Oil Prices Set To Hit 150 Dollars A Barrel In Less Then Two Years According To Bernstein Research

[PEB]

"Despite short term peaks and valleys, and a recent agreement by OPEC to ease production restrictions, the overall trend in oil prices is on the rise.

That's the conclusion of Bernstein research, an investment research company, which forecast last week that oil could hit $150 a barrel by 2020, just a couple of years from now, according to an article in the Energy Security Weekly Update.

Those levels would surpass the $147 per barrel that oil hit in 2008, and could represent nearly a doubling of today's gas prices. (Oil closed around $70 on Wednesday.)"

You best be putting some money away in a rainy day fund because the last time it went over a 100 dollars a barrel we had the biggest economic downturn in the last 1/2 century. We are talking about 6.50 a gallon for gasoline and heating oil. Russia going to be partying like it was 1979 all over again.

https://www.greencarreports.com/new...ld-double-by-2020-boosting-electric-car-sales


https://www.zerohedge.com/news/2018-07-09/bernstein-oil-may-jump-past-150-chronic-underinvestment

https://www.bloomberg.com/news/arti...0-feared-as-investors-demand-cash-over-growth

 

[Benjamin Burton]

this is why we need tesla

 

[Liquid Smoke]

this is why we need tesla

How they gonna produce the electricity?

 

[Benjamin Burton]

How they gonna produce the electricity?

nuclear power

 

[Pupi]

Not surprising at all given the economic conditions of OPEC during the last 10 or so years.

 

[OverCoronavirus Pressure]

Send the stable genius dealmaster over there with a ready bag of rhetoric and we'll soon have all the cheap oil we need

 

[MayhemMonkey]

Bring on Scottish Independence..... woop woop!

 

[Edgy Brah]

Russia going to be partying like it was 1979 all over again.

 

[Liquid Smoke]

Bring on Scottish Independence..... woop woop!

Why? Does Scotland produce a lot of oil? Maybe you guys could put a bunch of windmills all over the highlands?

 

[Liquid Smoke]

nuclear power

I'm down. It's a better bet than any other alternative energy source.

 

[Ophydian]

Not going to happen by 2020, wishful thinking.

 

[Rod1]

Sounds like they are trying to sell futures.

 

[MayhemMonkey]

Why? Does Scotland produce a lot of oil? Maybe you guys could put a bunch of windmills all over the highlands?

yup

It is important to note that the amount of oil in the North Sea is not the same as that which can be recovered, known as the barrels of oil equivalent (boe) of reserves.


One report published earlier this year by Professor Alex Kemp of Aberdeen University estimated that as much as 11 billion barrels of oil equivalent could be recovered from the UK’s continental shelf until 2050.

https://www.scotsman.com/news/how-much-oil-is-left-in-the-north-sea-1-4613094
96% of UK oil is in Scottish Waters


oh and those "windmills" produce more than 100% of Scotlands electricity needs.... we can power our entire nation on wind power. We export electricity to england

 

[MayhemMonkey]

Sounds like they are trying to sell futures.

Ayyyyyy!

 

[MicroBrew]

How they gonna produce the electricity?

Nuclear, Coal, Geothermal, Wind, Solar, Hydroelectric, Waste burning, Waves

Ann using Oil to generate electricity at power plants , which then powers electric cars, is more efficient than having every car burn the oil.

 

[Liquid Smoke]

Nuclear, Coal, Geothermal, Wind, Solar, Hydroelectric, Waste burning, Waves

Ann using Oil to generate electricity at power plants , which then powers electric cars, is more efficient than having every car burn the oil.

None of these are cheaper than digging a hole in the ground and burning some dead thunder lizards. Sorry.

 

[Rod1]

None of these are cheaper than digging a hole in the ground and burning some dead thunder lizards. Sorry.

Natural gas and coal are cheaper than gas though.

 

[Liquid Smoke]

Natural gas and coal are cheaper than gas though.

Still dead dinos though

 

[OverCoronavirus Pressure]

Sounds like they are trying to sell futures.

Disco Donny likes disco futures

 

[TheTimeIsNotNow]

None of these are cheaper than digging a hole in the ground and burning some dead thunder lizards. Sorry.

Yet