I have been right the whole time, Russ. And now reality is moving *WAY* too fast for you to keep up. Your lame peak oil denier crap won't work anymore.
Depletion means geological depletion. No matter how hard you pump, you can't get it up.
On the other hand, fracked oil will decline because it is no longer profitable for oil producers. Surely you can understand that.
You and I have discussed the concept of depletion many times over the years. Now, you suddenly can't remember what it means. You are full of shit, Russ. You are just trying to create confusion and in the process you are only embarrassing yourself (further!). If you have any good arguments, make them. If not, please go away. You are wasting my time.
Fracking is not cheap enough to be sustained because oil prices are nowhere near $100 a barrel. Last time I checked, WTIC was $28.78!!!
The FED enabled fracking with easy credit:
http://www.zerohedge.com/news/2016-01-1 ... mple-chart
Correlation Or Causation: How The Fed Helped Create The Global Oil Glut (In 1 Simple Chart)
Submitted by Tyler Durden on 01/13/2016 19:45 -0500
Easy money by The Fed expanding their balance sheet ENABLED tight oil to be produced 'economically'...
But the signals this sent to the market became self-fulfilling (thanks to an endless Fed put) further creating record US crude production (as the oil 'gold rush' ensued), forcing a real 'deflating' world to be 'glutted' with ever-increasing output of mal-investment-driven 'expensive' oil...
of course until that facade of 'boom', busted and crushed the price of the over-produced by 75% (back to 'reality')
Can you spot the moment The Fed jumped the shark?
......
I think it is very interesting to note that the Fed initiated QE3 right after the 2012 Etp crossover event. But all that easy Fed money was no longer able to make the price of oil rise. All it did was keep raising production, which made the glut much worse. And this is what made the oil price drop even lower than Etp model forecast.
When it happens, you won't need me to point it out to you.
---Futilitist
Lol, so now you are also wrong about being right....or is it right about being wrong? We'll leave that to the philosophers.
Because of elasticity, small changes in supply can have a huge impact on price. Previously OPEC would have absorbed it, but they've decided that 10% of total is too much and is something they are unwilling to absorb.
it is as simple as-- quit twisting your own words that were/have been shown that you are with your own words.If my words are being intentionally twisted and I try to clarify my intended meaning, that is not backpedaling. On the other hand, what you are doing is trying to create confusion.
Of course not, krash661.
1. What you are saying is gibberish.
2. I am not wrong.
---Futilitist
Oh, righ, yeah, we'recommend on the same page.
I also still think Saudi Arabia has something up their sleeve as well.
which is why i said " in a sense the thoughts should be-- why is iran increasing production when they know very well it will cause prices to drop even further-- it is like why would they want the price to drop even further. "
Me too! I was hoping Futilitist was right - uh, not the apocalypse part the lower oil prices part...
The Etp model forecasts that oil prices could reach as high as about $65 this year, though I seriously doubt that will happen. So, yes, the Etp model is in agreement with the current oil price. And no, the model has not been refuted in any way.
Soon.
I am pretty sure you are about to get them.
I am right about both.
Wrong. I read really bad economic news every day. I just checked back in after some time away to find this thread was active again. I am glad this important topic generates so much interest.I think Fute will keep schtum for the next few months now. He only pops up, salivating, when he thinks he has read about some really bad economic news.
The Etp model forecasts that oil prices could reach as high as about $65 this year, though I seriously doubt that will happen. So, yes, the Etp model is in agreement with the current oil price. And no, the model has not been refuted in any way.
Soon.
I am pretty sure you are about to get them.
I am right about both.
Wrong. I read really bad economic news every day. I just checked back in after some time away to find this thread was active again. I am glad this important topic generates so much interest.
It is a quiet Easter weekend. The oil and stock markets are closed. They open (after 3 days off) on Monday morning. Which way do you think they will go?
---Futilitist
That is one hell of a model he has got there. The model apparently says oil prices will be between $10 and $65! Hard to be wrong with that range.
So I guess all I can say is "Hardy-Har-Har".You sound like you almost believe that. Well, I guess this is goodbye then, since we'll obviously never see each other again, because oil prices are only going down.
---Futilitist
ahh-- a change-up now.
(shakes head)-- comical.They've been delayed by the heavy traffic caused by lower gas prices and a growing economy.
Where can I read more details about this new prediction?