A Quote by Jeff Rubin
We're in a world of triple-digit oil prices for the foreseeable future.
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High prices can be the result of speculation, and maybe plunging prices can be attributed to the end of speculation, but low prices over time aren't caused by speculation. That's oversupply, mainly by Saudi Arabia flooding the market with low-priced oil to discourage rival oil producers, whether it's Russian oil or American fracking.
Saudi Arabian oil production is at or very near its peak sustainable volume (if it did not, in fact peak almost 25 years ago), and is likely to go into decline in the very foreseeable future. There is only a small probability that Saudi Arabia will ever deliver the quantities of petroleum that are assigned to it in all the major forecasts of world oil production and consumption.
Lower oil prices won't, by themselves, topple the mullahs in Iran. But it's significant that, historically, when oil prices have been low, Iranian reformers have been ascendant and radicals relatively subdued, and vice versa when prices have been high.
It costs governments money to keep fuel prices low. Oil-rich Yemen, for instance, devotes 9 percent of its GDP to making sure its people don't riot when oil prices rise.
For the foreseeable future, we're going to need oil products because I don't like the idea of hydrogen cars. I'm not sure I want to be cruising around a mall parking lot filled with a thousand mini-Hindenburgs.
What's new is high oil prices and the economy hates high oil prices.
Even if we were to sign peace today, the economic conditions in our country would not improve automatically because it will take some time to reach the level of oil production before the war and the oil prices are likely to remain low for some time as the supply of oil in the world is high and demand is low.
There is enough oil out there for world demand. It is true that a lot of what's driving oil prices up right now is not the lack of supply. There's enough supply.
The past is always triple-A. We can all remember what the past was. But if we try to make the future triple-A, we have no future. The future is always single-B.
I don't think anyone can speculate what will happen with respect to oil prices and gas prices because they are set on the global economy.
You know, oil prices from 2007, on the strength of a very robust global economy and a very robust emerging China, many of you will recall, ramped up to near $150 a barrel. Then we had the financial - U.S. financial collapse. Oil prices collapsed all the way down to $40 a barrel.
Oil prices have certainly become a threat for the world economy.
For a long time, the film business was a single-digit business on investment return. Now, because of home video, it's a low double-digit business, and the studios want to make sure it doesn't go back into the single-digit business.
This morning, prompted by increasing concerns about terrorism, oil prices reached a record high as the cost of a barrel of crude is a whopping $44.34. Wow, it seems shocking that a product of finite supply gets more expensive the more we use it. Now the terror alert means higher oil prices, which oddly enough means higher profits for oil companies giving them more money to give to politicians whose policies may favor the oil companies such as raising the terror alert level. As Simba once told us: "It's the circle of life."
What I'm most excited about is the future of human spaceflight and the fact that this is going to be the future; this is what we're going to do for the foreseeable future.
The rise in world oil prices has been larger than anyone forecast.
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