# The "Oil Prices" thread. **URL:** \ **Category:** NYSpeed Off Topic\ **Created:** [March 10, 2008, 10:44am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739 "2008-03-10T10:44:58Z")\ **Posts on this page:** 19\ **Page:** 93
**Author:** ![tpgsr](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/tpgsr/32/7374_2.png) [@tpgsr](https://forums.speedlife.net/u/tpgsr)\ **Post date:** [January 20, 2016, 5:39am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1841 "2016-01-20T05:39:55Z")
I am in Electrical Distribution and our Oil and Gas division was off nearly 60% to budget last year. That is a sum of billions that we have already lost. We were cranking along at a break neck pace and then it just fell out. The low cost of oil, banning and regulation of fracking etc… Lots of companies in my sector and the industrial sector are already seeing some fallout and have already cut spending and labor. Hopefully commercial construction maintains and we will carefully navigate through this. ---
**Author:** ![boxxa](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/boxxa/32/5045_2.png) [@boxxa](https://forums.speedlife.net/u/boxxa)\ **Post date:** [January 20, 2016, 7:52am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1842 "2016-01-20T07:52:48Z")
> [@Joe](#): > > I think some of the contango was due to people trying to guess the point where the expensive oil producers would bust out and time their entry, but between Iran coming online and the Saudis basically disavowing themselves of OPEC, now the mood is that the Middle East is going to pump every drop they can since their cost basis is so low until they run dry. Also, there’s nowhere left to store it. US shipped its oil over seas out of reserves pretty recently which is nice. Shows how much more we have. > [@bing](#): > > i dont think you’ll see too many people go under. instead they’ll likely be consolidated into larger, better operating companies > > this is already happening up here. One of the benefits of these big companies is they have assets on the books which makes them nice to take over. Between drilling rights, the equipment, and the land ownership, they will continue to consolidate. Oil futures are getting darker and darker. Not seeing $40 until Dec 2018. ---
**Author:** ![Blue\_Eyed\_Devil](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/blue_eyed_devil/32/7292_2.png) [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)\ **Post date:** [January 20, 2016, 7:59am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1843 "2016-01-20T07:59:30Z")
Not seeing $40 until Dec 2018? Is this your prediction? Just curious because as much as I love filling up for cheap, bad things could happen around the world. ---
**Author:** ![LZ1](https://avatars.discourse-cdn.com/v4/letter/l/7ab992/32.png) [@LZ1](https://forums.speedlife.net/u/LZ1)\ **Post date:** [January 20, 2016, 8:06am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1844 "2016-01-20T08:06:09Z")
> [@Blue Eyed Devil](#): > > Not seeing $40 until Dec 2018? Is this your prediction? Just curious because as much as I love filling up for cheap, bad things could happen around the world. Always with the negative outlook im pretty sure if we went back to your first post the world should have been taken over by aliens at least 5x by now. ---
**Author:** ![Blue\_Eyed\_Devil](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/blue_eyed_devil/32/7292_2.png) [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)\ **Post date:** [January 20, 2016, 9:29am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1845 "2016-01-20T09:29:23Z")
I believe it was being saved not attacked. 😃 - - - Updated - - - I may have said this another thread, I would not be surprised if almost all new passenger cars are electric in 10 years or so. ---
**Author:** ![LZ1](https://avatars.discourse-cdn.com/v4/letter/l/7ab992/32.png) [@LZ1](https://forums.speedlife.net/u/LZ1)\ **Post date:** [January 20, 2016, 10:03am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1846 "2016-01-20T10:03:15Z")
> [@Blue Eyed Devil](#): > > I believe it was being saved not attacked. 😃 > > - > - > - Updated - - - > > I may have said this another thread, I would not be surprised if almost all new passenger cars are electric in 10 years or so. with what power grid? ---
**Author:** ![Blue\_Eyed\_Devil](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/blue_eyed_devil/32/7292_2.png) [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)\ **Post date:** [January 20, 2016, 10:40am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1847 "2016-01-20T10:40:20Z")
I like to call it the anti-grid. 😉 ---
**Author:** ![Joe](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/joe/32/7219_2.png) [@Joe](https://forums.speedlife.net/u/Joe)\ **Post date:** [January 20, 2016, 11:53am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1848 "2016-01-20T11:53:40Z")
> [@Blue Eyed Devil](#): > > Some call our dollar the Petro-Dollar because oil. We are no longer based/backed by gold but oil was always traded in US Dollars. Some claim our dollar will collapse if oil gets to low or culture use other forms of money to trade. Most US people think we are invincible, we will see if the house of cards gets to continue. Oil may be traded in USD but other currencies are much more sensitive to oil prices. Take a look at the Russian Ruble, all time low today. Has gone from 30-35 rubles per dollar to more than 80! CAD would be more of a petro-dollar than US as well. ---
**Author:** ![boxxa](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/boxxa/32/5045_2.png) [@boxxa](https://forums.speedlife.net/u/boxxa)\ **Post date:** [January 20, 2016, 12:51pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1849 "2016-01-20T12:51:35Z")
> [@Blue Eyed Devil](#): > > Not seeing $40 until Dec 2018? Is this your prediction? Just curious because as much as I love filling up for cheap, bad things could happen around the world. No it was a comparison to the previous post of mine. Bloomberg terminals showed DEC '16 prices around $45. There is a deep sentiment change in the markets it seems with oil and extending out pretty significantly. I closed my short yesterday at $28 and change. I am waiting to see how this plays out in this range since that $30 mark is a significant price for a lot of the industry. > [@Joe](#): > > Oil may be traded in USD but other currencies are much more sensitive to oil prices. Take a look at the Russian Ruble, all time low today. Has gone from 30-35 rubles per dollar to more than 80! CAD would be more of a petro-dollar than US as well. Ruble has been toast for a while. ---
**Author:** ![bing](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/bing/32/7211_2.png) [@bing](https://forums.speedlife.net/u/bing)\ **Post date:** [January 20, 2016, 1:20pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1850 "2016-01-20T13:20:04Z")
yeah russia has a bunch of shit weighing it’s currency down. @**[boxxa](http://www.nyspeed.com/member.php?u=2593)** were you saying that the futures are showing oil staying under $40 until 2018 or did you mean that you were speculating at that? ---
**Author:** ![boxxa](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/boxxa/32/5045_2.png) [@boxxa](https://forums.speedlife.net/u/boxxa)\ **Post date:** [January 20, 2016, 1:26pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1851 "2016-01-20T13:26:49Z")
> [@bing](#): > > yeah russia has a bunch of shit weighing it’s currency down. > > @**[boxxa](http://www.nyspeed.com/member.php?u=2593)** were you saying that the futures are showing oil staying under $40 until 2018 or did you mean that you were speculating at that? No the current Dec '18 settlement CLZ18 contract is that price: [Crude Oil WTI Dec '18 Futures Price - Barchart.com](http://www.barchart.com/quotes/futures/CLZ18) You can see all the settlement times here and the outlook is not good. > **[WTI Crude Futures Pricing](https://www.ice.com/products/213/WTI-Crude-Futures/data)** > > The ICE West Texas Intermediate (WTI) Light Sweet Crude Oil Futures > Contract offers participants the opportunity to trade one of the > world's most liquid oil commodities in an electronic marketplace. > The contract not only brings the benefits of... ---
**Author:** ![bing](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/bing/32/7211_2.png) [@bing](https://forums.speedlife.net/u/bing)\ **Post date:** [January 20, 2016, 2:18pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1852 "2016-01-20T14:18:56Z")
all that shit is beyond me just by looking at it… i just wanted to know where the number was coming from. I would be willing to bet we’ll be over $41 by 2018 for sure. ---
**Author:** ![Joe](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/joe/32/7219_2.png) [@Joe](https://forums.speedlife.net/u/Joe)\ **Post date:** [January 20, 2016, 2:59pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1853 "2016-01-20T14:59:30Z")
Airlines and shipping companies can use this opportunity to hedge and lock in cheap fuel costs for years to come. Hopefully we’ll see it passed on to customers in the form of lower prices, but with all of the mergers and consolidation the last few years they’ll probably just use it as a chance to pad their margins. ---
**Author:** ![Blue\_Eyed\_Devil](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/blue_eyed_devil/32/7292_2.png) [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)\ **Post date:** [January 20, 2016, 3:45pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1854 "2016-01-20T15:45:39Z")
Many vendors still try charging fuel surcharges, I just cross it out and don’t pay it. ---
**Author:** ![cougarspeed](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/cougarspeed/32/7468_2.png) [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)\ **Post date:** [January 21, 2016, 11:20am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1855 "2016-01-21T11:20:36Z")
> [@Blue Eyed Devil](#): > > Many vendors still try charging fuel surcharges, I just cross it out and don’t pay it. I just had a vendor contract renewal that went from no surcharge to now having one. In the nicest words I could muster up asked him to try again. ---
**Author:** ![Blue\_Eyed\_Devil](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/blue_eyed_devil/32/7292_2.png) [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)\ **Post date:** [January 21, 2016, 11:35am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1856 "2016-01-21T11:35:30Z")
Nicest words… “Step away from the crack pipe.” ---
**Author:** ![boardjnky4](https://avatars.discourse-cdn.com/v4/letter/b/96bed5/32.png) [@boardjnky4](https://forums.speedlife.net/u/boardjnky4)\ **Post date:** [January 22, 2016, 11:22am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1857 "2016-01-22T11:22:11Z")
> [@bing](#): > > i dont think you’ll see too many people go under. instead they’ll likely be consolidated into larger, better operating companies > > this is already happening up here. > **[Red flag: Oil company defaults are spiking](https://money.cnn.com/2016/01/22/investing/oil-crisis-defaults-rise/index.html?iid=hp-stack-dom)** > > The 42nd North American driller recently filed for bankruptcy. If the last bust in 1986 is any guide, it's going to get worse this year. ---
**Author:** ![Onyx\_Z32](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/onyx_z32/32/7581_2.png) [@Onyx\_Z32](https://forums.speedlife.net/u/Onyx_Z32)\ **Post date:** [January 22, 2016, 11:29am UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1858 "2016-01-22T11:29:06Z")
> [@boardjnky4](#): > > [Oil company defaults are spiking](http://money.cnn.com/2016/01/22/investing/oil-crisis-defaults-rise/index.html?iid=hp-stack-dom) > As the smaller players run out of cash, they will get swallowed up by bigger ones. > “The big boys and girls will snap up a lot of cheap assets,” predicts Lynch. As the smaller players run out of cash, they will get swallowed up by bigger ones. Agario in real life! @bing ---
**Author:** ![Joe](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/joe/32/7219_2.png) [@Joe](https://forums.speedlife.net/u/Joe)\ **Post date:** [January 22, 2016, 12:48pm UTC](https://forums.speedlife.net/t/the-oil-prices-thread/44739/1859 "2016-01-22T12:48:47Z")
Cut bait on half of my long oil position with the pop the last 2 days. Been stuck in it for a year and the fundamentals have changed. [Previous page](https://forums.speedlife.net/t/the-oil-prices-thread/44739.md?page=92)