A few weeks ago I thought the bottom for a barrel of oil would be $40. With the oversupply some wells would be dropped from production and then the surplus would get eaten up in the summer pushing prices back above $60 a barrel this year and then maybe back over $80 next year. But with the new Saudi King determined to not lose market share and not slowing production then the oversupply will continue maybe through the summer and prices could drop to $35 or even $30 a barrel. Of course at some price point the tar sands in Canada will be losing too much money to continue producing. Most of the fringe oil producers need prices to be around $80 a barrel to be profitable.
So oil is at about $45 a barrel now anyone out there see a bottom for oil prices and why? Looks like we are getting close to a buy time for energy stocks.
The drop in oil prices is because we're slowly moving away from using fossil fuels.
Oil was about the same price as it is now back in 2008, so I don't think that is solely responsible. It probably has more to do with the poor economy in the past few years, which resulted in an increased need for efficiency. Now we might have more supply than we need, partly because of the increased efficiency, partly because we've started collecting oil within the country, and partly because of global wars and now we have cut enemies off from using allied oil supplies. Too many reasons to describe it simply. Just be glad that it's cheap.
I'm in Western New York, and we have some of the highest gas prices in the United States. It might only be $2.59 a gallon compared to $5 a few years back, but it still costs me $50 to fill up my tank.
By the way, I'm getting low on gas, so can we have the prices bottom out for a day?
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And who are you, the proud lord said, that I must bow so low?
Only a cat of a different coat, that's all the truth I know.
In a coat of gold or a coat of red, a lion still has claws,
And mine are long and sharp, my lord, as long and sharp as yours.
And so he spoke, and so he spoke, that lord of Castamere,
But now the rains weep o'er his hall, with no one there to hear.
Yes now the rains weep o'er his hall, and not a soul to hear.
I'm no economist, but the amount of money being put back into consumer's pockets from paying less for energy may actually cause some economic benefits; if consumers spend that money.
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I'm on a bit of a hiatus from playing Minecraft, so I'm not so active in this forum, either. I still check it though, and participate in a few discussions.
Yea lower gas prices at the pump are likely to most benefit the poorest americans. I'm looking to buy energy stocks. Oil related stocks not nuclear plant companies. Many of the stocks I like are already down 15% to 25% over the past 6 months and was thinking from this point and possible over the next couple of months there would be a good time to pull the trigger and invest.
At the gas stations here in my town in BC it is currently 94 cents/L (went up 4 cents the other day) but if you want to go 30 minutes out of your way to Costco and wait in the extra long lineups, then it's 87 cents/L.
So oil is at about $45 a barrel now anyone out there see a bottom for oil prices and why? Looks like we are getting close to a buy time for energy stocks.
https://www.youtube.com/user/IAMBaldur/feed
Oil was about the same price as it is now back in 2008, so I don't think that is solely responsible. It probably has more to do with the poor economy in the past few years, which resulted in an increased need for efficiency. Now we might have more supply than we need, partly because of the increased efficiency, partly because we've started collecting oil within the country, and partly because of global wars and now we have cut enemies off from using allied oil supplies. Too many reasons to describe it simply. Just be glad that it's cheap.
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Omg in Ireland its like €2 something. Ireland is expensive :/
- C.C.
By the way, I'm getting low on gas, so can we have the prices bottom out for a day?
And who are you, the proud lord said, that I must bow so low?
Only a cat of a different coat, that's all the truth I know.
In a coat of gold or a coat of red, a lion still has claws,
And mine are long and sharp, my lord, as long and sharp as yours.
And so he spoke, and so he spoke, that lord of Castamere,
But now the rains weep o'er his hall, with no one there to hear.
Yes now the rains weep o'er his hall, and not a soul to hear.
https://www.youtube.com/user/IAMBaldur/feed
https://www.youtube.com/user/IAMBaldur/feed
Monoblocks and Vehicular Movement: The greatest additions to a modern Minecraft city. Grab them here: http://www.minecraftforum.net/forums/mapping-and-modding/minecraft-mods/2236322-goldensilver853s-mod-hub
You are now breathing manually.