Recession just around the corner?

[Summitric]

rumblings on the internet news of oil going up to almost $200/bbl by summer.... opec rumored to want to push the kaboom button

 

[moyiesledhead]

rumblings on the internet news of oil going up to almost $200/bbl by summer.... opec rumored to want to push the kaboom button

That'll do it!

 

[moyiesledhead]

rumblings on the internet news of oil going up to almost $200/bbl by summer.... opec rumored to want to push the kaboom button

That'll do it!

 

[Bogger]

Eventually it will get there but not by summer, the big players will be privy to that info before the internet is and will prepare to ramp up accordingly.

If a guy has investment cash kicking around when the market finds the floor there will be buckets of money to be made.

If I had $24K to invest in early 2009 my picks would have grown to over $400K by early 2014... that's just $6000 in each of Ford, GE, Apple, and the big winner GM ($0.75/share feb 27-09 closed at $35.27 today) every time I log onto my shadow stock account I kick myself in the azz.

I'll be gambling a little bit in this next upturn.

rumblings on the internet news of oil going up to almost $200/bbl by summer.... opec rumored to want to push the kaboom button

 

[Grizzly4323]

Eventually it will get there but not by summer, the big players will be privy to that info before the internet is and will prepare to ramp up accordingly.

If a guy has investment cash kicking around when the market finds the floor there will be buckets of money to be made.

If I had $24K to invest in early 2009 my picks would have grown to over $400K by early 2014... that's just $6000 in each of Ford, GE, Apple, and the big winner GM ($0.75/share feb 27-09 closed at $35.27 today) every time I log onto my shadow stock account I kick myself in the azz.

I'll be gambling a little bit in this next upturn.

Be cautious, hindsight is 20/20!!

 

[Bogger]

I get that... but everyone knew those 4 weren't going anywhere but up..

Be cautious, hindsight is 20/20!!

 

[FernieHawk]

I get that... but everyone knew those 4 weren't going anywhere but up..

Thought the same about NORTEL stock...bought it at $8 after it was at $240, it was valued at one time as 1/3 the value of the entire TSE...went to zilch. I was a contractor at NORTEL for a bit and I thought they were to big to fail...oh well...I was wrong.

 

[pistoncontracting]

rumblings on the internet news of oil going up to almost $200/bbl by summer.... opec rumored to want to push the kaboom button

I'm curious what would logically cause it to rise to that, even in never never land, and so fast??

If I was in a power position, I would spread the same rumors. Get the masses thinking the bottom is here, and the future is bright. Get people panic buying all sorts of crap, with all sorts of borrowed money.

This is the first time in history that the world is producing crude oil faster then we can refine it. I won't disagree that oil might get to $200/bbl, maybe even by summer, BUT... the cost of everything else won't be far behind... everything of course, EXCEPT the value of currency.

 

[pistoncontracting]

If one digs deep enough, you can find out why our banks are not loaning so readily with the low interest rates.
They can't, and neither can any in the USA. They are however lending overseas.

The Canadian and American gov't printed massive amounts to 'save' the economy with QE. If the banks started reinvesting ALL that money they were given back into the North American economy, inflation would be through the roof, on a scale that most can't comprehend, let alone believe.

Added Edit
http://www.theguardian.com/commentisfree/2014/mar/18/truth-money-iou-bank-of-england-austerity

Some reading for those that are interested.

 

[gates559]

I'm curious what would logically cause it to rise to that, even in never never land, and so fast??

If I was in a power position, I would spread the same rumors. Get the masses thinking the bottom is here, and the future is bright. Get people panic buying all sorts of crap, with all sorts of borrowed money.

This is the first time in history that the world is producing crude oil faster then we can refine it. I won't disagree that oil might get to $200/bbl, maybe even by summer, BUT... the cost of everything else won't be far behind... everything of course, EXCEPT the value of currency.

I think this is exactly what will happen. It just the way it goes. Price moves steadily up than has a crash or pullback and continues to new highs.

I notice a lot of well sites coming under new ownership. Big guys are getting a lot bigger, Its a sale to them. Short term losses equals long term gains for those guys. What a great opportunity to buy out all the smaller competition.

 

[800HMX]

Oil won't be at $200 in the near future. Way too much over supply and it's getting worse. It will take many months to get the wells that have been recently drilled through the system. Capital programs are just starting to fall off. Right now it makes better "economic" sense to pay contract penalties (drilling rigs, production commitments) than it is to continue with activity. The price needs to recover to at least $70 before the Majors can even start saving for the next Capital program. I can't see any significant activity until at least Q4 but probably Q1 2016. The Majors are right now trying to figure out how to make it through this cycle.

 

[pistoncontracting]

The Majors are right now trying to figure out how to make it through this cycle.

Most, if not all majors are doing just fine. You can bet on that. Never before have they had so much cash.
Although tough to prove, it's almost as though they had vision of this happening the way the profits sored, but wasteful spending never really did. Wages never really went up either... come to think of it.

Where did all that money go that was printed, and given to the banks to lend out?? Why do you think the media/gov't have been making a bigger deal then normal of Corporations hiding money overseas, and not paying 'the fair share' of tax??
All that money that was printed never funneled through like it was supposed to, that is the reason why the list of billionaires is rapidly growing.

The only people trying to figure out how to make through are the same as always... the ones that make it all go round.

 

[lloydguy]

Most, if not all majors are doing just fine. You can bet on that. Never before have they had so much cash.
Although tough to prove, it's almost as though they had vision of this happening the way the profits sored, but wasteful spending never really did. Wages never really went up either... come to think of it.

Where did all that money go that was printed, and given to the banks to lend out?? Why do you think the media/gov't have been making a bigger deal then normal of Corporations hiding money overseas, and not paying 'the fair share' of tax??
All that money that was printed never funneled through like it was supposed to, that is the reason why the list of billionaires is rapidly growing.

The only people trying to figure out how to make through are the same as always... the ones that make it all go round.

That's right. 100%
"trying to figure out how they are going to make it through this cycle" is way wrong IMO. unless you are a little guy.
The big boy's club isn't typing with red ink.Your eating too many crayon's if you think they are.
My town is taking a hit,big time layoff's all over the place,while boy's in Calgary will prob. get another 50K bonus
for thinning their own herd as well as bleeding vendor's to death.
It's a dog eat dog world, the big dog's get bigger and richer the little one's get ran over.

 

[sumx54]

Weatherford just cut 5000 jobs and signals another 3000 to come. 14% of there work force.

 

[pistoncontracting]

Weatherford just cut 5000 jobs and signals another 3000 to come. 14% of there work force.

With all the those lay offs, companies must be gearing up for a busy Q4, and capitalize on that $200 dollar oil


It's a beautiful thing actually. Guys are going to be so desperate for a job when things do get rolling again, they won't even need to offer big wages to bring them back.

 

[Summiteer]

With all the those lay offs, companies must be gearing up for a busy Q4, and capitalize on that $200 dollar oil


It's a beautiful thing actually. Guys are going to be so desperate for a job when things do get rolling again, they won't even need to offer big wages to bring them back.

Beautiful unless you are one of those guys trying to feed your family.....

 

[Summiteer]

Most, if not all majors are doing just fine. You can bet on that. Never before have they had so much cash.
Although tough to prove, it's almost as though they had vision of this happening the way the profits sored, but wasteful spending never really did. Wages never really went up either... come to think of it.

Where did all that money go that was printed, and given to the banks to lend out?? Why do you think the media/gov't have been making a bigger deal then normal of Corporations hiding money overseas, and not paying 'the fair share' of tax??
All that money that was printed never funneled through like it was supposed to, that is the reason why the list of billionaires is rapidly growing.

The only people trying to figure out how to make through are the same as always... the ones that make it all go round.

All of the big Companies have been hoarding their cash for the past few years, to record levels... All those tax dollars that they were getting to "create jobs" went straight into overseas accounts.

 

[glacier mt lodge]

The sad thing is it effects all sides of the job force...not just the oil companies.....It goes right down to the bottom as there will not be as many people spending money.

 

[pistoncontracting]

All of the big Companies have been hoarding their cash for the past few years, to record levels... All those tax dollars that they were getting to "create jobs" went straight into overseas accounts.

Bingo

But if the rules and regs are designed by 'professionals', wouldn't they see this coming??

Or did they??

 

[pistoncontracting]

The sad thing is it effects all sides of the job force...not just the oil companies.....It goes right down to the bottom as there will not be as many people spending money.

Many, many moons ago, people stopped spending during hard times. Thats a tough problem to solve.

Being the smart people they are, the politicians came up with a fix. Tell people not to worry, the gov't is here to help you. Don't bother saving for anything, we have you covered. We'll take care of you in retirement with a pension plan. And you can plan on stopping earning money when your 65, we've got your back.
AND, don't worry about all those fees from Credit Cards. We'll force them to lower interest so you can borrow even MORE money.
AND then, we'll encourage banks to lower interest rates to lend even more, you know for everything, from TV's at Walmart, to houses that you can't afford.
AND then, we'll tell everyone they are entitled to all the comforts of life, even if they can't afford it and borrow even more.

And then, at the end of it all, we'll have everyone on an even field. Everyone, except for the top of course.

I said beautiful, because places like Cuba, NK and the like needed to force citizens into it and here we are, merrily walking hand in hand down the path.

The sad part is how hard our fore Fathers fought to prevent **** like this happening.