Short term energy outlook

[64osby]

I was debating buying a TV (Suburan early 90's) or buying an old Mercedes diesel (30+ mpg) and came across this "forecast".

http://www.eia.doe.gov/steo/

I thought an interesting read, long, but with good information.

Now Lybia has shot it all to hell. Were are at $3.39 for regular. So that means it's 2013 or 2014 right now.

Then I looked at the long term forecast.

http://www.eia.doe.gov/oiaf/ieo/world.html

Boating is going to be pretty expensive in my Retirement years. Maybe have to look at wind power and take up sailing. That and get a better paying job now.

 

[rbh]

Re: Short term energy outlook

You know, there is a CR#P load of fuel out there and the speculators drive the price up for the most part.
If you have a look at things like coco, sugar ETC you will see that vast amounts of those and other crops were bought up by speculators hedging their bets there was going to be an issue either weather or politics ETC.

(By the way most of the imported fuel/oil that goes to the USA comes from Canada, we are stable, it is the other 40% thats not stable and thats were the speculators get ya!!!)

 

[PiratePast40]

Re: Short term energy outlook

^^^ It's good to hear that again once on awhile. Down here in the states, many people think of the middle east deserts when they think of "foreign oil" and that's not necessarily the case.

Now that the secret is out - are we supposed to start blaming high fuel prices on the rich Canadians??

 

[rbh]

Re: Short term energy outlook

^^^ It's good to hear that again once on awhile. Down here in the states, many people think of the middle east deserts when they think of "foreign oil" and that's not necessarily the case.

Now that the secret is out - are we supposed to start blaming high fuel prices on the rich Canadians??

I know that the federal and provincial goverments get a royalty check from the oil companies, but as was said speculators are your biggest worry

"Economic terrorism", from within!!!!

 

[64osby]

Re: Short term energy outlook

The supply chain might be fine but the global market and speculators will control the price. Lybia as an example.

 

[dockwrecker]

Re: Short term energy outlook

I was having a few beers with a friend of mine that runs drill rigs in North Dakota this evening. This same subject came up and we mutually agreed that speculators will sieze any opportunity to spread doom and gloom on the energy market. It's all about the buy in from the public. Considering that Libya only contributes less than 2% of America's oil and OPEC slowed production due to decreased demand when oil hit $140 a barrel, we stopped swilling it enough to drive the costs back down. My driller buddy certainly would like to keep the price up, but it's about that the public will bear. We will see a speculation bump here soon but I doubt it will stick for long. Sucks though, it's mainly an attempt at a quick buck.

 

[rbh]

Re: Short term energy outlook

You know there is not to many places in north america were you "CAN"T find gas/oil or coal especially on the east side of the rocky mountain trench. it all used to be a big inland sea at one time.

 

[Bigprairie1]

Re: Short term energy outlook

I know that the federal and provincial goverments get a royalty check from the oil companies, but as was said speculators are your biggest worry

"Economic terrorism", from within!!!!

Yeah....good quote Rob!! The whole world demand on commodities is making for a bright future up north here...to some degree. Everything from Oil, gas, potash, all mining activities (Uranium, etc)...even water.
That said, I believe that Canada currently supplies the U.S with over 60% of it's energy needs....so that is a pretty stable supply chain.
As for the price of gas at the pumps....I don't drive enough for it to be a personal economic pivot point. The cost of (daily) depreciation on a brand new car or truck usually equals or eclipses any daily fuel cost.
Like Rob said...it's the speculators who benefit....so consider buying some commodity/energy stocks and get in on the upside? who knows?
All Good
BP

 

[Outsider]

Re: Short term energy outlook

and thats were the speculators get ya!!!

Sooo, Canadian oil producers aren't selling oil to the US at market price, like every other country? Our refiners get some kind of price break because the stuff is from Canada? You guys are so good to us Colonials ... :facepalm:

 

[rbh]

Re: Short term energy outlook

and thats were the speculators get ya!!!

sooo, canadian oil producers aren't selling oil to the us at market price, like every other country? Our refiners get some kind of price break because the stuff is from canada? You guys are so good to us colonials ... :facepalm:

waaaaa???