I believe the term "negative EROEI" is being used in the context of two barrels of oil invested for one barrel of oil equivalent out giving a net loss. Other than the folks making the profit in that deal most people will view that as a negative.

If oil goes up over $200 a lot of people won't be able to heat their houses at all. They might still drive around a bit, but car culture will take a serious hit. I just read the CIBC report and it sounds like they are predicting 10 million less cars in the US in the next 4 years. It's really hit the mainstream. They are getting people ready for $7 gasoline already.

Here it comes. The only satisfaction we can get out of this is the "told you so" factor. Some of my colleagues might hit me if I say it, but it might be worth it.

They won't have enough money, that's true. But I expect government intervention to step in heavily by winter. First they will order utility companies to accept late payments. Then they will give heating subsidies at some federal or state level.

Even with that help, people will be worse off and will have to spend less on everything else - if possible.

I'm not reminding anyone I told them so, even if I did.

Might be worth it just to hop into the car to keep the family warm next winter!

Asian MKTS are opening..looks like 141.63 at this point.

catbox
Should be an interesting Monday.

Yeah.... Its up at 141.69... I'm going to fill up my other car tonite, i feel a price rise very soon.

Take 'em for a ride in your car instead. That's one of the best "I told you so's" that you have.

Are there not things going on right now that have a negative EROEI? All such activities are 'subsidized' are'nt they? How long can we subsidize tar sands? I like the point, just so you know I am not dissing it.

There is a reason why Sachs, and CERA and alot of other folks who would never have talked about it before are talking $150 and above.

I am actually hoping, maybe secretly that we see a miracle find of new supply and then that we understand this was our warning, we have to diversify. As soon as I entertain that hope it vanishes. And I am left very concerned, not so much for the economy, it does it's thing, and humans have survived alot of stuff, I am concerned for those who are inevitably going to have to go through the same psychological shock that I have struggled with by choice since finding out about this issue. Only many of them are going to get it on the day there is no bread at the Supermarket and the News is talking about Peak Oil non-stop.

It is better to get the information out there. There is no benefit to covering anything up, give the spread of most likely scenarios and let people sort it out. I say that on something like this because the risk here (ala Hirsch) is beyond anything we have ever seen.

If any of the experts felt this was the worst and things were going to get substantially better from here they would say so, and noone really is. Peak Oil my freinds has moved from an issue on the fringe to an issue that those in the know need to know about, it's place in the policy world has changed and will continue to rise within the next two years.

But isn't the ecb atleast trying to combat inflation by raising rates?

$142.58

It's a cloudy Monday evening, Singapore time and it looks like we're getting very close to another crude oil record again.

NYMEX CSO says it's hit $142.96.

Another 3 cents to go.

Yep. Met some resistance and tested the previous high several times before breaking through big time.

$143.67

Hello all. Where are you following the prices of oil? On nymex.com the prices dissapear sometimes, for example now. Where to follow them when it dissapears on nymex site? Thanks.

I use lowems page:
http://www.post1.net/lowem/page/livequotes

Thanks lowem!