dot.com craze 2.0: Oil spike driven by Pickens and GREEN advocate Arjun Murti @ GS

[flyingiguana]

factor in supply side, US dollar declines and negative real rates. demand side doesn't always tell the tale

 

[Daal]

Quote from ByLoSellHi:


In a world awash in crude oil, more than enough already accessible without exotic extraction methods, we will all look back at this and wonder how things were allowed to become so disconnected from the basic laws of supply and demand.

"World reserves are confused and in fact inflated. Many of the so called reserves are in fact resources. They’re not delineated, they’re not accessible, they’re not available for production"

— Sadad Al-Husseini, former VP of Saudi Aramco, October 2007

I wonder who knows more about the oil industry you or someone who worked there all his life

 

[ElCubano]

Quote from monty21:


$6 a gallon is incredibly expensive, but still manageable in my opinion. .

your plane will have to slow down another 10 minutes..... now thats goign to really start pissing people off...

 

[ByLoSellHi]

Quote from Daal:

"World reserves are confused and in fact inflated. Many of the so called reserves are in fact resources. They’re not delineated, they’re not accessible, they’re not available for production"

— Sadad Al-Husseini, former VP of Saudi Aramco, October 2007

I wonder who knows more about the oil industry you or someone who worked there all his life

I wonder who has a vested interest to make such statements without once ever opening up their books for the world or any outsider to see?

 

[Daal]

you must have missed the former part, plus his statements(including that production already peaked) contradicts of the executives of Saudi Aramco themselves(who do have interests to protect)

 

[trefoil]

...and that a country's share of OPEC output is regulated by the amount of their reserves. Which gives all OPEC countries a vested interest in INFLATING their reserves.