The price of oil could rise to as much as $150/barrel in the near term if investment in the oil...

The price of oil could rise to as much as $150/barrel in the near term if investment in the oil producing countries of North Africa and the Middle East is lower than required to meet demand growth from emerging economies, the International Energy Agency reports. Energy demand will increase by one-third between 2010 and 2035, with 90% of the growth in non-OECD economies.

Comments (7)
  • alan.greenscam
    , contributor
    Comments (353) | Send Message
    Nice try, there's more oil in this world than there is fresh air, this, just more fear mongering, more self serving propaganda to scurry up prices for ?????.... lol, ya, we know who!
    9 Nov 2011, 09:17 AM Reply Like
  • Kin Peng
    , contributor
    Comments (11) | Send Message
    I have worked at VARCO, later, National OilWell Varco. I have been on rigs and seen the action.


    You are right on the oil bit. There's still quite alot of oil out there.But NOV overcharges on all equipment and services. One screw that we buy with all the specs needed from API plus API certification costs, plus all the tests needed to prove the screw is of the correct material, etc. etc... all adds to the cost of the Rig contracts. Rig contractors like Diamond Offshore and Transocean etc, etc. NOV has a ridiculous profit too.


    These cost are then passed on to the Oil giants like ExxonMobil. who hires the drilling contractors to drill for the oil.


    So it's like a hierarchy of costs that finally gets passed on to the consumers.


    When it becomes a barrel oil, you can imagine all that cost that the big players need to factor iin. The Saudis need them high. For they have all these costs too.


    You can't beat them. You have to join them. Start looking at "Seadrill" and NOV. For the europeans, start looking at Lewco.


    For they are the benefactors of high oil. By the way, I liked your comment.
    9 Nov 2011, 11:14 AM Reply Like
  • kwm3
    , contributor
    Comments (2454) | Send Message
    some folks think the low margin requirement set by the CFTC makes each person pay 3 times more for gasoline than if prices were free market driven (i.e., supply/demand)--i join their camp. write your legislator and "cc" the CFTC. they were going to address this issue in proposed legislation, but instead backed away and set a 25% limit on a person's control of oil futures... thing that make me, and OWS go hmmmmmmm.....
    9 Nov 2011, 10:51 AM Reply Like
  • Hillbilly Stock Star
    , contributor
    Comments (747) | Send Message
    North Dakota Light!
    9 Nov 2011, 01:16 PM Reply Like
  • Hillbilly Stock Star
    , contributor
    Comments (747) | Send Message
    That and Nat/Gas Liquids!
    9 Nov 2011, 01:19 PM Reply Like
  • Hillbilly Stock Star
    , contributor
    Comments (747) | Send Message
    Hello "Picken's Plan"!
    9 Nov 2011, 01:26 PM Reply Like
  • kartikchawla
    , contributor
    Comments (2) | Send Message
    CFTC margin requirements make sense. but why is it that iea supply data that concerns american supply-demand situation (agreeing americas largest oil consumer ) is directly mimiced in oli futures traded in india (mcx) or dubai or china. why is it that the news of bad weather which is affecting united states drives prices of oil futures in india/asia. before rational margin requirements we need rationality to understand the exact underlying of demand supply situation, the exact market forces acting and the exact relationship between them. trading oil futures or as a matter of fact any commodity has become more of gambling / speculation without concerning the underlying.
    9 Nov 2011, 07:20 PM Reply Like
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