The price of oil has long been a key indicator of economic health and stability. And that index is tanking fast.
In the last few years, dramatic overproduction of oil has become a major tool of geopolitical conflict.
As prices have plummeted from $110/barrel to $40, Americans have tapped huge sources of fracking and flooded the market; OPEC and the Saudis have continued pumping despite dropping prices; Russia, dependent upon oil for its economy, has been under siege via sanctions and bottom-level prices; ISIS and other terror organizations are undercutting everyone with illegal oil sales and China remains large in the whole affair.
Proxy wars and threats and rumors of world war have accompanied bitter economic warfare over currencies and energy. Now, oil is at a record level of glut, and nearly every storage facility in the world is filled past capacity.
The London Telegraph reports:
The world is running out of storage facilities for surging supplies of oil and may soon exhaust tanker space offshore, raising the chances of a violent plunge in crude prices over coming weeks, experts have warned.
Goldman Sachs told clients that the increasing glut of oil on the global market […] could send prices plummeting to $20 a barrel, the so-called ‘cash cost’ that forces drillers to abandon production. “Risks of a sharp leg lower remain elevated,” it said.
[…]
It is estimated that at least 100m barrels are now being stored on tankers offshore, waiting for better prices. A queue of 39 vessels carrying 28m barrels is laid up outside the Texas port of Galveston, while the Iranians have a further 30m barrels offshore ready to sell as soon as sanctions are lifted.
“The world is floating in oil, and commercial stocks on land are at a record high,” said David Hufton, head of oil brokers PVM Group. “The numbers we are facing now are dreadful. Stocks have been building continuously for two years. This is unprecedented.”
Already $40 barrels of oil has put major stresses on the world, and right now tankers filled will oil are lined up off the coast of Galveston, Texas, and will be waiting there indefinitely for many months. It is enough to drive oil and fracking firms out of business, and is currently resulting in a flood of layoffs – contributing to further joblessness and economic downturn, or perhaps outright disaster.
Hold on tight, things may be getting rocky indeed. Until then, enjoy the easy pump prices.
Read more:
Pink Slips: 100,000 Jobs Wiped Out Amid Oil Price Collapse: “Spreading Like Cancer”
Oil Endgame? Pushing Point Where “Exporters No Longer Able to Fund Their Welfare States”
Oil Collapse: “This Could Cause The Most Destructive Economic Situation Since the Great Depression”
Let it get to 10$ a barrel, great for us consumers…
Be well all…
One would think so, but I don’t see the drop reflected in current prices at the pump. The banksters are still raking in money off our need to drive to work etc.
“People as uninformed and as gullible as Americans have no future. Americans are a dead people that history is about to run over.”
Dr. Paul Craig Roberts
And the so-called “Preppers” and SHTFers are included in this statement.
and you’re from where, some cave in Afgan?
awaiting moderation??? I’ve only posting one here about 6 yrs off and on, maybe you people better catch up with the world
Gasoline under $2/gal. The lowest I have seen it recently is $1.89. Other asset prices should be crashing soon, it might be time to take out a BIG line of credit and scoop up some bargains as everything goes South in the next three months.
Sorry, Daniel, its STILL not time to buy junior mining stocks. Gotta wait until there is much more blood on the street and measures up to a horse’s bridle; if you catch the reference. 🙂
” it might be time to take out a BIG line of credit and scoop up some bargains as everything goes South in the next three months.”
Everyone these days has his or her timeline and yet those dates tend to pass away into history, nothing outlandish happens and it’s BAU. I expect more of the same 3 months from now.
Rodster: Its finally reaching a tipping point. The economy is in REALLY serious decline. There must be a miracle Christmas increase in demand beginning on or before Black Friday. The benefits from additional QE has passed a point of diminishing returns for every dollar printed.
BTW folks, someone here said TWO YEARS ago that the world was AWASH in oil, and took a lot of flack for that. Who was that masked man ???
Just asking. Its in the archives. 🙂
It isn’t in idaho
In the Cleveland, OH area gasoline is as low as $1.75
Here we go again—the annual Christmas season degradation of Jesus Christ by H✡llyw✡✡d
http://revisionistreview.blogspot.com/2015/11/new-christmas-movie-is-cinematic-toilet.html
Nothing but Hollywood sellout whores.
These hypocritical mocking whores will do anything and I mean anything for fame. These people want to be legendary actors but they are a dime a dozen. I don’t deal with mockers lightly and I really hope no one says Happy Holidays to me because they think Merry Christmas is offensive.
Christmas is paganism research it nothing to do with the lord JESUS CHRIST!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
WHO WOULD BLOCK A DEFENSE OF CHRISTMAS?
Since there is no date for the Nativity recorded in Holy Scripture, we rely on the testimony of the Church Fathers and of history to get an answer to the question, ‘When did Christmas take place?’
“First, let us see the essential significance of the Savior’s birth at the time usually attributed to it. The winter solstice, the astronomical event which recurs every year, is traditionally said to be the birthday of the Messias. To elucidate the meaning of this fact, we will turn to Saint Gregory of Nyssa (+ 385 or 386): ‘On this day, which the Lord hath made, darkness decreases, light increases, and night is driven back again. No, brethren, it is not by chance, nor by any created will, that this natural change begins on the day when He shows Himself in the brightness of His coming, which is the spiritual Life of the world. …’ (Homily On the Nativity)
“Saint Augustine, a Western Father, concurs with Gregory, the Easterner: ‘Let us, my brethren, rejoice, this day is sacred, not because of the visible sun, but because of the Birth of Him Who is the invisible Creator of the sun. He chose this day whereon to be born, as He chose the Mother of whom to be born, and He made both the day and the Mother. The day He chose was that on which the light begins to increase, and it typifies the work of Christ, who renews our interior man day by day. For the eternal Creator, having willed to be born in time, His birthday would necessarily be in harmony with the rest of creation.’ (Sermon On the Nativity of Our Lord iii) Similar sentiments are echoed by St. Ambrose, St. Leo, St. Maximus of Turin, and St. Cyprian…
“Lest anyone find all this Astronomy to reek of paganism, we remind him that in Genesis, it is recorded: ‘And God said: Let there be lights made in the firmament of heaven, to divide the day and the night, and let them be for signs, and for seasons, and for days and years: To shine in the firmament of heaven, and to give light upon the earth.’ Further, the Magi, those holy men from the East, who came to greet the Expectation of the Nations, were led thence by a star.
“’But,’ you may say, ‘the winter solstice is on the 21st of December, not the 25th.’ Correct. But if, from the time of the Council of Nicea (325) to that of Gregory XIII’s reform of the calendar (1582), there was a 10 day discrepancy between the calendar and the actual astronomical pattern governing it, then it is entirely possible that a four-day discrepancy had occurred between our Lord’s birth and the Council. We illustrate this possibility as follows: The calendar that many of the Greek schismatics still follow (the Julian calendar), is presently fourteen days off from the Gregorian. This additional four day discrepancy from Gregory’s time has happened over about 400 years….”
In Defense of Christmas
by Brother André Marie June 27, 2005
http://catholicism.org/defense-of-christmas.html
THE FIRST AMENDMENT DOES NOT APPLY TO FUCKING ISLAM
Religion: (1)the service and worship of God or the supernatural (2)commitment or devotion to religious faith or observance (3)a personal set or institutionalized system of religious attitudes, beliefs, and practices.
60% of the trilogy of Islamic texts deals NOT WITH MUSLIMS BUT ON HOW TO SUBJUGATE THE KAFIR (INFIDEL). 81% of the fucking Sira is about JIHAD.
THEREFORE
Islam is not a fucking religion; Islam is a totalitarian political system which is a perfect hybrid between communism (usury is illegal under the Shariah) and fascism (the Kafir has no civil rights).
THE GOVERNMENT ALREADY MONITORS THE AMERICAN NAZI PARTY THE MILITA MOVEMENT AND THE AMERICAN COMMUNIST PARTY AS DOMESTIC TERRORIST GROUPS.
THEREFORE
The government can and should monitor Muslims as a domestic terrorist group.
STOP THIS FUCKING NONSENSE ABOUT FREEDOM OF RELIGION. ISLAM WANTS TO RULE THE WORLD UNDER TOTALITARIANISM. FUCKING GROW UP YOU DUMB SHITS.
Muslims have no place in white lands.
THE DAILY JIHAD
Mein Kampf is 7% anti-Semetic; the Koran is 9% anti-Semitic.
In Mecca lived no Jews. Medina was 50% Jewish.
When Muhammad preached in Mecca he claimed he was another prophet in the Jewish line and that the Jewish angel Gabriel commanded him to preach. The Meccan scripture is replete with twisted versions of earlier scriptures that Muhammad heard on his merchant caravan trips to Syria. There were no Jews to contradict his stories in Mecca.
Muhammad was thrown out of Mecca for being a pain in the ass. In Medina the Jewish population did not believe his stories because his stories did not match the earlier revelations of scripture given to the Jews. They rejected him and he wanted revenge.
“Muslims have nothing whatsoever to do with terrorism.” -Islamic Scholar Hillary Clinton
DID MUHAMMAD EXIST?
Muhammad died in 632. Muhammad’s name is mentioned 4 times in the Koran written 15 years after his death. Muhammad is not mentioned anywhere else until 691, even though Muslims controlled bassa, bagdad, dmascus, Jerusalem, and cairo. These cities produced voluminous written works. Why no mention of Muhammad? The Sira (biography of Muhammad) was written in 900, 3 centuries after Muhammad died, thousands of miles away from Mecca. There are about 2000 minor and major differences between early copies of the Koran and modern copies. Nobody knows what the major differences are because Turkey has the ancient scripts and wont allow scholars access to them.
Medina is not mentioned until 800 AD. the Greek geographers were very good at cataloging foreign people, temples, and cities. The Greeks traveled all through Arabia and certainly would have mentioned Mecca if it was there. Mecca was never part of The Silk Road, yet the Koran states that Mecca got rich by connection with the Silk Road. For the first 200 years of Islam, all the mosques face Petra, not Mecca. The physical description given of the prophets homeland sounds nothing like Mecca, but matches Petra to a T.
Certainly a warlord conquered Arabia in the 7th century.
King David existed as a historical figure. There is no archeological evidence that the Jews were ever in Egypt. There is evidence of the Babylonian captivity.
35% of sheeples say ISIS represents Islam.
ISIS publishes a monthly magazine that will tell you chapter and verse to justify every single action they take.
Allahu Akbar bitches
Allah loves it when you kill random people.
Let’s let as many of them into the fucking country as we can.
Obama is a fucking Muslim his ring has an Islamic inscription.
Damn it Acid I agree again. Fucking Islam is not a religion. It is a gang. All the same rules apply, from the bitches, to how they handle those that try to quit.
Ohhhhh…I get it. How obvious. Acid etch drops acid and starts pounding away on his computer. Purple dots and reason are a tough combo. I am going to use your writing techniques minus the hard core drugs. Merry FUCKING Christmas and FUCKING FUCK happy fucking fuck new year. Peppering my writing with fucking fuck words fuck is so much fun and fucking fuck really adds to my fucking credibility. It illustrates my anger in a 8th grader sort of way and shows my fucking creativity and fucking damn fuck right displays my intellect.
If you think the inclusion of curse words negates the logic of a scholarly argument, fuck off, idiot.
No; I think anyone so vocabulary limited as to need to talk like you do, is not smart enough to be included in conversation.
Your vocab is just as limited if you can’t use a certain word
I love it. Acid said to fuck off. How brilliant and eloquent. Acid should join toastmasters and share his outstanding parroting of the Internet adding the word fuck a lot. If acid throws in some fucks, it won’t be easy to notice his plagerism. You are a literary God acid.
Hey Anonymous!
You give Ass’d itch too much credit as being an 8th grader…I was thinking a 5th grader status was too “intellectual” for him.
Anyone can look up anything on google search and find info and post it to make themselves feel and appear smart.
The closest thing AE/Eisenstein gets to smart is ‘smart-ass”.
Here is a couple of his posts to just re-confirm what i have said about him is true, that he is a sick psycho maniac.
Acid Etch says:
Comment ID: 3448893
September 19, 2015 at 7:03 pm
TEST,
Hillsdale College is offering a number of free online courses now I think would be right up your alley. If not, you could let me up your alley. BWAHAHAHAHAHAHA RAINBOW POWER.
Acid Etch says:
Comment ID: 3467889
November 2, 2015 at 12:16 pm
I hope you starve to death in the collapse.
Now the severe degrading of women by AE, has finally been limited to other sites and places, because of fallout from readers here, but he did a plenty here in years past. he is not the shining example some make him out to be. He is a twisted individual just as his atheist protege’ wwti. They are the types to be avoided by all means in the collapse because they could snap at any minute and become a real hazard. I think they both are on hard drugs and it is evident by their twisted and haphazard style of posting. WWTI, still lurks around under different monikers, trying to trip me up and get me to reveal my true identity. Why, do you think?
Because he is a twisted individual and my comments, as those to Acid, makes them take a look at their iniquities and closeness to Satan and eternal death, and they don’t like it. They would like me dead, or at least to go away, and never return.
Here is what I say….I may go away, but the truth of who and what you two are is never leaving.
Ever wonder why it seems most of the people that follow a LGBT and/or atheist, lifestyle, have all the money and things they want? They are blessed with financial rewards by following Satan’s lie…. “you will surely not die, you will be as God”. Satan’s demonic spirits can, and does, make that happen. The demonics always provide the drugs these losers want and need to fill the void in their souls.
Sorry Braveheart, to bring you up, because I really do like you and have enjoyed your comments; but the continued praising of AE’s comments and such is getting old. Every time, you people praise him and tell him how smart he is, it just empowers him to do more searching and posting and swearing…fuck fuck fuck. he doesn’t need more enabling and that is what all queers want is for people to make them feel special and put them on pedestals so they can push their agenda on everyone and get away with it. Those days are soon coming to a close and every human that has catered and supported them and their sick lifestyle will have to answer for it.
Yea, i use fuck when i feel it necessary to make a strong point. AE uses it all the time because he has it on the brain, and like an adolescent child, teenagers think it makes them look big and give credentials to their rants.
I see through all his little ploys and tactics, just like the atheist wwti’s. They will have a bad day coming when the Redeemer arrives, or if they get a “checking out now” sign, when they arrive at the gates, sadly it don’t appear to be pearly gates at the rate they are going.
You’re the WORST anonymous I’ve ever seen anywhere. I’ll take acid over you.
LMAO
@ Acid Etch and critics of
https://youtu.be/jqN5A–G0AQ?list=PL434EA75C7EFFBBB8
“Political Islam” lecture in Simi Hills, CA (part 1 of 9)
Bill Warner, (Ph.D, physics) of the Center for the Study of Political Islam, Nashville.
There are half a hundred videos from political islam.com on Youtube. This morning I ordered several of his books.
Its no coincidence the Yuan will become the reserve currency just one business day after Black Friday. They are hoping to mask the effects.
Truthfully I don’t know what the quantitative effect will be. I can tell you for sure the US is about to get its ass kicked. This will be “interesting”.
“May you live in interesting times.” – Chinese curse
I think this is George Bush’s fault…..
All kidding aside, I think the oil price is a true measure of unemployment.
Demand for oil has collapsed because nobody has any money and everybody is loosing their jobs.
No money = no buying gas = drop in gas price.
Is great for me, electric bill is dropping and is much appreciated.
Talmuds fault me thinks
Went by the same “park and ride” for the last three days on the way to customer’s homes. Those P&R’s were damn near empty when just last year they were full where people met to catch rides to work with co-workers. Sad. Also, I am filling up plastic 50 gallon drums with diesel and treating it for storage. One day we might wake up and find the world at war and fuel tripled.
W. was without doubt the worst President in History. Even worse that Obama, and that’s very difficult to do.
There is nobody worse than obama, and he still has one more year!
Taxn2poverty
Obama’s term is not over yet. Hahahaha!
The low hanging fruit has been picked. In order to grow the eCONomy you need cheap oil. So you say well that’s what we have right now, problem solved. Not quite because we are at a crossroads with industrial civilization. The low hanging fruit is gone and now it costs more money to pull the oil out of the ground.
The other problem is that in order to grow the eCONomy you need cheap oil but wages need to rise. The fact is neither is happening so consumers wages are going down and oil prices need to be higher, much higher.
That’s why oil prices are low and could go much lower. The consumer can’t afford it and the producers can’t sell it at the prices they need it to be at. And there is NOTHING available or in the foreseeable future that can replace oil and run the global eCONomy. So yes, this can get real dicey because governments can default such as Russia, Saudi Arabia and others.
OVOMIT’s low hanging fruit gets sucked, not picked.
!!!!
At $40 a barrel, gas is around $2.25 a gallon, let it plummet to $20 and really give us a break. Natural gas can drop to $2 a therm and propane to $0.79 a gallon anytime, as well.
http://islammonitor.org/index.php?option=com_content&view=article&id=3312:islams-indian-slave-trade-part-i-in-islams-genocidal-slavery-&catid=170&Itemid=67
https://en.wikipedia.org/wiki/Peter_Nolasco
More Shitlam studies
Even with low oil and gas prices your savings are being eaten by inflation,healthcare and just the cost of everything. It sure isn’t helping the unemployed or the price of food.
http://www.bbc.com/news/world-middle-east-15239529
Christian persecution in the middle east.
the more people that come into our country the more the necessities will cost… supply & demand… & these foreign scum demand the best cost free to them… Americans are about some dumb MF’ers… $70,000 to resettle Syrian Terrorist… WTF !
http://www.theguardian.com/world/2015/nov/20/saudi-court-sentences-poet-to-death-for-renouncing-islam
Disgusting brown apes
this is silly don’t you remember 2 years ago? the world is running out of oil don’t believe these people about an oil glut there is no such thing the world has already run out of oil. Sillys don’t you remember the billboards with the picture of earth and the gauge indicating empty? silly people iol glut indeed!!!
SHTF must be a shill for Big Oil ! for the rest of the country this is a God Send … Cheap Energy = Economic Recovery from the price gouging that took place a few years ago… who the Fok can afford $5.00 gallon gas… $3.80 gallon heating oil ???
Oil & Gas Companies fuel the economy down here in Houston.
I read about lay offs every week and wonder if these jobs will ever come back. Meanwhile these people are unemployed,
not working (taxes) and holding on to their limited savings
while looking for work. It definitely hurts other sectors
of a city’s economy. I would prefer $2.69 a gallon, not
$1.69 gallon (Houston Prices) if it meant my neighbors were
working, etc. Just an observation.
Eppe
My friend I hope you are doing great. $10.00 a barrel most likely means war. It does not matter. We all know war is coming one way or the other.
$10 oil will destroy our domestic oil industry, bankrupt small communities and undermine hundreds of billions in investments including pension plans.
If that’s not bad enough we will be dependent on foreign oil for years with no chance of starting US production for fear of another collapse.
Illinois basin crude is $33.50 today while the Saudis are paid at Brent crude prices,$44.60 and west Texas crude is $40.39
These are really, really scary , difficult times!! Not only financial wise, but in other ways too! Just heard a video recording of the shootings in one place in Paris. the sound recording of the killings is at rt news. the thing is, when I heard it all I could think of was that if someone other than the killer had a gun, they could have fought back. We need to make sure a lot more of us carry guns in the future to prevent further happenings. NOt only to fight terrorists but the government, if they start doing to us what the terrorists are doing (if they are 2 separate things, that is). Unfortunatley, the government will try to TAKE AWAY more of our guns, just when we need them the most… totally crazy, nonsensical policy. I say, f– them! YOur life is what is important. Just like in most states, they say to bike with the flow of the traffic. that makes no sense. If you ride your bike witht the flow, they can hit you and you have no chance to avoid getting hit. If you ride, FACING the traffic, you will see what is coming toward you and can pull out of the way, avoid getting run over. basically, if the law makes no sense, is against your highest welfare, you have a God given right to say, f– the law and do what you need to do.
If we let them take our guns, we will never be able to say no again!
Maybe I need to practice saying; “Yes Master!” Because I get the feeling I’ll be saying it a lot!
That’s right Justice – fall in line with the rest of the Sheeple – the government will protect you, and I won’t.
FTW, I am saying that we must never surrender our weapons, for if we do, we will become slaves. Either, fight for the Second Amendment or start practicing saying “Yes’a Mas’a”.
Didn’t notice and pick up on the “sarcasm”, my bad
Use [sic] after your sarcasm. Im not a grammar stooge but sometimes it is the little things that get your point across.
Snort, used to work for attorneys. Ya gotta put your forehead on the concrete to keep em happy. They’ll still use you for shark bait when they screw up. Now the whole world looks the same.
I have more respect for the guy who sucks the crud out of porta-johns than almost any attorney,
Kula, never trust anyone with a law degree. I tried that once and it didn’t work. Just another story I won’t go into right now.
Kula,
One exception to your spot on comment is Jeffrey Weiner, Esq. of South Miami. He is a proven RKBA advocate who has practiced in every level Florida court, the US District Courts, and in five or six US Circuit Courts. For the last 25 years. He has taken tactical pistol training; his younger son was admitted to West Point last year.
In court or in a gunfight I’d have him at my back anytime. And have his.
Best comment yet, Kulafarmer…..
so if anyone takes your weapon, you should be able to make one in about two hours and the black powder to go with it in about four hours, to survive in the world coming learn how to do things as even Walmart will be gone.
Consider using a rear view mirror. It relieves the worry of being hit. Riding with the traffic not only avoids increasing the impact speed as a head on would,it tells the traffic behind your intentions by not weaving in and out of cars, keeping a straight line, and obeying the traffic laws. I’ve been a bike advocate for over 30 Years. Cheers
I am willing to be everybody on this website carries a gun, legal or not….
Through out history when bad economic times happen, it is always followed by a demigod who becomes a tyrannical dictator.
All the more reason to stay armed……
I have yet to see demigod material on our political scene… just a bunch of pissants koto wing to the big boyz.
Or be on the same side as the dictator.
John I would take that bet! Of course there is no way of proving it one way or the other, but talk is cheap. Most may carry once in awhile but I would bet that very few carry on a daily basis. Those that can and don’t, are no better than those that can’t and won’t! Trekker Out.
20 years ago i did not carry, but things have gotten noticeably shitter since then. I always carry now.
To make sure I do carry I developed a routine. I have a small Taurus 738 that holds 7 shots and fits into a small pocket holster. Every time my car keys go in my pocket, so does my pocket pistol.
Now, I expect to never have to display it or use it. But should the need arise, I will at least have something.
This gun would be great to shoot someone off me, or a mugger or someone attacking me, but would not be a very good gun for shooting someone more than 30 yards away.
But my expectation would be a face to face confrontation. If they are far away, then I will just run away.
anon…i agree 100%..i always ride facing traffic….and EVERYBODY NEEDS A GUN!
I think the false flag attacks(and not Paris, as it seems legit although a creation of our govt.)are counter productive in gun confiscation.
I’d imagine gun owners relinquishing guns faster with a safe, crime-free world.
So, have at it govt. Making our world unsafe(er), putting fear in our lives 24/7 just might make us buy more guns!!
Anonymous
There are also many reports of Terrorist crossing the border right now. Some have been caught. Some have been caught in other countries in South America. Things could become very interesting quickly. Take a weapon where ever you go.
When Goldman Sachs says sell it is time to buy. Those bastards said the same thing that oil was going to $20 in 2009. Guess what? They bought entire oil tankers full in 2009 at the sub $40 lows and then ran oil up to $150. SSDD. Learn from history. If oil does hit $20 it will be TEOTWAWKI
“ISIS and other terror organizations are undercutting everyone with illegal oil sales”
This is an International Crime, and yet it seems nobody knows who is buying from ISIS – “gee, I wonder who it can be?”
Once they break the backs of the fracking companies oil will go up to 150 a barrel .
Hammer
If it goes to $150.00 we are in trouble there two. Oil is a double edged sword.
Why is the price of conventional engine oil $4.00 – $7.00 per quart?
Sure, gasoline is cheap, but they sure make up for it with the oil prices.
Also the government & big banks & mortgages are very low yet credit card rates are insane weather you have a good credit score or not.
Quite a scam the banks have going while they screw the people.
The best ting folks can do is not use their credit cards no matter what hurt them where it will hurt the most.
Yooper, I’ve never had a credit card and refuse to get one. No credit card bill will ever take away from my prepping.
B’heart:
We use a blue bird card (free) from wal mart, it’s a prepaid am. express. Used for online purchases at e-bay, etc. Some folks get prepaid Visa cards, gas cards, etc. Safer than bank cards as no one hacks into prepaid cards.
Credit cards are fine if you are disciplined enough to pay them off monthly. That is until they go to a cashless society. I prefer cash but I do have a credit card. 7.99 percent interest if I don’t pay it off. I use it for hotels and tickets to games. Gas at the pump. But I pay it off monthly.
I have considered getting rid of the thing. It is just convenience.
About time oil got cheap. We have been getting the shaft from opec and big oil ever since the fake gas shortage in the 1970,s. Cheap fuel lowers the cost of production and lower production cost benefits everyone.
Old Guy
You are correct because oil contributes to prices of about everything. Everything transported to grocery stores for example is affected by it.
Problem is I don’t see the drop in prices at the grocery store. It also takes forever to see prices drop at the pump… But if oil goes up they seem to raise the price at the pump the next day.
I used to fill my Volks Wagon for five bucks$$$$$ and drive for a month. I rented an apartment for $70.00 a month. Clean and nice white people lived on the right and on the left. You could walk down the street in your underwear, drinking a cold beer or a root beer. Nobody bothered you. Not the cops. Not the neighbors. And the black people who were far and few between were friendly and happy. Now the black crackheads fill those same streets. You have to watch your back cause Nigers hate crackers. A filthy apartment costs $1,500.00. And it costs $60.00 to fill a car and I’m on empty in less than a week. Do you think I give a rats rectum that the price of a barrel of oil is down a little. No.
Used to take a $5 bill on Friday night, fill my VW, drive it 20 miles to town and spend the change on a cheeseburger, fries, and a coke.
Drove all week on that one fillup.
Back in 73, I bought my first car, a 64 Nova post coupe with straight 6 engine and 3-on-the-tree for only $300 cash. Gas was only 24 cents a gallon at that time. I could fill up for less than $5 and drive all week on that fillup. I used the change to go to KFC get a 2-piece chicken dinner with a biscuit, fries, and soda. Man, those were the days. Back then, fast food was pretty decent. I won’t touch it now for squat. KFC sucks these days along with all fast food.
Braveheart1776
Your dating yourself. Your correct about the gas price but top flight wages in 1973 might have been $5 / hr for someone in DuPont, BP, Sunoco or Mobil (big time employers in my area). Assuming you have one of those jobs today (here lay the problem) the cost of $2 gallon compares. Cars today are much more fuel efficient and last probably 2.5 times as long (100,000 miles was the life expectancy back then before a major overhaul). Twenty MPG is common today but almost unheard of back then.
Technology has increased the standard of living but the Power Elite have been skimming off a lot (maybe all) of that gain for themselves and personal economic irresponsibility with credit has taken its toll too.
Sometimes when everyone moves one way it is sometimes wise to move another. A good friend bought a 1967 Shelby GT 500 that never been hit for $3000 in 1977. They bottomed with the second oil shock. He has it in his garage, sweet ride bringing back the days of yesteryear.
“IF” an 100% Orig Shelby GT-500 427 etc etc car?….The recent mechum Auctions last year one sold for the TOP Highest EVER Car bid!…..Somewheres around $2,250,000!
But it WAS stock Orig early year one or 2nd yr made shelby car…
The Mustang type shelbys GT 500 427 cars also sell at massive huge bids…like around $500,000 or more!
A stock clean Boss 429 1969 Mustang sold at auctions couple months ago for Northwards of $550,000!!!
mechums latest auction in if I recall arizona(?) top seller car was…A 1970 426-HEMI-Dodge Challenger, with 2,000 act Orig Miles…and was ONE of just Nine made that was a Convertible with an automatic trans and the 426 hemi.
The orig owner was the very guy whom did the body sytle design etc and says he bought it once he saw how cool his design looked in showrooms, and when he found out just 9 were ever made he got it…
SOLD Bid price topped ALL others of over 1,000 cars sold that auction…$2,225,000!!!!!!!
Those cars ALL cost around $3,500 to $4,000 when New in 1970’s or Late 1960’s..
Nothing has been a better investment when compared eh. Plus one can have FUN with and even Drive such a cool thing…Far better than stare at shinny gold coin.
Unless you are negroe for most of them folk Loves shinny stuff! They in Detroit go abject WILD when they glimpse anything at all Shinny!..So Keep them Bald Whitey Heads covered good eh! heh heh heh…
My Grandparents has a Winnebago in 1979 that got 6 miles to the gallon. And that was great for a motor home.
Braveheart
I don’t touch it either. I have notice that if I do I feel all lethargic and just lazy. It used to not be that way. Maybe it is age for me. I don’t really feel that way with K.F.C. as long as I just eat chicken and vegetables. The sandwiches they have make me feel that way.
People from Nigeria are bothering you? I would think it would be the niggers. My bad. I always say, if you are going to be a ignorant racist, learn the spell words describing the people you hate. Someone here please explain to B CA the concept of inflation? I think he grasps the changing times as far as Nigerians are concerned.
TInk if:
I deliberately spelled that word a little differently than the Webster’s official spelling. I actually not only do not hate my black American citizens, I have a greater cocern for them than their so called Zio-“friends”. The bastards who control the degrading music, funnel in mind ravaging chemicals (drugs), and use them as muscle against Asians and Whites are the real haters.
By the way, you might want to look up “creative license” and chill.
So sorry ca. It is really creative to misspell words. Like cracker…oh wait that one was correct. It would be a hoot if you spelled it “Kracker”. You sir, are a creative genius.
Hmmm…,time to increase gas storage capacity,a few more cans can never hurt as I rotate em and do treat em so if needed for longer storage good to go,have a good weekend all!
Dammit, I was just thinking the same thing lol. You can never have too much gas. Hard to find good gas cans around here now though. They all have some fooked up bullshit spouts. I suppose a 55 gal drum and an electric fuel pump could work.
Yard sales/craigs list ect.Genius,I FUCKING HATE! the new epa approved gas cans,got some old school cans @ flea market for about 4 bucks a piece,bought his last 5!These are the 5 gal. models,real spout and a vacumn release cap(what a novel fucking concept!).
Here in the land of high population density (lots and lots of dense people) we have to buy CARB (California Air Resource Board or some such nonsense) approved gas cans. No vent, stupid nozzle that flows perhaps a quart a minute and of course, child safety. Cut the safety ring off, get a $5.00 “shaker siphon” from Home Cheapo or the Sportsmen’s Guide and you are good to go.
I was wondering why those cans were so shitty. I bought some recently and could not find regular ones. It has been a number of years since i bought any other cans.
I just got a load of old gas cans from someone who was cleaning out a shop. A couple of them are the old metal gas cans. I’m hoping the gas will go a little bit lower before I fill them all up.
Arch,nice score,just make sure the metal ones are rust free on inside obviously.I found some old red plastic ones dumped in woods a few years back,about 8,some missing parts,that said,got 5 working cans out of em.
Look on EBay for vent caps. These are ONLY to be used with old style vented cans. Tractor Supply sells decent nozzles.
Buy an older motorhome…..big gas tank, propane tank, dual power appliances, generator and battery banks for backup power.
Excellent prep tool.
Warchild
Just trying to be helpful. I found an old gentleman that had retired. He had a construction company before he retired. He sold me a 250 gallon tank with a hand pump. I bought it for 25 dollars. I replaced the hose. You can get gas without ethanol from southern states delivered. Then put stabilizer in it. It last for about 2 years. You can use it to mow grass or in your power tools and it does not clog up the carburater like the other crap. Just trying to be helpful.
Check on Craig’s list.
Please tell me what your gut is saying to you about when a crash will take place.
Hey Jackfrost, All I can say is that I have been on this board forever and since the 2008 crash a new one was expected every other day. Turns out the bankers are really good at staving off the inevitable. In other words, it is a coming but can’t say when.
BigB
Yes you have Big, B, and as you and only a select few know, I have been right with you, but under different monikers.
Early on, i did not post until about late 2009. I was neck deep in a couple “christian sites”, of which many here would prefer i would return to. I like stirring around in the muck and getting my hands dirty with the likes of atheists (wwti), do gooder fakes like JQP and FTW (to name a few), and flaming faggots like AE.
Anyways, the posters back in the beginning were a lot more salty than ones today even, but it was an interesting lot.
The “sky is falling” rhetoric is contagious, and I have fallen prey to the snap thinking and calling for collapse when in all my soul, I know it will only happen on God’s terms and timetable.
The Bible doesn’t lie, like us humans do. Sometimes we don’t mean to, but we can easily get caught up in the frenzy of things and make mistakes, or mis-calculations.
I believe my calculations are right on target this time and I have prayed that God keep showing me signs and indicators for the time frame and season. He has been doing just that and if people don’t get their personal house in order…it is soon going to be a world of shit storms and natural disasters, plus a few supernatural ones, that catch them off guard and becoming those spoken of as “scoffers and naysayers”…”where is the promise of His coming?”
Well, I hope my posts here have helped some and given inspiration to those wanting such. My time here is becoming less and less and I have bigger and better things for the upcoming future. God has directed me, through the spirit, to start reaching in another direction where my work is more accepted and appreciated. Apparently the PC, and need for a dollar of these sites, have taken priority over the need or want of truth.
It has been a pretty good ride, along with my other web site endeavors and postings. I have learned and shared a lot. Mistakes, I have made some, as anyone does that is actually doing something constructive.
I will not be starting my own website anytime soon, because my work will be on the grassroots level for a while. I will miss the friends i have made here, but somehow I do feel that we will reconnect when we reach the next life age. Heaven is gonna be a great experience and looking forward to the work that the Lord has planned for me during the Millennium. He is so Great and Generous that He did show me what it was gonna be like in that day, and I was taken there for a brief time to get a glimpse of what my job is. Thanks to all that gave out kind words and feedback. I do respect and love you folks.
Sorry to see you go, I do enjoy reading your posts. You follow that direction God takes you. He brought me to survival sites to learn more so I would be more confident, although I have expressed your sediments here before about certain websites only are out to fear monger and make money off scared and angry folks.
When experiencing any predictions and reports, one should do more diligent screening and check credible sources. I’d rather be at places that help me with preps rather than read vulgar rants, and why I go elsewhere for more constructive solutions and where I can teach others. May God bless you with good fortune in the remaining of your days.
Pass,have disagreed with you on many things/agreed on some,that said,best of luck where ever your path leads you/try and help others if you can when things go from tough to really rough,like it or not,at the moment we are all in this together to a degree.
Passin:
Your going away gift from me:
ht tpwww.scribed.com/doc/9168445/Abraham Covenant E.Raynond Capt
Scroll down and the whole article is there to read. All here who are interested in what happened to the 12 tribes after they left the middle east will find this most interesting.
No more guessing about what became of Judah! And where they are today.
Glad to know you hold yourself above Acid Etch’s use of FU. Quote “I only use that to make a point”. As if that ‘justifies’ your nasty action.
My last reply to you….I have had E. Raymond Capt’s books for many years…so you are a day late with that.
And i use any language i see fit because i am not a preacher and not bound by the ordinances of the cloth….FUCK OFF and make my day.
That proves nothing as to who is in Israel now …>>>>>>>>gone.
And I could care less if you leave. You should go to your bible thumping treads. you need be amoung those who share the same superstitions as you have. Birds of a feather and all of that. Im all for the survival of the fittest. And im a service to self core concept. My soul belongs to me to do with as I see fit. I don’t trust anyone. Especially some invisibile guy in the sky. LOL
Old Guy
You just had to stab him in the ass one more time didn’t ya. He would of left in peace. Now don’t get pissed off if he comes back with both barrels cause I would not blame him.
Yea I gave the thinned skinned Passin a jab. Good Grief If your gonna leave. Just leave. No need to write a childish novel telling us what is wrong with us. That you leaving because you couldn’t get the rest of us around to your way of thinking. Do like BI just go away No need to write something hoping folks will beg you to stay.. Folks leaving and bickering just proves what I have stated before. No group get along for very long. Some one in your so called trusted group will turn on you.
That soul that belongs to you has been severely trashed, you’ve made it all but unusable.
Between that and your illiterate bigotry, no one will mourn your leaving either this site or this life.
For those of you that wish me well,
My wish for you comes as well, as i tip my glass.
The rest of you ignorant, can kiss my ass.
Someday you folks will see,
the truth as it has been explained, but,
as in the case of too little too late,
You will not be able to flee.
Brother Passin, Follow the Lord, for He has a place for you.
and I will always wonder if we aren’t related through ‘Nathanial’
Peace
Passin, I was referring to Old Guy, hope you didn’t think I meant you.
Thanks Smokey…No harm…bless all brothers and sisters.
passinwiththewind,
Sorry to see you leave. Wish for you the best in whatever direction you are headed.
Keep praying and prepping!
Take care.
KY Mom
Old Dude,
You are right about the soul part. The spirit part is a whole different matter. You will have to breath your last to find out the truth.
And that goes for everyone else also.Like the song says swear there aint no heaven and pray their aint no hell. LOL
PWTW, hate to see you go. I wish you the best.
Jackfrost
That is the question everyone is trying to figure out. I am one that thought it would have happened way before now. There are so many things going on right now. I feel the crash is close. I have felt that way for over a year now. I wish I knew the date. I pass along things i find out from military and intelligence people from time to time. Some come true some don’t. There are so many things going on that one little thing could bring it all down. Just so hard to tell. We all try to help each other with this question. Any help I get is greatly appreciated. I will try to help you from here on.
I don’t try to guess “when” so much as pray it holds off longer. I am 3 years into a Food Forest and want to pay off the last of my motgage. I designed an underground home that I will pour foundation on come spring. I live in the mountains and underground means survival without heat or air conditioning. Also less expense to supply modest heat. Water security too is not complete. I am running as fast as I can! My vegetable garden will be much larger this year since I have collected free compost from friends with large trees, in exchange for gardening lessons and wild edibles identification. One is eating her own wild foods already. Please, don’t pray for quick like many seem to do… pray for abeyance to help those of us who prep in smaller increments.
I can understand the disruptive nature of swiftly dropping oil prices as its expected not to last as implied by swiftly. Manufacturing then doesn’t efficiently take full advantage of it. If it was highly probable that oil would stay below $40 a bbl (or roughly $1 gallon for crude) for a long long time its likely that some manufacturing facilities might be built that otherwise wouldn’t be. The bottom line is that everything today is too dynamic, too unpredictable, too topsy turvy to be truly taken advantage of on a significant scale with planning. Political meddling and a free for all unrestricted market (buying futures on credit and margin) is a major contributor to inducing instability. For those that know about hearts its like VTach before VFib.
Conversely I have a difficult time thinking that $100+ bbl oil is to my advantage. Maybe I’m primitive and can’t see the, “big picture” but lower energy costs translates to a higher standard of living. This assumes increased supply is the driving force. If lower demand is the cause then people are too poor to pay. Maybe its both.
I grew up in west Texas got my first job off the farm in oil.
I can tell you.
The little players and the heavily indebted players flame out by the end of 2016 if oil stays below 40.
After that it’s just Exxon,Devon and shell left stateside. I see oil going back to 80.
If Saudi falls which it will soon enough. Their fields are poorly maintained and once down would be hard to get back up to 10mbd per day.
If that happens oils goes to 150 easy. As they represent 1/8 of daily production.
Red
Why wouldn’t the fracking resume once the price rises? Someone once said, “No cheap form of energy goes unused”.
E&P was always a bit of a black hole to me. I have operational knowledge of refining.
As the price rises fracking would resume.
Over pumpingand dropping prices is the traditional way of killing competition.
good in sites
Red
Thanks for the info. I work in the power industry and try to give news from that angle. Any info you find out would be greatly appreciated.
There is a kind of whiplash with the gas prices.
They go up so high them begin to go down. The crazy thing nobody sees is the taxes. They put them on the gas when it is low so people will vote for the penny or two cents gas tax to fund all sorts of crap. Then up it goes to heights never seen before and people struggle to make ends meet. Has much is State and Federal Taxes on gas. We are consistently poking ourselves in the ass over and over again and liking it.
50% of fucking airfare is taxes. You used to go to Europe for $500. Now it’s $1000.
in September 2014 Houston to Louisville KY was $147 one way. In September 2015 it was $850.
WTF??
Corporate Theft.
Many states are taking advantage of dropping oil prices and are raising gasoline taxes. Most sheeple never even know it happened. They think oil companies are just gouging at the pumps as crude prices drop. Unscrupulous politicians even start and feed “Evil Oil Company” rumors, while in fact they are gouging more taxes as the economy burns.
Stable low oil prices are great for the economy, they are very bad for oil producers that have high cost oil reserves. Sucks to be Canada, oil sands are very expensive to recover. A lot of South American oil is lousy, tar like, high in sulfur. It’s expensive to recover and costly to refine. If oil prices drop, the economies of those and other nations with pricey oil will crash. Those crashes will effect the global economy.
Geologist once told me that Penzoil is the best oil you can get, he joked it darn near comes out of the ground and into the cans on the shelf. It’s just the right amount of pressure, purity, age, dinosaurs, strata, cooking temperature, whatever, that means it takes the least refining effort to make it useful.
The truth is about 65 percent of a gallon of gas is tax. You never here anyone complain about the government making all that money.
Filled up my heating oil tank for $1.99 gal cheap no need for wood stove at this time. $40 fill gas tank every other week. Work is close to home. I still live like a Jew not gonna spend shit keeping all my $. Gonna get all the $ I lost to high fuel costs back. I think some new battery technology is threatening to destroy the oil business if they don’t keep prices down their days are finished. Fuck the greedy oil companies they are the richest thieves on earth they will start war to protect the business. Jmo
I worked for an oil company in government policy way back when they were buying up solar patents and quashing them. A few inventors died suspiciously or disappeared. Solar dried up.
About 1% or less electricity is generated with oil. Its only used in very remote places on small, scale. Solar competes with coal, natural gas and nuclear in power generation.
Kevin
The government has mandated that a certain amount of power production has to be in so called renewable’s. Oil generators are only run at the most extreme weather events.There are many solar fields being produced right now. Many wind turbines too. They just cannot produce the amount of electricity required. There is a war on coal here in the states. That said the coal companies started shipping it to china. A lot of the coal plants have converted to natural gas do to environmental regulation. It is all one big money game. Period.
This also means that all of our electric bills will go up. The customer will pay for most of the new construction.
China will use the coal with no environmental regulations required. Just so crazy.
All a big money game.
I’m fond of synthetic. An internal paper came my way at work regarding it. To make a long story short an engine using it ran 200K miles and when taken apart the tolerances were still in factory specifications.
The very best petroleum lube oil for automobiles made in 1980 would be of such poor quality today that it would be almost unsalable. This is petroleum against petroleum. Putting synthetic in the equation is off the chart.
Another thing has changed. Engine tolerances today are much closer. In effect, every engine is blueprinted as the human has been more and more removed from the manufacturing process. For this reason we went from 10w 40 to 10w 30 to 5w 20.
The Owners manual for my 2009 Z-06 Vette demands I use ONLY Mobil-1 synthetic oil for each oil change…
My engine is totally Hand assembeled and signed off on by the GM builder guy who assembeled it at the Bowling Green KY Vette plant.
Manual says NOT to go by Miles driven. Rather to use computerized digital read out display that shows Oil percentage Left and still good to go…I have to reset that display after each oil change back to zero percent.
it all depends How you drive as to what distance between oil changes.
It also has factory installed Dry-Sump oil system…The entire oil Tank is a large round cannister located at side of engine caompartment under hood. It holds 10.5 Qts per each oil change! That plus one new special Z-06 type filter and the total cost per oil change at chevy dealer is aprox $112.00 Per change…But that was less costly than if I buy 11 qts mobil one at aprox $10 per qt and a filter at aprox $20+ per filter..
I think I figured it to I Saved about $10-15 by have dealer do it…Plus with just Max of 5 inch ground clearance I cannot get under it to do the job unless I go buy costly very low profile floor jack and even then there is just two jacking points per side so you wont ruin under carriage and floor undersides etc.
So far since I got the car last March 1st, and waited for warm weather to drive it around April 1st week, and parked it other day in garage covered till Next spring/summer I put aprox 1,100 Miles on it and the Oil percentage level still shows 84% Oil-time-Left or remains untill next oil change.
But thats all if you never Track the vette…just ONE day for an Hour or two at race tracks and high speed aka 198 MPH tops and you Must change oil after Each track Day!
Guys that do so must have plenty Cash to play with eh!
Plus high speed Z rated tires for it cost between Low of $1300 per set of 4 to Michelins like mine are $1650 Mounted…The Run Flat tires like mine are even more…Then are $2200 per set of 4 tires ON sale!
Guys at forums who Track their cars claim they need New Tires after each 3-4 days at track for total of 4-6 Hrs race time and maybe total of Prior street miles at around 1,000 or so only!..That be at Min one new set tires per Month if go to track once per week and drive daily to work also! Plus 4 oil changes per Month too!!
Wonder what type Job them guys has eh? Too costly for me for sure.
i will say though them new michelins i put on it sure Grip!!!….It feels as if the car is On Rails and Glued to road….An avg 90 degree corner on two lane blacktop road that my F-150 truck will lean hard to side in turn at say, around 30 mph perhaps….The vette is capable to takeing the same turn at upwards of as fast as 90MPH! withOUT Any slip nor slide nor roll side to side or sway etc….as if Glued to Rails.
I myself has never yet tried so fast a turn!…many guys at corvette forums has and even show photos online of various street turns they did it at…Too scarry to try it I think.
For Certain though todays high tech computer assisted tech in such vehicles is like NASA Shuttle compared to cars, even vettes just 20 yrs ago were.
Mine has such Huge 14 inch disc’s with six-piston and six indiv brake pads per wheel in front and for each per rear wheel four piston calipers with four individual pads each, with stainless disc is just 1/2 in smaller diam.
That you can go 100 MPH and come to Full Stop in aprox 94 Feet if I recall it right….NO cars past were able to do that nor travel at such super car top speeds like todays can….Best part is Ride and handeling it makes older vettes seem like Mack truck when compared…
Basically todays newer Z-06 Vettes are “VEDDY-VEDDY”!
aka, veddy vedddy LOW! and Veddy VEDDY Fast!
K2, I agree, synthetic is great. I go almost twice as long between oil changes and my engine still has good compression after 150K. I also add duralube every 30K I am a firm believer in it. I have ran a 4wheeler and a dirt bike out of oil and it did no significant damage. Synthetic oil is also good for lubricating liberty tools, fishing equipment, any other items. Duralube and synthetic oil are the best.
As one of the engineers explained it at the adjacent research lab where Mobil 1 was invented its advantages were:
1. Petroleum based oil is a good lubricant by accident. Synthetic is good on purpose.
2. Its viscosity (distance to flow) changes a lot less at high and low temperatures
3. It has an affinity to cling to parts (engines disproportionately wear during start up)
4. Gasoline that gets by the rings and seals separates from synthetic oil rather than diluting it.
Back in the 1990s we could buy leaker cases (cases that were soiled due to one container leaking) for cheap. I think on the order of $3 a quart, maybe $2, I forget but it was cheap. I bought a bundle that lasted for a decade or so.
Engineers are by their nature very cheap. Most would change their oil filter every 5000 miles and add one quart of Mobil 1 lost. Personally if I was going through the work I changed it at all every 5k. Then again I got the oil cheap.
Ran a Chevy V6 4.3 liter engine (its a 350 V8 with two cylinders lopped off) for 200,000 miles and I never had to add oil between changes. The 4.3 was like the 283 of old, reliable as all get out. The crank was actually overbuilt as its casting was meant for greater length. Terrific engine.
30 Nov. Yuan to be included into IMF currency basket SDR. Mid Dec, Stock crash & USD falls to 60, glut of unwanted dollars returns to USA and world exists US stock market. They all buy paper metals, COMEX collapses and people are paid out in cash, then the people all buy real metals and take delivery. Crash could make FED QE-4 first week of Dec, instead of raising int rates. Buy all your Chinamart junk NOW, things are to double in price by the election. If banks close for ZIRP money bail-ins, the shysters better take it all, as when banks reopen, the customers will all be buying gold and silver. I’m calling a $15,000 gold and $200 silver by election day.
Yes, the Yuan being added to the bucket of currencies used as a reserve currency is huge. The Dollar is definitely dying.
Also be aware there are multi year contracts that are payable only in dollars. So expect the effect to be slow as international contracts expire or get renegotiated.
Nov 30 is the day the dam starts leaking. It may take months for the leak to grow into a breach.
Likely there will be a period of deflation/depression when gold and silver prices crash. Buying several smaller lots over the months may produce a better investment than buying a bunch tomorrow.
I actually think adding the yuan will not help,china is also in a lot of economic hardship they are good at hiding at moment,won’t help when we default on monies owed to them.I will say at that point though all countries economic weakness will come out in the open,we burn together.After the die off the US will be ok,we still have a lot of ag land ect.,getting thru the die off,well,that’s the challenge!
The Yuan being added to an international bucket of currencies to dilute the dollar as reserve currency I’ll be good for the global economy, for a short time.
During that short time the dollar will collapse and it. Will really suck to be an American. The US economy will collapse.
This will bleed out the rest of the world economies, and that new bucket of currencies standing in for a reserve currency will falter as the global economy collapses.
I don’t see a solution that saves the world. Individuals can try to insulate themselves from the crash by having stored food, water, weapons, fuel, personal necessities, cash, gold and silver.
I do predict, it will really suck to be an American for the next twenty years. The rest of the world stuck with trillions in worthless US dollars will demand the full faith of the US government, i.e. reparations!
The plan is to take by force all the oil/gas we’ve been hiding. That is the end game.
Crack pipe. I thing I will kiss you if that comes true. I have been on a procurment plan for gold and silver for about 5 years. It is just like a car payment. I have the metal delivered every 6 months.
Let’s not forget that just a few years ago oil was $145 a bbl, we were supposedly seeing “peak oil” and would only see prices go higher. Just a few years later we are talking about a glut of oil and prices crashing. It used to be somewhat of a normal cycle, rising then falling prices. Now that governments around the world are using oil as an economic weapon YOU WILL see wilder swings in oil prices with higher highs and lower lows. The Russians, the Saudis, the Iraniams, and almost every other country that controls their oil industry needs $100 a bbl. oil to support their countries. All these nations ARE NOT going to allow prices to stay low so long as to cause turmoil in their countries. Prices may fall in the short term, but long term THEY WILL GO HIGHER.
You have seen Peak OIl, which is why so much media manipulation is suggesting global warming, glut of oil, etc. etc., and its all rubbish.
Take a look at Florida sea levels, as far back as they go….Not 1cm of rise in all those years?
Now Peak OIl referred to conventional oil, and you have Ghawar oilfield in terminal decline along with many Middle Eastern mature oil fields, most now requiring enhanced recovery methods.
You have idiots pretending to be oil analysts suggesting that the drop in price of drilling shale wells somehow makes them more competitive than conventional wells which is sublimely stupid because a horizontal well is a conventional well with add ons. i.e. a horizontal well starts as a conventional well with a horizontal later then drilled or multiple laterals drilled, and all requiring hydraulic fraccing and proppants, and with decline rates that are horrific….70% decline rate in the first year so you have to keep drilling to stand still.
Now just think for a moment, that the U.S. purports to be pumping 5,000,000bbls a day from shale? So was Peak Oil wrong? NO. All the low hanging fruit has gone otherwise they would not be even contemplating shale where costs are higher than an equivalent conventional well and have decline rates multiples of a conventional well.
The reason horizontals succeed in shale is because these shales could not produce economically conventionally because the pay zones were comparatively small, so by drilling a conventional well and than laterally into the pay zone horizontally it increases the payzone because conventionally if the payzone was say 20ft. that might not be enough with the poor porosity to produce economical oil, so by drilling into that 20ft. payzone horizontally you can effectively increase the payzone by multiples, thereby increasing the flow rates accordingly, but at the cost of very very high decline rates.
For the record only 4% of shale wells have got anywhere near their Estimated Ultimate Recovery?
So the idea that shale competes by cost is irrelevant as the same cost savings would be effected on conventional drilling, without the additions of fraccing, and laterals.
The biggest change has not been technological it has been logistical. Horizontal drilling and fraccing techniques have been around for decades, but the greatest time and cost saving has been by PAD drilling, as that allows four or more wells from the same pad, rather than having to move an oil rig, but pad drilling also applies to conventional drilling.
Now take a 70% decline rate. The sweet spots are drilled first and there is only a finite number of wells within an acreage.
You drill say 10 wells a month, but by the time you get to drill the next 10, the first ten have already suffered significant declines and so ad infinitum.
Even if you don’t take that compound decline, and you had say 100 wells drilled in a year with an initial flow rate of 1000bbls per well, so peak producing 100,000per day, by just six months they are only producing 50,000bbls a day, so another 50 wells have to be drilled just to keep that peak production, but with additional capex. At the end of a year its even worse, because the earlier wells have now declined by 70% and the newest wells by 50%, and after just a couple of years they are effectively stripper wells producing as little as 30bopd.
What is being sold as a ‘glut’ could not be further from the truth
+1000…great summary Mike.
The Red Queen has stopped running. CapEx has crashed. When the excess is sopped up, there will be worldwide shortages. Fracturing does not make money, it loses it.
These Bakken wells are money sinks and when the credit dries up with the re-evaluation of reserves at a new lower price, belly up they will go.
Thanks for the great comment.
These wells are lasting longer than a year. I personally know of some wells in south texas producing thousands of bbls daily. These wells produced for 3 years like this. With the current glut in oil the ranch owner and well operator have chosen to cut back production about 75-80% until prices increase again. These wells require no pressurization via natural gas or carbon dioxide to lift the oil. True, some shale wells do require higher costs to produce after the higher costs of fracking, but the industry has learned to identify the larger, less costly fields and is producing them. Don’t let the government fool you with the BS about how they have saved you from higher prices either. In the last 6-7 years, the majority of drilling has been done on privately held land. Permits for drilling on federally owned land are down dramatically, almost to the point of being non-existent. As far as global warming, when I was a kid walking to school, the government was saying we were heading into another iceage because all the smog from fossil fuels was blocking the radiant heat from the sun. Wake up people, they are just feeding you the propaganda of the year to advance their agenda.
Haven’t seen any mention of why Saudis are pumping enough oil to bankrupt Putin. I suggest the don’t want the Russian Bear to move into the hood and are hurting his pocketbook. The US is in this up to our necks to enrich our oil companies and military industrial complex. The people will pay the price as always.
” Saudis are pumping enough oil to bankrupt Putin.”
Yep, absolutely.
Texas
I think you are right and that is why war is coming.
Now that Russia has started to do the job the USA didn’t do in Syria and is bombing trucks carrying oil to Turkey we might see a small rise in oil prices.
Oil could drop to $20 p/p but it won”t get much cheaper at the gas stations because lots more tax will be added to the price.
Saudi Arabia (Our head chopping freinds) keeps passing weapons on from the US to ISIS which could result in someone like Iran setting up it’s own version of ISIS with the number one target being Saudi oil fields so that will push prices up.
Old Says “What goes aroubd, comes around”
Smith is right Russia isn’t bombing ISIS they are bombing oil producing infrastructure. Follow the money. Its all about oil dollars.
In 2007 gasoline was $1.89 a gallon and we needed a car, I was looking at a Camry.
I was looking at the camry hybrid. Hybrid was a $1200 adder at my dealer. I had a bad feeling about oil prices and went with the hybrid. My wife had a 45 mile commute.
Damn if gasoline didn’t go to $4 a gallon, but we were now getting 37mpg. At $1.89 a gallon the hybrid was just about break even.
Our hybrid now has 145.000 miles. I calculate it has saved almost $6,000.00 in fuel cost. Plus I didn’t know it would be so reliable. The only needed repair so far has been tires, oil hangers, the rear breaks, and a water pump. I did change the 12 volt battery a few weeks ago as preventative care, it was 8 years old, and changed the engine coolant and cooling water for the high voltage electronics. Because of electronic breaking, I’m still using the original front breaks at 145,000 miles and there’s still a lot of pad, the rear were replaced once. I’m thinking I’ll do a full break job in the spring, not because I need it, but because the breaks need to be bled, cleaned and lubed. In a normal car my wife would have needed breaks about every 30,000 miles. I figure I’ve avoided 4 or five break jobs. Gotta say I like hybrids.
I do all my own repairs, the hybrid has been really easy. The water pump and break job was quite standard. Changing the 12v battery was different, I hooked a small 12 volt battery to the lug in the fuse box to keep the computer powered while the battery was disconnected and a new charged one was installed. It went off without a hitch.
Point is I’ve never seen such a maintenance free car. It has saved thousands in repairs in addition to the fuel savings.
As a prepper car, I can easily put 500 miles on a 17 gallon tank of fuel. By putting four to six extra 5 gal. cans in the trunk I could travel the US, north to south without stopping at a gas station. I’m am impressed.
To all…
Been here posting for a long time.
Seen many come and go.
Heard tons of good and bad.
Read the archives, much to learn.
Be well all…
Cuz we are all we have…
EVERYDAY is a new classroom.
Pop, you have been here for a while too..
Sure miss BI, Smokin and others.
I long for some reinvigoration of this site.
Not complaining, just stating.
I try, but it seems to be ebbing.
Passin, will miss you.
Yall behave…
You too eppe, thanks for the laughs and friendship.
Eppe
You are and always will be one of the bright spots on this site. We shall meet one day if conditions allow it. I would love to see a meet and great convention of this site one day. I would love to let certain people know how much they mean to me. You would be one of them. I bet the computer warriors that cause problems would not show up.
The only problem is Facts. The propaganda story is pure fiction. Anyone can check shipping off Galveston and find there are NOT 39 oil tankers queueing up. There are not even 39 tankers in total there or even in the Gulf of Mexico. If there were it would be 19 full and 19 out as the Plimsoll lines will show.
As for the other stories about 3billion barrels in storage…YES factually correct….BUT, and its a very big but, there has been 3 billion in storage for many many months.
Under EC rules ALL EC countries have to keep 90 days of oil in storage, and it was ironic that the IEA were adding to the propaganda by commenting about oil in storage when they know and so does the EC that its an EC directive for all members of the EC and all members of the IEC.
That storage was actually 3.3billion for most of last year and the year before, and even when oil was $100, so who is kidding whom here!
Apart from that we have SPR’s of India and China trying to keep 50 days store, where India has far less than that.
In the meantime China’s own oil production has plummeted, the Eagle Ford in the U.S. is plummetting expecting to be 600,000barrels a day LESS in a few months, and getting worse as legacy wells decline so rapidly in shale.
You have Saudi’s who DO NOT ever publish their decline rates, where the wells are in terminal decline, with waterflooding techniques necessary and Enhanced Recovery methods which are a sure sign of a mature oilfield in terminal decline.
The Saudi’s along with most of its allies DO NOT have independent audits on either production or decline rates, so effectively they can claim to be producing whatever they like.
Likewise the U.S. production that is claimed to be still rising even with massive layoffs of rigs is rubbish. it is reverse pumping from the SPR, where the SPR was designed to be able to receive and send oil through existing oil infrastructure.
U.S. stockpile figures are a joke, where each week a stockpile can be artificially added to both by untrue U.S. production figures or simply by importing 7,100,000bbls a day, which is then used to add to stockpiles, helping to keep the price down for this proxy war.
Comments on shale costs plummeting are ridiculous, because anyone who has spent time working in oil knows that a horizontal well costs plumetting inevitably means that vertical well costs plummet also. A horizontal well starts off as a vertical, and with extra work required for horizontal lateral or laterals in any multilateral completion, let alone the extra costs for hydraulic fraccing and proppants that may not necessarily be required in a conventional well.
Silly people playing silly mind games trying to play proxy wars.
If it was so plentiful why on earth is the U.S> importing 7,100,000 bbls a day, which is around 8 supertankers per day, with 4 offloading and 4 emptied.
You can easily check shipping logs for the whole of the gulf of mexico, and they DO NOt SHOW 39 TANKERS QUEUEING OFF GALVESTON.
Even a commonly used picture of tankers queueing was a fake, photoshopped and even then the creator did not use all oil tankers, let alone realised that when they are high in the water they are empty
Funny old site seems to have strange moderation. Two comments posted about oil, factual and non abusive but rather pointing out the significant discrepancies in the story this link applies to. Seems someone doesn’t want that.
Mike, unfortunately we don’t have 24 hour moderation coverage. Those were posted at 4am so I was snoozing but should be visible now.
Thanks,
Mac
Today is charge/check your batteries day
If you have tool packs, Nicads. Electric start Generator. What ever needs a charge. Flashlights might need a look at and open them up to see if there is corrosion inside from battery leakage.
I have found that the Kirkland brand batteries are the worst for leaking, ruined more than one head light or device with those damn things
Cheapest Costco brand junk.
Had a scheduled power outage last night at midnight. I did not have to start the generator. I decided too as a test. It did not start. Guess that is a good thing. Makes me realize as I have in the past that we all need to do test and maintenance on a regular basis.
Things happen for a reason good or bad. I have benefited from alot of bad things in my life. Never realizing at the time that the bad thing was actually good.
Dreadful????? WTF….anything that brings down the collapsing fascist Orwellian Police State disgusting vile evil shithole of America sooner is NOT “dreadful”, it is GOOD news to be cheered and welcomed. The sooner the evil vile disgusting fascist shithole of America collapses, the sooner we can round up and arrest ALL the Corporatist fascist psychopathic Republican shit stains and ALL the Democratic filth in the two criminal gangs of pure evil scum of the earth.
Someone stated up the page that gas was 24 cents a gallon in 1973. I don’t remember that. In the mid and late 50’s it was that price and lower during gas wars pricing. Now we’re paying nearly ten times that and act like we are getting a good deal. The oil companies are the biggest thieves on the planet. The biggest polluters also. Alternate energy should reduce the fossil fuel impact to extinction. The oil industry and their owners are blocking progress in America. No ifs ands or buts. Doesnt Obama own 50 million in BP stock? Dont act like you have improved American life Oil Giants, your record is one of destruction that never ends
I was a teenager in 1947. Crude was 47 cents the barrel. Gas was 14 cents the gallon. Silver still backed our paper.
Time to peg paper to crude. One paper dollar gets you a half a barrel of oil.
f ’em
I recall $0.39 gas in 1973, but for $0.29 gas I have to go back to the 1960s. Gas wars between stations would get it even lower than that, but prices varied quite a bit between where I lived and the rest of the country, I don’t doubt $0.23 a gallon one bit.
Fossil Fuel Pollution is a not correct at least here in the U.S. The government required that billions be spent on scrubbers, precipitators, low knox burners, Rofa fans, and now conversions to natural gas. Pollution so low that people would be shocked. People just don’t realize it because of the misinformation put out by the media and government.
The government at the same time allows cold to be shipped over seas. There are not any regulations there. It is not about pollution or even global warming. It is about money. Just as everything else is. Money means power.
The sun, volcanoes, and the natural cycle of the planet control temperatures.
We are little pimples compared to that power. I wish more people would see that information put out is about control, agenda 21, dollars, and pure power. It is evil pure evil.
Now they are forecasting a mini ice age due to the sun cycles. Scientist just have no clue regarding climate cycles. We are being used and it is time that people wake up.
I do believe there should be regulation about pollution. We should try to keep the planet clean. It is not what the government is doing that for though.
As usual follow the dollar.
I recall gasoline at 21 cen6ts a gallon6. The economy was going fine at the time. new cars were common6 everyone who wanted a job had one Its all hype
Call this a heckle: The price of prime steak has dropped to $2 a pound…oh woe is us.
I don’t see what the problem is for Joe Consumer. Apart from transportation and heating, isn’t absolutely everything made from petroleum? Wouldn’t the glut mean all those prices would be lower?
I can see how it might be a problem for elitist shitstains such as Goldman Sucks. But how is it such a desperate problem for the 99% of us?
It isn’t a problem for us knucklegraggers at the bottom of the food chain, TPTB just want us to think high prices are good for us, like Brussels sprouts.
Not to worry, the BLS has it all planned out……… no COLA’s for years like the feds O interest rates and QE to keep bank rates down.
Funny though how one wants to keep inflation “low” and the other claims to want it “higher”
what a skitzo mess
Folks round here been crying oil going to $20 since the end of last year…still hovering in $40 – I’ll stsrt to get exited when it breaks $30 handle, until then it’s just jaw jacking.
What we need is War
I am happy to pay more at the pumps if Russia takes out all those people that keep chopping heads off including ISIS, Sauid Arabia and Qutar.
We will have war. Our children will die fighting it. We will fight Isis which we supplied with weapons. Truth is though that the war will be fought over money and power which they all are. This time though it will probably develop into a much larger war between powerful nations.
It could mean that millions die comprised of many religions. You can just see the writing on the wall.
I have been away for awhile. It is good to be back and I hope every last one of you is doing great. May god bless you all.
What exactly is economic disaster? The economic system is man made. It’s not some kind of living creature, that if it get ill or dies then we do too – wtf. In this present time the economic system is nothing more than a control system, that seems to work pretty well for a small percent. So from that perspective ‘economic disaster would seem like a really good thing for the vast majority.
I have to agree that this economic system only works for a few people and needs to break. The transition can be pretty harsh… that is why no one has started a revolution. The everyday life has to be impossible. We are close and if the powers that be are smart they will back off a hair. I don’t see a back up in the offing. Possibly because they do believe in global warming and think the crash will be planet wide as in the 6th extinction. The goal is to kill 7 billion human beings… so the rich and their servants get a reset. I worked for the servants of the megawealthy. Even they want 7 billion humans to die because they think the elite will save them. Hahaha at least I know I am expendable! A few will survive anyway. And how hard is it to kill so many? Not much really does.