Exploring Hydrocarbon Depletion
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So it is clearly a new peak. But the graph you posted still looks like a bumpy plateau to me. Doesn't it look like that to you as well? Since '85, we have managed to bump up our c&c production by at least 3% every 5 years. Except for the last 5 year period, where we are at less than a .4% increase. This does not seem like very corny news to me.OilFinder2 wrote:This bump is for pstarr, with a bit of emphasis added. No lighter fluid. No corn liquor. Crude and condensate - same as it's always been, since the EIA first started publishing the data in the early 70's. I wonder how many more times I'll have to bump this?
Higher price = lower demand. This is Economics 101.
Pops wrote:The flip side is just as valid, higher price = greater supply. And isn't that the cornerstone of the corny argument?
If you set the bottom boundary at the last low it is impossible to be outside the channel, ever, . . . ever.
However I think someone investing in oil between now and 2020 would do well anticipating an inflation adjusted Annual Average Crude Oil Price of more than $70.
I'm not sure what level you see oil prices falling to by 2020, but if you are investing your money expecting an inflation adjusted Annual Average Crude Oil Price of what we saw in the 90s, say in the $20-$40 range, I think you will lose alot of money.
There could be a massive recession that temporarily drives prices down like we saw in 2009.
Do you have any money invested in oil?
I don't invest in commodities, but I am currently long several oil & pipeline stocks. When I saw oil stocks crash in 2009, I bought up a bunch of them on the cheap. The stock prices have since gone way up. Thus far, this strategy has rewarded my handsomely.
I will caveat this as it appears that this chart is talking about total liquids and not C&C, but the point is still valid IMHO.
AirlinePilot wrote:You really do like that chart dont you? There you go posting it again.