Long Oil into Opec Meeting - Your take

[spanish89]

And that is complete nonsense about oil going to 30 btw!! LOL

Although your ''mate on the floor'' didnt say it.

You DONT really have a mate on the floor, you made that up cos you just got caughtup in posting and the vibe and wanted to seem to be part of the 'traidng world'. LOL


But this is the internet, so behnind our screens we can become anyone we want..



Oil isnt going anywhere near 30 though, since if it fell that low half the oil selling countries would just 'cease selling'!!
As they would be 'actively losing money' if they sold that low as it costs them more to produce it.

And it dont take much of a business man to workout that its better to just earn NOTHING, than to work hard making and selling something only to LOSE MONEY each day.

 

[Mercor]

What percent of cars will be electric by Z11.

25%? demand may actually be flat over next 36 months

 

[TraderZones]

Quote from Mercor:

What percent of cars will be electric by Z11.

25%? demand may actually be flat over next 36 months

Try 2-3%. Battery storage is still a HUGE problem. Using Lithium batteries costs a fortune.

And if GM thinks people will be lining up for a superexpensive Volt just because it will go 40 miles on a charge are seriously misinformed. A HUGE waste of company efforts. [They would do better to have invested all that money to get an extra 3mpg out of their fleet.]

There are people getting better than 40 miles on a charge with lead acid batteries in the trunk of a clunker compact for peanuts.

 

[Mercor]

Israel started a program to be electric in 5 years.

Cars come with no batteries, Gas stations will drop a whole charged battery pack into your car. When it is low another station will switch the packs.

The battery costs are spread out over all drivers

 

[Broken_Trades]

So traders are going to sell on news of a cut in production because its a bearish indicator that demand has dropped off?

Hasn't OPEC been saying for the last 8 months that supply and demand does NOT explain the recent increase in oil prices?


To me it seems like oil prices are trading more with the broader indices than anything else right now. If the DOW is up than Oil is up.

 

[staffpro]

Quote from Mercor:

Israel started a program to be electric in 5 years.

Cars come with no batteries, Gas stations will drop a whole charged battery pack into your car. When it is low another station will switch the packs.

The battery costs are spread out over all drivers

the cost of implementing a system like this in north america would out weight the benefits by A F#@%@# LOT.

PPl are debating whether or not to switch our infrastructure to NG, they are debating the costs of that, forget about making it even more complicated with batteries...

 

[staffpro]

Quote from Mercor:

What percent of cars will be electric by Z11.

25%? demand may actually be flat over next 36 months

here in the states. ZERO, think about it if you have the choice to buy a 15k Corolla or a 40K Volt (THAT STILL USES GAS) are people really stupid enouhg to think they will save $25k of gas over the life of the car. The same argument goes for hybrids. Prius's aren't exactly doing that good and they get good gas mileage.

If any change happens don't expect it to be overnight, this whole process of weaning ourselves off of foreign oil or from gasoline vehicles to electric vehicles will take 30-40+ years.

 

[TraderZones]

Quote from staffpro:

the cost of implementing a system like this in north america would out weight the benefits by A F#@%@# LOT.

PPl are debating whether or not to switch our infrastructure to NG, they are debating the costs of that, forget about making it even more complicated with batteries...

Natural Gas is MUCH more likely. It makes considerably less CO2 and costs much less and does not need to be imported. Now if the govt weren't so anal retentive about preventing people from converting their cars to CNG (must be done at a "qualified site" and costs some $5000. And the fill it up at home requires like a $3000 device from Honda.

Let the free market do its work, and mass produce the DIY fill up at home. If the device were $1000 and the conversion were done cheaply, it would be the PERFECT commuting medium. Batteries costs many thousands and have a limited life.

Someone replace your $5000-$8000 battery pack in Israel? Give me a break!

 

[Juzmister]

Low oil prices are shocking for alternative fuel schemes! In 1973 when there was an oil crisis individuals lowered their reliance on Crude...When prices went back down most thought about "alternative" fuel sources went out the window.

What reason is there for oil prices to go back to $140? Little...The funds have found more interesting things to dabble in, world demand for the stuff is down and opec can't sell something that the world doesn't need!

I tried an oil play the other day, position was up when I went into bed and was dangerously in the red when I awoke...I'm not going to touch the stuff, unless it's a day trade..

 

[cunparis]

Quote from Juzmister:
I tried an oil play the other day, position was up when I went into bed and was dangerously in the red when I awoke...I'm not going to touch the stuff, unless it's a day trade.. [/B]

did you enter on a known resistance or support? I think oil is too dangerous to daytrade. It just came back to the trendline yesterday and was screaming "SHORT ME!".