Ford Jellymoulds Posted May 28, 2009 Share Posted May 28, 2009 (edited) DAILY MAIL Fears that motorists could be hit with further petrol price hikes have followed predictions that oil could soar to the $80 a barrel mark. Oil prices have already jumped from below $35 in March on investor expectations that the worst of the global economic slowdown is over - hitting $63.43 a barrel today. But Saudi Arabian Oil Minister Ali al-Naimi said yesterday that he saw evidence of economic recovery and the world was ready to cope with oil at $75-$80 a barrel. This is a rise of almost 25 per cent on the current price of crude oil. Prices peaked at $147 a barrel last year before the recession hit. He said it could be reached before the end of this year, although other ministers said it could take longer than that. Already oil has reached six-month highs well above $60 and above the $50 a barrel Naimi had previously said OPEC could live with while the world returned to economic health. LINK Fiesta sales could get ooooooooooout of contol in the US :happy feet: Edited May 28, 2009 by Ford Jellymoulds Quote Link to comment Share on other sites More sharing options...
matthewq4b Posted May 30, 2009 Share Posted May 30, 2009 And this is a surprise to any one how ? Matthew Quote Link to comment Share on other sites More sharing options...
aneekr Posted May 30, 2009 Share Posted May 30, 2009 And this is a surprise to any one how ? Matthew No surprise. The CBOE Oil index has risen appreciably since its nadir in late February/early March '09. I'm going long on it... Quote Link to comment Share on other sites More sharing options...
jpd80 Posted May 30, 2009 Share Posted May 30, 2009 (edited) And this is a surprise to any one how ? Matthew It is to me Matthew as the US stockpiles of Oil and Gasoline are at near record levels, last week I read (Bloomberg?) gasoline stockpile was over 200 million barrels and oil just over 300 million barrels. If those stockpiles are high and demand suppressed, where does that leave oil prices going? I think they will run out of steam for a bit until stockpiles drop back considerably, maybe end of year? The government talked about stopping excessive speculation on energy stocks and future contracts, I wonder if that has been done yet or are they being tardy in front of another surge? Edited May 30, 2009 by jpd80 Quote Link to comment Share on other sites More sharing options...
armadamaster Posted June 1, 2009 Share Posted June 1, 2009 It is to me Matthew as the US stockpiles of Oil and Gasoline are at near record levels, last week I read(Bloomberg?) gasoline stockpile was over 200 million barrels and oil just over 300 million barrels. If those stockpiles are high and demand suppressed, where does that leave oil prices going? I think they will run out of steam for a bit until stockpiles drop back considerably, maybe end of year? The government talked about stopping excessive speculation on energy stocks and future contracts, I wonder if that has been done yet or are they being tardy in front of another surge? That all sounds intriguing until you remember that oil isn't subject to supply and demand. It's only subject to "perception". Quote Link to comment Share on other sites More sharing options...
jpd80 Posted June 1, 2009 Share Posted June 1, 2009 That all sounds intriguing until you remember that oil isn't subject to supply and demand. It's only subject to "perception". So the market must be misinformed as to the size of stockpiles, or they're overcompensating for OPEC cuts. Wasn't one of the major topics at the recent G20 summit the regulation of speculation in energy stocks like oil? Quote Link to comment Share on other sites More sharing options...
Ford Jellymoulds Posted June 1, 2009 Author Share Posted June 1, 2009 (edited) Chinese economy has started to grow again over the last few months it imported 14% more oil last month, it is also on a quest and buying spree of oil companies, they are even investing in Canada's oil sands companies in a bid to control oil supply to China in the future. Some are saying $100 oil will return in a very short period of time with an upturn in the worlds economy causing the increased demand for oil. Edited June 1, 2009 by Ford Jellymoulds Quote Link to comment Share on other sites More sharing options...
matthewq4b Posted June 1, 2009 Share Posted June 1, 2009 It is very simple demand did not fall off as drastically as expected and is on the rise again. Get used to near $100 BBL oil from here on out folks. Matthew Quote Link to comment Share on other sites More sharing options...
jpd80 Posted June 1, 2009 Share Posted June 1, 2009 (edited) It is very simple demand did not fall off as drastically as expected and is on the rise again. Get used to near $100 BBL oil from here on out folks. Matthew I don't believe demand is as high as the market is pricing but if it is, Ford is ready this time with products coming to suit this very prospect. No matter what, I think Ford is right where they want to be, in the box seat. Edited June 1, 2009 by jpd80 Quote Link to comment Share on other sites More sharing options...
matthewq4b Posted June 1, 2009 Share Posted June 1, 2009 (edited) I don't believe demand is as high as the market is pricing but if it is,Ford is ready this time with products coming to suit this very prospect. No matter what, I think Ford is right where they want to be, in the box seat. Yes they are much better placed in the market now. Maybe Allan deduced to consult some Oil Industry insiders this time. Last Dec most of the big oil sands projects were postponed. In part due to the falling price of Oil and in part due to out of control construction costs. Now that Oil has rebounded and construction costs have corrected out of the stratosphere. The Projects are once again on track. With Esso's 8 Billion Dollar Kearl facility being the first to charge back forward. Our Commercial construction sector had a 90 day slow down and housing is once again on the rise. Now if the damn banks would just start loaning money things would be back to normal in a few weeks. But it looks the economy we will be back to where it was early last year by the end of the summer regardless. We are calling the economic slow down a 90 day recession here in Alberta cause that is about how long it lasted.. Matthew Edited June 1, 2009 by matthewq4b Quote Link to comment Share on other sites More sharing options...
jpd80 Posted June 1, 2009 Share Posted June 1, 2009 (edited) Our Commercial construction sector had a 90 day slow down and housing is once again on the rise. Now if the damn banks would just start loaning money things would be back to normal in a few weeks. But it looks the economy we will be back to where it was early last year by the end of the summer regardless. We are calling the economic slow down a 90 day recession here in Alberta cause that is about how long it lasted.. We're probably another month longer than you guys but are now picking up steam again. Hopefully the Americans will mill up in Q3 and show us all what they're made of..... Maybe higher gas prices, inflation and wage rises will kick their economy in the tail and get her goin'... Edited June 1, 2009 by jpd80 Quote Link to comment Share on other sites More sharing options...
matthewq4b Posted June 1, 2009 Share Posted June 1, 2009 (edited) We're probably another month longer than you guys but are now picking up steam again. Hopefully the Americans will mill up in Q3 and show us all what they're made of..... Maybe higher gas prices, inflation and wage rises will kick their economy in the tail and get her goin'... Glad to hear you guys are commming around as well. I hope the U.S picks back up as well. But there are some other underlying forces at work in the U.S besides just the economic slow down. I spent a couple hours on the phone witha buddy of mine in Indianna yeasterday and in his neck of the woods they are expecting it to get worse before it gets better. Fortunetly he is in resonably secure employment position and hopes it will not affect him. He is considering moving here. He passed up a 150K a year job (a little less than twice his current income) here in Alberta that I shot his way last fall. And is now kicking himself in the ass for doing so lol. Next one that comes up I'm pretty sure he will jump on it. I'll be interested in what our unemployment figures are for May. As that is the real barometer. Matthew Edited June 1, 2009 by matthewq4b Quote Link to comment Share on other sites More sharing options...
jpd80 Posted June 1, 2009 Share Posted June 1, 2009 Glad to hear you guys are commming around as well. I hope the U.S picks back up as well. But there are some other underlying forces at work in the U.S besides just the economic slow down. I spent a couple hours on the phone witha buddy of mine in Indianna yeasterday and in his neck of the woods they are expecting it to get worse before it gets better. Fortunetly he is in resonably secure employment position and hopes it will not affect him. He is considering moving here. He passed up a 150K a year job (a little less than twice his current income) here in Alberta that I shot his way last fall. And is now kicking himself in the ass for doing so lol. Next one that comes up I'm pretty sure he will jump on it. I'll be interested in what our unemployment figures are for May. As that is the real barometer. Matthew Thanks matty, You wouldn't recognize Gladstone, Rio Tinto built an Alumina refinery 4 years ago out towards Shale Oil and Bechtel are half way through stage two expansion, two LNG plants breaking ground later this year about September. Coal terminal is being doubled by Wiggins Island next year, another 60 million tons/year. Shale oil is being leveled and Sandefer are looking at conventional retorts for Shale oil production. That's about $8 billion in projects in a town of 35,000 John Quote Link to comment Share on other sites More sharing options...
matthewq4b Posted June 1, 2009 Share Posted June 1, 2009 (edited) Thanks matty,You wouldn't recognize Gladstone, Rio Tinto built an Alumina refinery 4 years ago out towards Shale Oil and Bechtel are half way through stage two expansion, two LNG plants breaking ground later this year about September. Coal terminal is being doubled by Wiggins Island next year, another 60 million tons/year. Shale oil is being leveled and Sandefer are looking at conventional retorts for Shale oil production. That's about $8 billion in projects in a town of 35,000 John That is great to hear. The project always was viable it just needed some seriuos investment to really get it going. Now would be the time to buy property there. An 8 billion dollar project equals about 8000 construction jobs, the general rule of thumb is 1000 construction personal for every billion spent if they are going build it in industry standard time frames with moduals. If it going to be staged or phased then the number will be lower. If they are going to stick build it all at once then the number could hit 10,000 personal. That town is not going to know what hit it and propery values and rent could double triple or even quintuple. Matthew Edited June 1, 2009 by matthewq4b Quote Link to comment Share on other sites More sharing options...
jpd80 Posted June 1, 2009 Share Posted June 1, 2009 That is great to hear. The project always was viable it just needed some seriuos investment to really get it going. Now would be the time to buy property there. An 8 billion dollar project equals about 8000 construction jobs, the general rule of thumb is 1000 construction personal for every billion spent if they are going build it in industry standard time frames with moduals. If it going to be staged or phased then the number will be lower. If they are going to stick build it all at once then the number could hit 10,000 personal. That town is not going to know what hit it and propery values and rent could double triple or even quintuple. Matthew Definitely staggered over a couple of years, Gladstone learned it lesson two boom cycles ago. slight lull at the moment due to recession worries but we should pick up again by September. Quote Link to comment Share on other sites More sharing options...
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