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Snik
Tar Sands
Joined: Jun 19, 2008
Posts: 67
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 Posted: Mon Oct 06, 2008 3:35 pm Post subject: Trump $20 oil |
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Donald Trump claims that if it weren't for OPEC production restraint, oil would be $20. I guess they have more excess production than I thought! So much for Peak Oil.
When an expert like that talks, we have to listen.  |
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joeltrout
Light Sweet Crude
Joined: Sep 19, 2007
Posts: 1305
Location: Land of the Tongva tribe
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| Posted: Mon Oct 06, 2008 4:20 pm Post subject: Re: Trump $20 oil |
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| Snik wrote: | Donald Trump claims that if it weren't for OPEC production restraint, oil would be $20. I guess they have more excess production than I thought! So much for Peak Oil.
When an expert like that talks, we have to listen. |
Don't laugh too much. If I told you 2 months ago when oil was at $147.55 that it would fall 40% to $87.81 in less than 60 days then you would have laughed then.
For the record: I don't think we will ever see $20 oil or defend Trump
joeltrout
_________________
ENERGY is the basis of our industrial civilization and sustains our standard of living. It is the foundation stone of our national wealth. A nation starved of energy.....will be a nation of starving people. |
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Snik
Tar Sands
Joined: Jun 19, 2008
Posts: 67
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| Posted: Mon Oct 06, 2008 5:21 pm Post subject: Re: Trump $20 oil |
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Actually I wouldn't have doubted you at all on the price drop. I told everyone I talked to that I thought it would drop back to at least 80 before too long. With the world apparantly going into recession, or worse I would not doubt that we may even see $50 oil in the next 6 months. Got my hummer on order already....lol.
Trump went on to talk about how we need to develop shale oil, alternative energy sources, etc. I guess he doesn't realize that if oil drops to $20 nobody will be able to go after reserves like shale oil, and more expensive (at $20 oil) alternative energy sources will once again be put on the back burner.
IMO one of the worst things for this country's long term health would be for oil to drop back to levels like that. Then when PO does (if it hasn't already) hit we'll be as ill prepared for it as we are today.
Wonder how much Trump will get out of that $700 bil bailout? His primary business is real estate after all. |
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joeltrout
Light Sweet Crude
Joined: Sep 19, 2007
Posts: 1305
Location: Land of the Tongva tribe
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| Posted: Mon Oct 06, 2008 5:37 pm Post subject: Re: Trump $20 oil |
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| Snik wrote: |
Wonder how much Trump will get out of that $700 bil bailout? His primary business is real estate after all. |
Trump probably makes more off his reality tv show then he does his real estate portfolio.
joeltrout
_________________
ENERGY is the basis of our industrial civilization and sustains our standard of living. It is the foundation stone of our national wealth. A nation starved of energy.....will be a nation of starving people. |
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TreeFarmer
Heavy Crude
Joined: Jun 26, 2007
Posts: 317
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| Posted: Mon Oct 06, 2008 8:35 pm Post subject: Re: Trump $20 oil |
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How do you think the country will fare if oil stays between $70 and $80 for a couple of years?
Would that range equate to ~2.75 a gallon gasoline?
TF |
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