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Saudi Arabia to lower oil prices, the houston boom is over

Discussion in 'BBS Hangout' started by da1, Oct 13, 2014.

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  1. Mr. Brightside

    Mr. Brightside Contributing Member

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    Anyone watching crude prices? It's broken its consolidation range and now at multi month lows and possible we can hit the yearly lows of 42/barrel shortly.
     
    #881 Mr. Brightside, Jul 3, 2015
  2. dmoneybangbang

    dmoneybangbang Member

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    Most of the world is urbanizaing into large megacities today, not tomorrow.


    Where are the EV cars going to get their electricity? Coal will still be a major form of energy for the forseeable future. Developing countries need cheap energy.
     
    #882 dmoneybangbang, Jul 3, 2015
  3. GanjaRocket

    GanjaRocket Member

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    Solar is getting exponentially cheaper.. and installing is much simpler than running a whole power plant.. a big plug for developing nation

    Baseload power can still come from combustion but batteries and renewables will fill in the grid. Not more fossil fuel

    The EV cars are here, today. Tomorrow they will be even better
     
    #883 GanjaRocket, Jul 3, 2015
  4. Dairy Ashford

    Dairy Ashford Member

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    I assumed it was created to consolidate commissions that had been regulating natural gas, power and oil exploration for 75 years before then. I believe you have some other stories about how Martin Luther King slept with white women and there are no other federal holidays named after a person.
     
    #884 Dairy Ashford, Jul 3, 2015
  5. dmoneybangbang

    dmoneybangbang Member

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    Don't necessarily disagree with you, I think it's naive to think oil prices won't reach $100 like you said earlier. We haven't crossed that imaginary line yet.
    Oil still has a pretty big advantage with energy storage compared EVs, which I have no doubt will dwindle once batteries reach the point that EVs become an economy car. Personally, I'm betting nat gas to replace coal.
     
    #885 dmoneybangbang, Jul 3, 2015
  6. A_3PO

    A_3PO Member

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    There is nothing naive about this. Lots of people in the industry feel the same way (barring a catastrophic or major geopolitical event).
     
    #886 A_3PO, Jul 3, 2015
  7. Mr. Clutch

    Mr. Clutch Contributing Member

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    Then what is it?
     
    #887 Mr. Clutch, Jul 4, 2015
  8. Sweet Lou 4 2

    Sweet Lou 4 2 Contributing Member
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    DOE handles all of our nuclear programs - both civilian and military (yes all of our nukes). It also is the number one gov't funder of research in the country. Conservation is one of many many many many things it does.
     
    #888 Sweet Lou 4 2, Jul 4, 2015
  9. GanjaRocket

    GanjaRocket Member

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    losers in suits who think they can run the world by printing money and loaning it to everyone
     
    #889 GanjaRocket, Jul 4, 2015
  10. Major

    Major Member

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    FWIW, a few years ago, no one in the oil industry was predicting $50 prices today.
     
    #890 Major, Jul 4, 2015
  11. GanjaRocket

    GanjaRocket Member

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    much easier to be realistic of the situation when times are tough.. bc it forces us to

    at $100 no one could foresee Saudi meddling or would even stop to think about alternatives that could reduce the demand of oil

    and of course tech is exponential.. things that didnt exist then do today
     
    #891 GanjaRocket, Jul 4, 2015
  12. REEKO_HTOWN

    REEKO_HTOWN I'm Rich Biiiiaaatch!

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    Timber!
     
    #892 REEKO_HTOWN, Jul 6, 2015
  13. Mr. Clutch

    Mr. Clutch Contributing Member

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    Why is wheat skyrocketing?
     
    #893 Mr. Clutch, Jul 6, 2015
  14. dmoneybangbang

    dmoneybangbang Member

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    I guess we talk to different people. Considering a good chunk of production comes in geopolitically unstable places and we still have billions of people trying to modernize, it is pretty naive to think it can't happen again.

    Saudi didn't meddle, we just became the biggest producer in the world while global demand slowed. Supply and demand can be a cruel mistress.
     
    #894 dmoneybangbang, Jul 6, 2015
  15. GanjaRocket

    GanjaRocket Member

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    When n***as gotta eat that's when **** get greeazy
     
    #895 GanjaRocket, Jul 6, 2015
  16. MadMax

    MadMax Contributing Member

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    Technip laying off 6,000.

    I never say never..and usually when people say things like "never" or "always" it's time to bet the other direction. But I have a difficult time seeing anything but depressed prices for oil for the foreseeable future.
     
    #896 MadMax, Jul 7, 2015
  17. sammy

    sammy Contributing Member

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    My cousin used to work there. Even with $100 plus oil prices, he said that company got run like crap so he ended up going to Ensco.
     
    #897 sammy, Jul 7, 2015
  18. Dubious

    Dubious Contributing Member

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    Just read if the Iran deal works they have 40 million barrels stored on ships and the capacity to add 700,000 barrels a day to the world market. Another 3% of the total demand, I think, about the same as the Eagle Ford and we know what that did to oil prices.

    I wonder why they aren't just selling it to China, price issues? everybody has price issues now.
     
    #898 Dubious, Jul 7, 2015
  19. GanjaRocket

    GanjaRocket Member

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    <blockquote class="twitter-tweet" lang="en"><p lang="en" dir="ltr">Tesla CTO &amp; co-founder JB Straubel envisions a world where low cost batteries change everything <a href="http://t.co/iNVZlc7EFC">http://t.co/iNVZlc7EFC</a></p>&mdash; Katie Fehrenbacher (@katiefehren) <a href="https://twitter.com/katiefehren/status/620810244566810625">July 14, 2015</a></blockquote>
    <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>

    <blockquote class="twitter-tweet" lang="en"><p lang="en" dir="ltr">Exactly what we were thinking. Forget oil ;) <a href="http://t.co/1byiEdJE8b">pic.twitter.com/1byiEdJE8b</a></p>&mdash; Tesla Motors (@TeslaMotors) <a href="https://twitter.com/TeslaMotors/status/620984416114839553">July 14, 2015</a></blockquote>
    <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>
     
    #899 GanjaRocket, Jul 14, 2015
  20. peleincubus

    peleincubus Member

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    there is no such thing as done with oil. #polluteforever
     
    #900 peleincubus, Jul 14, 2015
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