$90/ Barrel Oil Just ahead?
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Topic: $90/ Barrel Oil Just ahead?
Posted By: Superglide Ken
Subject: $90/ Barrel Oil Just ahead?
Date Posted: 14/October/2004 at 8:18pm
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I have been seeing this on my price charts for over a month now, and none of the fundamentals shaping up in the market are saying any different. $90 oil translates in $3/gallon gas in the US and $1.25/litre here in Canada.I expect that we will see this next month IMO.
Might be time to dust off the portables and buy the pad machines before much longer! lol
------------- Inventor of the Teflon Wand Glide and the Turboteck Rotary Air Duct Cleaners for TMs. |
Replies:
Posted By: Steaminpile
Date Posted: 14/October/2004 at 9:24pm
| I would just raise my prices and be thankful I bought a slide in. |
Posted By: Superglide Ken
Date Posted: 14/October/2004 at 9:41pm
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Well, even if it happens, it is not sustainable beyond the short term. A price that high would shut down alot of demand in the market and bring on the Oil sands development and shale deposits in a very major way.If it does spike up , it will be coming back down by February at the latest when Winter starts winding down. The huricane season has made it almost certain that there will be fuel shortages this winter in the US market. The oil in the salt domes is being tapped right now. Longer term, the demand from China means that from this point forward, the world has changed, and the days of cheap oil are now done. ------------- Inventor of the Teflon Wand Glide and the Turboteck Rotary Air Duct Cleaners for TMs. |
Posted By: Steaminpile
Date Posted: 14/October/2004 at 11:55pm
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Canada should REALLY start tapping some of their reserves for "future generations" I don't think there will be the oil and gas we use now in the future. |
Posted By: Superglide Ken
Date Posted: 15/October/2004 at 1:26am
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Hopefully we will be into a "Hydrogen" economy by then. Still is at least 20 years away though. ------------- Inventor of the Teflon Wand Glide and the Turboteck Rotary Air Duct Cleaners for TMs. |
Posted By: Ed Valentine
Date Posted: 15/October/2004 at 9:53am
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Ken; I honestly do not think that oil will go to $90.00 (US)---next mth, or next year--- because if it did, it would literally shut down the world economy and would cause mayhem and a greater depression then the Great Depression ever was.
No, I would think that the US (can't speak for Canada) would ever allow that to happen. And, Saudia Arabia, and a few other oil producer Royal Families would jeopardise their firm hold and positions in their own countries. World War III would be knocking at our front doors, my friends.
Good Fortune (???); Ed Valentine cross-american.com |
Posted By: Superglide Ken
Date Posted: 15/October/2004 at 10:51am
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Well Ed, I will just say that many insiders did not forsee $50 oil this year either.Only thing for sure that you can expect is the unexpected. $90 oil in real inflation adjusted terms would take the price only slightly higher than it was in 1981 when it topped out at $80/barrel as measured in 2004 dollars. Do not remember the world coming to an end then either. Biggest risk today if the $90 scenario happens is the 3rd world countries having a massive debt default all around the same time. If that happens, some bankers are going to loss some money, but the world will still go on.
Russia is the only country that has the capacity to threaten the USA in military terms at this point in time, and with oil near $90, they would be making so much money from the oil they export, that there is no chance of that happening in the near future. For that reason, I do not share your concern about the world being in any danger. It would cause the US to speed up the transition to the hydrogen economy however, and no doubt encourage energy conservation in a very serious way that up to now has been avoided, so in the long term, it could be viewed as positive. ------------- Inventor of the Teflon Wand Glide and the Turboteck Rotary Air Duct Cleaners for TMs. |
Posted By: Superglide Ken
Date Posted: 17/October/2004 at 3:30am
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Oh, just one last thing I forgot to mention. Some of the economists working for the White House have said that oil may end up going as high as $148/barrel as soon as next year! I personally don't believe that will happen because demand would be choked off long before it got that high, but who knows for sure? It can't be ruled out even if unlikely.A rebellion in Saudi Arabia that turned it into an islamic state could certainly put the price that high, and that event is closer than most people know. I certainly would not want to be short oil in the months ahead. The long positions I took out last month are certainly looking good these days. ------------- Inventor of the Teflon Wand Glide and the Turboteck Rotary Air Duct Cleaners for TMs. |
Posted By: Shortwun
Date Posted: 17/October/2004 at 6:14am
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This from the Aussie forum::
Shorty ------------- The short, round, mound of sound, from up top, down under, with a comment on anything and everything. |
Superglide Ken wrote:
8/10/04 : 20:31:44 http://www.australianforums.biz/ccforum/philboard_reply.asp?id=1236&topic=1236&recordnum=0">
http://www.australianforums.biz/ccforum/messagecompose.asp?senduser=royalblue&topic=1236&recordnum=0">
8/10/04 : 20:46:53 http://www.australianforums.biz/ccforum/philboard_reply.asp?id=9814&topic=1236&recordnum=0">
Posted By: MR. STEAMER
Date Posted: 17/October/2004 at 8:51am
| Naw the price will drop back under 50 buck.... The oil producing nations are afraid that alternatives will take a foot hold in the market. hybrid and bio are already starting to make moves |
Posted By: Superglide Ken
Date Posted: 17/October/2004 at 5:13pm
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That wont help them this time, Mr Steamer. The OPEC nations can't produce enough oil output to meet the new demand that is coming out of China. China don't care either. They just build the higher cost into the product prices they charge. It still beats the prices that American manufacturers can produce. In 4 short years, the production of goods out of China will exceed the goods output of the United States, putting them into 1st place as manufacturer to the world. In just 5 years, the number of cars produced there will exceed the number made in detroit. This is the new reality that North America is faced with.It is not something that will be reversing anytime soon.
By a year from now, the output of oil will begin declining all around the world , and growing demand will run right into shrinking supply. Then $100+ oil is coming. Too bad the debt load in Canada and the USA will not allow the west to win the bidding war for it.
The war with Iraq you see was never really about any WMD, it always was about oil. I posted an article about that on ICS 2 years ago. The Bush government has known that this supply demand crunch was coming since at least 4 years ago, and wanted access to the Iraqi oil supplies to deny China access to the world's 2nd greatest reserves by getting there first, which they did by making up the WMD story so they could invade and take Saddam out. It is the reason that Korea, a true threat with WMD was ignored, but Iraq, with the oil , was not.I never disagreed with that objective BTW, since North America needs access to that oil, and I would rather we got it than the Chinese.
America has set up 37 permanent bases in the region as a result. What was not counted on was that the Iraqi's , with the help of the other fighters from surrounding Islamic states , would fight back and keep production restrained to only 2 M barrels per day or less because of the instability still happening there. It was planned to have the production up to 4 to 6 Million Barrels by now.Life's a bitch sometimes, and dosn't go as people plan. That is why it is crunch time now. Prepare to dig a little deeper for your fuel from this time forward, cause this is a permanent change to higher fuel prices that is happening, and will accellerate as the Chinese increase their car purchases in the years ahead at a very rapid rate. ------------- Inventor of the Teflon Wand Glide and the Turboteck Rotary Air Duct Cleaners for TMs. |
Posted By: Superglide Ken
Date Posted: 23/October/2004 at 12:48pm
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Well, the price is still going up. The big jump is still a week or two away. Expect that to happen around the first week of November when the first of the large arctic fronts heads down into the northestern US where most of the heating oil is used. That's where the shortages are going to be felt first. No relief on the natural gas front either. The price just leaped over $9/thousand cubic ft yesterday. My charts tell me that we are heading to $15 gas by December there too. ------------- Inventor of the Teflon Wand Glide and the Turboteck Rotary Air Duct Cleaners for TMs. |
Posted By: Dennis Conner
Date Posted: 11/November/2004 at 9:35am
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Bump!
Missed that big jump last week!
Oil is DOWN since this Kenny post...only has to double in price in the next 20 days for Kenny to be correct. Now I know where the millions he made selling his companys went, why he stayed at the Kampground in Vegas, and why his chickens are hungry!
Natural gas at $7.678....kenny wrong AGAIN!
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Posted By: Superglide Ken
Date Posted: 11/November/2004 at 12:39pm
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I'm not wrong, just off on the timing by a bit. The price has not topped yet. Just waiting for the first of the big arctic fronts to move down from Canada. Once that happens, oil will move up very quickly. I remember how some thought I was wrong on Gold too. It is now at a 16 year high, and getting ready to make a run up to $1000/oz. Those that want to double or triple their money don't have long to get in for the ride up. Once it clears $450/oz, that rise will be a rapid one. I expect that to happen in a week or two. ------------- Inventor of the Teflon Wand Glide and the Turboteck Rotary Air Duct Cleaners for TMs. |
Posted By: Ed Valentine
Date Posted: 15/November/2004 at 8:49am
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Well, it's exactly ONE MONTH since Kens prediction that oil would be $90.00 a barrel.
Well under $49.00 as of Nov. 15.
This may be a good example of how trying to be an Expert in Predictions can bit one in the behind.
Good Fortune to all; Ed Valentine |
Posted By: Dennis Conner
Date Posted: 15/November/2004 at 11:26am
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Kenny talks alot about his charts, but they seem to take him backward....glad I have my own charts (and GPS) on my boat!!!
I bet he doesn't have a dime in the market, and if he does it's only worth a couple cents now!
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Posted By: Dennis Conner
Date Posted: 15/November/2004 at 11:28am
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Can you see ken in the Carnack costume Johnny Carson used to wear???
I can just see that..holding the magic glide to his head and making predictions.
LMFAO!!!!!!!
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Posted By: Superglide Ken
Date Posted: 15/November/2004 at 6:02pm
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I predict that this post will look very foolish in a few weeks time. lol ------------- Inventor of the Teflon Wand Glide and the Turboteck Rotary Air Duct Cleaners for TMs. |
Posted By: Dennis Conner
Date Posted: 25/November/2004 at 6:46pm
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BUMP!
What is the price now?
WHO looks foolish....AGAIN/STILL!
KEN! |
Posted By: Dennis Conner
Date Posted: 28/November/2004 at 3:42am
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How are those contracts in your mind....
R U glad you didn't have the $$$ to actually buy them???
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Posted By: Superglide Ken
Date Posted: 02/December/2004 at 9:36pm
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My gold options are looking real good as of today, Chuck. Mild weather just means it will take a little while longer than i thought for the oil option to pay, but it will happen before much longer. Winter weather does not always arrive in November up here, but it always does in December. Matter of fact, the first of the "Alberta Clippers" is heading for the US northeast(where most of the oil is burned) starting this Sunday. That low oil price of $43 you saw today will be a distant memory after that. ------------- Inventor of the Teflon Wand Glide and the Turboteck Rotary Air Duct Cleaners for TMs. |
Posted By: Dennis Conner
Date Posted: 27/December/2004 at 9:23pm
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BUMP!!!! Monday, December 27, 2004: NYMEX West Texas Intermediate for February delivery closed down $2.86 at $41.32 per barrel.
HAHAHAHAHAHAHAHAHA!!!!! |
Posted By: Harry
Date Posted: 27/December/2004 at 9:50pm
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Get real Chuck, the winter has not arrived yet and it didn't snow in Houston, Louisiana and we didn't get any snow fall anywhere in the east either, so my Mongolian and Yemeni oil experts tell me. I will tell you right now that there will be a few more earthquakes west of Sumatra in the next day or two according to my charts.
------------- Be Juan in a Million - be a Leatherwright. |
Posted By: Nordic 1
Date Posted: 27/December/2004 at 10:55pm
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NORTH SEA BRENT$ 40.53
What would I know about OIL anyway Nordic 1 |
Posted By: Superglide Ken
Date Posted: 29/December/2004 at 3:01pm
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Warm Winter weather. It is going to $90 when the real arctic cold gets here. Be patient. Should be here soon. ------------- Inventor of the Teflon Wand Glide and the Turboteck Rotary Air Duct Cleaners for TMs. |
Posted By: PadMan
Date Posted: 29/December/2004 at 10:03pm
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Fluff and b s ------------- Converting HWE customer to VLM customers for 30 Years! |
Posted By: Superglide Ken
Date Posted: 29/December/2004 at 10:29pm
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Not at all John. The reason that it is going to happen sooner than most realize has to do with what is going on with China. As you know, you can't trust them. They have made a secret deal with the Saudis to get them to supply the Chinese with the oil that their expanding economy needs. This is going to leave the USA short of supply. They made a deal to force the price of oil up over $100/barrel. The USA knows about this deal, and tried to secure their own supply of oil by going into Iraq. They knew that their was no WMD there all along. Only the mild winter has stopped the $90 scenario from happening thus far. But it will happen by next year cause there is alot more happening behind the scenes that I know will make it a question of when, not if. Pad machine sales and use is going to go way up under this $100/barrel scenario, eh? ------------- Inventor of the Teflon Wand Glide and the Turboteck Rotary Air Duct Cleaners for TMs. |
Posted By: PadMan
Date Posted: 30/December/2004 at 7:14am
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The fluff and the bs Ken is YOUR KNOWING WHAT YOU ARE TALKING ABOUT, sorry bud, but we have history with you and your claims, your record isn't any better than a kid who talks about things they don't know about, in fact it may be worse than that. ------------- Converting HWE customer to VLM customers for 30 Years! |
Posted By: Harry
Date Posted: 30/December/2004 at 10:49am
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It's no wonder Ken is always broke, yes I do believe his sources must be right on the money and seldom wrong.
------------- Be Juan in a Million - be a Leatherwright. |
Posted By: Superglide Ken
Date Posted: 30/December/2004 at 12:35pm
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If they were not right on the money, I would cancell my subscriptions to the newsletters. Fortunatly I don't see that as necessary. ------------- Inventor of the Teflon Wand Glide and the Turboteck Rotary Air Duct Cleaners for TMs. |