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

[woodguyatl]

None of these are cheaper than digging a hole in the ground and burning some dead thunder lizards. Sorry.

Is coal not dead lizards?

 

[woodguyatl]

It won't and can't hit that price. There are too many reserves that become economically before you hit $150. Oil activity just in Texas starts flaring up around $65 a barrel. I can't find the quote and someone correct me if I am wrong but Texas has larger reserves than Saudi Arabia. It just is more expensive to pull it out of the ground and refine it. The world has massive reserves but just not that much oil that can be pulled out of the ground for $8-12 a barrel. Oil companies at talks talk about crossing peak DEMAND of oil. They know things are going to slide over to electric and what have you but oil is likely never to peak again like it did from 2010-2014 or that run up to $140 a barrel 2007-2008.

Why didn’t those massive reserves come on line in 08? Were they not available?

 

[Ophydian]

There are too many alternatives to OPEC now to see significant increase in oil prices. One one side you see advances being made in solar and electric cars and on the other side the US has become a next exporter which has really made a dent in OPEC power.

If gas/diesel prices hit any higher then the delta in prices become big enough for Domestic LNG starts to become a viable alternative again which would really put a hurt on oil prices.

 

[TeTe]

Why didn’t those massive reserves come on line in 08? Were they not available?

Ten years ago we were producing half of what we produce today. We just passed Saudi Arabia in oil production recently.

 

[Jorge Luis Borges]

Well boys, get fracking.

 

[Reefer1]

No but I reduced the size of cars I drive I used to own a sports car "3000GT" and a Tahoe got rid of both now drive a small SUV. I need the SUV because I have to tow construction waste from the houses I own and working on. Been driving smaller for years now without problems. I been predicting this coming collapse for 20 years even posting on Sherdog about it back in 2005. Economy is going to collapse because fuel is being controlled by a small group of people who could give to craps about peoples lives. I am fine you wanting to pay 180.00 or more for a fill-up but a lot of people who your hurting are going to hurt even more. This coming collapse is going to make you dream about the good old days of 2009.

lol who i'm hurting ? you really are just some nutter with some fantasy stuck in your head. What a hero you are, poor you in your smaller suv. Good to see what a hypocrite you truly are, Ev and eco friendly only if it does not negatively impact YOUR life. This really show your ev jack off thread for the joke it really is.

There is no collapse coming you nut. Price goes up it make more fields economically viable,

 

[Prefect]

Why didn’t those massive reserves come on line in 08? Were they not available?

The kinks hadn't been worked out of fracking. Fracking pulls up natural gas, oil, and some other stuff. Fracking started coming online around 2010.

 

[Benjamin Burton]

Yes, you can't run nuclear power plants without prior electricity, so if your answer is simply nuclear power, that isn't possible without electricity to run the power plants, where does that power come from? Thin air?

Is it better if 99 percent is cheap nuclear power or none of it?

 

[PEB]

lol who i'm hurting ? you really are just some nutter with some fantasy stuck in your head. What a hero you are, poor you in your smaller suv. Good to see what a hypocrite you truly are, Ev and eco friendly only if it does not negatively impact YOUR life. This really show your ev jack off thread for the joke it really is.

There is no collapse coming you nut. Price goes up it make more fields economically viable,

Really intelligent post as short of logic as it comes you think they are thinking about just flicking a switch an opening new production capacity? This very same thing happened in the past when OPEC continued to cut supplies forcing tons of independents to go out of business. I guess you did not even click on the Bloomberg link where they explain how companies are hording their money or doing stock buybacks instead of investing in new sources of oil. I did more then just buying a smaller SUV I did many things like converting two of my apartments to natural gas and paying someone to remove oil tank. I am planning on going solar for electric but I plan on going big such as 8 kWh with battery and geothermal heating but the combined cost is out of my range around 25 grand.

 

[Prefect]

Is it better if 99 percent is cheap nuclear power or none of it?

There is no such thing as cheap nuclear power. That is the reason there hasn't been a nuclear power plant built in the U.S. since the late 70s. Uranium is dirt cheap but building the plant is ridiculously expensive. Anyone who even suggest building a nuclear power plant in the U.S. clearly doesn't understand power generation. I really wouldn't be suprised if we already saw the last commercial ,not a research pilot, power plant ever built in the U.S. Wind, solar, natural gas, even coal are more competitive. What is the point of building a large unit that might not be competitive and all the expenses are upfront fixed cost? With large fixed upfront cost, the unit better be running 24/7 to recover those expenses otherwise you are screwed. Nuclear power is on par with biomass. When was the last time you heard someone talk about burning peat for power generation? Nuclear power only makes sense in places where there are no other options. There are just too many better options in the states. The reason Japan has nukes is because the other option is diesel generation, which is pretty expensive.

All nuclear power plants have backup generation to run the pumps if the grid goes down.

 

[Benjamin Burton]

There is no such thing as cheap nuclear power. That is the reason there hasn't been a nuclear power plant built in the U.S. since the late 70s. Uranium is dirt cheap but building the plant is ridiculously expensive. Anyone who even suggest building a nuclear power plant in the U.S. clearly doesn't understand power generation. I really wouldn't be suprised if we already saw the last commercial ,not a research pilot, power plant ever built in the U.S. Wind, solar, natural gas, even coal are more competitive. What is the point of building a large unit that might not be competitive and all the expenses are upfront fixed cost? With large fixed upfront cost, the unit better be running 24/7 to recover those expenses otherwise you are screwed. Nuclear power is on par with biomass. When was the last time you heard someone talk about burning peat for power generation? Nuclear power only makes sense in places where there are no other options. There are just too many better options in the states. The reason Japan has nukes is because the other option is diesel generation, which is pretty expensive.

All nuclear power plants have backup generation to run the pumps if the grid goes down.

No one's building them any more because they are so efficient.

 

[Prefect]

No one's building them any more because they are so efficient.

I don't know what you are talking about.

Here is the EIA's yearly report on Levelized Cost of Energy. Nuclear is uncompetitive.

https://www.eia.gov/outlooks/aeo/pdf/electricity_generation.pdf

 

[PEB]

Any questions?