Commodities | Oil, gold, and silver . . .

Now, what news on the Rialto?
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Nonc Hilaire
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Re: Gold and silver . . .

Post by Nonc Hilaire »

Typhoon wrote:
Nonc Hilaire wrote:
Typhoon wrote:
Nonc Hilaire wrote:There is Basel III, and it's requirement that international loans be secured by hard assets. No more use of projected future revenues, and gold is specifically classed as a valid asset. This inclusion gives it a solid value; it is internationally accepted collateral.

Gold, unlike real estate, is portable. I think countries with little gold will find international trade difficult.
POTUS Nixon "closed the gold window" in 1971.

For gold to be anything other than a minor commodity, our floating currencies would have to once again fixed, as per Bretton-Woods.

I think that the odds of this happening is effectively zero, given that the forex market is one of the largest, if not the largest, on the planet.
This is the new BIS international banking system regs, not the U.S. currency basis. See http://www.bis.org/bcbs/basel3.htm
Would you please point me to the section you had in mind?

Panning the BIS site for "gold" turned up nuggets such as

http://www.bis.org/press/p030311d.htm

Anyways, I was referring to the international forex market which includes the current reserve currency, the US dollar.

What I know about Basel III is that bank leverage is capped at a mere 33:1.
Sorry about the obscure reference. Look at the following commentary http://nationalinterest.org/commentary/ ... -back-7809

I'm not talking about a "gold standard", simply that gold is becoming more important in international trade.
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Zack Morris
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Re: Gold and silver . . .

Post by Zack Morris »

Gold is a terrible investment. I'm skeptical of its utility even as insurance against hyperinflation or economic armageddon. In a time of true crisis, nobody is going to want shiny gold coins. You'd be better off hoarding weapons and food. If anything, gun legislation is likely to get stricter, so that stockpile of AR-15s might really be worth a premium.

A sure-fire investment strategy (unless you are within 5 years of retirement, of course) is to simply purchase SPY and forget. It's doubtful you'll be able to beat it in the long run. Buy and hold. That's how the pro's play the market. The rest of their money is invested into real estate and business ventures.
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Heracleum Persicum
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Re: Gold and silver . . .

Post by Heracleum Persicum »

Zack Morris wrote:.

Gold is a terrible investment. I'm skeptical of its utility even as insurance against hyperinflation or economic armageddon. In a time of true crisis, nobody is going to want shiny gold coins. You'd be better off hoarding weapons and food. If anything, gun legislation is likely to get stricter, so that stockpile of AR-15s might really be worth a premium.

A sure-fire investment strategy (unless you are within 5 years of retirement, of course) is to simply purchase SPY and forget. It's doubtful you'll be able to beat it in the long run. Buy and hold. That's how the pro's play the market. The rest of their money is invested into real estate and business ventures.

.

wat is SPY ?


.
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Alexis
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Re: Gold and silver . . .

Post by Alexis »

Typhoon wrote:
Alexis wrote:Speaking of which, physical gold deliveries by the Shanghai Gold Exchange during the 6 first months of 2013 almost equaled the total of year 2012. Which is to say that rythm of gold delivery to Chinese buyers has practically doubled since gold price began to seriously fall beginning 2013.

- In China, gold price decrease is seen as an opportunity to buy more, since its price is so low.
:arrow: Gold is seen as having intrinsically a high value.

- In US, Europe and Japan, gold price decrease is seen as indication that "gold is over"
:arrow: Gold is seen as speculative instrument.

One thing is sure: one and only one of these opinions is deeply flawed and wrong.

I think the Chinese are right on that.

Time will tell.
No one buys more gold than India.

However, it is yet to become the land of milk and honey or, at least, lassi and chutney.
Traditionnally, it used to be India. For the last two years or so, China has taken the lead.

Things do not always remain what they were :)
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Zack Morris
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Re: Gold and silver . . .

Post by Zack Morris »

Heracleum Persicum wrote:
Zack Morris wrote:.

Gold is a terrible investment. I'm skeptical of its utility even as insurance against hyperinflation or economic armageddon. In a time of true crisis, nobody is going to want shiny gold coins. You'd be better off hoarding weapons and food. If anything, gun legislation is likely to get stricter, so that stockpile of AR-15s might really be worth a premium.

A sure-fire investment strategy (unless you are within 5 years of retirement, of course) is to simply purchase SPY and forget. It's doubtful you'll be able to beat it in the long run. Buy and hold. That's how the pro's play the market. The rest of their money is invested into real estate and business ventures.

.

wat is SPY ?


.
SPY is the ticker symbol for the SPDR S&P500 ETF. It is a portfolio weighted the same as the S&P500 and is essentially the same as buying the market. Options on SPY are among the most frequently traded on US exchanges (along with AAPL) for obvious reasons.
Mr. Perfect
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Re: Gold and silver . . .

Post by Mr. Perfect »

Zack Morris wrote:Gold is a terrible investment. I'm skeptical of its utility even as insurance against hyperinflation or economic armageddon. In a time of true crisis, nobody is going to want shiny gold coins. You'd be better off hoarding weapons and food. If anything, gun legislation is likely to get stricter, so that stockpile of AR-15s might really be worth a premium.

A sure-fire investment strategy (unless you are within 5 years of retirement, of course) is to simply purchase SPY and forget. It's doubtful you'll be able to beat it in the long run. Buy and hold. That's how the pro's play the market. The rest of their money is invested into real estate and business ventures.
Youth.
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Typhoon
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Re: Gold and silver . . .

Post by Typhoon »

Alexis wrote:
Typhoon wrote:
Alexis wrote:Speaking of which, physical gold deliveries by the Shanghai Gold Exchange during the 6 first months of 2013 almost equaled the total of year 2012. Which is to say that rythm of gold delivery to Chinese buyers has practically doubled since gold price began to seriously fall beginning 2013.

- In China, gold price decrease is seen as an opportunity to buy more, since its price is so low.
:arrow: Gold is seen as having intrinsically a high value.

- In US, Europe and Japan, gold price decrease is seen as indication that "gold is over"
:arrow: Gold is seen as speculative instrument.

One thing is sure: one and only one of these opinions is deeply flawed and wrong.

I think the Chinese are right on that.

Time will tell.
No one buys more gold than India.

However, it is yet to become the land of milk and honey or, at least, lassi and chutney.
Traditionnally, it used to be India. For the last two years or so, China has taken the lead.

Things do not always remain what they were :)
China's gold imports in November 2013 fell 42% y-o-y, while holdings of USTs hit an all-time high of $1.3 trillion.

Currently, there's a bit of a panic going in the so-called emerging markets, including the BRICs, and the perceived safe-haven of choice is again USTs not gold bars.
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Zack Morris
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Re: Gold and silver . . .

Post by Zack Morris »

Mr. Perfect wrote:
Zack Morris wrote:Gold is a terrible investment. I'm skeptical of its utility even as insurance against hyperinflation or economic armageddon. In a time of true crisis, nobody is going to want shiny gold coins. You'd be better off hoarding weapons and food. If anything, gun legislation is likely to get stricter, so that stockpile of AR-15s might really be worth a premium.

A sure-fire investment strategy (unless you are within 5 years of retirement, of course) is to simply purchase SPY and forget. It's doubtful you'll be able to beat it in the long run. Buy and hold. That's how the pro's play the market. The rest of their money is invested into real estate and business ventures.
Youth.
The other day, Warren Buffet more or less concurred with my investment advice:
What I advise here is essentially identical to certain instructions I've laid out in my will. One bequest provides that cash will be delivered to a trustee for my wife's benefit. (I have to use cash for individual bequests, because all of my Berkshire shares will be fully distributed to certain philanthropic organizations over the ten years following the closing of my estate.) My advice to the trustee could not be more simple: Put 10% of the cash in short-term government bonds and 90% in a very low-cost S&P 500 index fund. (I suggest Vanguard's.) I believe the trust's long-term results from this policy will be superior to those attained by most investors -- whether pension funds, institutions or individuals -- who employ high-fee managers.
Not even a mention of gold or silver. And certainly no day-trading with options -- it's little more than casino where the house (in this case, large automated options market makers like Citadel) nearly always wins. What Warren and I suggest is in fact what professionals on Wall Street actually do. At least this is what I have observed here in New York from a close friend who is a portfolio manager for a $3B mutual fund and people working in algo trading.
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Miss_Faucie_Fishtits
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Re: Gold and silver . . .

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http://pjmedia.com/tatler/2014/03/03/go ... e-shocker/
Treasure trove is any gold or silver in coin, plate, or bullion that is hidden by an unknown owner in the earth or other private place for an extended period. The property is not considered treasure trove unless the identity of the owner cannot be determined. Under early common law, the finder of a treasure trove took title to it against everyone but the true owner. The U.S. law governing treasure trove has been merged, for the most part, into the law governing lost property. In the absence of a contrary statutory provision, the title to treasure trove belongs to the finder against all others with the exception of the true owner.
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Re: Gold and silver . . .

Post by noddy »

dunno zack, your view on economics is about the simple obvious reality that the standard of living on credit is higher than not using it and that they can keep that going indefinately.

which is nice, except that it benefits some more than others and the last few decades havent been pleasant to those who arent upper middle.

as for gold buying when its sitting in the 300-400 band has been a winner.

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Re: Gold and silver . . .

Post by Mr. Perfect »

Zack Morris wrote: The other day, Warren Buffet more or less concurred with my investment advice:
Warren Buffet did not predict the housing bubble burst or the resulting market collapse.
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Heracleum Persicum
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Re: Gold and silver . . .

Post by Heracleum Persicum »

Mr. Perfect wrote:
Zack Morris wrote: The other day, Warren Buffet more or less concurred with my investment advice:
Warren Buffet did not predict the housing bubble burst or the resulting market collapse.

Buffet has not "created" anything in his life

his speciality is waiting for others to drop dead to pick up on the cheap

not somebody to look up to

Steve Jobs was what one should look up to
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Zack Morris
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Re: Gold and silver . . .

Post by Zack Morris »

Mr. Perfect wrote:
Zack Morris wrote: The other day, Warren Buffet more or less concurred with my investment advice:
Warren Buffet did not predict the housing bubble burst or the resulting market collapse.
Nor did you. Buffet would argue that such speculation about the boom and bust cycle is none of his business. Those Vanguard funds recovered just fine in the end.
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Re: Gold and silver . . .

Post by Mr. Perfect »

But I'm predicting the next one, and I profited enormously from the last one, way, way, way, way more than Buffett did. I've done way better than Buffet over the last several year.s So much better you wouldn't even believe it.

Yes, the 1% funds have recovered nicely thanks to preferential STPN, enriching white people dramatically while leaving poor minorities even further back in the dust, as Dem policies always do.

But anyway the facepalmworthy material is this;
Buy and hold. That's how the pro's play the market. The rest of their money is invested into real estate and business ventures.
What has usually been found in the opening paragraphs of investment pamphlets for the last 100 years you proclaim as if you found the cure for cancer. Your investment insight is no different than an investment advisor working out of trailer outside Oklahoma City. And somehow you needed to run into a professional fund manager to learn about. I don't know how you are going to navigate this world Zack Morris.

And of course you should never, ever, ever, ever, ever, ever, do this.
A sure-fire investment strategy (unless you are within 5 years of retirement, of course) is to simply purchase xyz and forget.
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Zack Morris
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Re: Gold and silver . . .

Post by Zack Morris »

Mr. Perfect wrote:But I'm predicting the next one, and I profited enormously from the last one, way, way, way, way more than Buffett did. I've done way better than Buffet over the last several year.s So much better you wouldn't even believe it.
You've been predicting a crisis every single year since the last one.
What has usually been found in the opening paragraphs of investment pamphlets for the last 100 years you proclaim as if you found the cure for cancer. Your investment insight is no different than an investment advisor working out of trailer outside Oklahoma City.
That investment adviser working out of his trailer still manages to charge a hefty performance fee for that same old tired advice.
And of course you should never, ever, ever, ever, ever, ever, do this.
A sure-fire investment strategy (unless you are within 5 years of retirement, of course) is to simply purchase xyz and forget.
Buy a broad index and forget. If you have to check on your investments weekly, you're just gambling.
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Re: Gold and silver . . .

Post by Mr. Perfect »

Zack Morris wrote: You've been predicting a crisis every single year since the last one.
And there has been one. Of course as you have no interest in the plight of the poor or unfortunate or needy it's not on your radar. But for those of us with human compassion this has been a terrifying time.

Image
That investment adviser working out of his trailer still manages to charge a hefty performance fee for that same old tired advice.
Looks like you have something in common with teabaggers. Tired old advice. One could say Captain Obvious.
Buy a broad index and forget. If you have to check on your investments weekly, you're just gambling.
Warren Buffett checks on his investments every week. So does your manager buddy.
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Oil & Gas

Post by Heracleum Persicum »

QNCQWuCpgdo
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Endovelico
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Re: Oil & Gas

Post by Endovelico »

Why Oil Is Plunging: The Other Part Of The "Secret Deal" Between The US And Saudi Arabia
Submitted by Tyler Durden on 10/10/2014 18:19 -0400

Two weeks ago, we revealed one part of the "Secret Deal" between the US and Saudi Arabia: namely what the US 'brought to the table' as part of its grand alliance strategy in the middle east, which proudly revealed Saudi Arabia to be "aligned" with the US against ISIS, when in reality John Kerry was merely doing Saudi Arabia's will when the WSJ reported that "the process gave the Saudis leverage to extract a fresh U.S. commitment to beef up training for rebels fighting Mr. Assad, whose demise the Saudis still see as a top priority."

What was not clear is what was the other part: what did the Saudis bring to the table, or said otherwise, how exactly it was that Saudi Arabia would compensate the US for bombing the Assad infrastructure until the hated Syrian leader was toppled, creating a power vacuum in his wake that would allow Syria, Qatar, Jordan and/or Turkey to divide the spoils of war as they saw fit.

A glimpse of the answer was provided earlier in the article "The Oil Weapon: A New Way To Wage War", because at the end of the day it is always about oil, and leverage.

The full answer comes courtesy of Anadolu Agency, which explains not only the big picture involving Saudi Arabia and its biggest asset, oil, but also the latest fracturing of OPEC at the behest of Saudi Arabia...

... which however is merely using "the oil weapon" to target the old slash new Cold War foe #1: Vladimir Putin.

To wit:

Saudi Arabia to pressure Russia, Iran with price of oil

Saudi Arabia will force the price of oil down, in an effort to put political pressure on Iran and Russia, according to the President of Saudi Arabia Oil Policies and Strategic Expectations Center.

Saudi Arabia plans to sell oil cheap for political reasons, one analyst says.

To pressure Iran to limit its nuclear program, and to change Russia's position on Syria, Riyadh will sell oil below the average spot price at $50 to $60 per barrel in the Asian markets and North America, says Rashid Abanmy, President of the Riyadh-based Saudi Arabia Oil Policies and Strategic Expectations Center. The marked decrease in the price of oil in the last three months, to $92 from $115 per barrel, was caused by Saudi Arabia, according to Abanmy.

With oil demand declining, the ostensible reason for the price drop is to attract new clients, Abanmy said, but the real reason is political. Saudi Arabia wants to get Iran to limit its nuclear energy expansion, and to make Russia change its position of support for the Assad Regime in Syria. Both countries depend heavily on petroleum exports for revenue, and a lower oil price means less money coming in, Abanmy pointed out. The Gulf states will be less affected by the price drop, he added.

The Organization of the Petroleum Exporting Countries, which is the technical arbiter of the price of oil for Saudi Arabia and the 11 other countries that make up the group, won't be able to affect Saudi Arabia's decision, Abanmy maintained.

The organization's decisions are only recommendations and are not binding for the member oil producing countries, he explained.

Today's Brent closing price: $90. Russia's oil price budget for the period 2015-2017? $100. Which means much more "forced Brent liquidation" is in the cards in the coming weeks as America's suddenly once again very strategic ally, Saudi Arabia, does everything in its power to break Putin.

http://www.zerohedge.com/news/2014-10-1 ... udi-arabia
Except that things may not work out exactly like that... Suppose Putin sends troops to Syria to help Assad... Suppose Iran finds an excuse (not too difficult) to bomb Saudi oil export facilities...
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Re: Oil & Gas

Post by Doc »

Endovelico wrote:
Why Oil Is Plunging: The Other Part Of The "Secret Deal" Between The US And Saudi Arabia
Submitted by Tyler Durden on 10/10/2014 18:19 -0400

Two weeks ago, we revealed one part of the "Secret Deal" between the US and Saudi Arabia: namely what the US 'brought to the table' as part of its grand alliance strategy in the middle east, which proudly revealed Saudi Arabia to be "aligned" with the US against ISIS, when in reality John Kerry was merely doing Saudi Arabia's will when the WSJ reported that "the process gave the Saudis leverage to extract a fresh U.S. commitment to beef up training for rebels fighting Mr. Assad, whose demise the Saudis still see as a top priority."

What was not clear is what was the other part: what did the Saudis bring to the table, or said otherwise, how exactly it was that Saudi Arabia would compensate the US for bombing the Assad infrastructure until the hated Syrian leader was toppled, creating a power vacuum in his wake that would allow Syria, Qatar, Jordan and/or Turkey to divide the spoils of war as they saw fit.

A glimpse of the answer was provided earlier in the article "The Oil Weapon: A New Way To Wage War", because at the end of the day it is always about oil, and leverage.

The full answer comes courtesy of Anadolu Agency, which explains not only the big picture involving Saudi Arabia and its biggest asset, oil, but also the latest fracturing of OPEC at the behest of Saudi Arabia...

... which however is merely using "the oil weapon" to target the old slash new Cold War foe #1: Vladimir Putin.

To wit:

Saudi Arabia to pressure Russia, Iran with price of oil

Saudi Arabia will force the price of oil down, in an effort to put political pressure on Iran and Russia, according to the President of Saudi Arabia Oil Policies and Strategic Expectations Center.

Saudi Arabia plans to sell oil cheap for political reasons, one analyst says.

To pressure Iran to limit its nuclear program, and to change Russia's position on Syria, Riyadh will sell oil below the average spot price at $50 to $60 per barrel in the Asian markets and North America, says Rashid Abanmy, President of the Riyadh-based Saudi Arabia Oil Policies and Strategic Expectations Center. The marked decrease in the price of oil in the last three months, to $92 from $115 per barrel, was caused by Saudi Arabia, according to Abanmy.

With oil demand declining, the ostensible reason for the price drop is to attract new clients, Abanmy said, but the real reason is political. Saudi Arabia wants to get Iran to limit its nuclear energy expansion, and to make Russia change its position of support for the Assad Regime in Syria. Both countries depend heavily on petroleum exports for revenue, and a lower oil price means less money coming in, Abanmy pointed out. The Gulf states will be less affected by the price drop, he added.

The Organization of the Petroleum Exporting Countries, which is the technical arbiter of the price of oil for Saudi Arabia and the 11 other countries that make up the group, won't be able to affect Saudi Arabia's decision, Abanmy maintained.

The organization's decisions are only recommendations and are not binding for the member oil producing countries, he explained.

Today's Brent closing price: $90. Russia's oil price budget for the period 2015-2017? $100. Which means much more "forced Brent liquidation" is in the cards in the coming weeks as America's suddenly once again very strategic ally, Saudi Arabia, does everything in its power to break Putin.

http://www.zerohedge.com/news/2014-10-1 ... udi-arabia
Except that things may not work out exactly like that... Suppose Putin sends troops to Syria to help Assad... Suppose Iran finds an excuse (not too difficult) to bomb Saudi oil export facilities...
Suppose Kim Jong Un decides to use that as a excuse to invade Honduras? After all there is still not actual confirmation that he has reappeared. Just some undated photos.

He could be in a submarine off the central American coast as we type here

Image
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Re: Oil & Gas

Post by Doc »

http://www.nytimes.com/2014/10/18/busin ... pe=article
Despite Slumping Prices, No End in Sight for U.S. Oil Production Boom


By CLIFFORD KRAUSSOCT. 17, 2014

Oil wells like these in North Dakota have helped ramp up production to 8.7 million barrels a day, the most in nearly 25 years. Credit Jim Wilson/The New York Times

HOUSTON — Falling oil and gasoline prices have sent oil company stocks tumbling, but oil experts say the boom in American energy production shows no signs of slowing down, keeping the market flush with crude and gasoline prices low.

Even after a drop of as much as 25 percent in oil prices since early summer, several government and private reports say that it would take a drop of $10 to $20 a barrel more — to as low as $60 a barrel — to slow production even modestly.

On the downside, taxes and royalties on oil will decline, potentially cutting into the finances of oil-producing states like Texas, Alaska, Oklahoma and North Dakota. And it will continue to put pressure on the Organization of the Petroleum Exporting Countries to cut output to support prices, as well as cause economic pain to big producers like Russia, Venezuela and Iran.

Ali al-Naimi, the Saudi oil minister, in June. He has said that lower prices are no cause for alarm.

As Oil Prices Plummet, Saudi Arabia Faces a Test of StrategyOCT. 15, 2014

Current production levels can be sustained in the shale fields in 2015 even if the Brent global oil benchmark, which fell to just under $84 a barrel at one point this week, dropped to as low as $60 to $65, according to Rystad Energy, an international oil and gas consultancy based in Norway.

Pressure on Oil Economies

The falling price of oil creates varying degrees of financial difficulties for countries that rely heavily on its export. According to research by Deutsche Bank, the point at which their national budgets break even varies from about $125 a barrel for Iran to less than $75 for Kuwait.

“Oil output will respond very slowly to a drop in oil prices,” Bjornar Tonhaugen, vice president for oil and gas markets at Rystad Energy, wrote in a report released this week. “Markets may even be oversupplied next year more than previously thought.”

Slowing American oil production is like slowing a freight train moving at high speed. The current production of 8.7 million barrels a day, the highest in nearly a quarter-century, is more than a million barrels a day higher than it was only a year ago. Most companies make their investment decisions well in advance and need months to slow exploration because of contracts with service companies. And if they do decide to cut back some drilling, they will pick the least prospective fields first as they continue developing the richest prospects.

The Energy Department this week reported that only 4 percent of shale production in North Dakota, Texas and other states needed an oil price above $80 a barrel for producers to break even on investments. One reason is that improved efficiencies in hydraulic fracturing and other modern production techniques have increased the output of each new well month after month in recent years.

For example, the Energy Department expects that new oil production from new wells in the North Dakota Bakken shale field will increase by seven barrels a day next month over this month, and in the Texas Eagle Ford field by eight barrels a day. Put together, over a couple of months that translates into tens of thousands of new barrels every day across the country, with no increase in investment.

Sadad Al Husseini, the former head of exploration and production at Saudi Aramco, predicted that the United States would add a million more barrels of oil in daily production over the next year.

“What is softening prices is weaker demand because of the global economy and the growing volume of North American production,” Mr. Al Husseini said in an interview. “So will prices bottom? It depends on what comes from the U.S.”

He added that when investors start seeing $75 to $80 oil, that will cut back some ambitions, and that could mean “a leveling off of new supplies by midyear 2015.”

The United States has banned most oil exports for four decades, but the expanded production has slashed imports from many OPEC countries, forcing them to drop their prices in Asia. The United States is also expanding its exports of refined products like gasoline and diesel, which are allowed, and that is cutting into production from other countries.

The Paris-based International Energy Agency, which accumulates and analyzes data for the industrialized nations, this week identified deep water offshore production, the Canadian oil sands and some of the American oil shale fields as the most susceptible to cuts in investment and production when oil prices fall. But only about 8 percent of these types of production require $80 a barrel oil to break even.

All told, the I.E.A. said only about 2.6 million barrels out of total world production of just over 90 million barrels requires a break-even price of $80, including some fields in China, Indonesia, Malaysia, Nigeria and Russia, which are high-cost fields in part because of how much the governments require producers to pay them in taxes and royalties.

Global and American benchmark oil prices bounced back a bit on Friday, ranging between roughly $83 and $86. The American benchmark, West Texas Intermediate, fell below $80 for the first time in two years briefly Thursday morning, and some oil experts say it could break the symbolic threshold again in coming days.

Lower oil prices mean lower prices at the pump for American consumers. The average national price for a gallon of regular gasoline on Friday was $3.14, 10 cents lower than it was a week ago and 22 cents lower than a year ago, according to the AAA motor club. That is the lowest price in more than three years.

Roughly a third of the nation’s gas stations are selling gasoline for less than $3 a gallon. The average American family saves about $120 a year for every dime drop in the gasoline price, experts say.

Many oil experts say that Saudi Arabia and several other OPEC countries that have shaved their prices in recent days are trying to drive down global production, and particularly American and Canadian production, to protect their market share. But with a growing population and struggling to tamp down potential domestic unrest, Saudi Arabia carries a rising social service budget that is financed almost entirely by oil money.

Over the long term, it may need to stretch its production as much as or more than the United States.

“For the government to balance budgets on an ongoing basis, higher oil prices are inevitably required,” Badr H. Jafar, president of Crescent Petroleum, a United Arab Emirates-based oil and gas company, said in an email exchange. “Otherwise, if oil prices continue to fall, maximizing production may be an imperative to securing required higher revenues, and that in turn might have a catastrophic effect with the creation of a major glut.”
"I fancied myself as some kind of god....It is a sort of disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out.” -- George Soros
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Heracleum Persicum
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Re: Oil & Gas

Post by Heracleum Persicum »

.

In final analysis, lower Oil prices is good for everybody

.
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Nonc Hilaire
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Re: Oil & Gas

Post by Nonc Hilaire »

Image

That man needs some cheap oil now! I think he's stuck!
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Re: Oil & Gas

Post by Doc »

Nonc Hilaire wrote:Image

That man needs some cheap oil now! I think he's stuck!
No in this photo Kim Jong Un is pretending he is a Ballistic Missile aimed at North Korea's enemies Ever ready to destroy them for the North Korea people!!!
"I fancied myself as some kind of god....It is a sort of disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out.” -- George Soros
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Nonc Hilaire
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Re: Oil & Gas

Post by Nonc Hilaire »

Doc wrote:No in this photo Kim Jong Un is pretending he is a Ballistic Missile aimed at North Korea's enemies Ever ready to destroy them for the North Korea people!!!
That does explain the haircut.
“Christ has no body now but yours. Yours are the eyes through which he looks with compassion on this world. Yours are the feet with which he walks among His people to do good. Yours are the hands through which he blesses His creation.”

Teresa of Ávila
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Typhoon
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Re: Oil & Gas

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Image
May the gods preserve and defend me from self-righteous altruists; I can defend myself from my enemies and my friends.
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