Predictions for 2015

[chrisgoh]

Interesting read:

1. North Pole, but How Much Oil and Gas Await?

2. Electric car company Tesla Motors will allow competitors to use its patents

3. Toyota kickstarting fuel cell future with patent release

[eri]

yup

the analysts

are telling them cheap oil

may kill their car patents

anyone for a v8 ute?

love that burble

does more than for me

than a greenie whine

[Wayne]

I meant more speculating electronically rather than stock piling. The fact is we will run out. The unknown is whether that is in 20 years or a thousand I guess.
The non conspiracist researchers give us no more than 50 years.

Was that before or after shale oil came heavily into the picture?

[Wayne]

cheap oilmay kill their car patents

Or maybe being the only one to produce something doesn't create the infrastructure needed for it to be a success.
You need to hit a critical mass for it to be a success.
VHS v's Beta lessons learnt maybe.

[Wayne]

Another added internal pressure for Putin.

Russian mortgage holders slammed by ruble plunge

There have been a few threads over the years about NZ'ers using foriegn currency loans for local houses - this highlights the risk that is always present.

[speights boy]

^ Sure Wayne, I understand that.
The reason for the post was regarding politics, not finance.

[speights boy]

The US will surprise on the upside.

Trade, employment data boost U.S. economy's fundamentals

(Reuters) - The U.S. trade deficit fell to an 11-month low in November as declining crude oil prices curbed the import bill, prompting economists to sharply raise their growth estimates for fourth-quarter growth.

The economy's resilience despite slowing global growth was also underscored by other data on Wednesday showing private employers stepped up hiring last month.

"The fourth quarter is shaping up to be much better than we had anticipated," said Ryan Sweet, a senior economist at Moody’s Analytics in West Chester Pennsylvania.

"The fundamentals for the U.S. are rock solid and the economy will grow quickly this year even if the rest of the world stumbles along."

http://www.reuters.com/article/2015/01/07/us-usa-trade-deficit-idUSKBN0KG1AZ20150107

[spaceman]

I meant more speculating electronically rather than stock piling. The fact is we will run out. The unknown is whether that is in 20 years or a thousand I guess.
The non conspiracist researchers give us no more than 50 years.

We wont necessarily run out.

Oil is incredibly cheap so there is no incentive to wean ourselves off of it ......don't believe me....go to your local gas station liter of petrol and a bottle of water and get back to me on which cost more.

As oil increases in prices other technologies will become more viable...lets face it if gas was $10 a liter we'd see a lot more electric, hydrogen & bio-diesel cars on the road.

Cheers
Spaceman

[Damap]

Well we will run out or could run out. It is a finite resource. Every year we consume over 11 billion tonnes of oil in fossil fuels. Crude oil reserves are vanishing at the rate of 4 billion tonnes a year so if we have zero population growth we should run out of known reserves by 2050. And the drop in prices makes getting it out of the ground less viable also.
I watched a great doco recently that went to the earlier oil kingdoms of the modern world. They are all completely dry now. i am not scare mongering I just think it's interesting to see what happens. We will develop alternatives but based on normal supply demand curves we should see oil go ballistic as it actually starts to run low as it will take years to develop viable alternatives. Almost all alternatives are unsustainable at volume so we will need new technology. This iswhere wars and space travel may help us to find our warp drives and dilithium :-)

[Perry]

I watched a great doco recently that went to the earlier oil kingdoms
of the modern world. They are all completely dry now.

Any places / names you can recall?

[chrisgoh]

If you have some spare cash to bet on oil...

http://www.bloomberg.com/news/2015-01-07/oil-investors-pour-most-money-into-funds-in-4-years.html

[Damap]

Perry one was in Venezuela and another was in the USA. I'll try to find the link to the doco.

[Damap]

Youtube it is called A crude awakening. Not conspiracy theorist very good watching

[eri]

chavez

nationalised

and wrecked

venezuala's oil industry

not peak oil

Experts reported that systematic underinvestment in the Venezuelan oil industry caused the August 2012 explosion at Amuay; Hugo Chávez called these reports "irresponsible".[28][29]The "string of accidents, outages and unplanned stoppages" then continued with a fire started by lightning at the El Palito refinery a month later.[30]

[Damap]

You've lost me Eri. I was talking about oil fields now run dry. That doco talks about some of them.