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Topic: Long term OIL - page 42. (Read 91727 times)

full member
Activity: 201
Merit: 100
February 29, 2016, 03:17:47 PM
With batteries orders of magnitude better than we have today you could almost buy the car and throw it away when the battery is depleated  Cheesy

But the electrical car is still more expensive than the petrol car without help from the governments. I think it is unfair.
tyz
legendary
Activity: 3346
Merit: 1530
February 29, 2016, 02:24:03 PM
You are actually right. I correct myself. Trillions of trillions are needed.  Wink

China is forcing governmental members to use electricity cars only. And they are going to establish minimal limits for electricity cars sales.

I believe that the electricity industry is overhyped for now. It will have an impact in 10, 15 or 20 years from now. Why? The infrastructure is far away from providing the mass of people with electricity that is needed for millions of cars. Fast growing countries in Asia could not provide this. Even well developed and relatively small countries like France or Germany with a great and stable electricity network are having problems to provide this. Just look at the States for example, power loss is not an rare event. It would costs trillions to make the world ready for electricity cars.

Pure trillions won't do this. The world needs a major technological paradigm shift to make electric cars a new reality (not just a fancy toy for the riches), something like cheap superconductivity at room temperatures...

Or energy storage devices orders of magnitude more capacious than what we have as of today
hero member
Activity: 616
Merit: 503
★Bitvest.io★ Play Plinko or Invest!
February 29, 2016, 12:29:12 PM
With batteries orders of magnitude better than we have today you could almost buy the car and throw it away when the battery is depleated  Cheesy
legendary
Activity: 2464
Merit: 1145
February 29, 2016, 09:20:00 AM
I believe that the electricity industry is overhyped for now. It will have an impact in 10, 15 or 20 years from now. Why? The infrastructure is far away from providing the mass of people with electricity that is needed for millions of cars. Fast growing countries in Asia could not provide this. Even well developed and relatively small countries like France or Germany with a great and stable electricity network are having problems to provide this. Just look at the States for example, power loss is not an rare event. It would costs trillions to make the world ready for electricity cars.

Pure trillions won't do this. The world needs a major technological paradigm shift to make electrical cars a new reality (not just a fancy toy for the riches), something like cheap superconductivity at room temperatures...

Or energy storage devices orders of magnitude more capacious than what we have as of today

Please refrain from talking bullshit.
You have no clue what superconducticity at room temp would mean for mankind and why we want it.
Energy storage already works with current tech.

Stop throwing buzzwords to sound intelligent  Roll Eyes
legendary
Activity: 2464
Merit: 1145
February 29, 2016, 09:16:56 AM
So where is the oversupply of oil going when there is no storage capacity left and no reducing of supply?

You should at first answer how the US shale oil industry is going, which according to your logic should have long been dead by now

Dead? I still see ongoing 12 month in a row production decline you troll.
And that is exactly what i said and you denied Roll Eyes

http://www.ogj.com/articles/2016/01/eia-us-shale-oil-output-to-decline-116-000-b-d-in-february.html
http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/downturn-reaches-us-shale-industry-as-production-scaled-back/article28156309/?service=mobile

I will paraphrase my question:

Are you just dumb or a retard?
legendary
Activity: 3430
Merit: 1280
English ⬄ Russian Translation Services
February 29, 2016, 07:33:22 AM
I believe that the electricity industry is overhyped for now. It will have an impact in 10, 15 or 20 years from now. Why? The infrastructure is far away from providing the mass of people with electricity that is needed for millions of cars. Fast growing countries in Asia could not provide this. Even well developed and relatively small countries like France or Germany with a great and stable electricity network are having problems to provide this. Just look at the States for example, power loss is not an rare event. It would costs trillions to make the world ready for electricity cars.

Pure trillions won't do this. The world needs a major technological paradigm shift to make electric cars a new reality (not just a fancy toy for the riches), something like cheap superconductivity at room temperatures...

Or energy storage devices orders of magnitude more capacious than what we have as of today
legendary
Activity: 3430
Merit: 1280
English ⬄ Russian Translation Services
February 29, 2016, 07:27:43 AM
I want to know why OIL prices are falling if we are reaching more and more scarcity levels in this century. Is OPEC responsible for this or the markets? I could never understand with such a high demand for oil why is it going for so cheap? Personally I am all in for renewable energy myself.

Actually, they are about 25% up from the lows of January (I'm looking at Brent prices)
sr. member
Activity: 294
Merit: 250
February 28, 2016, 05:31:06 PM
Oil will obviously rise in the long term due to the diminishing supply and ever growing demand, plus the ever growing currency base.

So it's not going to be a surprise when oil does go up by a lot.
tyz
legendary
Activity: 3346
Merit: 1530
February 28, 2016, 04:25:25 PM
I believe that the electricity industry is overhyped for now. It will have an impact in 10, 15 or 20 years from now. Why? The infrastructure is far away from providing the mass of people with electricity that is needed for millions of cars. Fast growing countries in Asia could not provide this. Even well developed and relatively small countries like France or Germany with a great and stable electricity network are having problems to provide this. Just look at the States for example, power loss is not an rare event. It would costs trillions to make the world ready for electricity cars.

The industry is now having a big shift. The oil industry is becoming overpassed by the electricity industry and that's why I don't believe that oil can be a good investment
hero member
Activity: 504
Merit: 500
February 28, 2016, 04:09:13 PM
The industry is now having a big shift. The oil industry is becoming overpassed by the electricity industry and that's why I don't believe that oil can be a good investment
sr. member
Activity: 420
Merit: 250
February 28, 2016, 04:05:31 PM
I want to know why OIL prices are falling if we are reaching more and more scarcity levels in this century. Is OPEC responsible for this or the markets? I could never understand with such a high demand for oil why is it going for so cheap? Personally I am all in for renewable energy myself.
Saudi Arabia flooding the market to stop the new shale oil industry. (Maybe the US allowing production increases to mess with Russia's economy).
The end of Iran economic embargo allowing them to export Oil again.
No agreement from Opec members because of their financial situation (they all need cash, so they don't want to reduce production)
and so on...

At the end, nobody will confirm this so it's all speculation

SA is flooding but all other oil exporting countries are following up.
The US got the biggest oil reserve in 50 years. So does Russia etc.
It's all for the good I think, since now oil is a very good investment.
hero member
Activity: 616
Merit: 503
★Bitvest.io★ Play Plinko or Invest!
February 28, 2016, 03:27:36 PM
I want to know why OIL prices are falling if we are reaching more and more scarcity levels in this century. Is OPEC responsible for this or the markets? I could never understand with such a high demand for oil why is it going for so cheap? Personally I am all in for renewable energy myself.
Saudi Arabia flooding the market to stop the new shale oil industry. (Maybe the US allowing production increases to mess with Russia's economy).
The end of Iran economic embargo allowing them to export Oil again.
No agreement from Opec members because of their financial situation (they all need cash, so they don't want to reduce production)
and so on...

At the end, nobody will confirm this so it's all speculation
legendary
Activity: 2114
Merit: 1023
Oikos.cash | Decentralized Finance on Tron
February 28, 2016, 11:52:48 AM
I want to know why OIL prices are falling if we are reaching more and more scarcity levels in this century. Is OPEC responsible for this or the markets? I could never understand with such a high demand for oil why is it going for so cheap? Personally I am all in for renewable energy myself.
legendary
Activity: 3654
Merit: 1217
February 28, 2016, 11:33:40 AM
It is going to die slowly. The rig count is massively declining and the oil production is following with a little delay. New techniques make it possible to exploit wells more longer than some years ago. When most of them are drained then the production will decline fast (my opinion).

The decline in rigs is not important here. It is the survival of the fittest. Only the most productive rigs, which require the least manual labor will survive the low crude oil prices. Also, rigs producing low quality crude (such as the North Dakota Sour) will be forced to shut down their operations. That is why the oil production is almost stable, although the number of rigs have fallen by almost 70%.
legendary
Activity: 1582
Merit: 1064
February 28, 2016, 10:38:02 AM
The amount of active rigs has reached the amount from 2009. The daily production in 2009 was 1/3 of the current production. If everything is going to get normalized then the production has to fall to this level again.

This is just with respect to US production, correct? The supply side is one aspect. What we are all seeing is the effect of the demand side, given that expected offtake from global growth is not happening.
tyz
legendary
Activity: 3346
Merit: 1530
February 28, 2016, 09:27:36 AM
The amount of active rigs has reached the amount from 2009. The daily production in 2009 was 1/3 of the current production. If everything is going to get normalized then the production has to fall to this level again.
tyz
legendary
Activity: 3346
Merit: 1530
February 28, 2016, 09:13:38 AM
It is going to die slowly. The rig count is massively declining and the oil production is following with a little delay. New techniques make it possible to exploit wells more longer than some years ago. When most of them are drained then the production will decline fast (my opinion).



So where is the oversupply of oil going when there is no storage capacity left and no reducing of supply?

You should at first answer how the US shale oil industry is doing right now, which according to your logic should have long been dead by today
legendary
Activity: 3654
Merit: 1217
February 28, 2016, 03:47:27 AM
I would just invest in Bitcoin if I were you. After all you are on a Bitcoin forum, and Bitcoin is better anyway.
Yeah investing in Bitcoin would be better for you. How do you even invest in oil anyways?

He might have bought Brent crude futures or options, or he might have purchased shares of oil companies such as Shell and Exxon Mobil. The share prices have hit rock bottom, and personally I believe that it is a good time to buy them now. Keep them for the long term (may be 5 or 6 years). The shale oil is going to run out in the near future, and after that the crude prices will skyrocket.
sr. member
Activity: 378
Merit: 250
February 28, 2016, 03:08:47 AM
I would just invest in Bitcoin if I were you. After all you are on a Bitcoin forum, and Bitcoin is better anyway.
Yeah investing in Bitcoin would be better for you. How do you even invest in oil anyways?
hero member
Activity: 532
Merit: 501
February 27, 2016, 04:47:23 PM
I would just invest in Bitcoin if I were you. After all you are on a Bitcoin forum, and Bitcoin is better anyway.
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