There is no agreement to let Iran have nukes in ten years or any time nukes period. non matter how many times the right wing talking heads repeat the lie, it is still a lie.
Only the Saudi's and the people they deal with really know what is going on over there. They pay their people money to keep them quite, that may have reigned them in for know, but I doubt it changed any of their minds. I have heard that it is the Saudis past backing of teaching of Wahhabi, a strict form of the Koran interpretation that has caused most of the trouble in the Mid East. The Saudis been attempting to pull that back, much easier said than done. Point is things can get a lot whole lot worse, and may take a long time before things settle down.
I didn't mention Europe because their past ones didn't help the consumer, it was more top down failed policies. We are in a consumer oriented economy if they the consumer doesn't get more money to purchase things, stimulus won't work. It just garners more trading between billionaire hedge funds.
Common stock holders are bag holder, by the time preferred and bond holders are settled, there will me nothing left for the common share holders even if/when ANV comes out of chapter 11, unfortunate but that is how it works.
not saying this is a fix all, but China has decided to further stimulate their economy. Now if the West would follows suit, then we would have a bull oil market. Not going to happen though.
Storage capacity will have the biggest effect on oil prices in the near future, of course a weakening USD is significant also, but a weakening USD does not stop oil from flowing.
"Virgin is the latest company to announce a foray into electric cars, joining Tesla and Chevrolet. And Tesla is preparing to showcase a battery that can power an entire home with stored wind and solar power, effectively reducing one's power bills and taking homes entirely off the grid.
Lockheed Martin, best known as a defense and aerospace giant, has made some explosive claims about the potential for its "compact fusion" reactors. The company says that reactors, small enough to fit on the back of the truck, can harness the power of the sun and usher in a disruptive innovation that will make fission reactors, and other more conventional forms of energy, entirely obsolete. "
FM the same article "Boone Pickens, a lifelong oil man, recently reiterated his prediction that oil prices will be higher by the end of the year — he expects to see it hit $70 a barrel. "
Note that Lockheed Martin is no pink sheet full of exaggerations stock.
Sorry but gw BuSh has that title. You forget so soon that he gave us two unnecessary, unpaid for wars, Dubya claimed when running for office that he wasn't a nation builder, he should have said he wasn't any good at it, and he also gave us the biggest recession since reagan's. Obuma as you put it dug us out of the R. recession, all recorded stats point to that fact. And if the just say no R. congress had allowed P. Obama's jobs and infrastructure bills to pass we would be in a far better place than we are today.
Wonder material could harvest energy from thin air
"According to a study published in the journal Nature, graphene membranes could be used to sieve hydrogen gas from the atmosphere -- a development that could pave the way for electric generators powered by air.
"It looks extremely simple and equally promising," said Dr Sheng Hu, a post-doctoral researcher in the project. "Because graphene can be produced these days in square metre sheets, we hope that it will find its way to commercial fuel cells sooner rather than later."
And then there is nano tech companies that are attempting to create Hydrogen by mimicking nature's photo synthesis. Some of this stuff is still down the road a ways, but so was the jet engine at one time.
Solar and Wind Energy Start to Win on Price vs. Conventional Fuels
By DIANE CARDWELLNOV. 23, 2014
"For the solar and wind industries in the United States, it has been a long-held dream: to produce energy at a cost equal to conventional sources like coal and natural gas.
That day appears to be dawning.
The cost of providing electricity from wind and solar power plants has plummeted over the last five years, so much so that in some markets renewable generation is now cheaper than coal or natural gas.
Utility executives say the trend has accelerated this year, with several companies signing contracts, known as power purchase agreements, for solar or wind at prices below that of natural gas, especially in the Great Plains and Southwest, where wind and sunlight are abundant.
Those prices were made possible by generous subsidies that could soon diminish or expire, but recent analyses show that even without those subsidies, alternative energies can often compete with traditional sources."
Facts are the US has become the second largest oil and Ng producer in the world with the EPA. Solar is becoming a threat to Ng and coal because it has become cost competitive. Utilities across the US are trying to slow and stop solar because it has become a threat to them, Oklahoma begin charging extra fees for solar, utilities in some states buy solar at wholesale from solar homes and sell their energy back to them at retail.. Plenty of articles on the Internet that verifies all of this. With lithium batteries on the verge becoming much cheaper homes that produce their own energy can become totally independent of the grid. And then you have fuel cells that have finally become economically feasible, they also have the potential to revolutionize how we get our electricity. And research into grahpene may bring another energy revolution, point is it took along time to get here, and this is just a point along the way there is more to come.
What is your time line, if it is in the next 2-4 years or so, I'd say coal demand goes down, Ng prices in the US goes up because we will start exporting it soon, and Ng increasingly and for more than one reason it is preferable for electricity production, and oil claws its way back up to 90.
I can't find the article dated from yesterday, found several other of his predictions of course, and I'm not bothering with it anymore, but now he and I are closer to what we think oil prices will be at the end of this year, around 70.
Of course I can't say articles I read on the subject are any better than articles other people read. Just today I have read the Iranians have a lot of their oil in storage like we are seeing here in the US, storage is full as well as some of their tankers being used for storage. In the article released today they said if the Iranian embargo was lifted they would be able to add another million barrels a day to the world output, if so and if the 2 to 3 million barrel a day of oversupply we have now is correct, that puts us at 3 to 4 million barrels of oversupply..
And again from my perspective consumption is the real problem, not production, the world's economy is weak. The number one consumer of oil is still the US, its consumer base is tapped out, the new jobs don't pay well, add to that the younger generation is smothered in debt from advanced education loans and insanely high interest rates on those loans and credit cards. And now there is talk of interest rate hikes, none of this is good for consumption side of the ledger.
What happens when there are no more little fish?
Bloomberg TV asked the question could 20 dollar barrel of oil be to far off?
My answer if austerity continues, and the consumer doesn't get a pay raise, Yes.