Oil price rises on global economy hopes

MrRee_2

"The oil price has risen sharply on optimism about the global economy.

Brent crude closed at $112.27 a barrel, up $4.89 on the day, while US crude was up $4.13 to $102.96.

Better-than-expected survey data from the US, China, India and some eurozone states boosted hopes for a global recovery and increased oil demand"

Things look good for 2012 ..... so, the Oil Price goes UP! There's always someone who wants to spoil the party!!

Good that everyone now recognises that the economies of the world are on the up .....

Asheron

When they attack Iran you will see the price double at the pumps....

MrRee_2

You don't know it yet ....... but they/we have attacked the Nuclear Installations of Iran!

nickj_2

have the yanks cleared their debt ?

MrRee_2

They don't care about debt .....

AD9898_2

Isn't this obvious and something I've been talking about on this forum for many years. I've mentioned this 'saw tooth plateau' on numerous occasions, where we grow, oil rises, we stall or go into recession, oil falls back, we grow, oil rises etc..

This, in my estimation will continue until around 2018-2020 when we fall off the plateau as oil production falls away. It is at this time that things will get very interesting and not in a good way.

I'm afraid this time, there is no 'recovery' in the terms we are used to over the past decades, it's been 3-4 years since peak oil and as we are seeing there has been little or no kind of recovery in that time.

I'm really surprised that the penny hasn't dropped with the general public. It will do given time.

pararct

Nothing to see here really.......

This price is simply market reaction to Iranian posturing....

http://www.bbc.co.uk/news/world-middle-east-16344102

Iran says it may close a vital oil-trade route if the West imposes more sanctions over its controversial nuclear programme.
Vice-President Mohammad Reza Rahimi warned that "not a drop of oil will pass through the Strait of Hormuz" if sanctions are widened.

Conrad

AD9898 wrote: »

Isn't this obvious and something I've been talking about on this forum for many years. I've mentioned this 'saw tooth plateau' on numerous occasions, where we grow, oil rises, we stall or go into recession, oil falls back, we grow, oil rises etc..

This, in my estimation will continue until around 2018-2020 when we fall off the plateau as oil production falls away. It is at this time that things will get very interesting and not in a good way.

I'm afraid this time, there is no 'recovery' in the terms we are used to over the past decades, it's been 3-4 years since peak oil and as we are seeing there has been little or no kind of recovery in that time.

I'm really surprised that the penny hasn't dropped with the general public. It will do given time.

Jimmy Carters annual broadcast to the citizens claimed peak oil would be reached within a year, this was in 1977. He repeated the claim for 3 years. He also used your narrative.

Something else to bare in mind is many developing nations are going straight to sunlight and cutting out the middleman (oil) which is of course merely a store of past sunlight as it were.

Solar is about to hit the tipping point and become more cost effective than fossil fuel.

This is but one solution, there are many more.

Did you know Seimens are building a plant in the Sahara that will supply 15% of Europes energy - JUST 1 LITTLE PLANT - the Sahara is vast.

Honestly mate, you need to get the bigger picture.

Read Futurebabble - it reveals how peak oil has been predicted almost every year for 100 years.

Conrad

The technology that will initially be used in Morocco is concentrated solar power (CSP), a process in which sunlight concentrated by mirrors heats water, which produces steam to drive a turbine.
Crucially, the heat can be stored, allowing a secure supply even when the sun is not shining.


Crucially, the heat can be stored, allowing a secure supply even when the sun is not shining.

CSP has been getting cheaper, but not as quickly as photovoltaic (PV)

nearlynew

Generating electricity will be the least of our problems in the future.

Portable, safe, cheap liquid/gas fuel is what we need and on that score nothing yet comes close to matching fossil fuels.

[Deleted User]

interesting article on tv this week about burning coal UNDERGROUND to supply perhaps all the power the uk will need for 200+years,around 15 sites have already been licensed for this and more will follow