You’ll never see $70 oil again.

[Pablo]

USA, Canada, UK, etc......... got a disease. I mean the intent started as something really really good. Things we all should be behind.

Then it turned.

 

[slo town]

USA, Canada, UK, etc......... got a disease. I mean the intent started as something really really good. Things we all should be behind.

Then it turned.

Many, many reasons but the biggest one IMO is that people got lazy and blamed others for their stagnation.

Scott

 

[IndyFan]

This is about oil price. Let's back off on the politics. Sound good GON?

Sounds good, but oil prices are massively influenced by politics. No denying that.

Here is some good news, for most folks outside of the die hard anti-fossil fuel Greenland is hot crowd.....Oil is within spitting distance of $70 right now.

I think it will slowly either stabilize or get even better. Here is my take on it all......The Gulf countries are going to find a way to bypass the Strait of Hormuz. They don´t want to get strangled again. OPEC is effectively destroyed, thanks to Venezuela pulling out of it and high production from the US and others. Gulf countries will be pumping away HARD once they can move it. They have been starved of revenue, so they have ground to make up and they don´t care about the price of oil....only the revenue they BADLY need. They´ve been pumping like wild and filling up their storage. So all that is going to be released ASAP, along with max production, which will increase as they repair infrastructure.

So here´s my prediction, which is worth about 2 cents. I think oil is going to plunge. I´m saying $50, but I would not be surprised if it goes lower. I don´t know when....that´s the big question. But it will happen.

Btw, the US will come up with a way to deal with the cheap drones. You can bet that is a very very high priority for the Pentagon. And those cool little drone boats in our drone fleet....they will deal with the mine-planting speed boats. Iran won´t be able to continue the threat for long.

 

[Pablo]

Many, many reasons but the biggest one IMO is that people got lazy and blamed others for their stagnation.

Scott

BLAME! Yes. You are given advantage and you still blame others. Ugg humans, all humans....ugg I like dogs.

 

[GON]

This is about oil price. Let's back off on the politics. Sound good GON?

Your entire premise for starting this thread was political at its root. I am dumb, but I didn't just fall off the banana boat yesterday.

 

[SC Maintenance]

BLAME! Yes. You are given advantage and you still blame others. Ugg humans, all humans....ugg I like dogs.

Now your insulting dogs?

Dogs do not eat there own
Dogs have no malice.
Dogs are 100% loyal.

Dogs are superior to humans in every way except apposable thumbs.

 

[Snagglefoot]

BLAME! Yes. You are given advantage and you still blame others. Ugg humans, all humans....ugg I like dogs.

No problem. AI will take care of pesky humans.

 

[Pablo]

Your entire premise for starting this thread was political at its root. I am dumb, but I didn't just fall off the banana boat yesterday.

Turnip truck.

 

[SC Maintenance]

Sounds good, but oil prices are massively influenced by politics. No denying that.

Here is some good news, for most folks outside of the die hard anti-fossil fuel Greenland is hot crowd.....Oil is within spitting distance of $70 right now.

I think it will slowly either stabilize or get even better. Here is my take on it all......The Gulf countries are going to find a way to bypass the Strait of Hormuz. They don´t want to get strangled again. OPEC is effectively destroyed, thanks to Venezuela pulling out of it and high production from the US and others. Gulf countries will be pumping away HARD once they can move it. They have been starved of revenue, so they have ground to make up and they don´t care about the price of oil....only the revenue they BADLY need. They´ve been pumping like wild and filling up their storage. So all that is going to be released ASAP, along with max production, which will increase as they repair infrastructure.

So here´s my prediction, which is worth about 2 cents. I think oil is going to plunge. I´m saying $50, but I would not be surprised if it goes lower. I don´t know when....that´s the big question. But it will happen.

Btw, the US will come up with a way to deal with the cheap drones. You can bet that is a very very high priority for the Pentagon. And those cool little drone boats in our drone fleet....they will deal with the mine-planting speed boats. Iran won´t be able to continue the threat for long.

Predictions without a timeline are worthless. Its like the premise of this thread.

Those that live long enough might see oil at $200 or $30. Just can't say when.

In the current regime there was never a shortage of oil, just a shortage of ways to transport and refine it.

 

[gfh77665]

I’ll go out on a limb and counter the idea that “ things will get back to normal”. The US oil industry will not go back and drill for $70 oil. Harold Hamm set the tone when Continental stopped drilling for $60 oil in North Dakota earlier this year.

I will say I was wrong if it goes back, but let’s see.

Almost back to $70 now...

 

[Snagglefoot]

Almost back to $70 now...

Haha. It ain't over 'till its over.