Seeking Alpha

"Peak oil is nowhere to be found on this futures curve," writes Sober Look, noting the sharp...

"Peak oil is nowhere to be found on this futures curve," writes Sober Look, noting the sharp drop in contract prices for 2017 on out as near term prices have rallied. Part of this surely has to do with lower expected demand from China, but new supply, whether in the States, East Africa, or elsewhere is playing a role as well.
From other sites
Comments (7)
  • Tom Guttenberger
    , contributor
    Comments (717) | Send Message
     
    Yes, the distant futures are amazingly cheap. These are so thinly traded, but still, it is amazing the amount of backwardation. There must be a deflationary expectation by participants trading these, or the backwardation go from steep to insane.
    20 Apr 2012, 03:21 PM Reply Like
  • Charles A. Smith
    , contributor
    Comments (1118) | Send Message
     
    "Twilight in the Desert", indeed.

     

    Paging Matt Simmons...
    20 Apr 2012, 03:24 PM Reply Like
  • Gary Jakacky
    , contributor
    Comments (2557) | Send Message
     
    Peak oil has always existed only in the minds of envirowhackjobs at EPA.
    20 Apr 2012, 03:32 PM Reply Like
  • davidingeorgia
    , contributor
    Comments (2713) | Send Message
     
    "Peak oil is nowhere to be found in the real, non-fantasy world," writes Sober Look...

     

    There. Fixed it for you.
    20 Apr 2012, 03:36 PM Reply Like
  • FranzZemen
    , contributor
    Comments (28) | Send Message
     
    And yet its a physical truth. Only the timing is in question.

     

    Of course by then Chevy will have a Volt that's worth buying.
    20 Apr 2012, 04:52 PM Reply Like
  • Charles A. Smith
    , contributor
    Comments (1118) | Send Message
     
    Only a "physical truth" as long as we have a need for crude oil.

     

    Equivalent of whale oil in the 19th century. I'm sure somebody was arguing about peak whale populations at that time too.
    22 Apr 2012, 03:56 PM Reply Like
  • FranzZemen
    , contributor
    Comments (28) | Send Message
     
    Thanks for the laugh! Although I agree with the principle behind this silly comment.

     

    Whale oil was simply not as important to (then) global societies as oil is today.
    23 Apr 2012, 01:05 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector