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Current Oil Price
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emordnilap



Joined: 05 Sep 2007
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PostPosted: Wed Sep 06, 2017 9:55 am    Post subject: Reply with quote

There's talk of severe price increases of fossil fuels coming up. Possibly Harvey-related, possibly Saudi decline.

It's about time!

Anyway, what's PS's take on it?
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adam2
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PostPosted: Wed Sep 06, 2017 10:17 am    Post subject: Reply with quote

I hope oil prices rise but not so rapidly as to cause shock and dislocation.

I would like to see oil rise to about $100 over the next few months, and then to increase in price steadily at about 1% a month.

AFAIK, Harvey has had little effect on oil production so price rises are probably due to depletion elsewhere.
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emordnilap



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PostPosted: Wed Sep 06, 2017 10:59 am    Post subject: Reply with quote

I think I saw mention of prices rising because of Harvey but can't recall where just now.

The oil price ticker is creeping up slowly but I just saw an article about homeowners should get a fill up of heating oil now to beat an imminent increase. Could be just vendor hype during a warm period.
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raspberry-blower



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PostPosted: Wed Sep 06, 2017 11:35 am    Post subject: Reply with quote

Peak Oil: We looked into the effects of Hurricane Harvey and here's what we found

Another aspect to look at in the UK is the declining value of the £
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kenneal - lagger
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PostPosted: Wed Sep 06, 2017 11:43 am    Post subject: Reply with quote

I have read in various places that Harvey has caused intense disruption to refineries and storage in Texas and this is causes shortages and supply disruption to the whole US. Also 20 tankers are said to be on route from Europe to the US with petrol to save the situation. So it's a short term disruption in supply.

The problem with a higher oil price is that it could make fracked oil and tar sands profitable and therefore increase their production. Not a good thing. As far as I'm concerned low oil price for the foreseeable future is what we want so that the US fracking companies actually go bust and that deters investment in fracking in this country.
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kenneal - lagger
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PostPosted: Wed Sep 06, 2017 11:54 am    Post subject: Reply with quote

Does anyone else think as I do that although they have sympathy for individual Americans they have no sympathy at all for the US as a nation and roll on Irma. Hope it gives them a good kick in the butt (again the real losers, who I have the utmost sympathy for, will be the Caribbean islanders who get trashed by the hurricane on its way to the US).

Gaia seems to be replying to Trump after his withdrawal of the US from the Paris agreement in the strongest way she can. Carry on Gaia! It's ironic that the first disaster after the Paris withdrawal is in the heart of oil country!
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emordnilap



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PostPosted: Wed Sep 06, 2017 12:02 pm    Post subject: Reply with quote

kenneal - lagger wrote:
Does anyone else think as I do that although they have sympathy for individual Americans they have no sympathy at all for the US as a nation and roll on Irma.


Maybe not the last four words, k-l. It's always the poorest that take the brunt and the islands are going to take a lot of Irma's sting. Florida will get the most media coverage, no doubt.

But yes, I have zero sympathy whatsoever for the regime and the culture it encourages.

I have never met an individual American I felt unhappy about meeting: I meet and know quite a number of them, both because tourism provides significant for my home county and through music.
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vtsnowedin



Joined: 07 Jan 2011
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Location: New England ,Chelsea Vermont

PostPosted: Wed Sep 06, 2017 8:28 pm    Post subject: Reply with quote

emordnilap wrote:
kenneal - lagger wrote:
Does anyone else think as I do that although they have sympathy for individual Americans they have no sympathy at all for the US as a nation and roll on Irma.


Maybe not the last four words, k-l. It's always the poorest that take the brunt and the islands are going to take a lot of Irma's sting. Florida will get the most media coverage, no doubt.

But yes, I have zero sympathy whatsoever for the regime and the culture it encourages.

I have never met an individual American I felt unhappy about meeting: I meet and know quite a number of them, both because tourism provides significant for my home county and through music.

Which cultural leadership are you at odds with?
You have the Hollywood culture with it's links through the media, Then there is the military-Industrial complex with its hold on the leadership in the government, then the bankers and wall street controlling capital followed by the medical industry intent on bankrupting each of us before we are allowed to die. Then you can move on to the fight between the religious right and the liberal left, labor vs. management, old vs. young. etc. etc.
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emordnilap



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PostPosted: Thu Sep 07, 2017 9:58 am    Post subject: Reply with quote

vtsnowedin wrote:
emordnilap wrote:
kenneal - lagger wrote:
Does anyone else think as I do that although they have sympathy for individual Americans they have no sympathy at all for the US as a nation and roll on Irma.


Maybe not the last four words, k-l. It's always the poorest that take the brunt and the islands are going to take a lot of Irma's sting. Florida will get the most media coverage, no doubt.

But yes, I have zero sympathy whatsoever for the regime and the culture it encourages.

I have never met an individual American I felt unhappy about meeting: I meet and know quite a number of them, both because tourism provides significant for my home county and through music.

Which cultural leadership are you at odds with?
You have the Hollywood culture with it's links through the media, Then there is the military-Industrial complex with its hold on the leadership in the government, then the bankers and wall street controlling capital followed by the medical industry intent on bankrupting each of us before we are allowed to die. Then you can move on to the fight between the religious right and the liberal left, labor vs. management, old vs. young. etc. etc.


Spot on vt.
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kenneal - lagger
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PostPosted: Thu Sep 07, 2017 10:50 am    Post subject: Reply with quote

I thought "Pretty much all those" as well. They have all infected the UK as well although to a lesser extent.
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PS_RalphW



Joined: 24 Nov 2005
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PostPosted: Tue Sep 26, 2017 11:43 am    Post subject: Reply with quote

Oil price up sharply on Kurds independence vote - Brent hit $59 overnight, back down to $58 now. Typically the BBC price tracker has chosen today to break.

Consumption now exceeds production globally and stocks are falling back towards normal levels from previous highs. Uptick in shale production has kept US prices pegged a bit, but globally the market is getting nervous towards geopolitical events. Outside shale, very little new oil is scheduled to come on line in the next few years, and shale oil is very light, a lot of it is condensate, no good for diesel, heating oil or jet fuel.

Electric cars are once again looking like a good investment.
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adam2
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PostPosted: Tue Sep 26, 2017 5:20 pm    Post subject: Reply with quote

Regarding the oil price chart on the BBC website not working, might I urge members to report this via the "contact us" feature at the bottom of the page. I have reported it, but suspect that more reports=prompter action.
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vtsnowedin



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PostPosted: Wed Sep 27, 2017 1:44 am    Post subject: Reply with quote

adam2 wrote:
Regarding the oil price chart on the BBC website not working, might I urge members to report this via the "contact us" feature at the bottom of the page. I have reported it, but suspect that more reports=prompter action.
Do you suspect that the powers that be cripple the reporting system when it matters most?
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fuzzy



Joined: 29 Nov 2013
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PostPosted: Wed Sep 27, 2017 7:23 am    Post subject: Reply with quote

The revolution will not be televised..
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adam2
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PostPosted: Wed Sep 27, 2017 7:41 am    Post subject: Reply with quote

vtsnowedin wrote:
adam2 wrote:
Regarding the oil price chart on the BBC website not working, might I urge members to report this via the "contact us" feature at the bottom of the page. I have reported it, but suspect that more reports=prompter action.
Do you suspect that the powers that be cripple the reporting system when it matters most?


Not really. Oil price data is available from other sources, and anyway the recent increase in prices is not that great.
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