APM Wrote: ------------------------------------------------------- > I called oil bubble back then and still didn’t > expect it drop so much. For the next 3-6 months, > I gonna call long oil. The upcoming OPAC meeting > will revise down supply and the market > underestimate oil demand. > > Hope 3 months later we found my post to be right > again. At this point they can’t save themselves that much. it’s already been shown that high oil will kill demand. They either wither and die due to reduced consumption, effectively spurring on their replacement, or they accept lower revenues. At this point nobody is buying the idea of the artificial price they’ve set.
spierce Wrote: ------------------------------------------------------- > APM Wrote: > -------------------------------------------------- > ----- > > I called oil bubble back then and still didn’t > > expect it drop so much. For the next 3-6 > months, > > I gonna call long oil. The upcoming OPAC > meeting > > will revise down supply and the market > > underestimate oil demand. > > > > Hope 3 months later we found my post to be > right > > again. > > > At this point they can’t save themselves that > much. it’s already been shown that high oil will > kill demand. They either wither and die due to > reduced consumption, effectively spurring on their > replacement, or they accept lower revenues. > > At this point nobody is buying the idea of the > artificial price they’ve set. OPEC has already said they think the price of Oil should be around 100. With the global recession, they probably understand they can’t keep it that high. But once there are signs of improvement, oil is going right back to 100.
IronMan Wrote: ------------------------------------------------------- > spierce Wrote: > -------------------------------------------------- > ----- > > APM Wrote: > > > -------------------------------------------------- > > > ----- > > > I called oil bubble back then and still > didn’t > > > expect it drop so much. For the next 3-6 > > months, > > > I gonna call long oil. The upcoming OPAC > > meeting > > > will revise down supply and the market > > > underestimate oil demand. > > > > > > Hope 3 months later we found my post to be > > right > > > again. > > > > > > At this point they can’t save themselves that > > much. it’s already been shown that high oil > will > > kill demand. They either wither and die due to > > reduced consumption, effectively spurring on > their > > replacement, or they accept lower revenues. > > > > At this point nobody is buying the idea of the > > artificial price they’ve set. > > OPEC has already said they think the price of Oil > should be around 100. With the global recession, > they probably understand they can’t keep it that > high. But once there are signs of improvement, > oil is going right back to 100. It isn’t sustainable at that price. There’s too many other alternatives that become viable at that price. They just take time and money for investment.
spierce Wrote: ------------------------------------------------------- > IronMan Wrote: > -------------------------------------------------- > ----- > > spierce Wrote: > > > -------------------------------------------------- > > > ----- > > > APM Wrote: > > > > > > -------------------------------------------------- > > > > > > ----- > > > > I called oil bubble back then and still > > didn’t > > > > expect it drop so much. For the next 3-6 > > > months, > > > > I gonna call long oil. The upcoming OPAC > > > meeting > > > > will revise down supply and the market > > > > underestimate oil demand. > > > > > > > > Hope 3 months later we found my post to be > > > right > > > > again. > > > > > > > > > At this point they can’t save themselves that > > > much. it’s already been shown that high oil > > will > > > kill demand. They either wither and die due > to > > > reduced consumption, effectively spurring on > > their > > > replacement, or they accept lower revenues. > > > > > > At this point nobody is buying the idea of > the > > > artificial price they’ve set. > > > > OPEC has already said they think the price of > Oil > > should be around 100. With the global > recession, > > they probably understand they can’t keep it > that > > high. But once there are signs of improvement, > > oil is going right back to 100. > > It isn’t sustainable at that price. There’s too > many other alternatives that become viable at that > price. They just take time and money for > investment. I disagree. I think it is sustainable at 100 with an average global economy. It wasn’t at 140+.