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

MayhemMonkey said:
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Bring on Scottish Independence..... woop woop!
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Keep dreaming, love.
 
It won't and can't hit that price. There are too many reserves that become economically before you hit $150. Oil activity just in Texas starts flaring up around $65 a barrel. I can't find the quote and someone correct me if I am wrong but Texas has larger reserves than Saudi Arabia. It just is more expensive to pull it out of the ground and refine it. The world has massive reserves but just not that much oil that can be pulled out of the ground for $8-12 a barrel. Oil companies at talks talk about crossing peak DEMAND of oil. They know things are going to slide over to electric and what have you but oil is likely never to peak again like it did from 2010-2014 or that run up to $140 a barrel 2007-2008.
 
danny23 said:
Keep dreaming, love.
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The biggest fear of Scotland's independentists was being barred from the EU, something that its quite likely to happen nonetheless.

So either May bends the knee to the EU or Scotland is out.
 
PEB said:
"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
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Berenstain Research says five years.

BEAR-FAMILY.jpg
 
Letssnuggle said:
Awesome!!! I own Exxon stock.
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Why do you think Saudi Aramco ,who produces 10% of the world's oil, is trying to setup an IPO to sell off ownership?
 
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The fact that car companies(especially Ford) continue to increase the number of truck and SUV models makes me doubt that gas will ever reach that price in the near future.
 
PEB said:
"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
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LMAO

https://knoema.com/yxptpab/crude-oil-price-forecast-2018-2019-and-long-term-to-2030
 
Prefect said:
It won't and can't hit that price. There are too many reserves that become economically before you hit $150. Oil activity just in Texas starts flaring up around $65 a barrel. I can't find the quote and someone correct me if I am wrong but Texas has larger reserves than Saudi Arabia. It just is more expensive to pull it out of the ground and refine it. The world has massive reserves but just not that much oil that can be pulled out of the ground for $8-12 a barrel. Oil companies at talks talk about crossing peak DEMAND of oil. They know things are going to slide over to electric and what have you but oil is likely never to peak again like it did from 2010-2014 or that run up to $140 a barrel 2007-2008.
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That's what kept the oilsands from being developed for so long. I remember learning about them in the 80's and being told they'd never be developed because it was too expensive. I guess they didn't oil going as high as it did.
 
Liquid Smoke said:
None of these are cheaper than digging a hole in the ground and burning some dead thunder lizards. Sorry.
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Its almost like we ought to be ramping back on fossil fuels and leading the world in investment for producing cost effective green energies.
 
Liquid Smoke said:
None of these are cheaper than digging a hole in the ground and burning some dead thunder lizards. Sorry.
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How do you know some of those sources aren't cheaper? Do you have a study in mind?

In America, Hydroelectric power costs 60% less per kilowatt hour than Fossil fuels.
  • Hydropower is the most efficient way to generate electricity. Modern hydro turbines can convert as much as 90% of the available energy into electricity. The best fossil fuel plants are only about 50% efficient. (1)
  • In the U.S., hydropower is produced for an average of 0.85 cents per kilowatt-hour (kwh). This is about 50% the cost of nuclear, 40% the cost of fossil fuel, and 25% the cost of using natural gas.
http://www.wvic.com/Content/Facts_About_Hydropower.cfm
 
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Well that would be great for my paycheck. A big chunk of my clients are oil and gas so I'm not totally upset.
 
MicroBrew said:
How do you know some of those sources aren't cheaper? Do you have a study in mind?

In America, Hydroelectric power costs 60% less per kilowatt hour than Fossil fuels.
  • Hydropower is the most efficient way to generate electricity. Modern hydro turbines can convert as much as 90% of the available energy into electricity. The best fossil fuel plants are only about 50% efficient. (1)
  • In the U.S., hydropower is produced for an average of 0.85 cents per kilowatt-hour (kwh). This is about 50% the cost of nuclear, 40% the cost of fossil fuel, and 25% the cost of using natural gas.
http://www.wvic.com/Content/Facts_About_Hydropower.cfm
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Hydro is great, but obviously it is limited to where damns can be built and at what size capacity.

Another benefit that Hydro has is that they are easy to adjust in terms of their output. The water behind the damn stores up all the energy so it can be used when there is high demand. From what I understand it is not so easy to adjust large power plants like coal or oil.

There are of course environmental concerns that get raised and protested for Hydro projects, as with most things. Habitat destruction primarily.
 
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