Houses Will Go Down, Oil Up

[Mancghirl]

Crikey, you should be in the trade. Did do you buy from auction or was it some sort of special deal? Auctions can be fun, can keep safe(er) with low age warrantied examples.

Edit - re Panda, don't know what is happening in the market - seemed loopy for a while with second hand way overpriced, but then new prices have been high, maybe another sign of a shoe or two dropping - too high you won;t get the business.

HA! i think not, the Peugeot was just a stroke of luck after some idiot hit my lovely Fiesta (bought by my Dad, £1300, previously driven on the school run by a neighbour) and wrote it off. Was stranded, so bought a 205 out of the local paper for £450 - drove it home and around for a couple of months, sold it for £800. This was about 5 or 6 years ago.

Bought my Panda straight from the Fiat dealer at end of 2007, traded it to the local Peugeot/Kia joint dealership, after the Fiat dealer pissed me off with a low ball offer for the Panda against a Fiat 500. Also went to the Citroen dealer as was thinking about a C1, but he inflated the on the road price and did the whole 'patronise female customer' schtick, so I walked along the road to the Peugeot dealer, who seemed honest/helpful and willing to deal in cash.

My Dad just drummed a whole heap of sense into me about never parting with a penny more than I had to. He was a generous man to his family and friends. But he was as tight as two coats of paint when it came to material goods. He grew up in extreme poverty in Glasgow and didn't give a monkey's about keeping up with the Joneses. Paid cash for everything, never had a credit card in his life.The only debt he had was a mortgage in the early 70s, which he paid off within 15 years. I thank him for that, as he provided some of the best financial lessons possible.

Edit: Pilchard, I have other vices, so a Fiat Panda it is! Drive 100 miles a day to get to work, so its frugal car or reductions in eating out/fine wines/technology purchases/savings.

Edited August 14, 2010 by Mancghirl

[scottbeard]

Oil will double - Property will halve.

That is just for starters; but please, let's not call it austerity because it isn't.

+1

[Guest Steve Cook]

Both OPEC and the IEA reported a large increase in oil supply in July nearing 87 million bpd, close to where we were in early 2008, so it seems we are still on the plateau. It is also surprising considering that everyone is claiming that the global economy is weakening this summer.

Many OPEC countries have been reporting an increase in reserves of supply year on year on a pretty much one to one ratio with their depletion of those reserves ever since they stopped international inspections of their fields a couple of decades back. Their vested interest in doing so is because they have an internal OPEC agreement whereby the amount they are allowed to sell onto the world market is directly proportional to their stated reseves. They've been lying for years.

Whatever the truth of the OPEC reserves, you can be sure of one thing. They are far, far lower than they are officially stated as being.

Edited August 15, 2010 by Steve Cook

[Pick It Down]

Where is the peak?

I don't see an obvious trend in that graph. Could go either way.

Also oil production doesn't depend on how much oil is in the ground, not yet anyway. The amount produced depends on how much the oil countries want to produce (plus demand, price manipulation, etc)

Yes.

But don't let facts get in the way of their conspiracy theory.

[togger]

The only contra theory to peak oil I have seen suggests that oil is continually produced by underground pixies.

Why they moved from a few feet below ground in Texas to miles under deep sea beds was not fully explained.

[Pick It Down]

The only contra theory to peak oil I have seen suggests that oil is continually produced by underground pixies.

Why they moved from a few feet below ground in Texas to miles under deep sea beds was not fully explained.

Land is not constantly produced, therefore house prices will only ever go up?

[Meat Puppet]

Where is the peak?

I don't see an obvious trend in that graph. Could go either way.

Also oil production doesn't depend on how much oil is in the ground, not yet anyway. The amount produced depends on how much the oil countries want to produce (plus demand, price manipulation, etc)

It would be more obvious with the oil price on the same graph. I'd like your explanation why production didn't increase while the price exploded to over $140/barrel and demand growth from China and others expanded at an impressive rate.

[Pick It Down]

It would be more obvious with the oil price on the same graph. I'd like your explanation why production didn't increase while the price exploded to over $140/barrel and demand growth from China and others expanded at an impressive rate.

Production takes a while to respond. Something about new oil rigs not being able to go up in a day.

[Guest Steve Cook]

Production takes a while to respond. Something about new oil rigs not being able to go up in a day.

You don't half talk some b*llocks PIT.

[Meat Puppet]

You don't half talk some b*llocks PIT.

Exactly. The plateau began in 2004 and whatever happened to all the spare capacity in Saudi? Were they asleep in 2007 and 2008 when the price went parabolic?

[Pick It Down]

You don't half talk some b*llocks PIT.

So you can build an oil rig in a day?

[@contradevian]

The only contra theory to peak oil I have seen suggests that oil is continually produced by underground pixies.

Why they moved from a few feet below ground in Texas to miles under deep sea beds was not fully explained.

[OMG]

The only contra theory to peak oil I have seen suggests that oil is continually produced by underground pixies.

Why they moved from a few feet below ground in Texas to miles under deep sea beds was not fully explained.

So we've reached peak Pixie too?

Luckily I have some stockpiled.

[Protect Rural England]

You don't half talk some b*llocks PIT.

Steve Cook - May I suggest very politely you keep to your conspiritorial theorum. If there were any credibility in what you were saying the developing countries i. China and India et al would not be spending the monies they are on building crude oil refineries and buying up global production, purchasing term contracts and foreign refineries such as Grangemouth. They would be spending their new wealth on developing alternative energy supplies.

It is the West which has now got to get a grip with the new realities. Spain with their solar, France and Germany with nuclear.

UK PLC are the muppets. In 2015 we are closing our coal power stations. What are the alternaticves to brown outs? Nothing yet.

We need to go nuclear. Every household should be looking at any alternative they can to produce electricity.

Silly little comments about testes does you no credit. It is a very serious subject. Houses will go down in price, oil will likely go up. Gas will go up. Electreicty will go up. Tax on all will go up. Certainly for the likes of all on this blog the cost of energy will triple in the next 10-15 years. Running houses will only get more expensive relative to our incomes.

And, before you say there is nothing we can do, there most certainly is. Lobby your local public service sector "officers" on planning enforcement and policy and get them to change so those who want to take the initiative to do something positive can.

[Mega]

http://www.bbc.co.uk/news/uk-10977640

All look, Coal is Sexy!

Mike

[Pick It Down]

The peak oilsters would have more credibility if they didn't just dish out ad homs and then scurry back under their bridges.

[Crashman Begins]

http://www.housepricecrash.co.uk/forum/index.php?showtopic=77546&hl=arab&st=0

A Cowboy And Arab Talk Frankly

CGNAO

Posted 22 May 2008 - 12:23 AM

George Bush: "A lot of folks in America are upset over, you know, the high oil prices."

King Abdullah: "Need I remind you your dollar is worthless? Have you brought me any more collateral?"

GB: "Paulson said to tell you that IMF gold should have held you over for a while."

KA: "400 tons? You already owed us that from previous years."

GB: "We're having some, uh, difficulty obtaining more"

KA: "Is your Fort Knox not full?"

GB: "I'm told it's... encumberated, or something like that."

KA: "What about your Catholic boy? Did you not invite him to Washington last month?"

GB: " Uh, yeah, his Holiness, sir, but he wasn't very, uh, cooperatative."

KA: "Did you remind him another church scandal wasn't in his best interest?"

GB: " Yes I did, but he said the Vatican's gold was what saved their financial bacon in the first place".

KA: "You are in a predicament. What other collateral can you offer?"

GB: "My generals say there's new weapons in the pipeline- you know, really scary stuff. You can have first dibs".

KA: "We're already up to our eyeballs in weapons, and half of them don't work anyway".

GB: "Benny-Ben over at the Fed said there's some good deals on some banks he's getting ready to repo".

KA: "That Citi deal didn't exactly work out you know. How do you Americans say- it was "a pig in a poke"?"

GB: "I'm still working on a port leasing deal. It's politically, uh, still sensitive".

KA: "Your endless wars against my people's nations are becoming tiresome, besides unprofitable. Who can say how much longer we can support your dollars?"

GB: "(big gulp) I don't think Cheney's gonna like this. He made me come here anyway, I thought it looked, uh, too humblifying."

KA: "Stay in touch. Maybe you'll find some gold in Jerusalem next week".

GB: " I'm glad we had this frank exchange of, er, views. One decider to another".

Edited August 15, 2010 by Crashman Begins

[corevalue]

It certainly is and there are some good deposits still readily available in the UK.

Not to mention on the bigger picture, coal to gas and coal to liquids production will start to increase massively.

Which part of this trend line you think will be reversed?

I agree coal will be important going forward, it's the only known fossil fuel left in real quantity. Just not on these shores.

[Mega]

Full Steam ahed!

http://www.guardian.co.uk/environment/2010/aug/15/coal-fired-power-stations-coalition

Gosh, What a SHOCK!

Mike

[Guest Steve Cook]

Steve Cook - May I suggest very politely you keep to your conspiritorial theorum. If there were any credibility in what you were saying the developing countries i. China and India et al would not be spending the monies they are on building crude oil refineries and buying up global production, purchasing term contracts and foreign refineries such as Grangemouth. They would be spending their new wealth on developing alternative energy supplies.

It is the West which has now got to get a grip with the new realities. Spain with their solar, France and Germany with nuclear.

UK PLC are the muppets. In 2015 we are closing our coal power stations. What are the alternaticves to brown outs? Nothing yet.

We need to go nuclear. Every household should be looking at any alternative they can to produce electricity.

Silly little comments about testes does you no credit. It is a very serious subject. Houses will go down in price, oil will likely go up. Gas will go up. Electreicty will go up. Tax on all will go up. Certainly for the likes of all on this blog the cost of energy will triple in the next 10-15 years. Running houses will only get more expensive relative to our incomes.

And, before you say there is nothing we can do, there most certainly is. Lobby your local public service sector "officers" on planning enforcement and policy and get them to change so those who want to take the initiative to do something positive can.

You've obviously not read my posts on this forum to any significant degree. If you had, you would be less quick to adopt the supercillious, pompous tone you have.

As for the alternatives to hydrocarbons, do you actually know what the numbers involved needed to replace hydrocarbons actually are?

As for my needing to keep to my "conspiratorial theorum", what on earth are you on about?

Edited August 16, 2010 by Steve Cook

[Mega]

It was "Dirty" when the 3RD World tried to get loans to build them to pull themselves out of the mire.......

Mike

[azogar]

You've obviously not read my posts on this forum to any significant degree. If you had, you would be less quick to adopt the supercillious, pompous tone you have.

As for the alternatives to hydrocarbons, do you actually know what the numbers involved needed to replace hydrocarbons actually are?

As for my needing to keep to my "conspiratorial theorum", what on earth are you on about?

very informative interview here:

Power Hungry: The Myths of "Green" Energy and the Real Fuels of the Future

[Mega]

Base load will go from Gas to Coal, while we await new Atomic plants.

Mike

[Wait & See]

Speaking of oil prices up, can I point you all in the direction of a company called Gulf Keystone Petroleum as a possible investment. DYOR!!

[_w_]

Speaking of oil prices up, can I point you all in the direction of a company called Gulf Keystone Petroleum as a possible investment. DYOR!!

They've gone up ten times in the last 12 months. Could you clarify why in your mind this would be a good bet/inVestment at this price?