How are you defining this expansion?
While you are at it, please post a chart showing oil demand falling.
While you are at it, please post a chart showing oil demand falling.
SoupNazi2001 said:John Francis Donaghy said:Latigo said:SoupNazi2001 said:
I hate to be the bearer of bad news but we are in the second largest expansion since World War II and oil can't stay above $50. Demand won't get much better than now and will really tank during the next recession. This is primarily an issue of too much supply and less and less oil being used around the world due to major technological changes.
Demand for oil is growing but less is being used? How does that work?
I believe he is referring to the current economic expansion, which is not spurring the increased demand for oil that we used to see during such periods. That's the concerning thing. If demand for oil is this flat during a period of global growth, what's going to happen during the next slowdown?
Bingo. At this point in the second largest economic expansion of all time, demand should be much higher.
SoupNazi2001 said:Latigo said:
How are you defining this expansion?
While you are at it, please post a chart showing oil demand falling.
Never said demand was declining. Said it should be stronger at this point in the expansion. Tech was pretty heavy in the last 2 expansions as well. Unusual to have such a long slump in the oil market during an economic expansion.
SoupNazi2001 said:Latigo said:
How are you defining this expansion?
While you are at it, please post a chart showing oil demand falling.
Never said demand was declining. Said it should be stronger at this point in the expansion. Tech was pretty heavy in the last 2 expansions as well. Unusual to have such a long slump in the oil market during an economic expansion.
May be the longest, but that is largely the result of the small magnitude of the growth.SoupNazi2001 said:The Original AG 76 said:
regarding demand...
The US may be seeing an expansion but as has been said over and over ..it the most anemic expansion on record. Its the " no job growth " expansion. While Apple and Amazon are booming areas like retail are in free fall along with the numerous jobs that are associated going away forever.
Europe is still stagnant. Unemployment is a huge issue as most western EU members have horrific labor policies.
Asia is not exactly booming ( demand wise) the formerly YUGE Red China economy has been exposed as the fraud that all controlled economies are.
In most areas of the world the free market is under massive government assault . We just experienced the worst 8 year expansion of government and its evil tentacles of control since WW2 and are only just beginning to see some relief. AND...
Fuel economies and technologies are making inroads into the need for the black gold. There is an energy revolution in progress and it has made a difference. Government mandates and green luddite idiocy are not responsible but the genius of the market is .
The current expansion has the longest monthly positive payroll growth on record ever.
Well said. Oil is cheap. It's going to stay cheap unless and until something happens. And nothing is on the horizon.The Original AG 76 said:
regarding demand...
The US may be seeing an expansion but as has been said over and over ..it the most anemic expansion on record. Its the " no job growth " expansion. While Apple and Amazon are booming areas like retail are in free fall along with the numerous jobs that are associated going away forever.
Europe is still stagnant. Unemployment is a huge issue as most western EU members have horrific labor policies.
Asia is not exactly booming ( demand wise) the formerly YUGE Red China economy has been exposed as the fraud that all controlled economies are.
In most areas of the world the free market is under massive government assault . We just experienced the worst 8 year expansion of government and its evil tentacles of control since WW2 and are only just beginning to see some relief. AND...
Fuel economies and technologies are making inroads into the need for the black gold. There is an energy revolution in progress and it has made a difference. Government mandates and green luddite idiocy are not responsible but the genius of the market is .
I agree with just about all above except your "no job growth" expansion here in the US. With unemployment at 4.3% and thousands of skilled construction trades and well-paying manufacturing jobs going unfilled for lack of labor, for example, there's no shortage of good jobs in this country. As mentioned earlier, the monthly payroll expansion is the largest and longest in our history. If anything, I suspect there's now more of an issue of people refusing to move to where the work is or believing that working with their hands is beneath them--they'd rather be minimum-wage baristas and whine about "inequality". As for job classes going away, that has happened as long as civilization has existed with new technologies replacing old ones and the outdated jobs linked to them.The Original AG 76 said:
regarding demand...
The US may be seeing an expansion but as has been said over and over ..it the most anemic expansion on record. Its the " no job growth " expansion. While Apple and Amazon are booming areas like retail are in free fall along with the numerous jobs that are associated going away forever.
Europe is still stagnant. Unemployment is a huge issue as most western EU members have horrific labor policies.
Asia is not exactly booming ( demand wise) the formerly YUGE Red China economy has been exposed as the fraud that all controlled economies are.
In most areas of the world the free market is under massive government assault . We just experienced the worst 8 year expansion of government and its evil tentacles of control since WW2 and are only just beginning to see some relief. AND...
Fuel economies and technologies are making inroads into the need for the black gold. There is an energy revolution in progress and it has made a difference. Government mandates and green luddite idiocy are not responsible but the genius of the market is .
Quote:
Well said. Oil is cheap. It's going to stay cheap unless and until something happens. And nothing is on the horizon.
Printing money and piling on the debt! Yay!SoupNazi2001 said:The Original AG 76 said:
Not a single year of 3% growth in the so- called recovery . Pathetic
The recession was not very deep or long either. Down 3.1% for 08-09.
What kind of "expansion" are you referring to? Service sector manufacturing sector? Payrolls maybe increasing but not where it counts. The manufacturing side is still very weak and that is where the huge demand comes from.SoupNazi2001 said:
I hate to be the bearer of bad news but we are in the second largest expansion since World War II and oil can't stay above $50. Demand won't get much better than now and will really tank during the next recession. This is primarily an issue of too much supply and less and less oil being used around the world due to major technological changes.
Fuzzy Dunlop said:MavsAg said:
Starting to hear rumblings of crews being shut down. Rumor is Continental is shutting down 3 in the Bakken and Halliburton will be idling 2 crews in the DJ.
Anyone heard anything similar?
Same here as far as the Bakken. I heard yesterday that Continental is releasing three crews. This after they had added two for the year.
aggielee03 said:Fuzzy Dunlop said:MavsAg said:
Starting to hear rumblings of crews being shut down. Rumor is Continental is shutting down 3 in the Bakken and Halliburton will be idling 2 crews in the DJ.
Anyone heard anything similar?
Same here as far as the Bakken. I heard yesterday that Continental is releasing three crews. This after they had added two for the year.
Anymore rumblings/confirmations to this? Bakken and DJ only ones to be hit so far?
My theory: they know more than you do. They also are looking to flip those minerals to investors in other parts of the country at a rate much higher than they are paying you. They have their money covered. I would NOT sell my minerals.earwigfly said:
Anyone here have any insight on prospects for drilling in the Permian? For the first time ever, my mother has been receiving multiple offers (Pony Oil, Clear Fork Royalty, and others) to buy out her mineral rights in southwest Dawson County. She owns only about 8 net mineral acres. It's been leased out twice since 2012, but hasn't been drilled on.
Do these companies know something that we don't, or is this all just mad speculation? Would much income be expected on such a small slice of the pie even if there were drilling?
nu awlins ag said:
What the hell is "implied demand"? Gas stocks dropped by 894,000 barrels lest week, more than the expected 583,000 barrel drop. Despite this, "implied" demand dropped by 278,000 barrels last week, continuing weak demand. I haven't seen this term reported before.