Wednesday, Mar 12, 2008
Still in peak oil denial
CNN: Oil crosses record $110, despite supply rise
If we are just entering the fear stage on houses, we have not even got close to it with peak oil. But prices have breached $110, as I predicted this summer. They will rise towards 150, 200 +, remember that, at $80 a barrel, it is about 22cents a cup, NOTHING sells for that cheap, not even water. The truth that most do not want to know is that oil at $110 is ridiculously cheap. We will see that peak oil will become common knowledge this year, probably when prices spike above $125, which could occur before next month, as banks hoard liquidity injections within assets such as oil. What will this mean for house prices? Our economy? Well, interest rates below 10% may well become a distant memory in a very short time as oil feeds through over the space of a couple of years into CPI and RPI.
13 Comments
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1. planning4acrash said...
For S2Rent, if there is a Mayan event this month, it will be awareness that peak oil is upon us. It will be awareness that the agenda of the power elite is based on unsustainable footings. We will begin to question everything about the economy. More to the point however, those in power will have lost their ability to control the economy through regulation of energy. Their power base will crumble and people will begin to opt out of the fiat economy and beyond the control of the banking elite. The whole corruption of democracy will be unveiled as people realise that politicians support bankers and the energy industry above their electorate.
2. uncle tom said...
I have this gut feeling that the world is saying goodbye to the dollar as the world's reserve currency, and is transferring it's allegiances to the core commodities.
- But what do I know?
All I know is that I came back from a ten week winter break yesterday and immediately got an urgent request from my stockbroker (a partner at Brewin's) - wanting to buy me dinner to get my take on the current situation.. Hmm..!
3. harold said...
"...and is transferring it's allegiances to the core commodities."
Absolutely. Question is, how long before gold (and silver) catch up with crude?
4. Duncan said...
How much has oil increased per barrel in Euros ?
I wonder how much longer people will actually accept payments in Dollars
:- Duncan
5. alan said...
Uncle Tom, while you were away, oil rose...
"After oil prices settled above $100 a barrel for the first time on Feb. 26, they have set record intraday highs in 11 of the last 12 trading sessions, including today's record high".
There seems to be a mad scramble for anything which is likely to retain value.
Hope you had a good break....!
6. Titaniccaptain said...
Hmmm im thinking of investing in gold the more I read but I dont like taking risks but then again how safe is my money in the bank? realy need some advice on this
7. sold 2 rent 1 said...
P4AC,
My charts suggests oil is in a blow-off phase and won't go over 120. After that it should correct down to 80-90. The gold-oil ratio is approaching 8 and historically has used the 8 support level to springboard to 15 or even 20. Gold charts are also saying a sharp move up to complete Elliott wave 5 since August to 1300-1500.
Oil of 150 and 200 would shock people but I can't see those prices being reached this year. As for IRs over 10pc - not a chance as a depression would be created instantly by the debt collapse.
As for the Mayan event being about oil. Extremely unlikely. Type "peak oil" into youtube and you get a lot of videos about the meaning of peak oil but nothing really about actual evidence about governments and oil companies colluding together to make prices high. High oil prices are seen as a natural supply and demand issue with no collusion. This may later be proven otherwise but not now.
Type 9/11 into youtube and there are hundreds of videos with hard physical evidence about how it was an inside job. This story is so close to a tipping point now. But unlike ordinary items that tip into mainstream, this one can't because of the media corruption. Hence the forthcoming information war.
Full marks to Cornishman. The Manchester chief policeman suicide is proving to be a lot more mysterious than we were first told.
Cornishman's intuition shows he is on the way to the next level of consciousness.
8. sold 2 rent 1 said...
9/11 Truth vs Mainstream Media
http://youtube.com/watch?v=LNsSn6D3CP4
9. planning4acrash said...
Oil is clear collusion. Govt's subsidise em, pay 4 infrastructure, oil cartels control supply and demand, i.e. Price, oil companies are the biggest & payroll politicians, oil is crucial2food &global trade.peak ends all this so is an epoch event.
10. Fed Up said...
On the 'peak oil' issue, I'd recommend reading Greg Palast's book 'Armed Madhouse'.
http://www.gregpalast.com/madhouse/index.php/about/
Chapter 2, 'The Flow'.
11. sold 2 rent 1 said...
planning4acrash,
Whilst you are right about the corruption in the oil industry and its link to governments, these issues are not being discussed on US TV chat shows like the "9/11 was an inside job" celebs. See video above. IMHO the oil corruption may come out in an "information war" but it has not reached critical mass where it can be the dominant corruption focus. Charlie Sheen didn't bring up oil corruption, he brought up 9/11 unanswered questions
Time will tell.
12. Bertie Bunfest said...
Are you into Astrology charts as well?
13. Endisnigh said...
In astrological terms: The planet Uranus has been passing through the constellation of Pisces since 2003. It will continue to do so until 2012. This period is typically characterised by a period of 'let the good times roll' followed by a substantial correction at the end. The last time it occurred was in the 1920s and we know what happened at the end of that decade....