Oil Bulls: Peak Oil? Try Peak Demand. 11 billion mile drop in March 2008.

Criminality. I love how refinery runs were down, driving was down 11 billion miles, and gasoline inventories were drawn down.

You fugging criminals manipulating CL contracts are going to kill equity markets.
 
Quote from The Kin:

you fool. It's aggregate demand. Oil is used by every nation in the world for a lot of other things. To look at this one statistic is foolish.

The fair price for crude oil is the current price. Which may change tomorrow by going up or down.

And the BRIC will be the ones dictating future demand, not America.

2.78 billion people and double digit GDP growth rates will kick the shit out of America as the main consumer of crude. If America were to stop all oil consumption today, I give the BRIC a decade to pick up the slack.
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You need to pause and think more about your statements:

-The US is the largest consumer of oil, more then double the consumption of China/day at present.

-The majority of Brazil's cars run on Ethanol - govt. subsidized no-less. Brazil's current and future crude consumption is microscopic.


These are facts, not opinions. The following is an opinion:

-China and all the 'emerging' economy's will fall before they surpass the US. Every modern economy has had a depression in the past 100 years. China has yet to have one. Think they are immune? Then it's not a 'free market' system, in which case it will implode under the stress.


Regards,
 
Quote from ByLoSellHi:

Criminality. I love how refinery runs were down, driving was down 11 billion miles, and gasoline inventories were drawn down.

You fugging criminals manipulating CL contracts are going to kill equity markets.
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CL looking weak for a supposedly bullish news for oil. If CL ends below $130 today, I think it's open season to short the contract.

FYI, I'm down $6k between my RBOB and USO shorts but I got enough room to let this go against me up to RBOB $3.51
 
Quote from Pekelo:

Man, you are an idiot...



It is pathetic when someone is actually proving himself wrong and of course doesn't realize it.
It is not the demand that is peaking but the production, having been in a plateau since 2005. Of course eventually demand can not be bigger than production, so seemingly demand is peaking too, or what it is called demand destruction is happening by price increase.

Oil's price is going to fluctuate in the short term, so drawing conclusions based on daily fluctuation is just stupid...
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The difference between you and I is that I would not have called you an idiot, even though I thought you were wrong.

It turned out that you were wrong.

That's the difference between someone with and without class.
 
Quote from ByLoSellHi:

The difference between you and I is
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...that I can make a logical argument and you can not. Also I don't argue against facts!

I called you an idiot because you are. Anybody who argues against facts are idiots by definition.

The previous peak of crude oil was back in May 2005, when oil was at $50 a barrel. In the last 3 years price first doubled and production still was unable to pass that high until this February when a new record crude production occured. Do you know by how much???

0.2%!! That's it! The new record for crude was 1/500 bigger then the previous high 3 years earlier. Do you know what it is in plain French??? A PLATEAU...

That is where crude oil is at this moment, production is hitting a high plateau and unable to pass it because of the fact of peak oil. If we get lucky this plateau is going to be a long one before the inevitable decline starts. Until that production is going to fluctuate between a narrow range and prices are going to go INEVITABLY higher. (in the long run of course)

So there it is. Just don't say I called you names without a good reason.... :)
 
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