Jim Rogers: Oil will hit $100

Ok, i disagree it's a "scam" (wait, what the HELL am i saying) but lets look at some figures..........the ones that matter.


Ok, peak oil is rubbish-at current prices, or less, what will a barrel be worth, inflation adjusted, by 2020?
Let's factor in some explorative/technology expenses, too-they only go up, hence the respective lack of r&d by major players in the industry.

Let's face it, if katrina wiped some big (nat gas) co's of the map insurance and re-investment wise, then this is an industry running on tight profit margin's already, right?


(chuckle, guffaw)

Seriously-it's already been pointed out speculation has been running this market for a while, ok great.
So what's the real cost of oil-and what WILL it be?
 
The stupidity level here never stops to amaze me...

Quote from Alex_in_Oz:


Push that Peak Oil date back further keep pushin'!:D
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Mind you, if you keep pushing back the date, that doesn't mean Peak Oil theory is wrong or you disagree with it.

You only disagree with the TIMING of it!!! And that is perfectly fine...

Unless you are saying that we will NEVER run out of oil (like oilsources replenish themselves), you agree with Peak Oil...

End of story... :)
 
22 out of 35 countries oil fields are in decline, representing 70% of the oil fields in the world. New discoveries have to make up for the declines in other places. The figures are out on the 14th of September for August. They have not risen for six months.
 
it doesn't matter...

this was compiled before this week's find
Quote from 2cents:

same sources here, EIA funnily enough...

seen this report?
http://www.eia.doe.gov/oiaf/ieo/oil.html
"It is important to note what this approach did and did not assume. A business-as-usual oil market environment was assumed. Disruptions in oil supply for any reason (war, terror, weather, geopolitics) were not assumed. It was assumed that all non-OPEC oil projects that show a favorable rate of return on investment would be funded. For the period out to 2030, there is sufficient oil to meet worldwide demand. Peaking of world oil production is not anticipated until after 2030. "
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Quote from marketsurfer:

he is wrong. very very wrong. merely promoting his positions.

we are holding all oil shorts at this time.

surf
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the latest view here is oil to < = 62 by 1.27.2007.

surf
 
Quote from just21:

22 out of 35 countries oil fields are in decline, representing 70% of the oil fields in the world. New discoveries have to make up for the declines in other places. The figures are out on the 14th of September for August. They have not risen for six months.
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And yet, the proven reserves now stand at about 40 years supply while back in 1980 when almost no one gave it much thought they stood at about 30 years. Could it be speculators doing a pump and dump?

Seneca
 
Quote from 2cents:

For the period out to 2030, there is sufficient oil to meet worldwide demand.
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Somebody PLEASE explain this to me, because my 3rd grade education seems to be insufficient:

Supposed there is no worldwide disruption, how can there be sufficient oil to meet worldwide demand for the next 25 or so years, when the growth of demand is already faster than the growth of supply????(and we suppose this will stay like it is)

Looks to me like a barrel having a bigger hole on the bottom leaking out liquid faster than getting it refilled, but of course I wouldn't understand such things...

P.S.: Also, if there is nothing to worry about, why Prez Magnifficent is talking about conservation and the oilcompanies are paying ads talking about carbonfootprint and other baloneys???
 
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