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OIL, Discussion
flower
post Posted: Feb 1 2014, 02:43 PM
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In Reply To: Alethia's post @ Feb 1 2014, 09:24 AM

QUOTE
I may be hanging around too many hotel lobbies and night clubs, but just lately I have been running into a lot of American and Canadian oil men.
Seems to me there is a quiet influx of Americans coming to search for oil in Australia.
Why is this so? Any thoughts?


Speaking for WA only----All major oil enterprises whether on or offshore are operated by US Giants, who now have expansive branch offices in Perth CBD.

As the exploration phase gives way to construction ending in production less local labour is required but much more input from headquarter staff of those majors is required, hence if you go into any big Perth hotel or talk to Perth limo drivers or observe the arrival lounge at Perth International airport you will see probably 20 or so of those Limo drivers waiting for the first/business class arrivals all day, more at major international flight arrival times, especially ex Dubai.

They don't get much rest since the very next morning it's off to Karratha sometimes at 4am, and a chopper flight to destination on Gorgon, Pluto and a myriad of associated sites.



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Said 'Thanks' for this post: Alethia  marketwinner  
 
Alethia
post Posted: Feb 1 2014, 09:58 AM
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In Reply To: pacestick's post @ Feb 1 2014, 09:45 AM

Could be. But why are they coming to Australia? All I hear is how America is the new oil giant. Exploration is going gang busters in USA. Why leave the rich easy pickings in USA and come to Australia. Like one of the guys said a simple maintenance job in America costs $400 to $500. It cost $4000 to $5000 in Australia. Why come to Australia.
Something more something else..




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The caterpillar does all the work but the butterfly gets all the publicity.
 
pacestick
post Posted: Feb 1 2014, 09:45 AM
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In Reply To: Alethia's post @ Feb 1 2014, 09:24 AM

The cooper may be atrcating overseas interest

 
Alethia
post Posted: Feb 1 2014, 09:24 AM
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I may be hanging around too many hotel lobbies and night clubs, but just lately I have been running into a lot of American and Canadian oil men.
Seems to me there is a quiet influx of Americans coming to search for oil in Australia.
Why is this so? Any thoughts?



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The caterpillar does all the work but the butterfly gets all the publicity.
 
marketwinner
post Posted: Jan 20 2014, 07:28 PM
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In Reply To: flower's post @ Jan 20 2014, 10:19 AM

I am talking about WTI. Large speculators reduced bullish bets on WTI in the week ended Jan.14.Long positions decreased, while so-called shorts climbed. BTW these are short term trends. We have to study bigger picture now. In the meantime gold rallied to six week high. I am bearish on both oil and gold. Different market players will analyse things in a different perspective depend on their experience, industry knowledge and availability of information. Everybody can make mistakes including experts. Kind regards.

My ideas are not a recommendation to either buy or sell any security, commodity or currency. Please do your own research prior to making any investment decisions.


 
flower
post Posted: Jan 20 2014, 10:19 AM
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In Reply To: marketwinner's post @ Jan 20 2014, 09:59 AM

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We could see era of lower oil prices below $100 in 2014 and 2015. My target is $80pb and below.


Are you talking about WTI or TAPIS oil prices?

Right now WTI is USD94.37, TAPIS USD114.75

To somewhat defeat your overall thesis would point out that OPEC figures released Friday night show that as the US December industrial production was up considerably whilst at the same time OPEC produced the least amount of oil since May 2011 in fact the December output was 20,000 barrels a day down on the November figures, at this stage USD80 for either WTI or TAPIS seem highly unlikely given the way the US is supposedly recovering from the GFC together with the bulk of world economies.








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marketwinner
post Posted: Jan 20 2014, 09:59 AM
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In Reply To: flower's post @ Jan 11 2014, 04:19 PM

I can remember when oil was trading over $135pb some analysts including experts predicted it could go to $200pb. If I am correct when airlines were struggling to carry out their business during period of higher oil prices one Airline spokesman in Europe said we can run our airline even if oil goes to $200pb.At that time I became very bearish and oil went down to below $50pb. Many including Airlines hedged their oil when they heard about oil price of $200pb. When oil tumbled below $50pb they had to make huge losses. Later it rebounded to $80pb. In addition there could be volatility in oil market time to time due to different factors. In the mean time both Iran and USA could produce more oil in 2014 and 2015. This time I became bearish on oil in 2013. Lower oil prices is very good for the global economy.Specially it could improve global purchasing power. We could see era of lower oil prices below $100 in 2014 and 2015. My target is $80pb and below.

My ideas are not a recommendation to either buy or sell any security, commodity or currency. Please do your own research prior to making any investment decisions.

 
flower
post Posted: Jan 11 2014, 04:19 PM
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WTI on the move upwards again?
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flower
post Posted: Dec 2 2013, 10:53 AM
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Might the US export oil produced from their shale deposits----and if they do--when? And what might the worldwide consequences be?

Seemingly that is not a realistic possibility for the next 20 years, enclosed a link that explains the possible worldwide ramifications of such a major event happening: (source: PWC)


http://www.google.com.au/url?sa=t&rct=....57155469,d.dGI



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Said 'Thanks' for this post: Alethia  
 
flower
post Posted: Nov 25 2013, 09:42 PM
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In Reply To: marketwinner's post @ Nov 25 2013, 07:59 PM

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We may see oil around $80pb next year. Even gold prices may go down further.USD will go to its second stage of bull journey. Both NZD and AUD will have sharp drop against USD from 2014 onwards. This new development is good for world economy. We may see faster recovery from 2015 onwards.

Actually Oil was in bear territory irrespective of Iran nuclear deal or not. Forget about oil


Wild assumptions, forget about oil?

Why? with Tapis within USD15 of post GFC highs, how can we --living in Australia forget about oil prices since Singapore is where we source our domestic oil consumption from.

If your assumption about the USD goes pear shaped, you might find even WTI making new highs.
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