BahamasEd wrote:It looks like we're right on schedule with the ETP and it's MAP
BahamasEd wrote:It looks like we're right on schedule with the ETP and it's MAP
The price action of WTI shows it quite clearly that the non oil extracting part of the economy can't afford to pay a high enough price that would allow the extracting, processing and delivery of oil products to it.
It's that simple, most of the oil still in the ground will stay there unless somehow you find a way to pay $100++ per barrel. The last 12 years has shown that we can't!
The best yearly average weekly price of WTI was right around $100
Average weekly price of WTI for years 2008 thru 2013 was $88.
Average weekly price of WTI for years 2014 thru 2019 was $53.
The trend is what it is and it shows no signs of changing, the price of WTI is still hitting lower lows and lower high.
I have no idea what the future will bring but the next 3 years are going to be interesting and not in a good way.
Have fun everyone.
BahamasEd wrote:It looks like we're right on schedule with the ETP and it's MAP
BahamasEd wrote:The price action of WTI shows it quite clearly that the non oil extracting part of the economy can't afford to pay a high enough price that would allow the extracting, processing and delivery of oil products to it.
BahamasEd wrote:It's that simple, most of the oil still in the ground will stay there unless somehow you find a way to pay $100++ per barrel. The last 12 years has shown that we can't!
BahamasEd wrote:The trend is what it is and it shows no signs of changing, the price of WTI is still hitting lower lows and lower high.
BahamasEd wrote:I have no idea what the future will bring but the next 3 years are going to be interesting and not in a good way.
Have fun everyone.
Baduila wrote:This is the graph from the HG report, page 34, used for the WTI price projection. I see two sets of data points, one labeled 38 % and one labeled 29%. OS seems to have a problem with his eyes, beause he only sees one set.
Baduila wrote:About three years ago, i have put OS, Adam, and asg on my ignore list. They never posted anything from which i could learn something. Today, this is still valid.
Baduila wrote:About three years ago, i have put OS, Adam, and asg on my ignore list. They never posted anything from which i could learn something. Today, this is still valid.
asg70 wrote:Is there a smoking gun that Baduila is a Short sock-puppet?
It's not unreasonable to think there are one or two ETP nuts still keeping the faith.
asg70 wrote:Is there a smoking gun that Baduila is a Short sock-puppet?
It's not unreasonable to think there are one or two ETP nuts still keeping the faith.
Baduila wrote:Third, most importantly, you ignore the fact, that there is the 2nd law of thermodynamics, which tells us, that the net energy of oil production now rapidly goes to zero. Because it goes to zero, the oil price will go to zero. Why should the world economy pay for something which has no value ? We have a law of physics, which tells us that the oil price must go down, and it goes down.
Baduila wrote:the line connecting the peaks of the oil price is going down since 2008.
Second, you ignore the fact, that the average oil prices are going down since 2008
Baduila wrote:net energy of oil production now rapidly goes to zero. Because it goes to zero, the oil price will go to zero. Why should the world economy pay for something which has no value ?
Baduila wrote:Reading and commenting posts like this is a waste of time.
Baduila wrote:Third, most importantly, you ignore the fact, that there is the 2nd law of thermodynamics, which tells us, that the net energy of oil production now rapidly goes to zero. Because it goes to zero, the oil price will go to zero. Why should the world economy pay for something which has no value ?
We have a law of physics, which tells us that the oil price must go down, and it goes down.
Baduila wrote:Third, most importantly, you ignore the fact, that there is the 2nd law of thermodynamics, which tells us, that the net energy of oil production now rapidly goes to zero. Because it goes to zero, the oil price will go to zero. Why should the world economy pay for something which has no value ?
We have a law of physics, which tells us that the oil price must go down, and it goes down.
Outcast_Searcher wrote:Baduila wrote:Third, most importantly, you ignore the fact, that there is the 2nd law of thermodynamics, which tells us, that the net energy of oil production now rapidly goes to zero. Because it goes to zero, the oil price will go to zero. Why should the world economy pay for something which has no value ?
We have a law of physics, which tells us that the oil price must go down, and it goes down.
For the umpteenth time, clownishly reporting the same nonsense and ignoring the facts doesn't make you correct.
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