Topic: THE OIL AND GAS BUBBLE IS ABOUT TO POP!!! (Read 11451 times)

You didn't read my comment properly please reread it again.

I suggest you to look at US Oil importation production, and Shale Oil production in the last 4 years, also check out, the production for shale oil in the US, maybe you'll understand, I also invite you to check out the Shale oil revolution plan by the whitehouse

And for good measure and read :
http://online.wsj.com/articles/saudi-oil-price-cut-upends-market-1415063053
http://www.globalresearch.ca/the-collapse-of-oil-prices-has-washington-just-shot-itself-in-the-oily-foot/5412265

It was more like 2010 when gas was this low. When Obama was elected in late 2008 gas was ~$1.80 per gallon.

It still has a very long way to drop until gas will get back to levels seen at the beginning of the Obama administration

I could personally give a crap less about the rich ass Saudis. But I sure have been enjoying paying $2.75 a gallon for gas lately. Hell, when was the last time gas prices were this low? 2008? 2009?

Mostly true. There are some pretty dumb cats out there too. All my cat does is eat, poop, piss, and scratch the shit out of me when I try to pet him. He doesn't seem too smart to me. 

It also affects your #1 ally - Canada.

We brought you oil when everyone else hated you.  Now you do this???

At least everyone still needs plastic (made from oil)!   

Yes, that is exactly my point. A spike in the price of oil would cause the US economy to rapidly slow down as people ship less items and use less transportation (drive less and go on vacations less). However a more gradual increase in the price of energy would cause the US to invest in other sources of energy like nuclear power

Remember that the US is the world's top importer of crude oil and other petroleum products. Any fall in crude prices is going to be beneficial for the US, while affecting the Saudis negatively.

I think it would be backwards for Saudi Arabia to "punish" the US by having energy prices low. It is especially backwards to keep it low in order to delay the development of new technology of extracting oil.

Higher oil prices would have a much worse impact on the US economy and the US government over both the short and long term, especially sharply higher oil prices (just think of what happened in the 1970's oil/gas crisis.

No it is not.

The reason why Oil and Gaz prices are low is due to Saudi Arabia strategy to punish the US for it new oil policy (shale and what's not) and of course political reasons such as the US getting closer to Iran....

By keeping Oil prices low, Saudi Arabia mainly is making investement and breaking even point of shale oil and other alternative very difficult and Saudi Arabia is ready to keep the price low for a couple of years if it needs two, other countries like Venezella or Algeria ...ect cannot afford that

This was the best part

Good job OP

Great call.
We are already at a cross point where solar energy is almost cheaper than oil derived one, I think by the end of the next year we will see an enormous increase in solar technology adoption around the world that will make what we saw this year look very tiny in comparison. By the end of 2016, at least in my country (Italy), I'm confident many condos will use solar instead of normal electricty and will become completely indipendent from national providers soon after.

of course, with increasing technology, the more the invention of more sophisticated and efficient, fuel efficient than a very appropriate choice, as we all know that the longer the non-renewable energy reserves such as oil and coal are dwindling and increasingly depleted , so in the end we need renewable energy and there must be a technology that supports the energy, such as solar energy, solar emergi long predicted will still end

necessary technology capable of utilizing solar energy, for example, research on solar-powered cars, solar powered car, or a solar-powered aircraft, hopefully scientists can immediately issue a technology that refers to the future ... 

CALLED IT

They now have a source of renewable material to make solar panels out of, so they will get cheaper. They can make them out of Crab Shells now, and when you make them out of Crab Shell you can make them curved, therefor getting more light than you otherwise would.

There is new technology. There are now Solar Panels that use sheets of glass or plastic that work like magnifying glasses, then you don't have to spend as much getting a large panel, because you just have to have enough to fill the focal point.

Unless they are a Friedcat ha-ha kid anyways the Oil price is high till the summer ends at least
http://www.wtrg.com/daily/crudeoilprice.html

101.67 ATM

The US is dependent on oil imports for around 40% of its (massive) annual consumption.

 It turns out that the US is spending $114 to extract a barrel of oil (blame it on shale) - whilst the Venezualans, for eg., can knock it out at $20 a barrel 

   According to Sanford C. Bernstein (Wall Street) “Net income margins in the sector (US oil extraction) are now at the lowest in a decade - This is not sustainable. Either prices must rise or costs must fall,”     [we must agree also that Bernstein don't give a shit about the politics, they are only interested in the dollar - and so in this respect I'd cite them as a reliable source here].
       [ http://www.ft.com/cms/s/0/ec3bb622-c794-11e2-9c52-00144feab7de.html#axzz2sN5MfMfp]

    At this rate the US will be having to subsidise domestic oil extraction from the public purse and so be in danger of getting in hock to the Chinese for another trillion dollars - oh, wait a minute, it seems they effectively already are subsidising it http://www.investopedia.com/articles/07/oil-tax-break.asp.    http://priceofoil.org/fossil-fuel-subsidies/. In other words - domestic US oil production is not profitable.

    As much as I admire the average Americans willingness to transfer their hard earned dollar directly to the coffers of BP, Exxon, Chevron, Shell and ConocoPhillips , all in all the outlook doesn't look too promising does it ? - and there you have right on the doorstep, not a stones throw away, those horrible Commi Venezualans sat on the worlds largest reserves of crude - at $20 a barrel to extract , selling the stuff cheap to the fuckin Cubans and using the income to help their own poor and disadvantaged.


 I suppose what I'm driving at is that in a global and competitive economy the superpower nation is not that nation which is paying $120 per barrel when others are paying $50. The whole of US foreign policy is directed toward securing that cheap oil . Not paying top dollar - for in that course of action lay bankruptcy.

doesn't matter

cats understand everything we say, they just don't obey [read it somewhere]

humans understand something the authority says, we obey

that's the difference

people think what the authority wants them to think simply because they're uninterested in the subject

The problem here is you assume the average person is smarter than a cat.  Well they are not.

If new technology is invented, then surely the prices will drop. But that can take many many years... probably a few decades. Right now, the raw materials which are used for the manufacturing of solar panels are prohibitively expensive.