23 years chart
scary... we need other energy sources
http://www.clasesdebolsa.com/uploads/petroleo.jpg
scary... we need other energy sources
http://www.clasesdebolsa.com/uploads/petroleo.jpg
Dislikedmost opec countries hidding thair oil reserv. or even how much oil is underground....
maybe thay have not 260billion barrels but 5 - 10 -100 times more? if so oil is overpriced...we have oil for hungred years...
some ppl saying "oil peak" is a fact...Ignored
QuoteDislikedBut why Russia is not in OPEC and selling as much as thay can ?
There are 2 theories... oil is running out and 2nd one (russian) there is a 2nd ecosystem deepo underground where nonoxygen bacteria take methan from rocks and prod. oil... so oil cannot be out or we have much more oil than some greed ppl estimates...
its easy... US dont want to Curb oil consumtion... like EU after Iranian crisis long time ago....
opec gets $ dollars... thay cannot spend (now maybe in catar...) all thay can do is... getting US bonds/tbils/treasuries and stuff like that... So in my opinion US car drivers when buying oil for 3$/gal 2,5$ is returning to US gov... hidden tax... Why no diesel in US or even cars with low oil consumtion ?
DislikedI don't think several countries are hiding their reserve oil. I know the US is keeping tabs of how much to release their oil reserve to the consumers because of the uncertainty of when we are going to run out of oil. The US does not have that big of a tank of oil to run the country mainly on oil. The world needs other alternative fuel sources. Once, those fuel sources are steady reliable and usable, the oil price will be coming back down. But for now, I don't see the competition with oil any time near the future.Ignored
DislikedBrazilian Petrobras has reported several huge reserve findings. They did dick for oil price.
It's all about dollar weakness and speculation rather than anything else, imho.Ignored