tag:blogger.com,1999:blog-6522376676055666486.post8838623744929203033..comments2023-11-02T06:36:05.561-07:00Comments on Ghawar Guzzler: US Oil Inventories Up 20%Bloggin' Brewskiehttp://www.blogger.com/profile/06117891792945288480noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-6522376676055666486.post-63661189889622351152009-08-13T12:17:08.040-07:002009-08-13T12:17:08.040-07:00Benjamin "Beano,"
How long can one nix ...Benjamin "Beano,"<br /><br />How long can one nix the gravity of supply and demand?<br /><br />Anaconda,<br /><br />Surprising to hear you don't want to see prices collapse. Actually, I've taken the price increase in stride to see the positive: it spurns people's interest in developing advanced energy technologies, plus, it encourages oil companies to search for and extract "difficult" oil - i.e., deepwater deposits. ’Sides, this is hardly expensive oil. Anyway, if economic history is any lesson, speculative bubbles never last...<br /><br />Anon,<br /><br />Good to have you on board. There's still trolls out there who think oil peaked in 2005? Not surprising, that's why their a lunatic fringe. Anyway, hate to burst their bubble, but... 2008 beat the so-called 2005 peak; plus if OPEC hadn't cut back production late last year, 2008's production would have absolutely drilled that of 2005.Bloggin' Brewskiehttps://www.blogger.com/profile/06117891792945288480noreply@blogger.comtag:blogger.com,1999:blog-6522376676055666486.post-54963403864960325022009-08-13T11:14:32.355-07:002009-08-13T11:14:32.355-07:00How can this be? They are posting over at the Pea...How can this be? They are posting over at the Peakoil forums that the EIA has a new report out showing 'definative' proof that oil peaked in 2005. But in their defense they put up a story in the news section where an economic prognosticator is touting sub $10/barrel oil.<br /><br />Anyway just wanted to give Brewskie a huge shout out for maintaining this excellent blog. I check it daily.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6522376676055666486.post-89694681207434050032009-08-13T08:47:11.401-07:002009-08-13T08:47:11.401-07:00There are speculators that are bound and determine...There are speculators that are bound and determined to generate a "bounce" in oil prices to generate a "wave" of price increases that in turn can be capitalized on.<br /><br />These speculators most definitely see oil as a financial instrument to be manipulated for profit. Perhaps, getting burned, again, is what is needed to finally disabuse them of this notion.<br /><br />There are no shortages and OPEC is holding back production to boot.<br /><br />I don't want to see a collapse of prices, but an attempt to generate a "bounce" when supplies don't warrant a price rise, often leads to the opposite result of what was intended (see last year's price collapse).<br /><br />AnacondaAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6522376676055666486.post-36009219346420251522009-08-12T15:49:17.523-07:002009-08-12T15:49:17.523-07:00Gluts everywhere of oil and gas--but prices rising...Gluts everywhere of oil and gas--but prices rising on the NYMEX. Something is rigged o the NYMEX. I just know it. I feel it in my bones, and I know I am right.<br />I sure hope there are some tough, smarties at the CFTC.--BeanoAnonymousnoreply@blogger.com