Oil may hit $185 a barrel.

[Thaidup]

The prices at the pump in Thailand are already back to and above what they were 4 years ago, Now a JP Morgan analyst has suggested that Oil prices will only get higher.

 

https://www.bloomberg.com/news/articles/2022-03-03/jpmorgan-says-185-oil-in-view-if-russian-supply-hit-persists

[Cabra]

It was $147 in 2008... Adjusted for inflation that's $190 in 2022

[AdvocatusDiaboli]

22 hours ago, Cabra said:

was $147 in 2008... Adjusted for inflation that's $190 in 2022

Or worse yet it was $127 in 1980 …… Adjusted for inflation that’s $433 in2022 !!! , still a ways off.

[Thaidup]

Adjusting for inflation in the last year means that it's cheaper. LOL.

But wages are falling way behind inflation..

Anyway here is a good website to track the prices.

https://oilprice.com/oil-price-charts/

 

[Thaidup]

On 3/7/2022 at 11:39 AM, AdvocatusDiaboli said:

Or worse yet it was $127 in 1980 …… Adjusted for inflation that’s $433 in2022 !!! , still a ways off.

I can remember that, I had a Holden Torana  LC GTR XU-1,  16 gallon fuel tank it went up to 30cents a liter. and my pay was take home $70 a week.

[ThailandBob]

If you've been following trends in the US, used cars have been commanding ridiculous, over-MSRP prices. When I sold my 2018 Range Rover in June last year, I got $50K for it. It was 3 years old and had 20K miles on it. I paid $52K for it new.

I'm gonna guess that if petrol prices continue to rise, the used car bubble will start to burst, a least for 6- and 8-cylinder models.

[Thaidup]

Let's take a balanced view, say now its pretty sure it can hit $140-150, they say $300 if Russian oil is banned, so average that out, = $220-225 a barrel if Russian oil is sanctioned.

https://edition.cnn.com/2022/03/08/business/oil-price-russia-warning/index.html

But there is a hail marry in all of this, if the USA could simply ramp up production and get back on track as Elon Musk  is sain "Hate to say it, but we need to increase oil & gas output immediately". my opinion is "YEAH C'mon merca drill baby drill".

Edited March 9, 2022 by Thaidup

[Thaidup]

Oh what a difference a new President can make. Remember this?  It's just under 2 years ago, back when someone was awake in the Oval Office, LMAO.

The funniest part is the news organization badgering him buy saying "downplays" f***ing LOL. It was short term wasn't it, tell me whenever he has been wrong. Fairdinkum. Im sorry I can't stop laughing, even though Biden is making me pay for it.

Edited March 18, 2022 by Thaidup

[Sparktrader]

On 3/9/2022 at 12:55 AM, Thaidup said:

Let's take a balanced view, say now its pretty sure it can hit $140-150, they say $300 if Russian oil is banned, so average that out, = $220-225 a barrel if Russian oil is sanctioned.

Even $300 wouldn't be as bad as the 70-80s oil crisis (adjusted to inflation the peak would be $464 of today's money).

But I think we will stay far from those numbers. As the conflict in Ukraine will be solved sooner or later, and I have a feeling the worst has passed already.

[Thaidup]

15 minutes ago, Sparktrader said:

But I think we will stay far from those numbers. As the conflict in Ukraine will be solved sooner or later, and I have a feeling the worst has passed already

I hope so too, and I am optimistic for talks.

I don't know how I came across that video from The Guardian "Trump downplays historic oil price drop as short term" but I kid you not, I almost pissed myself laughing and had to post it.

Im going over to facebook now to rub it some noses.

[Rainmaker]

I think this was a excellent point that I read a comment and this news media Joe Rogan said this. 
They set a precedent and that precedent is you can stifle information that makes you uncomfortable, you can stifle discussions where people have points of view that you don't agree with. And you think you're right. So you think you should be able to stop those points of view. That is not the way to do it," Rogan said. "It's never been the way to do it. It's a dangerous precedent to set because then when more power is acquired by whoever, whether it's social media companies or the government or whoever the f--- it is, they get to establish narrative and that narrative might not be honest. That's a real problem. And the only way to find out what's real and what's not real, is to let people talk."

[Rainmaker]

Get ready for higher prices and then Thai’s will have to start cooking with wood and charcoal since Natural Gas will be so expensive 

 

 

Saudi Arabia said Monday that it will not accept blame for any international oil shortages after multiple Saudi facilities were targeted over the weekend by Yemen's Iran-backed Houthi rebels.

The Saudi Press Agency cited an official, unnamed source in the kingdom's Ministry of Foreign Affairs in relaying a statement that the world's largest oil exporter "will not incur any responsibility for any shortage in oil supplies to global markets in light of the attacks."

 

[Thaidup]

19 hours ago, Rainmaker said:

Get ready for higher prices and then Thai’s will have to start cooking with wood and charcoal since Natural Gas will be so expensive 

The one thing I love about living "upcountry" Thailand is the fact that we never really depend on electricity to live, sure it makes everything comfortable and being able to put meat in the fridge or freezer is convenient, but we can buy fresh meat at any one of dozens of local markets each other day of the week.

The charcoal is abundant up here, We enjoy using it to cook in those little kettle ceramic bbq's and the marinated moo tastes delicious,

I filled up the dmax today for Justin was 30.59 baht/litre

The main thing is that Thailand's power supply is mostly Lignite, trees and solar, so we should be ok.

[Thaidup]

On 3/19/2022 at 3:20 AM, Thaidup said:

Oh what a difference a new President can make. Remember this?  It's just under 2 years ago, back when someone was awake in the Oval Office, LMAO.

The funniest part is the news organization badgering him buy saying "downplays" f***ing LOL. It was short term wasn't it, tell me whenever he has been wrong. Fairdinkum. Im sorry I can't stop laughing, even though Biden is making me pay for it.

Here is a contrasting view, with the current situation in mind, You tell me what one comes across as having the situation under control? To me, the guy in the second video seems to be completely unaware of the shit about to hit the fan. FFS, it's only going to get worse the longer sleepy is in office. in my opinion.

 

[Thaidup]

I made a funny comment about how the prices are going up in a different thread and joked about us all turning into robots and then we can eat the electricity.

Now this comes out in the news.

 

Elon Musk plans to open 24-hour Tesla restaurant in Hollywood

https://finance.yahoo.com/video/elon-musk-plans-open-24-211112557.html