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THE 2017 po.com Oil Price Challenge

Discussions about the economic and financial ramifications of PEAK OIL

Re: THE 2017 po.com Oil Price Challenge

Unread postby PeakOiler » Sun 01 Jan 2017, 05:59:38

OK. Here's the scorecard:

Image

We are now in the grace period for making or changing your guesses. The EIA report will be released Thursday I believe.

Thanks to all for playing and good luck!

(Salinski: I've corrected your average guess to $56.09. Excel rounded the number but I fixed that.) I'll be double checking all the numbers.
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 AutomaticEarth » Wed 04 Jan 2017, 16:32:36

OK, here's mine (if I'm not too late):

High: 77
Low: 42
Close: 65
Average: 55
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Re: THE 2017 po.com Oil Price Challenge

Unread postby PeakOiler » Wed 04 Jan 2017, 17:20:51

AutomaticEarth wrote:OK, here's mine (if I'm not too late):

High: 77
Low: 42
Close: 65
Average: 55


No, you're not too late. I just entered your numbers into the spreadsheet.

Where's Pops? I thought he would play again this year since he did well last year. And I thought Quinny would play again too. I think that if we don't see their guesses soon, I'll have to take them off of the scorecard.

I wonder why Shortonoil, ROCKMAN, and Adam (et al) won't play our game? It costs nothing unless side bets are made. :roll:
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 » Wed 04 Jan 2017, 17:26:59

PeakOiler wrote:
I wonder why Shortonoil, ROCKMAN, and Adam (et al) won't play our game? It costs nothing unless side bets are made. :roll:

I don't have to wonder too much. [smilie=5baby.gif]
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Re: THE 2017 po.com Oil Price Challenge

Unread postby SteinarN » Wed 04 Jan 2017, 18:46:32

I'll revise my close to 64, low to 50 and average to 58.

My low isn't too low now? I mean, it wasnt below 50 on monday or thursday?
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Re: THE 2017 po.com Oil Price Challenge

Unread postby farmlad » Wed 04 Jan 2017, 19:31:01

I need to change my High of 50 to 55
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Re: THE 2017 po.com Oil Price Challenge

Unread postby Outcast_Searcher » Wed 04 Jan 2017, 21:01:40

SteinarN wrote:I'll revise my close to 64, low to 50 and average to 58.

My low isn't too low now? I mean, it wasnt below 50 on monday or thursday?

No. (I presume you mean your low isn't too high now?)

The WTI has been in the 52ish to 54ish range recently, unless I missed something. (I glance at that when I look at the overall market. It's 53.26 currently, if that helps).
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.
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Re: THE 2017 po.com Oil Price Challenge

Unread postby Outcast_Searcher » Wed 04 Jan 2017, 21:04:31

vtsnowedin wrote:
PeakOiler wrote:
I wonder why Shortonoil, ROCKMAN, and Adam (et al) won't play our game? It costs nothing unless side bets are made. :roll:

I don't have to wonder too much. [smilie=5baby.gif]

It's too bad really. More wisdom (or crowds) from more voices with various viewpoints would be interesting. And you'd think that Short would have an edge, given he has his model and all...
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.
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Re: THE 2017 po.com Oil Price Challenge

Unread postby salinsky » Thu 05 Jan 2017, 00:08:48

I'd like to change my low to $41.20
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Re: THE 2017 po.com Oil Price Challenge

Unread postby salinsky » Thu 05 Jan 2017, 00:14:56

ROCKMAN does not to take a chance at looking bad, so he just stays in his corner, waits for the final bell and walks away a winner every time. Or so he tells us.
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Re: THE 2017 po.com Oil Price Challenge

Unread postby vtsnowedin » Thu 05 Jan 2017, 08:21:06

Outcast_Searcher wrote: And you'd think that Short would have an edge, given he has his model and all...

Why yes he should be the odds on favorite. :razz:
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Re: THE 2017 po.com Oil Price Challenge

Unread postby Subjectivist » Thu 05 Jan 2017, 11:27:29

Subjectivist wrote:High 91.11
Low 44.44
Close 73.33
Average 67.77


If I still can I would like to revise my guesses.

High 77.77
Low 49.49
Close 61.61
Average 58.88
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Re: THE 2017 po.com Oil Price Challenge

Unread postby PeakOiler » Thu 05 Jan 2017, 15:26:14

Here's the first scorecard of 2017 with just two days of data:

Image
Last edited by PeakOiler on Thu 05 Jan 2017, 16:39:27, edited 1 time in total.
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Re: THE 2017 po.com Oil Price Challenge

Unread postby Cog » Thu 05 Jan 2017, 15:45:55

I will enjoy my very short time in the lead.
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Re: THE 2017 po.com Oil Price Challenge

Unread postby vtsnowedin » Thu 05 Jan 2017, 15:48:07

I do believe that is as high as I have ever been. :)
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Re: THE 2017 po.com Oil Price Challenge

Unread postby vtsnowedin » Thu 05 Jan 2017, 16:04:56

How can the close be higher then the high? Just asking. :)
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Re: THE 2017 po.com Oil Price Challenge

Unread postby PeakOiler » Thu 05 Jan 2017, 16:34:41

vtsnowedin wrote:How can the close be higher then the high? Just asking. :)



Oops! My bad! Thanks for catching that! So I corrected the high (which was the same as the close), and the range is $0.93. I resorted the list and there were changes in the numbers, but not in the standings.

I edited my post above with the corrected scorecard. Just in time!
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 PeakOiler » Thu 12 Jan 2017, 07:42:31

Here's the scorecard for the week ending January 10:

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 KilonBerlin » Thu 12 Jan 2017, 08:16:47

It is too late to join, isn't it?!

What? Oh My God! Colin Campbell... he had corrected him self I think 10 times? His first Peak Oil Worldwide he said would be in the 1980's I think, but I know for sure that he said 1990! After the End of 1990, even though the (First) Persian Gulf War was running (I was only 3 years old back than, but I think the Kuwait attack and the extreme power with which the US secured Saudi-Arabia in Desert Shield took a while and went from late 1990 to 1991.... in 1991 we had a higher demand and production. For example China's last year as a net exporter of crude oil was in 1992. In 1993 they became a net importer... Campbell corrected himself to 1995 I think, later 2000, and I think 2 or 3 new "Peak Years" between 2000 and 2010, in fact the Worlds Oil Production was getting higher and higher, far too high, as we see now what the OPEC planned to do... we have simply 400 to 600 million liters too much of crude oil, every day!

We could make it like in lotto, we could take a glass and throw in 50 balls with each a year printed on it starting with 2017 - 2067. Than I could take one ball without seeing the year, and this would be as good as Campbell's prediction... If I see a oil documentary and the producers of this (mostly doomer docus where he appears) interview Campbell, at this point I immediately stop and close the window because if they interview him, the whole docu is crap...

I tink we will have a low of 41.25 US-$ (if €uro gets stronger),the High I would say 62.72$. Close with 52.84 and average 48.83$... that is correct/possible or?! A bit hard with my bad English.
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Re: THE 2017 po.com Oil Price Challenge

Unread postby SteinarN » Thu 12 Jan 2017, 16:08:23

We have had some late joiners before, so I'm sure Peak Oiler will let you in if you put up a good guess and ask him politely :)

But I warn you, your numbers in the chart will be in gray colour :razz:
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