"...and I predict, Odungo will return to bath houses"
Posted on 12/03/2014 7:50:28 AM PST by thackney
It is in his interest, that natural gas fueling of vehicles continue to grow. Higher oil prices encourages folks to seek the alternatives to gasoline/diesel.
TBone and Cramer. The Obama and Holder of Oil.
Thanks for posting this.
"...and I predict, Odungo will return to bath houses"
I thought T. Boone Pickens gave up on Oil and was a Wind Turbine man now
Actually, he has pursued Natural Gas Vehicle fueling for quite a while.
Before our Shale Gas “Boom”, the wind was a way to free up Natural Gas used for electric power generation. (also some power corridors with water rights at the same time...)
Now that Nat Gas is reasonably plentiful and economic, he dropped that side of it.
I don’t see the Saudi’s making any big production cuts to save the rest of OPEC’s collective asses, but I don’t think they will need to.
$70 oil will stimulate worldwide economic growth which will in turn increase demand for oil which will slowly drive the price back up to $100. I predict oil will stabilize again at around $100 again in about a year.
Oil can’t go much further above $100 without stimulating more U.S. shale oil production which would again lead to a glut in oil and lower prices.
Yes. But if oil prices tank then his wind investments become worthless.
Disagree. Oil actually has much further to fall to reach equilibrium.
He’s into all kinds of energy. He added lotsa windmills to his portfolio...but not sure if it was attached to HUGE subsidies.
Oil really isn’t used to generate electricity so they are not much related.
And it was Natural Gas that he was and still is promoting for vehicle use. Wind was a way to free up gas but not needed now with shale field production rates.
Not to many that are in the market agree with that.
Prices are still fluctuating but rising this morning.
http://online.wsj.com/mdc/public/page/2_3028.html?category=Energy&subcategory=Petroleum
I would say this...two things have to occur for oil to get back toward $100. Putin probably has to give in on the Ukraine or retire as one of the conditions. Second, I think the dollar has to grow in value in terms of it’s relationship to the Euro. For ten years...way back into the Bush era....the dollar shrink to like 1.35 to the Euro. It was out of whack at that value, but everyone believed that a cheap dollar would boost US business sales in Europe (it barely scratched the surface).
If neither of these events occur...I’ll predict that oil stays below $80 for a decent amount of time.
If someone really wanted to take the Saudis out of the picture...what is there to stop them?
T. Boone Pickens Drops Wind Power From His Energy Plan
http://theenergycollective.com/nathanaelbaker/48644/t-boone-pickens-drops-wind-power-his-energy-plan
December 15, 2010
Every time I’ve acted on Cramer’s pontifications, I’ve lost money. It’s pure speculation. And Pickens has money in the game. If he has holdings in oil that he didn’t cash out, he likely doesn’t want to sell out now at a loss, so he has no choice but to hold on and hope that the price will go back up so that his holdings return to their prior values. He’s like those who hold a lot of gold and tell people to buy gold so that the price will stay up so they can sell their own gold at a profit or without losing a lot of money.
Can you explain what you mean?
I restate my prediction: Gas below $2.00 by Jan 1, 2015 in central TX. A station in Round Rock is now $2.29.
Not interested in day to day spikes and valleys. Over the long run, the economy cannot sustain high oil prices. The fundamental supply and demand has been unchanged with minor fluctuations since 2000, yet the prices are double even today with negligible inflation.
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