploitation of their native resources and make money for themselves off it.
Peak Oil is a political fraud. Why is it being perpetrated? Because prosperity destroys the support for progressofascism, and that's who supports this lie.
And to King Chicken Little the Last, Shut up. Nobody with a brain buys your Oludavi trench bullshit.
I am shocked Brazil is not on that upper 12 list....hummm.
Your argument discounts the possibility that price increases could be triggered by political events even tho the driving cause of the increase is still scarcity and increased demand. Inflation never sleeps but it isn't realized as a flat progression either. Spikes occur at politically triggered moments.