Price of Oil | Bitcointalksearch.org

tee-rex

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Quote from: NUFCrichard on March 09, 2015, 05:32:06 AM

Quote from: Possum577 on March 08, 2015, 07:42:54 PM

Crude oil is near it's 10 year low right now, I'd buy it!

Know that crude oil should always increase in the long term as long as two truths exist: 1) The world needs to use oil, and 2) Oil continues to be considered a finite resource.

I think you have a solid play here.

I agree that the world needs to use oil, I also think that they massively over-play the imporved efficiency of the west, it is minor!
I don't agree quite as much with the finite resource part, I mean it is obviously finite, but I think at a certain price there is enough oil that can be found to keep the world going for the next few hundred years.

Oil has been there only for a hundred and sixty years (I mean since James Young had invented the process by which to distill kerosene from petroleum in 1847), and I doubt that oil can keep the world going for the next few hundred years in the way it is being used today. But that's not my point. What is more likely, in the nearest future (within the next 50 years at max) the humankind will switch from using oil as primarily fuel to something else (say, electricity).

WhatTheGox

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Quote from: Agestorzrxx on March 09, 2015, 05:33:53 AM

The Price of Oil is not on the bottom。
The price may continue to down.
The new energy make the oil can't rise too much.

Well i hope so its nice to be able to fill up the car cheaper then before, still would like to see it lower, total rip off.

Agestorzrxx

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The Price of Oil is not on the bottom。
The price may continue to down.
The new energy make the oil can't rise too much.

NUFCrichard

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Merit: 1003

Quote from: Possum577 on March 08, 2015, 07:42:54 PM

Crude oil is near it's 10 year low right now, I'd buy it!

Know that crude oil should always increase in the long term as long as two truths exist: 1) The world needs to use oil, and 2) Oil continues to be considered a finite resource.

I think you have a solid play here.

I agree that the world needs to use oil, I also think that they massively over-play the imporved efficiency of the west, it is minor!
I don't agree quite as much with the finite resource part, I mean it is obviously finite, but I think at a certain price there is enough oil that can be found to keep the world going for the next few hundred years.

Oil sands, deep see drilling and fracking are all pretty expensive and ofter don't give the same quality of oil as the traditional stuff, but there are billions and billions of barrels out there that could be brought to the surface for $200 a barrel or more.

The graph posted in the thread is interesting, supply and demand are about as far separated as has often been the case, makes me think a correction will occur.

Possum577

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Loose lips sink sigs!

Here's an interesting article about batteries as a booming alternative to oil.

http://www.foreignaffairs.com/articles/143065/steve-levine/battery-powered

Also, instead of investing just in oil you should check out Motif Investing to focus your coin on something that targets energy (oil and others). A bit of diversification.

Itun

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Quote from: Possum577 on March 08, 2015, 07:42:54 PM

Crude oil is near it's 10 year low right now, I'd buy it!

Know that crude oil should always increase in the long term as long as two truths exist: 1) The world needs to use oil, and 2) Oil continues to be considered a finite resource.

I think you have a solid play here.

Totally agree.

I can see it rising gradually for those exact reasons.

It'll probably be really profitable if you went for long term on this though.

Possum577

sr. member

Activity: 434

Merit: 250

Loose lips sink sigs!

Crude oil is near it's 10 year low right now, I'd buy it!

Know that crude oil should always increase in the long term as long as two truths exist: 1) The world needs to use oil, and 2) Oil continues to be considered a finite resource.

I think you have a solid play here.

pawel7777

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Merit: 1561

I don't really follow oil market, but can bet my pants the price have been manipulated for political reasons.

But looking only at at oil consumption/production predictions, the demand should meet the supply in late 2015, so the price should go up rather than down. Although I may be reading it wrong.

http://www.eia.gov/forecasts/steo/report/global_oil.cfm

NUFCrichard

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What does everyone make of the price of oil at the moment?

There has been a lot of chatter that we could see $10 oil, then in the next breath people say oil could return to $100 in short order. I personally beleive that it is being used as a political tool against Iran and Russia, whilst the Saudis will also be happy to get rid of some of the more expensive to reach fracking oil from the system.

The thing is, at the moment global supply is high and stores are full, which would indicate that Oil is over-priced. BUT this rate of oil cannot be profitable got out of the ground at $50-60 per barrel, so in the future prices will have to rise or we will have a short fall, so the price should start to normalize in short order.

Where do you see the price going? I invested some when Brent went under $50, but I feel slightly less confident at $60. I do think $100 will be reached in the next 5 years again, but I am after a shorter investment..

Topic: Price of Oil (Read 950 times)