Traders go short on Lloyds

[sasguru]

Top ten oil producing countries (bar 1) are relatively stable countries.

There have been some HUGE oil fields discovered and Brazil will become the biggest producer of oil in the world soon. Not exactly Iraq is it.

The supply of oil is growing. Angola have also found a huge oil reserve.

Demand is not rising. Yet the price has gone from $40 to $80 in a matter of a few months.

Do the math. Oil prices are not being driven by peak oil or demand.

Even Atw can see that.

Do the math? Are you a yank? You sound as stupid as one.

Stop being so cretinous and refer to AtW's chart.

It is clear that the oil price spikes when there is political turmoil.

Look at clear spikes:

1. Yom Kippur War
2. Iran-Iraq war
3. 9-11

Irrelevant who the biggest producers are or where.

[sasguru]

I can't even be bothered arguing with snaw.


Wibble!

Said like a true loser.

L

[DimPrawn]

Do the math? Are you a yank? You sound as stupid as one.

Stop being so cretinous and refer to AtW's chart.

It is clear that the oil price spikes when there is political turmoil.

Look at clear spikes:

1. Yom Kippur War
2. Iran-Iraq war
3. 9-11

Irrelevant who the biggest producers are or where.

So the current jump from $40 to $80 (that's double I know you find it hard) is due to which war that has started in the last few months?

[DimPrawn]

Which conflict is it snaw/sasguru?

Or is them Chinese again? Damn their eyes!



L

[Sysman]

Yep, that's a graph on production. Clearly Iran and Iraq aren't producing much these days, which has an impact on oil price.

Reserves on the other hand ...

http://en.wikipedia.org/wiki/Oil_res...roved_reserves

I refer the honorable gentleman to the bottom of that page, on reserves

Saudi Arabia 267 42.4 10.2 1,620 72
Canada 179 28.5 3.3 520 149
Iran 138 21.9 4.0 640 95
Iraq 115 18.3 2.1 330 150
Kuwait 104 16.5 2.6 410 110
United Arab Emirates 98 15.6 2.9 460 93
Venezuela 87 13.8 2.7 430 88
Russia 60 9.5 9.9 1,570 17
Libya 41 6.5 1.7 270 66
Nigeria 36 5.7 2.4 380 41
Kazakhstan 30 4.8 1.4 220 59
United States 21 3.3 7.5 1,190 8
China 16 2.5 3.9 620 11
Qatar 15 2.4 0.9 140 46
Algeria 12 1.9 2.2 350 15
Brazil 12 1.9 2.3 370 14
Mexico 12 1.9 3.5 560 9
Total of top seventeen reserves 1,243 197.6 63.5 10,100 54

Game, set, match.

That table is better viewed with the headings.

The US has the lowest estimated reserve life there, of only 8 years.

[sasguru]

So the current jump from $40 to $80 (that's double I know you find it hard) is due to which war that has started in the last few months?

You've always had a problem with short-term versus long-term haven't you?



Look again at AtW's graph. Even you can see the clear impication.

The oil price spiked after 9-11 and only fell with the global recession.

The recent rise probably indicates an upsurge in demand again.

Stick to dreaming and signing on. Leave data analysis to the experts.

HTH

[DimPrawn]

You've always had a problem with short-term versus long-term haven't you?



Look again at AtW's graph. Even you can see the clear impication.

The oil price spiked after 9-11 and only fell with the global recession.

The recent rise probably indicates an upsurge in demand again.

Stick to dreaming and signing on. Leave data analysis to the experts.

HTH

What happened after 9-11? The central bank of America flooded the world with cheap money and slashed interest rates.

What does a cheap dollar do to the price of oil (priced in dollars).

Oh no, it was a war wot done it.

Or maybe the Chinese all switched their central heating on.

[sasguru]

What happened after 9-11? The central bank of America flooded the world with cheap money and slashed interest rates.

What does a cheap dollar do to the price of oil (priced in dollars).

Oh no, it was a war wot done it.

And what about the last spike in the 70s caused by the Iranian Revolution?
Did the US flood the world with cheap money and slash interest rates then?

No, Dim by nature, interest rates were actually at record levels in the 70s, the dollar was the only global currency.

Funny how any instability in the Middle East leads to a spike, eh?

I suppose everyone can see that but you.

[AtW]

And it had nothing to do with consumption or instability in oil producing regions?

BTW How log did it drop to $10 for? cause the graphs I'm looking at barrel show it go below $20 ... and the average for both years is $20 ...

It did not drop to $10 for long, that was RECESSION at the time - Asia hit and Russia: that's the levels we should be seeing now in a much bigger WORLD recession but we don't see them.

Look at chart again - oil was $20 during from early 80s to end of 90s, that's when Asia was seriously developing, where is spike? The oil went up after stupid war in Iraq started, this coincides with weaker dollar (too much borrowing), and too many people have access to trading terminals - "get rich quick" and all that.

[AtW]

And what about the last spike in the 70s caused by the Iranian Revolution?

It was caused by OPECs boycott of the West due to their help to Israel.