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The Forum > Article Comments > Don't hold your breath for deeper OPEC cuts > Comments

Don't hold your breath for deeper OPEC cuts : Comments

By Nicholas Cunningham, published 7/7/2017

The rally in oil prices over the past two weeks came to a halt on Wednesday on news that OPEC is actually exporting more oil than previously thought.

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Good call Nick, and the rise in exports is just part of the problem for cash strapped futures traders, with much of the Saudi exports now leaving as refined fuel products! Consequently not showing up as numbers in the crude market, but impacting on it as reduced demand anyway!

As will the one million affordable (17 thou) electric cars about to hit chinese streets and the export market just this year alone, with increased production to follow next year and the year after that!

The smart money has already deserted coal and is looking for alternatives like cheaper than coal thorium.

Thorium is the most energy dense material on the planet and abundant! Why there is enough in garden common dirt to power the planet for 1,000 years. And thousands more if we mine igneous rock!

Why just 8 grams could potentially power my (laser activated) thorium powered car for 100 years without refueling! Imagine what that would do to the oil market?

Little wonder some of the producers are extracting as much as they can now, given in just 15 or so years the heady days of liquid gold every boy and his dog wanted could well be over? And good riddance!

Simply put, one cannot have record breaking heat waves and droughts during a cyclical solar waning period, just a significantly cooler period and advancing ice, not the very opposite!

Let's hope sanity prevails and manmade climate (fossil fueled) change is well and truly in reverse gear, before the sun goes, as it surely will, just as surely as it rises in the east, into a cyclical waxing phase!

Otherwise, we just might get into a competition with Venus, also in the (habitable) goldilocks zone for the title of the hottest planet in the solar system?

What of oil futures then? Or profit curves etc/etc!?
Alan B.
Posted by Alan B., Friday, 7 July 2017 10:44:12 AM
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