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Economic outlook from the attacks on SA

Discussions about the economic and financial ramifications of PEAK OIL

Re: Economic outlook from the attacks on SA

Unread postby Outcast_Searcher » Mon 30 Sep 2019, 21:45:16

Pops wrote:
Revi wrote:Back to the topic of this thread. Why aren't oil prices going up lately? What's going on?


BUSINESS NEWS SEPTEMBER 30, 2019 / 9:16 AM
FUJAIRAH, United Arab Emirates (Reuters) - Saudi Aramco has restored full oil production and capacity to the levels they were at before attacks on its facilities on Sept. 14, the chief executive officer of its trading arm, Ibrahim Al-Buainain, said on Monday.

https://www.reuters.com/article/us-saud ... SKBN1WF1T0

Which makes sense given that oil prices have roughly returned to pre-event levels (WTI near $55), and gasoline prices have also (at least in my area). I'm actually a bit surprised that apparently there isn't a meaningful lingering premium on oil prices re a fear factor.

Now, some heightened awareness of the geopolitical risk may linger, but all the dramatic claims about how this was going to be some major peak oil deal -- no, not at all, barring further / expanded attacks.

https://ycharts.com/indicators/wti_crude_oil_spot_price

I perused the one month chart.
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.
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Re: Economic outlook from the attacks on SA

Unread postby Outcast_Searcher » Mon 30 Sep 2019, 21:57:12

GHung wrote:
Outcast_Searcher wrote: ........
When we (the non fast crash doomer hysteria crowd) all agree none of us should respond ever to any of the doomer clan, be sure and let me know. ......


When we, the few who still comment here, can all agree on Outcast_Searcher's criteria of who, and who doesn't, fit into the so-called "fast crash doomer hysteria crowd", be sure and let me know. Especially concerning is the part where they've all banded together into a "clan".
That's some scary chit, O_S 8O

Nothing useful to say, I see. No wonder I usually have you on ignore. :o

Where did I say they have all banded together?

I just looked up clan. One of the definitions is "a group of people with a strong common interest". Or re Mirriam Webster, "a group united by a common interest or common characteristics".

So now that you have appointed yourself word nazi (even though you're clearly not qualified), go ahead and regale us with tales why in the context of having a strong (one might even say fanatical) common interest, the fast crash doomer crowd / group / set is not a clan.

https://www.google.com/search?q=clan+de ... e&ie=UTF-8

https://www.merriam-webster.com/dictionary/clan

Or, you could even get a life.
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.
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Re: Economic outlook from the attacks on SA

Unread postby StarvingLion » Tue 01 Oct 2019, 11:21:20

rockdoc and cog fiddle while KSA burns.

Its getting worse there every day. No amount of useless junk "military" hardware (read Patriot missiles) is gonna matter one bit.

The place will be on fire in the next 6 months.

Facebook "Currency" demands it.
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Re: Economic outlook from the attacks on SA

Unread postby StarvingLion » Wed 02 Oct 2019, 12:09:11

YOU ARE ALL DOOMED

One more attack and you will all be lining up to jump off bridges.

http://crudeoilpeak.info/the-attacks-on ... -in-ghawar

"The world cannot live without Saudi oil"

" It is weak because the money printing in response to high oil prices in mid 2008 and 2011-2014 (shale oil boom!) has created a debt problem weighing down on the financial system and the balance sheets of many companies. "

"... the next attack is almost certain. The Houthis have already threatened to attack the UAE"

"Ghawar’s Light Arab has an API of 34 with a sulphur content of 1.9- 2.2 % by weight (which the Abqaiq plant must remove). Therefore, much of the very light and extra light shale oil cannot really replace Ghawar oil directly."

"All this means that Ghawar has peaked and future production is set to decline. The money now spent (hundreds of millions of dollars) on Abqaiq’s repairs will not be available to control decline rates in the field."
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