Peeps, can you actually execute these trades from your bunker? Does your tin foil hat interfere with the wireless signal?
This guy just wanted to be able to pull out a printout in 25 years and say remember when oil was $100 a barrel instead of there being 100 barrels left.
the guy was at the Nyme to make the trade. He'll probably sell the contract receipt he gets from Nymex on Ebay for more than 600 though. So it really doesn't matter to him now does it?
right right. the end of the article points to reasons why oil is $100 dollars a barrel now and mentions one reason as lack of investors interest.
is that a good thing?? if it is what i think it is, then great. what do i think it is?
perhaps there is a growing group of people in the world who say they don't want their money going towards oil ventures. sounds good to me. bring on the streamlining of automobile efficiency standards and initial subsidized home improvement options which make households and businesses more efficient places- alternative heaters/ac, better windows, insulation plans, etc etc. just an idea.
someday oil will be obsolete.
There will always be a cheap source of energy for about 500 million people-
its the rest that are going to have to do the expensive work. Thankfully most of you and me are in that top 8% or so of the world pecking order. even as oil peaks it will still be there in large quantities (just go back to 1985 levels). After oil, we'll have coal, after that nuclear, and maybe after that the high return renewables. For poor people, its going to hurt badly.