We're Running Out of Oil! BP Finds A Mere 3 blln Barrels 250 Miles from Houston

Discussion in 'Economics' started by ByLoSellHi, Sep 2, 2009.

  1. When it comes to trading, Peak Oil, so far, hasn't played a role in my decisions. Most are not aware of it or wrongly assume it is about oil vanishing and so draw the conclusion that it is nothing to seriously consider. It doesn't affect the market - yet.

    This severe global recession obviously has put a damper on demand as well. I will be trading oil soon, likely after this fall when we have a better idea which countries may start emerging from this recession. I don't see a quick recovery anytime soon - but let's say there is one - investing in oil will be a no brainer.

    My concern is that over the next 5-10 years or even sooner, we don't find any major fields, and the gulf countries can't produce what they have promised. Then Oil will go through the roof, and a feedback will result - economies will get crushed and oil will drop again. The world is not prepared. In my opinion, transition technologies/fuels should have been instituted as soon as India and China started being major oil consumers. That's about 3 billion people waiting to get their share and we have done nothing to prepare.
     
    #41     Sep 3, 2009
  2. And what would you replace the internal combustion engine with? Over what period of time? Would take decades...
     
    #42     Sep 3, 2009
  3. bozwood

    bozwood

    Agree about oil being the no-brainer and it may not even pay to get cute with what else to invest in. I think it may be possible to leg-in to a large position over time.

    Also, had not thought of the collapse after the next huge run-up. Pays to try and stay 2 steps ahead.

     
    #43     Sep 4, 2009
  4. Stupid google messes up trivia.

    I had to take a class when i got into the oil industry.

    Blue barrel meant it was from rockefellar, it had 42 gallons at stp

    Basically, you got screwed when you dealt with anyone else, which still happens when you have a small service company operating your wells, got to pay attention to the flow, they don't always report everything.
     
    #44     Sep 8, 2009