I agree that oil is used in so many things that it will always be in demand, but since the biggest part of crude oil is used as transportation fuels. More fuel efficient vehicles, batteries, mass transportation systems and perhaps hydrogen will reduce the amount of fuel needed, and that will have an effect on the price of oil, but that's mostly in the future. .. At present the problem with crude's low price is demand, it isn't growing as fast as production, and the cause of that is the slowing world's economy.
"fool cellls." Who wants to go up against E. Musk? I'll venture where wise men fear to tread.
He thinks hydrogen as a fuel is the problem with fuel cells, or at least one of the major problems fueling infrastructure as another,, basically he thinks when you convert Ng to hydrogen for an a fuel you lose, why not skip the cost of producing H2 from Ng and just burn it in engines? And electrolysis uses more energy to extract H2 from water than is gained. I will say at this point he has the winning hand, at least IMO. But, there are a few companies out there that think they may be able to make H2 in an abundant and cost effective way. After all had it not been for extreme gains in Li Ion battery tech, Musk's autos would not be on the roads, so who is to say H2 won't follow a similar path? And then we have the highly creditable Toyota company who sees things quite differently than Musk. Interesting times...
Supposedly went away in your mind only.
Nothing is going to change about foreign companies political influence on our government, you can thank the right leaning Supreme Court, for making things worse with their money is speech ruling. Thanks to them US citizens don't even have the right to know where the unlimited money that influences the policies of this country is coming from.
And if the Pacific Trade Agreement passes the average person will not have any say over anything that really matters, all that will be decided by the trade agreement that multinational corporations drew up..
Fm Motiva Enterprises Home Page.
"Headquartered in Houston, Texas, Motiva Enterprises is a leading refiner, distributor and marketer of fuels in the Eastern, Southern, and Gulf Coast regions of the United States. As a joint venture, Motiva is owned equally by subsidiaries of Saudi Aramco and Shell Oil Company."
The reason the US is still importing Saudi oil is, "The giant Motiva oil refinery, which just completed a $10 billion expansion that makes it the largest processor of gasoline, diesel and other petroleum products in the United States, is owned by Saudi Aramco and Royal Dutch Shell in a 50-50 partnership.
Saudi Aramco’s investment in the refinery expansion is meant to ensure that Saudi Arabia will retain an important market for its crude in the United States at a time when American politicians are declaring their intention to wean the country off imported oil."
Texas Refinery Is Saudi Foothold in U.S. Market
If yuo thimn
an interesting article out today, they don't believe in electric cars because it takes to long to charge a battery, not sure about that, but that was in the article. They think Fuel Cells will win out over fuels and batteries. If HYSR tech works on a commercial level.
China imports plummet on weak commodities prices
"Beijing (AFP) - Chinese imports plunged by more than a fifth last month, official figures showed Tuesday, as slowing growth in the world's second-largest economy wreaks havoc on global commodities prices and the country's own customers.
The Asian giant is the world's leading trader in goods but flagging expansion has seen the resources it uses -- such as iron ore and crude oil -- fall sharply in value, hitting producer countries, for example Australia.
September imports sank 20.4 percent to $145.2 billion in dollar terms, the customs department said -- worse than forecast in a survey of economists by Bloomberg News."
CDO's, derivatives and manipulation of commodity prices makes an economy not.
When I replied to the post there was only one idiot, now I see this board is infested with them like all other Yahoo boards. If the chart I referred to was looked at no one could deny that gold and oil go in tandem. And if they can deny absolutes, their opinion is worthless.
Investors should be looking at the state of the world's economy, how the oil sector is doing as a whole, before looking at individual companies.
"This is going to be uncomfortable.
China released its export data for September on Tuesday, and there's something funky in the data that suggests the country's slowdown may not be the only reason for a 1.1% decline from the same time last year.
A lack of demand from the rest of the world may also be a big factor.
It shows that the problem isn't just China, and that the rest of the world is also in trouble."
England has slipped back into deflation.
All predicted in the books, "The Race to the Bottom, and the Great Unraveling. Top down economics so called regaonomics doesn't work, never has, if the consumer hasn't money to spent, goods and services won't be sold.
Double edged sword the reason oil prices are low, production is higher than demand creating a surplus, and at present there are far more workers than needed so there is no wage inflation either, nor will there be for several years. Commodities are not the place to be for now. The only thing gold may have going for it is if the world shifts from the USD as the reserve currency, and I don't think that will happen over night, that too will probably take years to happen, no reason to be long gold for now.
Who was the idiot that gave me a thumbs down? I'll bet the ill informed butt clown didn't look a the historical chart, because the correlation is there it can't be denied.. Must have been a R. they seldom visit reality, preferring the delusional world of their creation.
If you compare historical gold and oil charts gold follows the price of oil, as oil goes up gold goes up as oil goes down gold goes down. It wasn't a coincidence when gas hit its high of over four dollars, gold also hit its high of over eighteen hundred dollars.
Yeah he stopped the world wide gw Busht R. regimes financial melt down. Grasshopper, it is much easier to break an egg than it is to put it back together.