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Joined: Jan 2005
Posts: 22,884
Campfire Ranger
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Campfire Ranger
Joined: Jan 2005
Posts: 22,884 |
There is an oil glut because of two things:
1) The world realized that there truly is an oil glut. There is oil seemingly everywhere. It can be found and drilled with ease all over the globe. Only regulations are holding back the sense of an overwhelming supply of oil. This runs contrary to the fearmongering of the past 50 years based on the foolishness of "peak oil." That fear was priced into the market (and world events especially the Middle East) ever since WWII. That narrative is now dead, at least for a few centuries.
2) Countries dependent upon oil for their economy, influence, and social standing in the world have to flood the market with more and cheaper oil in an attempt to maintain some sense of their status and to continue generating revenues to which they have grown accustomed and to try to flood more expensive producers out of business (Venezuela, Russia, Saudi Arabia, OPEC, Middle Eastern wannabees). This is a losing proposition, a game of global energy chicken.
Cheap oil is here to stay, other than through political maneuvering. Those politics might be very volatile, but in the end are a losers game since oil is now know to be so plentiful. It's just a matter of getting it out of the ground when desired.
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Joined: Feb 2013
Posts: 21,875 Likes: 10
Campfire Ranger
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Campfire Ranger
Joined: Feb 2013
Posts: 21,875 Likes: 10 |
Time to get the CORN out of oil. BINGO!
If you are not actively engaging EVERY enemy you encounter... you are allowing another to fight for you... and that is cowardice... plain and simple.
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Joined: Jan 2005
Posts: 57,494
Campfire Kahuna
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Campfire Kahuna
Joined: Jan 2005
Posts: 57,494 |
There is an oil glut because of two things:
1) The world realized that there truly is an oil glut. There is oil seemingly everywhere. It can be found and drilled with ease all over the globe. Only regulations are holding back the sense of an overwhelming supply of oil. This runs contrary to the fearmongering of the past 50 years based on the foolishness of "peak oil." That fear was priced into the market (and world events especially the Middle East) ever since WWII. That narrative is now dead, at least for a few centuries.
2) Countries dependent upon oil for their economy, influence, and social standing in the world have to flood the market with more and cheaper oil in an attempt to maintain some sense of their status and to continue generating revenues to which they have grown accustomed and to try to flood more expensive producers out of business (Venezuela, Russia, Saudi Arabia, OPEC, Middle Eastern wannabees). This is a losing proposition, a game of global energy chicken.
Cheap oil is here to stay, other than through political maneuvering. Those politics might be very volatile, but in the end are a losers game since oil is now know to be so plentiful. It's just a matter of getting it out of the ground when desired.
Cheap oil is here to stay. In history there are lessons. You will be wrong. No doubt. No clue when, but you will be wrong.
We can keep Larry Root and all his idiotic blabber and user names on here, but we can't get Ralph back..... Whiskey Tango Foxtrot, over....
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Joined: Dec 2006
Posts: 28,172
Campfire Ranger
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Campfire Ranger
Joined: Dec 2006
Posts: 28,172 |
I remember pumping gas at 19.9c/gallon! There was glut then also. I remember the gas station price wars of the later 1960s when gas sold for $0.14/gallon. It was stable for many years at $0.26 to $0.32 per gallon. This glut might have something to do with destroying ISIS. Oil is their only significant source of cash. I'm all for using up the rest of the world's oil and saving ours. I realize it doesn't sit well with the oil companies and workers here, but it seems a good strategy on face value.
Hunt with Class and Classics
Religion: A founder of The Church of Spray and Pray
Acquit v. t. To render a judgment in a murder case in San Francisco... EQUAL, adj. As bad as something else. Ambrose Bierce “The Devil's Dictionary”
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Joined: Nov 2002
Posts: 33,758 Likes: 7
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,758 Likes: 7 |
I am so happy to be out of it. If I were in I would be one handing out the pink slips and early retirements. I have done it before and and more than pleased to be an observer this go around.
Conduct is the best proof of character.
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Joined: Nov 2002
Posts: 33,758 Likes: 7
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,758 Likes: 7 |
I'm sure oil will make a spectacular rebound when people least expect it. Otherwise, if you think you know when it's going to come back, place your bets and get rich. Though now retired, I ain't selling my company provided Shell stock. It grosses me $2.5k a month on dividend alone with three more years ahead to receive the balance of what is due. Nope, I am sitting tight with that piece of my portfolio.
Conduct is the best proof of character.
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Joined: Nov 2002
Posts: 33,758 Likes: 7
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,758 Likes: 7 |
There is an oil glut because of two things:
1) The world realized that there truly is an oil glut. There is oil seemingly everywhere. It can be found and drilled with ease all over the globe. Only regulations are holding back the sense of an overwhelming supply of oil. This runs contrary to the fearmongering of the past 50 years based on the foolishness of "peak oil." That fear was priced into the market (and world events especially the Middle East) ever since WWII. That narrative is now dead, at least for a few centuries.
2) Countries dependent upon oil for their economy, influence, and social standing in the world have to flood the market with more and cheaper oil in an attempt to maintain some sense of their status and to continue generating revenues to which they have grown accustomed and to try to flood more expensive producers out of business (Venezuela, Russia, Saudi Arabia, OPEC, Middle Eastern wannabees). This is a losing proposition, a game of global energy chicken.
Cheap oil is here to stay, other than through political maneuvering. Those politics might be very volatile, but in the end are a losers game since oil is now know to be so plentiful. It's just a matter of getting it out of the ground when desired.
Interesting that many here always blamed high oil prices on the "speculators"...
Conduct is the best proof of character.
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Joined: Nov 2002
Posts: 33,758 Likes: 7
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,758 Likes: 7 |
There is an oil glut because of two things:
1) The world realized that there truly is an oil glut. There is oil seemingly everywhere. It can be found and drilled with ease all over the globe. Only regulations are holding back the sense of an overwhelming supply of oil. This runs contrary to the fearmongering of the past 50 years based on the foolishness of "peak oil." That fear was priced into the market (and world events especially the Middle East) ever since WWII. That narrative is now dead, at least for a few centuries.
2) Countries dependent upon oil for their economy, influence, and social standing in the world have to flood the market with more and cheaper oil in an attempt to maintain some sense of their status and to continue generating revenues to which they have grown accustomed and to try to flood more expensive producers out of business (Venezuela, Russia, Saudi Arabia, OPEC, Middle Eastern wannabees). This is a losing proposition, a game of global energy chicken.
Cheap oil is here to stay, other than through political maneuvering. Those politics might be very volatile, but in the end are a losers game since oil is now know to be so plentiful. It's just a matter of getting it out of the ground when desired.
Cheap oil is here to stay. In history there are lessons. You will be wrong. No doubt. No clue when, but you will be wrong. Absolutely wrong.
Conduct is the best proof of character.
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Joined: Mar 2013
Posts: 27,091
Campfire Ranger
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Campfire Ranger
Joined: Mar 2013
Posts: 27,091 |
They were using the corn to kill the older engines so people will buy new cars.
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Joined: Dec 2012
Posts: 7,693
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2012
Posts: 7,693 |
Time to get the CORN out of oil. i would truly love that!
if a man speaks, and there isn't a woman around to hear him, is he still wrong?
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Joined: Feb 2013
Posts: 2,537
Campfire Regular
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Campfire Regular
Joined: Feb 2013
Posts: 2,537 |
of course there is an oil glut..... i bought stock in oil producer.
if you guy's want to get rich just ask me what i investing in and go the other way. I have a close cousin like you , he makes an excellent barometer on what NOT to invest in. His personal bests were Enron and World Com........
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Joined: Dec 2003
Posts: 17,232 Likes: 2
Campfire Ranger
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Campfire Ranger
Joined: Dec 2003
Posts: 17,232 Likes: 2 |
Time to get the CORN out of oil. BINGO! Never happen in an election year. That corn is a giant tax subsidy to big agriculture! Sycamore
...Actually Sycamore, you are sort of right....
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Joined: Dec 2003
Posts: 4,397
Campfire Tracker
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Campfire Tracker
Joined: Dec 2003
Posts: 4,397 |
I'm all for using up the rest of the world's oil and saving ours.
Who is this "ours" you are talking about?
and what does the Lord require of you but to do justice, and to love kindness, and to walk humbly with your God? (Micah 6:8) d.v. Musings on TDS
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Joined: Jan 2010
Posts: 32,130 Likes: 1
Campfire 'Bwana
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Campfire 'Bwana
Joined: Jan 2010
Posts: 32,130 Likes: 1 |
Time to get the CORN out of oil. BINGO! SH aside, I couldn't agree more.
If you put Taco Bell sauce in your ramen noodles it tastes just like poverty
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Joined: Jan 2005
Posts: 57,494
Campfire Kahuna
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Campfire Kahuna
Joined: Jan 2005
Posts: 57,494 |
There is an oil glut because of two things:
1) The world realized that there truly is an oil glut. There is oil seemingly everywhere. It can be found and drilled with ease all over the globe. Only regulations are holding back the sense of an overwhelming supply of oil. This runs contrary to the fearmongering of the past 50 years based on the foolishness of "peak oil." That fear was priced into the market (and world events especially the Middle East) ever since WWII. That narrative is now dead, at least for a few centuries.
2) Countries dependent upon oil for their economy, influence, and social standing in the world have to flood the market with more and cheaper oil in an attempt to maintain some sense of their status and to continue generating revenues to which they have grown accustomed and to try to flood more expensive producers out of business (Venezuela, Russia, Saudi Arabia, OPEC, Middle Eastern wannabees). This is a losing proposition, a game of global energy chicken.
Cheap oil is here to stay, other than through political maneuvering. Those politics might be very volatile, but in the end are a losers game since oil is now know to be so plentiful. It's just a matter of getting it out of the ground when desired.
Cheap oil is here to stay. In history there are lessons. You will be wrong. No doubt. No clue when, but you will be wrong. Absolutely wrong. Yep, the idea that gas will go to 1.00 a gallon and then stay there indefinitely sure shows that some folks don't wake up when they get up.
We can keep Larry Root and all his idiotic blabber and user names on here, but we can't get Ralph back..... Whiskey Tango Foxtrot, over....
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Joined: Sep 2004
Posts: 29,383
Campfire Ranger
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Campfire Ranger
Joined: Sep 2004
Posts: 29,383 |
Time to get the CORN out of oil. +1
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Joined: May 2005
Posts: 62
Campfire Greenhorn
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Campfire Greenhorn
Joined: May 2005
Posts: 62 |
of course there is an oil glut..... i bought stock in oil producer.
if you guy's want to get rich just ask me what i investing in and go the other way. I called my broker after seeing my energy stocks swirling in the drain. He talked me into buying more.
Last edited by Wingsandthings; 07/18/16.
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Joined: Nov 2002
Posts: 33,758 Likes: 7
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,758 Likes: 7 |
There is an oil glut because of two things:
1) The world realized that there truly is an oil glut. There is oil seemingly everywhere. It can be found and drilled with ease all over the globe. Only regulations are holding back the sense of an overwhelming supply of oil. This runs contrary to the fearmongering of the past 50 years based on the foolishness of "peak oil." That fear was priced into the market (and world events especially the Middle East) ever since WWII. That narrative is now dead, at least for a few centuries.
2) Countries dependent upon oil for their economy, influence, and social standing in the world have to flood the market with more and cheaper oil in an attempt to maintain some sense of their status and to continue generating revenues to which they have grown accustomed and to try to flood more expensive producers out of business (Venezuela, Russia, Saudi Arabia, OPEC, Middle Eastern wannabees). This is a losing proposition, a game of global energy chicken.
Cheap oil is here to stay, other than through political maneuvering. Those politics might be very volatile, but in the end are a losers game since oil is now know to be so plentiful. It's just a matter of getting it out of the ground when desired.
Cheap oil is here to stay. In history there are lessons. You will be wrong. No doubt. No clue when, but you will be wrong. Absolutely wrong. Yep, the idea that gas will go to 1.00 a gallon and then stay there indefinitely sure shows that some folks don't wake up when they get up. Too funny.
Conduct is the best proof of character.
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Joined: Nov 2011
Posts: 31,069 Likes: 4
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2011
Posts: 31,069 Likes: 4 |
Inflation adjusted price of oil since the Civil War. ![[Linked Image]](https://www.globalfinancialdata.com/Databases/Graphs/OilPriceInflationAdjusted.png)
You didn't use logic or reason to get into this opinion, I cannot use logic or reason to get you out of it.
You cannot over estimate the unimportance of nearly everything. John Maxwell
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Joined: Dec 2002
Posts: 22,274
Campfire Ranger
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Campfire Ranger
Joined: Dec 2002
Posts: 22,274 |
Ed, what sort of price targets are you hearing at year end?
"...the designer of the .270 Ingwe cartridge!..."
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