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THE 2017 po.com Oil Price Challenge

Discussions about the economic and financial ramifications of PEAK OIL

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Re: THE 2017 po.com Oil Price Challenge

Unread postby onlooker » Fri 10 Mar 2017, 10:36:34

NYMEX Down to about $48
“the Hell is what we will leave behind" Ibon
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Re: THE 2017 po.com Oil Price Challenge

Unread postby PeakOiler » Fri 10 Mar 2017, 14:18:19

onlooker wrote:NYMEX Down to about $48


Thanks onlooker. I'm going to post a new scorecard next week showing the new low price for the year after the EIA report is released.

I've been busy seeing oral surgeons (molar extraction and a root canal re-treatment in the molar next to the back that was extracted, and later this month a molar implant). Meanwhile, I've been working in my garden and tending my fruit trees.

I'm beginning to think that this year's peach harvest may be a bust. I suspect the trees didn't get enough chilling hours this winter. Most of the 13 peach trees have not produced blossoms, at least not yet. February temps were way above normal.
There’s a strange irony related to this subject [oil and gas extraction] that the better you do the job at exploiting this oil and gas, the sooner it is gone.

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Re: THE 2017 po.com Oil Price Challenge

Unread postby vtsnowedin » Fri 10 Mar 2017, 16:07:06

PeakOiler wrote:
onlooker wrote:NYMEX Down to about $48


Thanks onlooker. I'm going to post a new scorecard next week showing the new low price for the year after the EIA report is released.

I've been busy seeing oral surgeons (molar extraction and a root canal re-treatment in the molar next to the back that was extracted, and later this month a molar implant). Meanwhile, I've been working in my garden and tending my fruit trees.

I'm beginning to think that this year's peach harvest may be a bust. I suspect the trees didn't get enough chilling hours this winter. Most of the 13 peach trees have not produced blossoms, at least not yet. February temps were way above normal.

Wishing you the best of luck with the dental work. A final review after your all done would be interesting.
Do peach yields vary a lot year to year based on spring weather and bee populations?
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Re: THE 2017 po.com Oil Price Challenge

Unread postby SteinarN » Mon 13 Mar 2017, 05:16:50

Damn! There went my plan right into the toilet :p
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Re: THE 2017 po.com Oil Price Challenge

Unread postby PeakOiler » Tue 14 Mar 2017, 14:33:49

vtsnowedin wrote:Wishing you the best of luck with the dental work. A final review after your all done would be interesting.
Do peach yields vary a lot year to year based on spring weather and bee populations?


Thanks! I could answer your Qs in the Health forum and Citrus and Peach Trees threads. But briefly, hydrocodone is a wonderful painkiller after dental surgery (molar extraction). I only took it for 24 hours after the procedure. I hate OIC. :oops: I just took Advil after the root canal re-treatment.

There have been plenty of bees around here, attracted partially by all the citrus blossom aromas too, especially orange and satsuma. Wonderful smells!

I've observed baby peaches already forming and more blossoms on 7 of my 13 peach trees. I may still get a few hundred peaches this year. We'll see. There could always be a late freeze this spring which could hurt the peaches.

Back on topic, I noticed that WTI, according to cx-portal today, was down to around ~$47.75. That low price (or lower) won't be seen in the EIA report until next week...

I wouldn't mind if the price dropped to $42.61 over the next few weeks. :o
There’s a strange irony related to this subject [oil and gas extraction] that the better you do the job at exploiting this oil and gas, the sooner it is gone.

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Re: THE 2017 po.com Oil Price Challenge

Unread postby vtsnowedin » Tue 14 Mar 2017, 18:48:17

PeakOiler wrote:
I wouldn't mind if the price dropped to $42.61 over the next few weeks. :o
Of course not. My low of $48.00 is a lot more likely this week though. Where it will go from there I'm not sure of. KSA seems to not be able to constrain itself and that might extend the glut through most of the year. Silly actually as they could just refuse to sell any oil for export for less then $70/b and that would be the price the next week.
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Re: THE 2017 po.com Oil Price Challenge

Unread postby Cog » Tue 14 Mar 2017, 19:47:04

The king of Saudi Arabia isn't helping me out here. We need some drama.
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Re: THE 2017 po.com Oil Price Challenge

Unread postby vtsnowedin » Tue 14 Mar 2017, 20:17:56

Cog wrote:The king of Saudi Arabia isn't helping me out here. We need some drama.

I prefer boring as far as the markets go, even if that means I lose this game again this year. :roll:
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Re: THE 2017 po.com Oil Price Challenge

Unread postby PeakOiler » Wed 15 Mar 2017, 14:03:08

As expected, a new low price for the year was reported today:

Image
There’s a strange irony related to this subject [oil and gas extraction] that the better you do the job at exploiting this oil and gas, the sooner it is gone.

--Colin Campbell
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Re: THE 2017 po.com Oil Price Challenge

Unread postby Cog » Wed 15 Mar 2017, 14:11:31

Thanks Peakoiler for the updates you do.

Kublikhan is closing in on me.
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Re: THE 2017 po.com Oil Price Challenge

Unread postby PeakOiler » Wed 15 Mar 2017, 14:34:35

Cog wrote:Thanks Peakoiler for the updates you do.

Kublikhan is closing in on me.


If the price keeps dropping, a lot of us will be catching up with you! :lol:
There’s a strange irony related to this subject [oil and gas extraction] that the better you do the job at exploiting this oil and gas, the sooner it is gone.

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Re: THE 2017 po.com Oil Price Challenge

Unread postby Cog » Wed 15 Mar 2017, 14:38:18

Yes indeed. I don't even like reading reports about oil gluts and failed OPEC quotas.
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Re: THE 2017 po.com Oil Price Challenge

Unread postby vtsnowedin » Wed 15 Mar 2017, 15:36:38

I'll call $0.28 a direct hit on the low. lots of year left to get to my high and close/average. Best year I've had so far. :-D
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Re: THE 2017 po.com Oil Price Challenge

Unread postby dolanbaker » Wed 15 Mar 2017, 16:39:18

The new low has blown me out for this year.
Good luck to whoever gets it. ;)
Ronald Coase, Nobel Economic Sciences, said in 1991 “If we torture the data long enough, it will confess.”
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Re: THE 2017 po.com Oil Price Challenge

Unread postby vtsnowedin » Wed 15 Mar 2017, 19:24:15

dolanbaker wrote:The new low has blown me out for this year.
Good luck to whoever gets it. ;)

Don't despair . Your other guesses are all still in play. Only time will tell who has it right.
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Re: THE 2017 po.com Oil Price Challenge

Unread postby dolanbaker » Wed 15 Mar 2017, 19:36:52

vtsnowedin wrote:
dolanbaker wrote:The new low has blown me out for this year.
Good luck to whoever gets it. ;)

Don't despair . Your other guesses are all still in play. Only time will tell who has it right.

2 out of 3 ain't bad I suppose.
Ronald Coase, Nobel Economic Sciences, said in 1991 “If we torture the data long enough, it will confess.”
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Re: THE 2017 po.com Oil Price Challenge

Unread postby Subjectivist » Thu 16 Mar 2017, 09:16:13

Yikes, I fell five places!
II Chronicles 7:14 if my people, who are called by my name, will humble themselves and pray and seek my face and turn from their wicked ways, then I will hear from heaven, and I will forgive their sin and will heal their land.
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Re: THE 2017 po.com Oil Price Challenge

Unread postby PeakOiler » Sat 25 Mar 2017, 04:55:30

Another new low price for the year was reported:

Image
There’s a strange irony related to this subject [oil and gas extraction] that the better you do the job at exploiting this oil and gas, the sooner it is gone.

--Colin Campbell
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Re: THE 2017 po.com Oil Price Challenge

Unread postby Revi » Wed 29 Mar 2017, 08:18:20

I am finally in the top 5! I will just bask in it for a while, because there are a lot of surprises to come in this year, and I think some of the others will be moving up in the rankings. We'll see...
Deep in the mud and slime of things, even there, something sings.
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Re: THE 2017 po.com Oil Price Challenge

Unread postby Cog » Wed 29 Mar 2017, 11:35:41

In January's snow I had a quaint notion,
That oil price would be stable with barely a motion;
Some say I am barely smarter than a dog,
But in the end, the winner will be Cog.
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