War Between Saudi Arabia And Iran Could Send Oil Prices To $250 and possibly spike over $500 | |
TheToolMan
User ID: 21180539 United States 01/13/2016 09:40 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 61906181 United States 01/13/2016 09:41 AM Report Abusive Post Report Copyright Violation | None of the talk about oil going up or down makes any sense. Quoting: Anonymous Coward 71224684 Oil will go up or down when the pope says so. Hint: He said that we need more renewable energy, not oil. oil is down because nobody is using it, nobody is buying it, the World is in The Great Depression. . [link to thebigfixmovie.com] |
Phillip J. Fry
User ID: 49105274 United States 01/13/2016 09:42 AM Report Abusive Post Report Copyright Violation | Sub 30$ oil, why. Why would everybody be selling, ramping up production in a totally glutted market. Iran is now, thanks to Obama & Kerry ready to sell 600K barrels of per day into this market. Why are the Saudis selling ARAMACO the largest oil co. in the world? Why do they need the money at the cost of destroying their prime livelihood? Quoting: Phillip J. Fry The answer is War Money. All the chips are on the table. Iran vs Saudis Iran make nukes? Their partner is N. Korea. Saudis start a nuke program? Who funded Pakistan's program? The safe bet is they both already have them. WW3 looms behind the the leader most hyped up on the Crazy Rhetoric of Islam. Iran has nukes Saudis have none most now are going buy iran oil and gas yes war is coming russia china n Korea syria and a few more all will back Iran,will we back the Saudis if they force war with iran?. The Saudi / Pakistan deal was, bombs delivered to Saudi Arabia upon request. . "Don't do anything that affects anything. Unless it turns out you were supposed to do it, in which case for the love of God. Don't not do it!" |
Anonymous Coward User ID: 71172285 United States 01/13/2016 09:43 AM Report Abusive Post Report Copyright Violation | |
King Triad
User ID: 68152912 United States 01/13/2016 09:46 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 39518785 United States 01/13/2016 09:48 AM Report Abusive Post Report Copyright Violation | Sub 30$ oil, why. Why would everybody be selling, ramping up production in a totally glutted market. Iran is now, thanks to Obama & Kerry ready to sell 600K barrels of per day into this market. Why are the Saudis selling ARAMACO the largest oil co. in the world? Why do they need the money at the cost of destroying their prime livelihood? Quoting: Phillip J. Fry The answer is War Money. All the chips are on the table. Iran vs Saudis Iran make nukes? Their partner is N. Korea. Saudis start a nuke program? Who funded Pakistan's program? The safe bet is they both already have them. WW3 looms behind the the leader most hyped up on the Crazy Rhetoric of Islam. Iran has nukes Saudis have none most now are going buy iran oil and gas yes war is coming russia china n Korea syria and a few more all will back Iran,will we back the Saudis if they force war with iran?. The Saudi / Pakistan deal was, bombs delivered to Saudi Arabia upon request. true, the Saudis and Pakies are Sunni. but Pakistan is sitting this one out.... . |
Anonymous Coward User ID: 39518785 United States 01/13/2016 09:53 AM Report Abusive Post Report Copyright Violation | War would mean suicide for both countries. they are to selfish to cut their own heads off...it's just more rumors... Iran means to establish the new Persian Empire and Hegemony over the whole Middle East. Arabia, Iraq will be absorbed by the Empire. Syria may or may not remain autonomous, and Turkey will be dissolved and divided-up between the Armenians, the Kurds, Russia and Greece. (Lebanon will go to Hezbollah. and Jordan ?) (and, Note: even with all of Iran's "misbehavior" lately, the NWO will be giving Iran back 100 Billion Dollar in frozen assest this week.) . |
Anonymous Coward User ID: 71172285 United States 01/13/2016 09:56 AM Report Abusive Post Report Copyright Violation | War would mean suicide for both countries. they are to selfish to cut their own heads off...it's just more rumors... Iran means to establish the new Persian Empire and Hegemony over the whole Middle East. Arabia, Iraq will be absorbed by the Empire. Syria may or may not remain autonomous, and Turkey will be dissolved and divided-up between the Armenians, the Kurds, Russia and Greece. (Lebanon will go to Hezbollah. and Jordan ?) (and, Note: even with all of Iran's "misbehavior" lately, the NWO will be giving Iran back 100 Billion Dollar in frozen assest this week.) . |
Anonymous Coward User ID: 7808537 United States 01/13/2016 10:02 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 7808537 United States 01/13/2016 10:09 AM Report Abusive Post Report Copyright Violation | US has their our sources now with fracking as well as mexico and Canada. North America will be swimming in oil for the next 150 years. Just that it'll be $70-$80 a barrel because of the higher costs of that form of extraction. Quoting: Anonymous Coward 70664444 Errrr, No. There is not that much oil within known U.S. reserves. Strategic national policy has always been to "sip" U.S. reserves while consuming larger quantities from abroad. theres roughly 50 years of oil reserves in the US. Wrong. Oil shale is a century's worth of oil for us. |
Anonymous Coward User ID: 39518785 United States 01/13/2016 10:13 AM Report Abusive Post Report Copyright Violation | US has their our sources now with fracking as well as mexico and Canada. North America will be swimming in oil for the next 150 years. Just that it'll be $70-$80 a barrel because of the higher costs of that form of extraction. Quoting: Anonymous Coward 70664444 Errrr, No. There is not that much oil within known U.S. reserves. Strategic national policy has always been to "sip" U.S. reserves while consuming larger quantities from abroad. theres roughly 50 years of oil reserves in the US. Wrong. Oil shale is a century's worth of oil for us. is Oil Shale the same as Fracking ? |
Anonymous Coward User ID: 69764054 United States 01/13/2016 10:16 AM Report Abusive Post Report Copyright Violation | US has their our sources now with fracking as well as mexico and Canada. North America will be swimming in oil for the next 150 years. Just that it'll be $70-$80 a barrel because of the higher costs of that form of extraction. Quoting: Anonymous Coward 70664444 Errrr, No. There is not that much oil within known U.S. reserves. Strategic national policy has always been to "sip" U.S. reserves while consuming larger quantities from abroad. theres roughly 50 years of oil reserves in the US. Wrong. Oil shale is a century's worth of oil for us. im refering to oil from conventional drilling methods |
nikki nikita
User ID: 71071950 United States 01/13/2016 10:17 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 71231860 Puerto Rico 01/13/2016 10:20 AM Report Abusive Post Report Copyright Violation | "If there is a war confronting Iran and Saudi Arabia, oil could overnight go to above $250, but decline [back] down to the $100 level,” said Askari. “If they attack each other’s loading facilities, then we could see oil spike to over $500 and stay around there for some time depending on the extent of the damage.” Quoting: Taskforce88 [link to oilprice.com] Petrol is being synthesized from CO² and Hydrogen,if there is war its only an excuse for theft & profit. [link to www.google.com.pr (secure)] Read all the articles here .... Fuck the propaganda war mongers ....! |
Tony253
User ID: 17440182 United States 01/13/2016 10:20 AM Report Abusive Post Report Copyright Violation | US has their our sources now with fracking as well as mexico and Canada. North America will be swimming in oil for the next 150 years. Just that it'll be $70-$80 a barrel because of the higher costs of that form of extraction. Quoting: Anonymous Coward 70664444 Errrr, No. There is not that much oil within known U.S. reserves. Strategic national policy has always been to "sip" U.S. reserves while consuming larger quantities from abroad. theres roughly 50 years of oil reserves in the US. Wrong. Oil shale is a century's worth of oil for us. Read something recently that claims 2 million barrel per day surplus in world oil market is main reason for price drop...Fracking has unlocked centuries worth of oil. The huge Utah find is 40% larger than Bakken and theres no oil coming out of there yet... A day without GLP info is like a day without sunshine... |
*Stein* User ID: 53390987 Saudi Arabia 01/13/2016 10:28 AM Report Abusive Post Report Copyright Violation | "If there is a war confronting Iran and Saudi Arabia, oil could overnight go to above $250, but decline [back] down to the $100 level,” said Askari. “If they attack each other’s loading facilities, then we could see oil spike to over $500 and stay around there for some time depending on the extent of the damage.” Quoting: Taskforce88 [link to oilprice.com] Hi, I'm a floor trader. Been working now for *many* years and I'm about to retire. But not because of oil or age, simply because of the stress. I'm just not cut out for this anymore. My first post on GLP and I won't post again until my prediction comes true. So you better listen up. Ready? First the TA which anyone can do. Nothing secret here just basic TA. WTI has very strong support at $30. There is a <40% chance it will go below $29 and a ~15% chance it will go below $25. Set up for a short term bounce back to $37. Watch anything energy related follow it higher but only for a few days to a week at most. Then back to $30. Once that settles at $30 for 6-8 weeks it will slowly rise again. We will see a ton of volatility. Great for traders and brokers. Oil should settle around $40 for all of 2016 as the 20 yr energy super cycle comes to an end ****Barring any strange intervention from Saudi to cut production. I can't predict their sanity. Saudi wants to take Saudi Aramco public. It's a fire sale and it makes sense. No, actually it is there only viable option besides selling off their stock holdings in the US. They played a game of chicken with the N/A oil sands and wells and it is taking much longer than expected to flush them out. A lot of smaller players will get buried but now Saudi has cut so close to the bone for all OPEC members, Iran is getting ready to pull the trigger. Nigeria just called up and asked WTF is going on should we leave OPEC? They said wait another 12 months. Ha! Saudi might be able to hold out but others won't and can't. The irony is oil will super spike in 2018-2020. Saudi knows it takes between 18-24 months to get the wells up and running a profit so once oil goes back above $70 they are back online. There is no stopping this beast. Saudi may have won the battle but they are losing the war. Their fire sale is a clear indicator of this. I would stay clear of that IPO for several reasons, the least of which is the price of oil. Instead they will claim to have access to 270 billion barrels of Saudi sweet. They don't. Its a lie. They have less than 80 billion and they know it. At the current production of ~10 million barrels per day they have at most 21 years left of oil. By that time, who cares anyways? They will have the investors money. Should keep them living high on the hog for another 10 years. Then the wheels come off. War? Perhaps. I don't know any better than you. Now forget all the China collapsing nonsense. China is going through a normal growing pain period but they are still growing at 5.8% per year. I see China soaking up all this cheap oil and cutting any excess. China says no more intervention but I doubt it. They really love to have 10% growth and they will get it in 2017. Now as far as war. Anyone's guess is as good or bad as mine. I don't think it will come to that. If it does then $150 WTI is not out of the question. The global economy can easily deal with $150 and even $200 but it would put downward pressure on the price again. That's the demand and supply system. And normally it works well. Except you have Saudi and OPEC. Well Saudi is OPEC but that is another matter. And they want to have a monopoly on oil. Greed. Excess. Greed. Luxury and decadence. Nothing else. Anyways to summarize, oil will briefly rise then fall back to support line then rise slowly starting in March/April. The damage done in the next cycle has already been done for the next 5 years. And once the refiners get back online they will send US pump prices back to $.90/gal. That will help the economy a lot and people will be buying more SUVs and trucks and that will suck up all the excess in the states. Where do I see WTI in: 1 year - $40+ 5 years- $100+ 10 years-$70+ 20 years-$250+ Don't forget that the Fed is behind the curve and ready to raise rates which normally cool the price further so they are back in a deflationary spin which has only one solution to: QE. And so begins the next game of who can print the most. The EU? China? Japan? The US/Canada has more than enough oil and gas to supply itself for the next 300 years but most of it is offshore and deep, which makes it costly to get. Ditto the North Sea. Once oil rises above $70 everyone will be happy. That is the balance. Consumers are happy. The producers are happy. Everybody is happy. $70 is the magic number. At some point, Saudi will be forced to accept that. If Hillary gets elected it will be a big loss for the middle class but a huge win for equities. She is of the tax and spend (and borrow and print) school. Ditto Sanders the Commie in sheep's clothes. I think if Trump gets elected it will be a big win for the working class but a hit to equities. He wants to cut our debt and get people working again which means less easy money for Wall Street. As much as I have loved the easy money from Helicopter Ben and Obama, I think the economy needs a period of organic growth, not more stimulus inflated growth. Call me *Stein* so you know to refer back to this post next year. |
Anonymous Coward User ID: 71225095 Ukraine 01/13/2016 10:53 AM Report Abusive Post Report Copyright Violation | |
Gelatinous Mass
User ID: 67046660 United States 01/13/2016 10:53 AM Report Abusive Post Report Copyright Violation | "If there is a war confronting Iran and Saudi Arabia, oil could overnight go to above $250, but decline [back] down to the $100 level,” said Askari. “If they attack each other’s loading facilities, then we could see oil spike to over $500 and stay around there for some time depending on the extent of the damage.” Quoting: Taskforce88 [link to oilprice.com] Hi, I'm a floor trader. Been working now for *many* years and I'm about to retire. But not because of oil or age, simply because of the stress. I'm just not cut out for this anymore. [... stuff deleted...] Interesting post and analysis. Seemingly well reasoned. I am curious why Russia was not folded into the analysis? Thanks for your insights. |
Anonymous Coward User ID: 1852290 United States 01/13/2016 11:10 AM Report Abusive Post Report Copyright Violation | "If there is a war confronting Iran and Saudi Arabia, oil could overnight go to above $250, but decline [back] down to the $100 level,” said Askari. “If they attack each other’s loading facilities, then we could see oil spike to over $500 and stay around there for some time depending on the extent of the damage.” Quoting: Taskforce88 [link to oilprice.com] Hi, I'm a floor trader. Been working now for *many* years and I'm about to retire. But not because of oil or age, simply because of the stress. I'm just not cut out for this anymore. My first post on GLP and I won't post again until my prediction comes true. So you better listen up. Ready? First the TA which anyone can do. Nothing secret here just basic TA. WTI has very strong support at $30. There is a <40% chance it will go below $29 and a ~15% chance it will go below $25. Set up for a short term bounce back to $37. Watch anything energy related follow it higher but only for a few days to a week at most. Then back to $30. Once that settles at $30 for 6-8 weeks it will slowly rise again. We will see a ton of volatility. Great for traders and brokers. Oil should settle around $40 for all of 2016 as the 20 yr energy super cycle comes to an end ****Barring any strange intervention from Saudi to cut production. I can't predict their sanity. Saudi wants to take Saudi Aramco public. It's a fire sale and it makes sense. No, actually it is there only viable option besides selling off their stock holdings in the US. They played a game of chicken with the N/A oil sands and wells and it is taking much longer than expected to flush them out. A lot of smaller players will get buried but now Saudi has cut so close to the bone for all OPEC members, Iran is getting ready to pull the trigger. Nigeria just called up and asked WTF is going on should we leave OPEC? They said wait another 12 months. Ha! Saudi might be able to hold out but others won't and can't. The irony is oil will super spike in 2018-2020. Saudi knows it takes between 18-24 months to get the wells up and running a profit so once oil goes back above $70 they are back online. There is no stopping this beast. Saudi may have won the battle but they are losing the war. Their fire sale is a clear indicator of this. I would stay clear of that IPO for several reasons, the least of which is the price of oil. Instead they will claim to have access to 270 billion barrels of Saudi sweet. They don't. Its a lie. They have less than 80 billion and they know it. At the current production of ~10 million barrels per day they have at most 21 years left of oil. By that time, who cares anyways? They will have the investors money. Should keep them living high on the hog for another 10 years. Then the wheels come off. War? Perhaps. I don't know any better than you. Now forget all the China collapsing nonsense. China is going through a normal growing pain period but they are still growing at 5.8% per year. I see China soaking up all this cheap oil and cutting any excess. China says no more intervention but I doubt it. They really love to have 10% growth and they will get it in 2017. Now as far as war. Anyone's guess is as good or bad as mine. I don't think it will come to that. If it does then $150 WTI is not out of the question. The global economy can easily deal with $150 and even $200 but it would put downward pressure on the price again. That's the demand and supply system. And normally it works well. Except you have Saudi and OPEC. Well Saudi is OPEC but that is another matter. And they want to have a monopoly on oil. Greed. Excess. Greed. Luxury and decadence. Nothing else. Anyways to summarize, oil will briefly rise then fall back to support line then rise slowly starting in March/April. The damage done in the next cycle has already been done for the next 5 years. And once the refiners get back online they will send US pump prices back to $.90/gal. That will help the economy a lot and people will be buying more SUVs and trucks and that will suck up all the excess in the states. Where do I see WTI in: 1 year - $40+ 5 years- $100+ 10 years-$70+ 20 years-$250+ Don't forget that the Fed is behind the curve and ready to raise rates which normally cool the price further so they are back in a deflationary spin which has only one solution to: QE. And so begins the next game of who can print the most. The EU? China? Japan? The US/Canada has more than enough oil and gas to supply itself for the next 300 years but most of it is offshore and deep, which makes it costly to get. Ditto the North Sea. Once oil rises above $70 everyone will be happy. That is the balance. Consumers are happy. The producers are happy. Everybody is happy. $70 is the magic number. At some point, Saudi will be forced to accept that. If Hillary gets elected it will be a big loss for the middle class but a huge win for equities. She is of the tax and spend (and borrow and print) school. Ditto Sanders the Commie in sheep's clothes. I think if Trump gets elected it will be a big win for the working class but a hit to equities. He wants to cut our debt and get people working again which means less easy money for Wall Street. As much as I have loved the easy money from Helicopter Ben and Obama, I think the economy needs a period of organic growth, not more stimulus inflated growth. Call me *Stein* so you know to refer back to this post next year. Hey Stein thanks for this summary! You bring a little sanity to the doomer and gloomer crew here. But one you forgot one major piece of the puzzle. Ethanol!! They will be forced to cut Ethanol over the next 2 years as maize prices increase! |
Anonymous Coward User ID: 71229678 United States 01/13/2016 11:15 AM Report Abusive Post Report Copyright Violation | "If there is a war confronting Iran and Saudi Arabia, oil could overnight go to above $250, but decline [back] down to the $100 level,” said Askari. “If they attack each other’s loading facilities, then we could see oil spike to over $500 and stay around there for some time depending on the extent of the damage.” Quoting: Taskforce88 [link to oilprice.com] Psychotic assholes will say ANYTHING to get their oil stocks to go back up.... We aren't falling for it, chumps. |
Anonymous Coward User ID: 1852290 United States 01/13/2016 11:21 AM Report Abusive Post Report Copyright Violation | "If there is a war confronting Iran and Saudi Arabia, oil could overnight go to above $250, but decline [back] down to the $100 level,” said Askari. “If they attack each other’s loading facilities, then we could see oil spike to over $500 and stay around there for some time depending on the extent of the damage.” Quoting: Taskforce88 [link to oilprice.com] Psychotic assholes will say ANYTHING to get their oil stocks to go back up.... We aren't falling for it, chumps. YOu are such a fucking loser you sit in your moms basement WISHING and PRAYING for DOOM every fucking day! Get a life asshole! This guy is giving his professional opinion which is better than your religtard doomsday loser opinion! FUCK OFF BITCH Personally I do not give 2 shits if you beleieve him or me since your buying one oil future won't do jack shit! LOMAO!!! |
Anonymous Coward User ID: 69179670 United States 01/13/2016 11:29 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 39518785 United States 01/13/2016 11:31 AM Report Abusive Post Report Copyright Violation | |
RedEye'
User ID: 60934990 Canada 01/13/2016 11:32 AM Report Abusive Post Report Copyright Violation | "If there is a war confronting Iran and Saudi Arabia, oil could overnight go to above $250, but decline [back] down to the $100 level,” said Askari. “If they attack each other’s loading facilities, then we could see oil spike to over $500 and stay around there for some time depending on the extent of the damage.” Quoting: Taskforce88 [link to oilprice.com] How so? Not One Step Backwards |
Anonymous Coward User ID: 71198339 United Kingdom 01/13/2016 11:34 AM Report Abusive Post Report Copyright Violation | "If there is a war confronting Iran and Saudi Arabia, oil could overnight go to above $250, but decline [back] down to the $100 level,” said Askari. “If they attack each other’s loading facilities, then we could see oil spike to over $500 and stay around there for some time depending on the extent of the damage.” Quoting: Taskforce88 [link to oilprice.com] I'll side with the Iranians fuck that oppressive regime of saudi arabia |
Anonymous Coward User ID: 39518785 United States 01/13/2016 11:35 AM Report Abusive Post Report Copyright Violation | "If there is a war confronting Iran and Saudi Arabia, oil could overnight go to above $250, but decline [back] down to the $100 level,” said Askari. “If they attack each other’s loading facilities, then we could see oil spike to over $500 and stay around there for some time depending on the extent of the damage.” Quoting: Taskforce88 [link to oilprice.com] How so? Iran doesn't want to damage Arabia's oil infrastructure. they want it intact, so they can have it after they conquer and subdue the Sunnis. . |
Anonymous Coward User ID: 70021559 United States 01/13/2016 11:42 AM Report Abusive Post Report Copyright Violation | "If there is a war confronting Iran and Saudi Arabia, oil could overnight go to above $250, but decline [back] down to the $100 level,” said Askari. “If they attack each other’s loading facilities, then we could see oil spike to over $500 and stay around there for some time depending on the extent of the damage.” Quoting: Taskforce88 [link to oilprice.com] How so? Iran doesn't want to damage Arabia's oil infrastructure. they want it intact, so they can have it after they conquer and subdue the Sunnis. . It's just a blog |
CE1
***** User ID: 71227468 United States 01/13/2016 12:09 PM Report Abusive Post Report Copyright Violation | "If there is a war confronting Iran and Saudi Arabia, oil could overnight go to above $250, but decline [back] down to the $100 level,” said Askari. “If they attack each other’s loading facilities, then we could see oil spike to over $500 and stay around there for some time depending on the extent of the damage.” Quoting: Taskforce88 [link to oilprice.com] Maybe 5.00 fAIL! |
Anonymous Coward User ID: 71088974 United States 01/13/2016 12:12 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 71232617 United States 01/13/2016 12:47 PM Report Abusive Post Report Copyright Violation | "If there is a war confronting Iran and Saudi Arabia, oil could overnight go to above $250, but decline [back] down to the $100 level,” said Askari. “If they attack each other’s loading facilities, then we could see oil spike to over $500 and stay around there for some time depending on the extent of the damage.” Quoting: Taskforce88 [link to oilprice.com] Hi, I'm a floor trader. Been working now for *many* years and I'm about to retire. But not because of oil or age, simply because of the stress. I'm just not cut out for this anymore. My first post on GLP and I won't post again until my prediction comes true. So you better listen up. Ready? First the TA which anyone can do. Nothing secret here just basic TA. WTI has very strong support at $30. There is a <40% chance it will go below $29 and a ~15% chance it will go below $25. Set up for a short term bounce back to $37. Watch anything energy related follow it higher but only for a few days to a week at most. Then back to $30. Once that settles at $30 for 6-8 weeks it will slowly rise again. We will see a ton of volatility. Great for traders and brokers. Oil should settle around $40 for all of 2016 as the 20 yr energy super cycle comes to an end ****Barring any strange intervention from Saudi to cut production. I can't predict their sanity. Saudi wants to take Saudi Aramco public. It's a fire sale and it makes sense. No, actually it is there only viable option besides selling off their stock holdings in the US. They played a game of chicken with the N/A oil sands and wells and it is taking much longer than expected to flush them out. A lot of smaller players will get buried but now Saudi has cut so close to the bone for all OPEC members, Iran is getting ready to pull the trigger. Nigeria just called up and asked WTF is going on should we leave OPEC? They said wait another 12 months. Ha! Saudi might be able to hold out but others won't and can't. The irony is oil will super spike in 2018-2020. Saudi knows it takes between 18-24 months to get the wells up and running a profit so once oil goes back above $70 they are back online. There is no stopping this beast. Saudi may have won the battle but they are losing the war. Their fire sale is a clear indicator of this. I would stay clear of that IPO for several reasons, the least of which is the price of oil. Instead they will claim to have access to 270 billion barrels of Saudi sweet. They don't. Its a lie. They have less than 80 billion and they know it. At the current production of ~10 million barrels per day they have at most 21 years left of oil. By that time, who cares anyways? They will have the investors money. Should keep them living high on the hog for another 10 years. Then the wheels come off. War? Perhaps. I don't know any better than you. Now forget all the China collapsing nonsense. China is going through a normal growing pain period but they are still growing at 5.8% per year. I see China soaking up all this cheap oil and cutting any excess. China says no more intervention but I doubt it. They really love to have 10% growth and they will get it in 2017. Now as far as war. Anyone's guess is as good or bad as mine. I don't think it will come to that. If it does then $150 WTI is not out of the question. The global economy can easily deal with $150 and even $200 but it would put downward pressure on the price again. That's the demand and supply system. And normally it works well. Except you have Saudi and OPEC. Well Saudi is OPEC but that is another matter. And they want to have a monopoly on oil. Greed. Excess. Greed. Luxury and decadence. Nothing else. Anyways to summarize, oil will briefly rise then fall back to support line then rise slowly starting in March/April. The damage done in the next cycle has already been done for the next 5 years. And once the refiners get back online they will send US pump prices back to $.90/gal. That will help the economy a lot and people will be buying more SUVs and trucks and that will suck up all the excess in the states. Where do I see WTI in: 1 year - $40+ 5 years- $100+ 10 years-$70+ 20 years-$250+ Don't forget that the Fed is behind the curve and ready to raise rates which normally cool the price further so they are back in a deflationary spin which has only one solution to: QE. And so begins the next game of who can print the most. The EU? China? Japan? The US/Canada has more than enough oil and gas to supply itself for the next 300 years but most of it is offshore and deep, which makes it costly to get. Ditto the North Sea. Once oil rises above $70 everyone will be happy. That is the balance. Consumers are happy. The producers are happy. Everybody is happy. $70 is the magic number. At some point, Saudi will be forced to accept that. If Hillary gets elected it will be a big loss for the middle class but a huge win for equities. She is of the tax and spend (and borrow and print) school. Ditto Sanders the Commie in sheep's clothes. I think if Trump gets elected it will be a big win for the working class but a hit to equities. He wants to cut our debt and get people working again which means less easy money for Wall Street. As much as I have loved the easy money from Helicopter Ben and Obama, I think the economy needs a period of organic growth, not more stimulus inflated growth. Call me *Stein* so you know to refer back to this post next year. "If Hillary gets elected it will be a big loss for the middle class but a huge win for equities. She is of the tax and spend (and borrow and print) school. Ditto Sanders the Commie in sheep's clothes. I think if Trump gets elected it will be a big win for the working class but a hit to equities. He wants to cut our debt and get people working again which means less easy money for Wall Street. As much as I have loved the easy money from Helicopter Ben and Obama, I think the economy needs a period of organic growth, not more stimulus inflated growth. " Thanks for that perspective. I agree oil is going to be sitting here for a while but then it will once again be well over $50pbb in a year. Lots of cheap buys right now if you know where to look. Offshore rigs are the biggest bet out there. They could 4x overnight on a Iranian/Saudi war. |