My predictions on OPEC and oil prices

[redpoint5]

Andy- I respect that you called yourself out on that prediction. When prices began to rise, I was tempted to bring up the thread where you made the prediction. I've much respect for people that admit when they were wrong. Also much respect for making a prediction in the first place.

Your forecast for oil prices seems reasonable to me. The only thing I would add is that oil will always be necessary since our world is made of it, and certain transportation such as planes, trains, and ships will need oil for the foreseeable future. As easily obtainable oil is exhausted, prices will increase as the difficulty in mining it increases.

All that said, I believe the price of most everything will drastically reduce in the next 50 years as automation and robotics drives the cost of production ever closer to near zero marginal cost. Finding useful employment will become more challenging as most jobs are eliminated.

https://www.youtube.com/watch?v=5-iDUcETjvo

[Arragonis]

Opec 'will bow to the Saudis’ and keep oil prices low - Telegraph

Saudi Arabia, the most influential member of the Organisation of the Petroleum Exporting Countries (Opec), is highly unlikely to bow to pressure from other members to reverse its strategy of tolerating lower oil prices in order to cripple the US shale industry, City experts say.

[user removed]

Always nice to mix a little competition with some conservation.

regards
mech

[ksa8907]

I have been thinking about this lately and i have concluded that oil prices will rise. Oil producers are pushing for legislation that will allow them to export oil and compete on the world market.

Now, Obama and the EPA really are fond of their cafe standards and ever increasing efficiency, so why would they pass up the chance to increase oil prices and give a reason for better efficiency.

I think the ban on oil exports will be lifted and oil prices in the US will rise back to where they were. Roughly 3.50 to 4 $/gal gas.

[cRiPpLe_rOoStEr]

It seems likely to an increase, but at a certain point it might turn the market more favorable to biofuels, not just the ethanol and algae-based biodiesel but also biomethane.

[gone-ot]

For WHOM does the USGooberment "work"?

[Arragonis]

OPEC exists to control prices.

[freebeard]

Originally Posted by Old Tele man

For WHOM does the USGooberment "work"?

Not one to shrink away from the hard questions, eh?

From my perspective, the top of the 'payramid' (typo, stet) is wreathed in clouds. But I suspect—ultimately—the wealth is going off-planet.

[IamIan]

Originally Posted by Old Tele man

For WHOM does the USGooberment "work"?

My PoV .. not 'work for' ... but ultimately it is an extension of the US governed.

Which is perhaps might be even 'scarier' than if it did 'work for' person X , or top 1% , etc.

[freebeard]

A product of our own creation? That's what the Quantum physicists and Buddhists assert*.

Where from the 'manufacture of consent' as Chomsky put it? Is that what we get to deserve?

Edit: *The Wheel of Karma says that you get the karma that someone else deserves, so play the odds and be nice.