The price of oil........high and not falling.
Discussion
So the black stuff has steadily crept back up into the high 70's......currently WTI is at $77 ish. A long way down from the peak near $140 but still high enough to lodge us firmly over £1 a gallon, and a long way up from the recent ( brief ) trough in the mid $30's.
I don't think it'll ever fall back below $30 myself, it might drift down to $60, but I think high prices are here to stay. One interesting quote was the CEO of BP stating that we will never use as much oil in the West again as we used in 2007......but what is driving up/supporting prices is SE Asia.
It's hard to think of a more direct, obvious barometer of the shift of global economic power towards Asia. I think it matters alot because oil is everywhere in the cost base of our civilisation, from transport to fertisliser to textiles to heating.
You'll need a mortgage for a good blatt at this rate!
I don't think it'll ever fall back below $30 myself, it might drift down to $60, but I think high prices are here to stay. One interesting quote was the CEO of BP stating that we will never use as much oil in the West again as we used in 2007......but what is driving up/supporting prices is SE Asia.
It's hard to think of a more direct, obvious barometer of the shift of global economic power towards Asia. I think it matters alot because oil is everywhere in the cost base of our civilisation, from transport to fertisliser to textiles to heating.
You'll need a mortgage for a good blatt at this rate!
anonymous said:
[redacted]
Stockpiles are huge. And demand stats are awful. But.... there is a vast reserve of $ in Asia looking for a home, and as time goes on it's looking more and more like $70 oil will be the new norm, I'm not saying $150, $200 of any of those figures being ramped last year or the year before. But a new higher equilibrium price that is going to dent our 'wealth' in the West considerably.
sorry typo/ brain abberration. Timmy35 said:
It's hard to think of a more direct, obvious barometer of the shift of global economic power towards Asia. I think it matters alot because oil is everywhere in the cost base of our civilisation, from transport to fertisliser to textiles to heating.
Oil is still being priced in dollars, the power will have shifted when it's priced in something else.Timmy, do you give any weight to Branson and his recent 5 year oil crunch proclamations(Google for "5 year Branson oil crunch" to get lots of articles if you've not seen them) ?
Is he just media ho-ing and trying to shift the political landscape in a way that would make him more profit
?
Is he just media ho-ing and trying to shift the political landscape in a way that would make him more profit
?RichardD said:
Timmy, do you give any weight to Branson and his recent 5 year oil crunch proclamations(Google for "5 year Branson oil crunch" to get lots of articles if you've not seen them) ?
Is he just media ho-ing and trying to shift the political landscape in a way that would make him more profit ?
It being Beardie he'll be upto something, probably wants to lauch a green energy business and have the Government fund it. There's alot going on in waste to energy at present. Is he just media ho-ing and trying to shift the political landscape in a way that would make him more profit
?Basically you subject rubbish ( domestic ) to pyrolysis and either burn the syngas to make power, or catalyse it to get a liquid fuel.
London churns out about 12m tons of rubbish a year alone. The Danes power 400,000 houses or rubbish.
Fittster said:
Oil is still being priced in dollars, the power will have shifted when it's priced in something else.
You mean like an oil standard, a modern version of the old gold standard?Which keeps the value of the dollar potentially higher as people need dollars to purchase gold ? So say the fed can create a trillion dollars of funny money to prop up US house prices !?
Timmy35 said:
It being Beardie he'll be upto something, probably wants to lauch a green energy business and have the Government fund it. There's alot going on in waste to energy at present.
Basically you subject rubbish ( domestic ) to pyrolysis and either burn the syngas to make power, or catalyse it to get a liquid fuel.
London churns out about 12m tons of rubbish a year alone. The Danes power 400,000 houses or rubbish.
Thank you, interesting developments. Basically you subject rubbish ( domestic ) to pyrolysis and either burn the syngas to make power, or catalyse it to get a liquid fuel.
London churns out about 12m tons of rubbish a year alone. The Danes power 400,000 houses or rubbish.
As long as they keep their mitts off waste vegetable oil as it is meant to be made into bio diesel by men in their garages with whacky contraptions
Timmy35 said:
It being Beardie he'll be upto something, probably wants to lauch a green energy business and have the Government fund it. There's alot going on in waste to energy at present.
Basically you subject rubbish ( domestic ) to pyrolysis and either burn the syngas to make power, or catalyse it to get a liquid fuel.
London churns out about 12m tons of rubbish a year alone. The Danes power 400,000 houses or rubbish.
The new Von Roll INOVA facility at Belvedere will come online soon, it'll be interesting to see how people respond to it. Waste to energy combined with new carbon capture technologies could be one way forward.Basically you subject rubbish ( domestic ) to pyrolysis and either burn the syngas to make power, or catalyse it to get a liquid fuel.
London churns out about 12m tons of rubbish a year alone. The Danes power 400,000 houses or rubbish.
Mattt said:
Timmy35 said:
It being Beardie he'll be upto something, probably wants to lauch a green energy business and have the Government fund it. There's alot going on in waste to energy at present.
Basically you subject rubbish ( domestic ) to pyrolysis and either burn the syngas to make power, or catalyse it to get a liquid fuel.
London churns out about 12m tons of rubbish a year alone. The Danes power 400,000 houses or rubbish.
The new Von Roll INOVA facility at Belvedere will come online soon, it'll be interesting to see how people respond to it. Waste to energy combined with new carbon capture technologies could be one way forward.Basically you subject rubbish ( domestic ) to pyrolysis and either burn the syngas to make power, or catalyse it to get a liquid fuel.
London churns out about 12m tons of rubbish a year alone. The Danes power 400,000 houses or rubbish.
It's pretty exciting technology. As long as it gets past the Nimbys.
I've been working on the financials for a smaller plant than that, but it's interesting as the infrastructure needed is amazingly small, as is the CAPEX required.
Hopefully even the Greenies will realise it's a beneficial technology.
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