Peak Oil News and Message Boards

High: 70
Low: 40
End: 62
Average: 59

I am assuming a slight up hill drift in prices as the delayed reaction from lack of investments starts to work its way through the system [although I think that I may be way out in my 'feelings' for when lack of drilling actually turns out in less oil].

High $ 72
Low 48
close 66
average 56
If the Cubs can win the world series I can win at this.

I'll go with

High: 81
Low: 52
Close: 58
Average: 69

Merry Christmas and a happy new year everybody

Well, I think time is up for my forecast:

High 56
Low: 30
Close: 42
Average: 48

High 71
Low: 47
Close: 68
Average: 58

Well, I'm going to guess early so I dont miss the game like last year.

So, lets say, low; 49, high; 68, average; 57, close; 62

I'm definitely playing this year. But I am waiting until we get closer to the deadline before putting in my estimates.

Until then I can list the side bet I made with shortonoil. If 2017 average WTI price is higher than 2016 Average price I win. If 2017 is lower shortonoil wins.

shortonoil wrote:

kublikhan wrote:

shortonoil wrote:If anyone is brave enough I'll give 5 to 1 odds in favor of the projection. That still leaves a very good spread on my side. $250 limit. We can handle the wager through PayPal.

I'll take that wager. I'll even go up to your limit of $250. So the bet is:
If average 2016 price of oil is lower than average 2017, I win and you pay me $1250 via paypal.
If average 2016 price of oil is higher than average 2017, you win and I pay you $250 via paypal.
Is this correct?

Yearly average WTI as reported by the EIA to be specific. Agreed and you are on!

Perhaps Shortonoil will play the Challenge this year!

Here's the updated list:

I'm waiting 'til the last minute of the last day as I don't want anyone getting false hopes from predictions. Looks like I'll be first place or second this year.
SteinarN is the one to watch.
SAL

Who was it that won three in a row some years ago? Where is he now?

SteinarN wrote:Who was it that won three in a row some years ago? Where is he now?

Whitman, Price, and Haddad. They are basking under the Maui sun.

Here you go:

PO.com Oil Price Challenge Previous Results

Thanks for that easy reference kublikhan

High: $95
Low: $45
End: $70
Average: $66.6

thylacine wrote:High: $95
Low: $45
End: $70
Average: $66.6

I have you in the list. Good luck!

We only need three more players to have as many as last year! New members are welcome to the game of course! Some of the older members just seem to not want to have a little fun spinning the wheel...



I've changed some of my guesses which you will see in the next preliminary scorecard.

I was worried about my big guess, but then oil dropped again today. Even with production cuts it's staying around $50.

Interesting...

Revi wrote:I was worried about my big guess, but then oil dropped again today. Even with production cuts it's staying around $50.

Interesting...

Back up over $51.50/bbl atm. Why are you surprised it is hovering arounf $50/bbl? OPEC Plus have $50/bbl as their stated bottom of the range of prices and in the past they have been pretty good at sustaining bottom prices. Not always very good at holding prices that creep up above their stated bottom, but generally pretty good at keeping a sound bottom range.

There are people who will no doubt argue that KSA as leader of OPEC just figures out what the price is liable to be and then states that price as the goal so that they maintain the illusion of control. No matter if this is true or not the general public takes the pronouncements at face value because it does not matter if they are cause or effect, they are pretty close to reality either way and widely disseminated.

Revi wrote:I was worried about my big guess, but then oil dropped again today. Even with production cuts it's staying around $50.

Interesting...

Were you expecting the price to go to $100/bbl. This is a relatively modest cut and it has achieved what it was meant to do. Establish a bottom support level. As long as the OPEC partners don't cheat, then it should enable them to do so.

I suspect you are letting that ETP model interfere with your common sense.

High: $81
Low: $48
End: $79
Average: $59

High: 105
Low: 54
End: 99
Average: 77