Peak Oil News and Message Boards

PeakOiler wrote:

Outcast_Searcher wrote:What I recall, and see when I look at a WTI chart is that WTI averaged roughly $90+ish from, say, mid-2010 through mid-2014. That looks nothing like your chart. So if your chart isn't historical WTI prices, what is it, please?

Example of a WTI chart I just perused to check my recollection:

http://www.macrotrends.net/1369/crude-o ... tory-chart

OS: The chart I posted above is the range each year, not the average price.

Duh. OK. Got it. Somehow I missed that -- the range for 2008 was so huge I just (wrongly) assumed that couldn't be what it was, without checking.

My bad, and thanks for the clarification.

I just think its interesting to see how volatile prices have become in the last 10-12 years. What would the Oil Price Challenge be like if the range was only $3-$5 like it was in 1983 & 1984! lol

btw, the chart is based on the EIA data (Excel) at
http://www.eia.gov/dnav/pet/pet_pri_fut_s1_d.htm

OK,

High: 66.33
Low: 23.33
Close: 24.30
Average: 42.30

pstarr wrote:

careinke wrote:OK,

High: 66.33
Low: 23.33
Close: 24.30
Average: 42.30

What would drive crude prices back down to levels not seen since the 1990's, a supply glut or demand dearth? If a glut, where do the new supplies come from? If it's falling demand then it would have to be substitution. What are the alternatives?

What are your guesses pstarr? Inquiring minds want to know.

pstarr wrote:vt it's careinke's guess, not mine. I don't do economic predictions. It's a game for the playa's.

Now regarding the California drought: I've posted some odds on it ending by Jan 1. Sadly no one took me up on it (:

Awww, c'mon pstarr! It's just for fun! You don't like having a little fun? (fyi: I don't invest in the stock market, so I'm not really a "playa".)

And where's Tanada? I think she would do well in this game.

Don't forget that today is the last market day of 2016. The final deadline for making or changing your guesses should be before next Thursday when the EIA report comes out. (There is a one-day delay due to the holiday).

pstarr wrote:It seems the Shanghai Cooperation Organization, India's demonetisation of ₹500 and ₹1,000 banknotes, gold-pricing and the end of the petro dollar could effect crude pricing in some weird way that is way above my pay grade. Plus there's that peak oil thing. and ETP. So I'll go with with careinke wrote:

High: 66.33
Low: 23.33
Close: 24.30
Average: 42.30

Welcome aboard, Pete!

Reminder: There are two sorts to the scorecard data. The first sort is by overall difference, the second sort is by name (alphabetically). So even though y'all may be tied at the hip all this next year, careinke will beat you!

Here's the scorecard so far:



Note that I've changed my guesses just a bit.

My final prediction is

High $56
Low $32
Close $37
Avg $42

pstarr wrote:

careinke wrote:OK,

High: 66.33
Low: 23.33
Close: 24.30
Average: 42.30

What would drive crude prices back down to levels not seen since the 1990's, a supply glut or demand dearth? If a glut, where do the new supplies come from? If it's falling demand then it would have to be substitution. What are the alternatives?

Global economic collapse.

High- $99
Low- $44
Close- $88
Average- $66

Put me down for

HIGH 75
LOW 45
CLOSE 65
AVERAGE 55

Thanks!

Low $52.50
Average $63.00
High $74.00
Close $65.00

High: 60.20
Low: 50.10
Close: 53.25
Average: 53.25

Cog wrote:High: 60.20
Low: 50.10
Close: 53.25
Average: 53.25

Your predictions call for a very boring year. That would be nice.

low: $45
high: $60
close: $55
average: $55

My guesses. Low $46.18
High $62.12
Close $58.10
Average $56.09

Sal