Whatever happened to Peak Oil?

[CA renter]

[quote=harvey][quote=CA renter]
All that, and speculation — for both the rise and fall (viva capitalism!).

http://www.businessweek.com/articles/2014-12-03/oil-speculators-mostly-saw-the-massive-price-drop-coming%5B/quote%5D

That article was written by economic simpletons, for economic simpletons.

The price drop correlates with a selloff! How insightful![/quote]

You seem to be missing the point, pri. These speculators are always trying to get in front of the market, going up and down. They are, more often than not, the cause of booms, bubbles, and busts. Totally unproductive, and very damaging.

[SK in CV]

[quote=utcsox]The supply curve and demand curves for crude oil in short term is very steep. With oil price above $100 per barrel , fracking and oil sand is economically viable to produce crude oil. The softening global economics (China and Europe) has reduced the demand for crude oil globally. Both of these factors have contributed in a sudden sharp fall in crude oil prices in short term. Now, we will see how demand and supply adjust to price changes in long term.[/quote]

I don’t think there’s actually been any significant decline in oil consumption or demand. This drop in price has been almost entirely supply driven. The US, along with a few other countries, have upped production. Nobody has cut production, hence too much oil and no place to put it.

[utcsox]

[img_assist|nid=20427|title=|desc=|link=none|align=left|width=100|height=74]

As you can see, the current estimate of the world oil demand growth for 3Q2014 is about 800,000 barrels/day below what it was projected in June.

With surge in oil supply from fracking and oil sand, you see a large drop in oil price in the short term.

[Anonymous]

[quote=CA renter]
You seem to be missing the point, pri. These speculators are always trying to get in front of the market, going up and down. They are, more often than not, the cause of booms, bubbles, and busts. Totally unproductive, and very damaging.[/quote]

You’re right.

Speculators are a secret club that controls the price of everything.

The actually have a secret lair with a big dial that they turn to raise and lower prices.

All they have to do is turn the dial and prices change.

Most turns of the dial are accompanied by an evil laugh.

[The-Shoveler]

2015 back to the future:
In 2015 You can buy a hover board
In 2015 You will be able to buy self lacing Nike shoes

Now in 2015 skunk works plans to demo fusion reactor (Mr Fusion)
OK so it’s not the back of a Delorean, but it fits on the back of a truck.

In the long run Big Oil is doomed IMO.

[Coronita]

[quote=The-Shoveler]2015 back to the future:
In 2015 You can buy a hover board
In 2015 You will be able to buy self lacing Nike shoes

Now in 2015 skunk works plans to demo fusion reactor (Mr Fusion)
OK so it’s not the back of a Delorean, but it fits on the back of a truck.

In the long run Big Oil is doomed IMO.[/quote]

Actually, you can buy a hoverboard if you want to spend $10,000 on it…

https://www.kickstarter.com/projects/142464853/hendo-hoverboards-worlds-first-real-hoverboard

[The-Shoveler]

Well I did not say it was cheap just that it would be available to purchase LOL.

Anyway looks like Doc Brown was not too far off.

[CA renter]

[quote=harvey][quote=CA renter]
You seem to be missing the point, pri. These speculators are always trying to get in front of the market, going up and down. They are, more often than not, the cause of booms, bubbles, and busts. Totally unproductive, and very damaging.[/quote]

You’re right.

Speculators are a secret club that controls the price of everything.

The actually have a secret lair with a big dial that they turn to raise and lower prices.

All they have to do is turn the dial and prices change.

Most turns of the dial are accompanied by an evil laugh.[/quote]

You’re naive if you think that speculators don’t control markets. And some of that does involve conspiring with and against other speculators. That is a fact.

[Anonymous]

[quote=CA renter]You’re naive if you think that speculators don’t control markets. And some of that does involve conspiring with and against other speculators. That is a fact.[/quote]

Of course you have inside knowledge about how the secret economy works.

You read all about it in Rolling Stone magazine.

[FlyerInHi]

[quote=The-Shoveler]Seriously

If I had to live in a small intercity condo without a car and give up my Costco membership.

Instead of my three car garage McMansion in the burbs I think I would renounce my US citizenship and move to china, the life style would be better LOL.

Just kidding sort of[/quote]

How about living in a 3-story house in Irvine, on a small lot with a roof top terrace and canopy made of solar panels. Close to Costco, close to work and other attractions.
Maybe you would just need 1 electric car for the household.

BTW, my mom’s friend raised 2 kids without a car in a suburban community in Honolulu. Her husband has a car, but, as a housewife, she’s relied public transport, taxis and on the kindness of neighbors and friends for transportation.

Throw in a cool car/ride share app into the mix and we can easily cut the total number of miles driven.

[The-Shoveler]

OK sure that might work.

But really I would still want my own car.

Call me a throw back but I like going to Costco, loading the back of the car to the Gills then driving home and hitting the clicker to open the three car an unloading the stuff the 15 steps into the kitchen LOL.

Starting the Bar-B-Q in the yard etc…

I love living in the burb’s LOL.

to each their own, I just don’t like living in a crowded City.
A Honolulu Burb I could take however,

[The-Shoveler]

I think Car Tech will have just the opposite effect most think it will,
I think it will enable people to move further and further into the burb’s as the drive will be less congested and a lot faster when the computer takes over the driving, Plus you can do other thinks while the car does the driving like take care of email or take a nap.

Also I think Cars will become so efficient 100MPG will seem low.

[FlyerInHi]

We will see… Let’s give it 20 years.

I think that people will want to live near “town centers” like the Irvine Spectrum. There will a remake of the suburbs, some will be successful, some won’t.

I see condos and townhouses being incorporated into shopping centers like UTC.

But I don’t see the desirability of driving 50 miles one way to work.

[The-Shoveler]

I think Most Burbs in Socal within 30 or so miles of the coast will be fine and continue to grow into job centers themselves.

Other states I am not so sure, I don’t think I would buy a house in the Oil Patch as long term that is a dead end.

[FlyerInHi]

Talking about the rest of the country, areas like Columbus, Ohio are doing well near Easton Town Center. There’s a Costco!!
http://en.wikipedia.org/wiki/Easton_Town_Center

The suburbs in the rest of the state, not so much.

[Author]

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