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PeakOil is You

PeakOil is You

THE Price of Crude pt 13

General discussions of the systemic, societal and civilisational effects of depletion.

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Re: THE Price of Crude pt 13

Unread postby ROCKMAN » Thu 20 Apr 2017, 15:24:28

As pointed out numerous times while some in the fossil fuel industry are facing tough times others are doing great. Like those buying PROVED reserves for less then companies were spending to try to develop speculative reserves during the "boom". Thus the potential largest fossil fuel wealth transfer ever seen continues:

1Q Oil, Gas M&A Deals Hit Record $73 Billion

"Investors enter 2017 with renewed enthusiasm for oil and gas deals, pushing transaction value 160 percent above last year, but that excitement may be on the wane. Reassured by Donald Trump’s presidential agenda and the relative stability of oil prices once OPEC and non-OPEC countries settled on oil quotas, investors opened 2017 with a record $73.04 billion deals, according to findings by PwC.

The investment represents a 160 percent increase in mergers and acquisitions (M&A) deal value, year over year, which includes the return of foreign capital in U.S. shale assets. As for deal volume, 53 were announced during the first quarter, up 36 percent year over year."
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Re: THE Price of Crude pt 13

Unread postby sparky » Thu 20 Apr 2017, 21:15:51

.
more sharp fluctuation in the price of crude
after a sharp drop due to ?????
there was a strong rise above 50$ and back to the 53$ line
now it's falling sharply again toward the 50$
I would put it to frenzied speculation ,
the upper and lower boundary seeming to be 50< >55
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Re: THE Price of Crude pt 13

Unread postby ROCKMAN » Thu 20 Apr 2017, 23:01:21

sparky - "...more sharp fluctuation in the price of crude...". You mean that range of a few $'s per bbl compared to 2011 when the price fluctuated from $90 to $83 to $105 to $112 to $98 to $90 to $100 to $80 to $90 to $78 to $102 to $94 to $102?

I gather oil price "stability" is in the eye of the beholder. LOL.
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