Quote:
Originally Posted by jjshabado
I've seen you state 500% twice and 4x once ITT. Just wondering what math you're using for that because from your chart I see:
Sept 2002: $28.4
Sept 2014: $97.09
And of course the October 2014 price is going to be even lower.
And your use of 12 years is obviously just because its the date that best serves your purposes.
And what you're doing right now isn't best serving your own "no problem" purposes?
Yeah, your position might have some merit if this wasn't a short-term and very temporary dip in prices. Of course, if we were having this discussion in June, you wouldn't be quibbling over 300% vs. 500%, would you? It's only noteworthy for your spin because demand is crushed (for now) and price has dipped, just like it did at the end of 2008. Meanwhile, it's still blown way up since the North Sea began its death knell. Do you have a counter explanation for that, or are you going to argue that's just normal inflation?
It's annual average that matters here.
Quote:
Originally Posted by jjshabado
Any date less than 12 years significantly decreases the percentage increase and any date greater than 12 years barely changes the percentage increase.
Are you quite serious? I could have used numerous dates beyond 12 years that make it closer to a 1,000% increase in price ... Look again.
Quote:
Originally Posted by jjshabado
If you want to know why nobody takes you seriously its because you're disingenuous.
Meanwhile, I feel precisely the same about people like you. The difference being the verifiable data supports my argument, not yours.
Quote:
Originally Posted by jjshabado
Edit:
If I pick 14 years I see it hasn't even gone up by 3x.
If I pick 6 years I see the price hasn't changed at all!
If I pick 3 years I see the price has dropped 33%!
JFC... are we quibbling about time frame here? If I pick 25 years ago, Brent averaged $18. For the last full year of data, 2013, Brent averaged $108.
Wanna go back further? In 1970, the year U.S. production peaked, it was $9.75. That's, what, 1,100%??? I think I did you a favor by picking 500% ... I was just referencing a point in time when peak oil became undeniable and Bush League energy policy utterly confirmed it. ... The point here, semantics champion, is that the price of oil is WAY up since the glory days, meanwhile production volume has barely budged. At what point do you guys ever stop and wonder if that's a sustainable track for a world utterly dependent upon cheap crude?
So I'll go back to what I said, and use the relatively softer 500% claim: Shouldn't such an enormous increase in price lead to a big increase in supply? Because it hasn't. Oil companies aren't maintaining free cash flow, and are beginning to bail out, sell assets, and lose investment capital rather rapidly.
Want links? I've got tons.
Barring recession (which crushes demand and ALSO underscores my argument), price will go right back up. Try not to get too overconfident with this temporary dip. It's not a good sign at all.
Last edited by JiggsCasey; 10-21-2014 at 10:02 AM.