Who’s Ready For $30 Oil?
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Jack Delano Spectators at annual barrel rolling contest in Presque Isle, Maine Oct 1940 How low can and will oil prices go, and what will the effects
[See the full post at: Who’s Ready For $30 Oil?]“There won’t be another $50 Trillion.”
Don’t bank on that.
There will be “Whatever it takes” until all resources are under such pressure prices explode. Then the Central Banks will get what they wanted all along. Call it what you will, I’ll call it devaluation of currencies.
Like Professorlocknload, I tend to think that they will just keep printing … until they cannot. Japan is their prototype.
This is too funny.
Now will this happen before or after the 90% collapse in Canadian Real estate which was set to happen in 2010.
https://www.businessinsider.com/canadian-housing-bubble-2010-12Really awesome comment as the prices were rallying out of the bottom.
Of course being wrong for a decade punctuated with a brief 6 months of glory has not stopped you. So party on. If you get $50 average oil price for 6 months I will donate a $1,000 to your site.We know that the cost of shale oil is $60/barrel? No one ever shows their work on this issue.
I say higher:
https://www.dmr.nd.gov/oilgas/stats/statisticsvw.aspIf it is $60, no worries right now just a lower profit margin. If higher, drillers are strongly negative cash flow. I used to think that mattered, but maybe not. Government can always subsidize a little more.
If subsidies reign, then we’re looking at energetic limits. Less energy recovered in the extraction than in the input.
Personally I’m sceptical we will see oil at $30 dollars/barrel let alone $40, $50 or even $60/barrel for very long, if at all, because the US shale oil industry would be bust well before the Saudi’s started to feel serious financial pain, and they too would not escape either, just arrive at the same point a little later. Gail Tverberg recently wrote a good article exploring the issues from falling oil prices in Oil Price Slide – No Good Way Out; link below.
Oil Price Slide – No Good Way Out
Based on Figure 7 the article implies that Saudi Arabia needs oil prices within a range of c. $80-115/barrel, and below the lower price they too would be in trouble with the prices you suggest may be possible. The reason being that at some point they would be forced to cut back on the level of subsidies needed to keep their growing population “quiet and happy”. Interestingly Figure 6 shows that since the early 1990’s their modest increase in oil output has been taken up by increased internal oil consumption explaining why exports have remained fairly flat; a good example of the increasing impact the Export Land Model will have on exports.
If they want oil to stop falling and stabilize, or rise, it will. The “they” being those who want higher stock prices,low interest rates, low gold and silver price, etc. I don’t particularly buy that ‘they’, the Fed in one case, are in the stock futures at all times or even ever, directly. It’s more a matter of consensus and will.
So oil at $30? Only if ‘they’ lose control. With $XX trillion at the ready it doesn’t seem likely.
>>“There won’t be another $50 Trillion.”
Don’t bank on that.
There will be “Whatever it takes” until all resources are under such pressure prices explode. Then the Central Banks will get what they wanted all along. Call it what you will, I’ll call it devaluation of currencies.<<
Hi Professor, I have some questions I’d like you to answer to suss out the foundation of your articulated belief system…
1. Why do you believe the Federal Reserve or the other Central Bank agents are telling the truth when they say they want something? They have a history of lying – they’ve lied about their true Section 2A Mandate for 30 years running.
2. What does the corporate structure of the Federal Reserve reveal to be the CONTROLLERS of the Federal Reserve system? Are a few Big Banks the shareholders of the Federal Reserve corporation? Do the majority OWNERS of the few Big Banks exert control over the Big Banks that own and control the Federal Reserve?
3. How do the OWNERS of the trillions in cash and trillions in debt benefit from hyperinflating the currency?
4. Is Council on Foreign Relations historian Carroll Quigley right when he, after extensive research with the CFR library, claims the following:
“The powers of financial capitalism had (a) far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland; a private bank owned and controlled by the world’s central banks which were themselves private corporations. Each central bank… sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world.”
– Carroll Quigley, member of the Council on Foreign Relations
“It must not be felt that the heads of the world’s chief central banks were themselves substantive powers in world finance. They were not. Rather they were the technicians and agents of the dominant investment bankers of their own countries, who had raised them up, and who were perfectly capable of throwing them down. The substantive financial powers of the world were in the hands of these investment bankers who remained largely behind the scenes in their own unincorporated private banks. These formed a system of international cooperation and national dominance which was more private, more powerful, and more secret than that of their agents in the central banks. ”
– Carroll Quigley, Tragedy And Hope
If Quigley is right, the whole Federal Reserve system is one big Sun Tzu Art of War deception that amounts to a Debt Money Monopoly Trojan Horse system.
My view is that the bankrupting America and seizing its physical assets through forfeiture benefits these criminals more than zeroing out the value of their trillions in debt paper and trillion more in debt receipt money held by the mega corporations they control.
The idea these people are “stupid” and “don’t know what they are doing” such that they will “zero out their own wealth” to assist the hoi polloi is indicative of someone who actually believes the Rockefeller engineered false narratives promoted in the schooling system he helped to engineer and finance.
For more on that scam, I highly recommend John Taylor Gatto’s Underground History of America Education free audio book.>>Really awesome comment as the prices were rallying out of the bottom.
Of course being wrong for a decade punctuated with a brief 6 months of glory has not stopped you. So party on. If you get $50 average oil price for 6 months I will donate a $1,000 to your site.<<Ha – the irony of that statement is that if this actually occurs then you might not be able to afford the $1000 donation any more!
I highly recommend the following audio book..
Memoirs of Extraordinary Popular Delusions and the Madness of Crowds
https://librivox.org/search?q=madness%20of%20crowds&search_form=advanced
If anyone has a good reading voice and decent recording equipment, it would a good volunteer opportunity to read for LibriVox.@ TheTrivium4TW
Thanks for that link, radio4all. Pure gold.
Being in another sphere, far, far away, books in English are not at hand. And hugely expensive to ship, so this is great.On the other hand, here’s a forecast for you: https://www.thehillsgroup.org/depletion2_022.htm
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