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(CNN)   Analysts show how oil prices may sink to $50/barrel within the next two years. DAMN YOU OBAMA   (money.cnn.com) divider line 83
    More: Spiffy, United States, Economic Calendar, West Texas Intermediate, equity research, Merrill Lynch  
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5177 clicks; posted to Main » on 12 Dec 2012 at 10:46 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-12-12 09:51:43 AM
That's what happens when you kill an economy.
 
2012-12-12 09:56:42 AM
And gas prices will remain above $2.50/gallon.
 
2012-12-12 10:26:49 AM
1.bp.blogspot.com
 
2012-12-12 10:34:25 AM
The drop in U.S. oil prices would likely be temporary, caused by the difficulty in moving huge amounts of new oil from places like North Dakota's Bakken shale or Texas' Eagle Ford to market

I.e., they're going to export our frigging oil overseas to make more money. Which is why they want the Keystone XL pipeline, since that oil will leave the country tax free.

So much for energy independence, boys!
 
2012-12-12 10:49:32 AM
i.imgur.com
 
2012-12-12 10:49:50 AM
FTFA: (sentence #1)

"But don't expect a corresponding drop in gas prices."
 
2012-12-12 10:49:53 AM
well thats the thing about the word "may"
 
2012-12-12 10:50:49 AM
Time to heat up the rhetoric with Iran and Syria. There's nothing like creating outrage among the scruffy-bearded set to drive up the price of oil.
 
2012-12-12 10:51:58 AM
fuk yea goin svu shoping
 
2012-12-12 10:52:15 AM
Bank of America wants you to sell your stock!!!

then yank the rug from under you!! "oh we said it MAY drop" " our bad"!!
 
2012-12-12 10:52:33 AM
Might I suggest subby go back and actually RTFA?
 
2012-12-12 10:52:53 AM
Drill baby, drill appears to be working.
 
2012-12-12 10:53:53 AM

david_gaithersburg: Drill baby, drill appears to be working.


Actually it's more because of the fact that refineries out west aren't spontaneously combusting like they were earlier this year.
 
2012-12-12 10:53:55 AM
aren't you going to blame Bush for this??
 
2012-12-12 10:54:03 AM

jehovahs witness protection: That's what happens when you kill an economy.


This is how you troll. This should be framed.
 
2012-12-12 10:56:01 AM
My understanding of the economics of oil production, trade, distribution, refining, and retail sale can fit on a bumper sticker, AND I VOTE!
 
2012-12-12 10:56:48 AM
Well at least you'll be able to afford to drive to the store to buy your 25$ a pound steak and your 10$ loaf of bread.
So there is that...
 
2012-12-12 10:57:04 AM
Oil/Gas Prices drop: B-Rock, the Islamic Shock tanked the economy
Oil/Gas Prices rise: Super Allah Obama is siphoning money from your gas tank

How many people know how OPEC works?
 
2012-12-12 10:57:05 AM

Mrtraveler01: david_gaithersburg: Drill baby, drill appears to be working.

Actually it's more because of the fact that refineries out west aren't spontaneously combusting like they were earlier this year.


.
Fark, where actually reading articles is never considered.
 
2012-12-12 10:57:14 AM
Merrill analysts expect U.S. oil prices to still average about $90 a barrel over the same time period. Global oil prices meanwhile, which more closely dictate the price of gasoline in the United States, are expected to remain high as growth in global oil supplies lags population growth and economic output.

The drop in U.S. oil prices would likely be temporary, caused by the difficulty in moving huge amounts of new oil from places like North Dakota's Bakken shale or Texas' Eagle Ford to market. Already, all the new production has led to a glut of oil in the region.


How does that play in the commodities market? Can you buy American oil at 50 bucks a barrel and then sit on it until it reaches parity again?
 
2012-12-12 10:58:16 AM
Crushing the electric car industry, one of the world biggest threats to big oil. After 5 years, watch the price of oil sky rocket again after car manufactures are allowed to mass produce giant SUV's again and R&D into battery power sources for electric have been put on hold or cancelled....

Yes, I know it sounds stupid. But if you're an investor or the CEO of a big company and you're looking at the long term, what would you do if you had the money and power?

.
..
I'm paranoid. But am I paranoid enough?
 
2012-12-12 10:59:08 AM
Maybe it's time to start looking at natural gas to go large scale for automotive use.

Though at this point in history any innovations that actually save the end consumer money are seen as unprofitable for corporations to take on so I won't be holding my breath.
"You mean we have to upgrade all our stations and put in an all new pump and distribution system and we'll be charging them LESS? You're fired!"
 
2012-12-12 11:00:44 AM

dickkead: FTFA: (sentence #1)

"But don't expect a corresponding drop in gas prices."


Well yeah but the oil companies are barely scraping by as it is.
 
2012-12-12 11:03:26 AM
Now maybe Fartbongo will bring back my trashcans that he stole.

DAMN YOU, FARTBONGO!!!
 
2012-12-12 11:04:03 AM

david_gaithersburg: Drill Frak baby, drill Frak appears to be working.



FTFY
 
2012-12-12 11:04:16 AM
Once upon a time, OPEC wanted prices to stay between $22 and $28.
 
2012-12-12 11:04:50 AM
FTA: But don't expect a corresponding drop in gas prices.

Hook-ed on p-honics work-ed for ME!
 
2012-12-12 11:05:05 AM

indarwinsshadow: Crushing the electric car industry, one of the world biggest threats to big oil. After 5 years, watch the price of oil sky rocket again after car manufactures are allowed to mass produce giant SUV's again and R&D into battery power sources for electric have been put on hold or cancelled....

Yes, I know it sounds stupid. But if you're an investor or the CEO of a big company and you're looking at the long term, what would you do if you had the money and power?

.
..
I'm paranoid. But am I paranoid enough?


Nope. Energy companies will eventually create ship sized special diesel generators to supplement the sudden substantially increased electrical demand.

/the ciiiiiiiiiiiircle, the ciiiiiircle of liiiiiiiife....
 
2012-12-12 11:07:16 AM

Shostie: And gas prices will remain above $2.50$3.50/gallon.


Corrected for truth, we will never see below $3.00 a gallon again.
 
2012-12-12 11:07:32 AM

indarwinsshadow: Crushing the electric car industry, one of the world biggest threats to big oil. After 5 years, watch the price of oil sky rocket again after car manufactures are allowed to mass produce giant SUV's again and R&D into battery power sources for electric have been put on hold or cancelled....

Yes, I know it sounds stupid. But if you're an investor or the CEO of a big company and you're looking at the long term, what would you do if you had the money and power?

.
..
I'm paranoid. But am I paranoid enough?


I doubt most CEOs are looking that long term.

Vacillation in oil prices is bound to happen. Price goes up, we look for new sources and try to cut demand, prices drop, so people use more until we're short driving the prices up again. It could be a conspiracy but it's probably just an affect of people following the crowd.
 
2012-12-12 11:08:11 AM

you have pee hands: affect


Or an effect, even.
 
2012-12-12 11:08:51 AM

Bag of Hammers: david_gaithersburg: Drill Frak baby, drill Frak appears to be working.


FTFY


Frak baby, frak?

Well, it certainly does seem to be working; Earth is pretty overpopulated.

Bring on the Cylo...

Oh. The other frak.

/slinks away disappointed
//oil is a giant scam
///slashies!
 
2012-12-12 11:10:03 AM
img.photobucket.com
 
2012-12-12 11:10:04 AM

Land Ark: Maybe it's time to start looking at natural gas to go large scale for automotive use.

Though at this point in history any innovations that actually save the end consumer money are seen as unprofitable for corporations to take on so I won't be holding my breath.
"You mean we have to upgrade all our stations and put in an all new pump and distribution system and we'll be charging them LESS? You're fired!"


Put down the crack pipe and step away from the keyboard
 
2012-12-12 11:10:40 AM
Am I the only one who read anything below the headline?
 
2012-12-12 11:12:15 AM
FTFA: "Continued high prices and low yields on bonds, plus the successful resolution of the so-called fiscal cliff and an improving outlook in Europe, means money should pour into stocks."

They left out rainbows & unicorns. Good thing the US isn't going to raise taxes on investment income in 2013.
 
2012-12-12 11:13:13 AM

duffblue: Land Ark: Maybe it's time to start looking at natural gas to go large scale for automotive use.

Though at this point in history any innovations that actually save the end consumer money are seen as unprofitable for corporations to take on so I won't be holding my breath.
"You mean we have to upgrade all our stations and put in an all new pump and distribution system and we'll be charging them LESS? You're fired!"

Put down the crack pipe and step away from the keyboard


While you make many valid points, your agrument fails to sway my opinion another way.
 
2012-12-12 11:13:53 AM
Doesn't change a thing. God still ain't making any more of it.
 
2012-12-12 11:14:43 AM

david_gaithersburg: Drill baby, drill appears to be working.


Um, no. Please read TFA, which says the following:

1. $50/barrel is temporary.
2. $50/barrel is regional to Oklahoma, because of insufficient distribution from this particular point.
3. $50/barrel is below the cost of production.
4. No corresponding reduction in gas prices is predicted.
5. Oil produced elsewhere and overseas will remain above $90/barrel.

In light of these facts, please explain your statement.

\Oh, wait. You can't, because you're nothing but an dimwitted troll.
 
2012-12-12 11:17:44 AM
what I got from the article

Oil reserves are quickly building due to lack of demand
Oil costs more than 50$ bbl to extract now
Gas could cost less but, nobody is going to allow that!
Solution: Export excess to countries willing to pay more

Thus avoiding the punishment of poor business practices of regulating supply and demand in manufacturing to ensure a stabil profit margin from your product after artificially inflate the prices by screaming "OIL SHORTAGE" for the past several years...

does anyone remember the whole "Peak Oil" rager wall street had not long ago that inflated oil prices? Back when they should have been 50-55$bbl?

Need my coffee... left cup at home.
 
2012-12-12 11:19:44 AM

indarwinsshadow: Yes, I know it sounds stupid. But if you're an investor or the CEO of a big company and you're looking at the long term, what would you do if you had the money and power?


I would... oh, crap. Looks like Elon Musk beat me to it.

Long term, energy costs more, and you throw your money at alternatives and efficiency gains. A company not doing this sort of prep work has a short-term or (at best) a medium-term outlook.

And honestly, it's not even a hard choice anymore. We threw up solar panels, and are gradually making our way down the efficient gasoline->hybrid->plugin->electric car tree. The house no longer needs power, and 30% of our driving runs on the freaking sun. Our break-even point on the investment is less than three years away. The warranty will have 19 years left. By the time the fan and shiat intersect, I won't have any direct personal need for any sort of commodity energy source. And the companies I rely on to use energy on my behalf, like UPS, are working their asses off to test more efficient delivery trucks and routing algorithms at the same time manufacturers like GE are bringing offshored production of things like water heaters back to the US because we've already crossed the threshold where US Labor + Local Shipping Cost is less than Chinese Labor + Overseas Shipping Cost.

Unless you make and sell legacy energy products, or have only short-term profits in mind, you're throwing money into reducing your dependence on the one ingredient every company has to use: commodity energy sources whose price you can't control. Because in the long term, it's not getting cheaper, even if it manages to briefly in the short term.
 
2012-12-12 11:20:56 AM

tricycleracer: fuk yea goin svu shoping


You said rape twice.
 
2012-12-12 11:21:28 AM
The Eagle Ford oil is already making its way to market, they just built a huge pipeline from the oil fields to the Houston refineries. It's crazy out there, the economy is booming, people are making money hand over fist.
The inevitable bust will show up just like it has before.
 
2012-12-12 11:22:42 AM
Hey! We've got tons of cheap oil that we could use to power our dickmobiles and iDildos! But instead of using that oil we'll ship it willy nilly all over the freaking place and IMPORT oil from the world's multiple far flung anuses at a ridiculous premium using up even more resources in the process! It's genius!

tl;dr

Nice racket you got there.
 
2012-12-12 11:28:57 AM
Analysts wishful thinkers show how oil prices may sink to $50/barrel within the next two years.

Anyone taking bets on this?
 
2012-12-12 11:29:25 AM
Obama chooms internal engine tailpipes

/yes, that has a second meaning
 
2012-12-12 11:33:19 AM

CheekyMonkey: 1. $50/barrel is temporary.
2. $50/barrel is regional to Oklahoma, because of insufficient distribution from this particular point.


Luckily, despite a few temporary setbacks, construction of the southern half of the Keystone XL pipeline is well underway. Once it's up and running the Oklahoma oversupply problem will be solved, whether or not the northern section from Canada is ever completed.
 
2012-12-12 11:35:31 AM

here to help: Hey! We've got tons of cheap oil that we could use to power our dickmobiles and iDildos! But instead of using that oil we'll ship it willy nilly all over the freaking place and IMPORT oil from the world's multiple far flung anuses at a ridiculous premium using up even more resources in the process! It's genius!

tl;dr

Nice racket you got there.


Go ahead try to exist only on your own oil, you'll be begging to receive our frothy goodness again in a week.

/Canadian
//Albertan
///Suck it, suck it long, suck it hard.
////DON'T LOOK AT ME!
 
2012-12-12 11:35:40 AM
I read an article that the price of gas was driven more by commodoties trading and speculation than by the actual price of oil per barrel. I can't remember where I read it, but it essentially argued that it's market specualtion that keeps gas prices high and has nothing to do with the actual cost.

Does anybody know what I'm talking about?
 
2012-12-12 11:37:32 AM
Hey wait just a minute here now...we have been promised $5/gallon gas for years now...how the hell are we supposed to get $5 gas if the cost of oil goes down?
 
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