The unwarranted insult in your first sentence is so egregious that any discussion of the rest of your post is pointless.dissident wrote:The masturbators who dismiss any accounting for energy in oil extraction implicitly assume and assert that there will always be cheaper energy sources to extract the expensive oil (and gas). Where is there as single shred of evidence of cheaper energy sources being deployed in oil and gas extraction? You clowns can't get away with some spontaneous future transition to these mythical cheap sources since any such transition requires years of expensive infrastructure development.
You are looking for commentary on the price forecasting abilities of shortonoil? Ok. shortonoil was still predicting $200 oil in 2014:BahamasEd wrote:Back in 2014, both here and at thehillsgroup.org, shortonoil predicted that the EIA annual price of WTI would be under $66 in 2016 and under $54 in 2017. (you can go to the EIA site and look up the price)
No one wants to argue about that, because the prediction has been correct. Come on, I've been posting this weekly for the last few months and NO-ONE has been posting about it. Just a 100 post of bull without much substance.
shortonoil wrote:Sat 19 Jul 2014 - $200 per barrel oil by 2025 is a much more likely scenario than $120.
9 Reasons Why Oil Prices May Be Headed For A BustJUN 9, 2014 - It is important to be aware of several factors that have a high probability of pushing crude oil prices lower in the next couple of years.
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Commercial hedgers are the actual producers and users of crude oil (the Exxons and BPs) who utilize the futures market as a form of insurance against adverse price moves. Commercial hedgers are considered to be the "smart money" because, after all, they are the physical crude oil market and have firsthand information about future supply and demand trends.
Commercial hedgers now have a record 445,492 net contract short position in the crude oil futures market, which indicates that their greatest concern is not an increase in crude oil prices, but a sharp decline. Commercial crude oil hedgers are aware of many of the bearish points that I am discussing in this article, which likely explains why they are heavily hedging against a coming crude oil bust.
marmico wrote:The only thing that is changing is the amount of energy and money spent on finding, drilling for and delivering that oil to the refinery and that has to be calculated over all the different oil fields in the world from KSA to Alberta tar sands times each ones percentage of the market.
Correct. Brandt studied 40 oil fields around the world and concluded: The net energy return ratios (NERs) examined in this study for global oilfields range from approximately 2:1 to 100:1, with a production-weighted mean of 33:1.
http://journals.plos.org/plosone/articl ... ne.0144141
creedoninmo wrote:Thanks for the great post Don. In the peak oil community, there is certainly a lot of chatter.
creedoninmo wrote:
In central Missouri the local university is cutting 12 percent. Our local City has rising expenses and flat revenue. I read last week that Ford is cutting it's work force by 10 percent. Retail is slowing down. Collapse is occurring exactly at the rate it should and no faster. Remember as Short has said oil price follows the economy, it doesn't lead.
creedoninmo wrote:https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=W_EPM0F_YPY_NUS_MBBLD&f=W
They can produce oil for less than 50 dollars a barrel because they no longer care about a return on their investment.
BahamasEd wrote:No one wants to argue about that, because the prediction has been correct.
Cog wrote:So when is this tremendous oil shortage supposed to get off the ground?
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