Re: Oil Prices dropping $4 dollars a day
 

I always move my bike away to free up the pump before paying 8-[

Re: Oil Prices dropping $4 dollars a day
 

prices are dropping due to destruction of demand in the USA.
this has all been foretold and is merely a lower part of the plateau...

Re: Oil Prices dropping $4 dollars a day
 

I am quite interested in the 'Peak Oil' theory - can you point me at anything that goes over this? I have read a couple of things before and they never mentioned that prices would do this - and if I'm brutally honest that is something you would absolutely, crucially have to mention if supporting the theory, because otherwise it gives such a large amount of ammo to people who don't support it.

Re: Oil Prices dropping $4 dollars a day
 

Read this

nobody describes peak oil as theory anymore, where have you been?

Re: Oil Prices dropping $4 dollars a day
 

Interesting. I am not 100% committed to the 'popular' (at last check, e.g. the 'life after the oil crash' site) 'Peak Oil' theory. That is, that we will crash and basically go back to the Dark Ages.

If you take 'Peak Oil' theory as purely that - that there will be a peak when demand goes up, prices start to rise, and reservoirs start to deplete, then yes I believe that. It is but common sense to believe in this, much as it is common sense to believe that you will die, even if it still remains a theory.

So, in summary, I am not currently committed to some of the hype surrounding the effects of 'Peak Oil', that they will be as drastic and immediate as some believe. Why? Well one example that people who believe in the 'big bang Peak Oil' theory used to support their arguments was the recent massive price rises. However there is enough other evidence out there that causes me to at least doubt the argument, although not to fully disprove it - such as the fact that much of the rises were due to institutional investing in oil futures, thus pushing the price up.

From your tone it sounds like you are committed to the hyped version of 'Peak Oil'; previous posts on the matter would also suggest this; if that is correct then I am not agreeing with you - I agree only with the inevitability that there is a peak, and that its effects are far from known and very difficult to predict. Time will tell.

Re: Oil Prices dropping $4 dollars a day
 

the hyped version is the only way people will listen ;)

Re: Oil Prices dropping $4 dollars a day
 

Re: Oil Prices dropping $4 dollars a day
 

Rofl...!

It might be appropriate for the traditional Sun or Daily Mail reader, lol...for me, sensationalist stuff just puts me against it, because it's too OTT. It'll be interesting to see what happens, for sure - especially things like the chinese economy and its relationship with oil. The article you linked believes the chinese economy is strong enough, the question I still have is that China exports a lot of stuff cheaply. If oil goes up (ok, it already has) - and it is priced in dollars, not whatever the chinese currency is - then I would expect that china's economy and the value of its currency would need to rise. This would lower the value of its exports, maybe making it less attractive for exports.

Although the Far East is becoming more involved in other markets now, so it's a bit complicated...and exports may not be a big factor in future...