Posted on 01/12/2015 8:56:02 AM PST by 2ndDivisionVet
"You better believe it is gonna go down more," Alwaleed bin Talal said.
Saudi royal prince Alwaleed bin Talal says in a new interview that the days of $100-a-barrel oil are a thing of the past, as oil prices continue to drop around the globe.
Asked by USA Today if prices, recently below $50 a barrel, would continue to plunge, Talal answered:
“If supply stays where it is, and demand remains weak, you better believe it is gonna go down more. But if some supply is taken off the market, and there’s some growth in demand, prices may go up. But I’m sure we’re never going to see $100 anymore....
(Excerpt) Read more at time.com ...
It’s $2.11 at the QT I pass on the way home from the gym, down 4 cents since I filled the van last Thursday. This Thursday, I may get the chance to go into South Carolina and save another 15 cents in taxes!
Saudi royal prince Alwaleed bin Talal: "If supply stays where it is, and demand remains weak, you better believe it is gonna go down more. But if some supply is taken off the market, and there's some growth in demand, prices may go up. But I'm sure we’re never going to see $100 anymore..."Pro-Putin Saudi-bashers and Iran-loving Rand/Rontards hardest hit!
http://www.freerepublic.com/focus/gop/3245939/posts?page=37#37
http://www.freerepublic.com/focus/news/3245932/posts
http://www.freerepublic.com/focus/news/3245808/posts?page=13#13
If the liquid fluoride thorium reactor does become economically viable, it would end the age of petroleum-fueled motor vehicles because there would be enough cheap electricity generated to recharge many, many millions of electric cars.
Taking the two large potential growth markets partway out of the oil market could accomplish that.
India (by 2016):
http://www.pocket-lint.com/news/129913-world-s-first-thorium-reactor-ready-to-be-built-for-cheaper-safer-nuclear-energy
China (within 10 years):
http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100026863/china-going-for-broke-on-thorium-nuclear-power-and-good-luck-to-them/
http://www.world-nuclear.org/info/current-and-future-generation/thorium/
http://en.wikipedia.org/wiki/Liquid_fluoride_thorium_reactor
http://en.wikipedia.org/wiki/Thorium-based_nuclear_power
Two events will make it go over $100 easily. The first is conflict in the region. That’s almost a certainty. The second would be the election of a Republican president. It will ‘necessarily skyrocket’ to show the ‘failure’ of his economic policies.
Dunno about y’all, but for me with my commute, it’s been like getting a $20/week raise!
That may be small to some, but still...it adds up...
The dollar buys less every year. $100 oil will happen again if by no other reason than inflation.
But boy, those must have been chilling words to see in Moscow.
That would also require a significant technical improvement in batteries. Cheap electricity is not going to be enough.
Charging time is still going to be a major factor as well.
Precicely. On all points.
What?
SA lowered oil production in 2014.
Google it.
Yep, that’s the Rome Trough. I think Cimarex hit a good well there a few weeks back.
Utter Putin nonsense.
SA cut oil production in 2014.
Russia produces more oil than SA.
I think that rumor of oil and gas below eastern KY has been around for awhile.
I got gas Friday, here in Southeast Texas for $1.79 a gallon. It’s still $1.79 today.
Nope...this keeps being brought up, but it is simply wrong.
Use of corn for ethanol simply does NOT reduce the food supply. Why?? Because ethanol production only utilizes the carbohydrate content of corn. The protein and fat portions don't just disappear into thin air....they enter the market as high quality protein and fat products of many sorts...often as feed supplements to silage or other animal food. Heck, even humans can eat it (ever used "corn oil" to fry your 'taters??).
And most of the corn planted for ethanol use is "new corn" that would not have been planted without the additional demand.
The Feds weren't suppose to be in the oil business...or the health care business...or the food business...or the insurance business...or the school loan business etc etc...
Charging time is still going to be a major factor as well.”
Exactly what I was thinking. At the present, most of us are used to spending five minutes “charging” our gasoline engines at the pump, and then driving 250-300 miles before the next “charge”. Spending 30-60 minutes at a “fast” charging station every 250 miles is a non-starter for me, no pun intended ...
And the end of the Cold War was accelerated by what the Saudis did to oil prices in the mid-80s, at the behest of the Reagan Administration.
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