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Page added on July 28, 2015

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Why Oil Prices Could Go Even Lower

On today’s “Deep Dive,” Bloomberg’s Alix Steel and Joe Weisenthal take a look at oil prices. They speak on “What’d You Miss?”



7 Comments on "Why Oil Prices Could Go Even Lower"

  1. Nony on Tue, 28th Jul 2015 7:58 pm 

    Mindless blather.

  2. Plantagenet on Tue, 28th Jul 2015 8:34 pm 

    The world is in an oll glut. Its quite possible that oil prices will go still lower before market equilibrium is restored.

  3. BC on Tue, 28th Jul 2015 9:04 pm 

    I have a technical target for WTI at $32, but that will probably coincide with global recession.

    More “glut” please.

  4. Plantagenet on Tue, 28th Jul 2015 10:27 pm 

    @BC

    One global recession coming your way. China is going down and UPS just announced their data shows the US economy is noticeably slowing.

  5. apneaman on Tue, 28th Jul 2015 11:32 pm 

    Chevron to cut 950 jobs in Houston, 1,500 companywide

    http://blog.mysanantonio.com/atlarge/2015/07/chevron-to-cut-950-jobs-in-houston-1500-companywide/#34195101=0

  6. BC on Wed, 29th Jul 2015 11:20 am 

    Plant, my own cyclical work strongly suggests that the US economy stalled coincident with the onset of the crash in the price of oil (particularly the energy, energy-related transports, and industrial sectors), and that private final sales per capita have decelerated to a recession-like rate in Q4 2014-Q1 2015 not unlike in winter-spring 2008 and spring-summer 2001.

    The pattern looks a lot like 1986, but we have record debt to wages and GDP; real GDP is growing at half the rate; real wages for the bottom 80-90% are flat to negative (and worse after debt service and illth care costs); there are unprecedented debt-induced asset bubbles everywhere; and we are laboring under Gilded Age- and Roaring Twenties-like wealth and income inequality with a record low for wages as a share of GDP.

    The stock market, CEOs/CFOs, the Fed, and virtually ALL eCONomists missed the cyclical turn, as always.

    I suspect history is rhyming yet again.

  7. shortonoil on Wed, 29th Jul 2015 1:03 pm 

    As petroleum’s ability to power the economy declines, the economy’s ability to pay for it declines:

    http://www.thehillsgroup.org/depletion2_022.htm

    The price of petroleum has now dropped to a level where its full life cycle production cost can not be recovered. Producers can no longer afford to replace reserves that are being extracted.

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