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Oil Prices Set To Hit 150 Dollars A Barrel In Less Then Two Years According To Bernstein Research

PEB

PEB

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"Despite short term peaks and valleys, and a recent agreement by OPEC to ease production restrictions, the overall trend in oil prices is on the rise.

That's the conclusion of Bernstein research, an investment research company, which forecast last week that oil could hit $150 a barrel by 2020, just a couple of years from now, according to an article in the Energy Security Weekly Update.

Those levels would surpass the $147 per barrel that oil hit in 2008, and could represent nearly a doubling of today's gas prices. (Oil closed around $70 on Wednesday.)"

You best be putting some money away in a rainy day fund because the last time it went over a 100 dollars a barrel we had the biggest economic downturn in the last 1/2 century. We are talking about 6.50 a gallon for gasoline and heating oil. Russia going to be partying like it was 1979 all over again.

https://www.greencarreports.com/new...ld-double-by-2020-boosting-electric-car-sales


https://www.zerohedge.com/news/2018-07-09/bernstein-oil-may-jump-past-150-chronic-underinvestment

https://www.bloomberg.com/news/arti...0-feared-as-investors-demand-cash-over-growth
 
Not surprising at all given the economic conditions of OPEC during the last 10 or so years.
 
Send the stable genius dealmaster over there with a ready bag of rhetoric and we'll soon have all the cheap oil we need
 
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Bring on Scottish Independence..... woop woop!
 
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Sounds like they are trying to sell futures.
 
Liquid Smoke said:
Why? Does Scotland produce a lot of oil? Maybe you guys could put a bunch of windmills all over the highlands?
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yup
It is important to note that the amount of oil in the North Sea is not the same as that which can be recovered, known as the barrels of oil equivalent (boe) of reserves.


One report published earlier this year by Professor Alex Kemp of Aberdeen University estimated that as much as 11 billion barrels of oil equivalent could be recovered from the UK’s continental shelf until 2050.
Click to expand...
https://www.scotsman.com/news/how-much-oil-is-left-in-the-north-sea-1-4613094
96% of UK oil is in Scottish Waters :D


oh and those "windmills" produce more than 100% of Scotlands electricity needs.... we can power our entire nation on wind power. We export electricity to england
 
Liquid Smoke said:
How they gonna produce the electricity?
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Nuclear, Coal, Geothermal, Wind, Solar, Hydroelectric, Waste burning, Waves

Ann using Oil to generate electricity at power plants , which then powers electric cars, is more efficient than having every car burn the oil.
 
MicroBrew said:
Nuclear, Coal, Geothermal, Wind, Solar, Hydroelectric, Waste burning, Waves

Ann using Oil to generate electricity at power plants , which then powers electric cars, is more efficient than having every car burn the oil.
Click to expand...
None of these are cheaper than digging a hole in the ground and burning some dead thunder lizards. Sorry.
 
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