This week we will be launching our newest promotion:

Crude Oil Prices: Reasonable or Ridiculous?

We will be posting relevant news articles and starting shares so that you, our members can voice your opinion. Look out for extra MVP on some Hot Topics. 

Post your opinion and Win!

Please do read our rules, and keep all posts relevant to the topic, only posting when it is adding value to the conversation. 
 

1)      "Members of the Week" are automatically decided by which member has achieved the most Member Value Points during the promotional period. Members are encouraged to refrain from giving one word/one symbol responses – please only respond if you are contributing to the topic. Look out for topics which have extra MVP's available


2)      The promotion will run from Wednsday  28th November 2007 to Friday 5th December 2007


3)      Users are reminded that they should refrain from becoming engaged in political debate, in according with the Posting Rules.


4)      Entry is free. All members who are active on the forums during the promotional period are automatically entered into the competition. 
 

5)    The prizes on offer will be announced after the promotion has started.

Notification of winners:
Winners will be announced on the website and notified by e-mail within [five (5)] business days of promotional period ending.

We will be posting relevant news articles and starting shares so that you, our members can voice your opinion. Look out for extra MVP on some Hot Topics.  

Replying to [Admin]:

It's a good news which can encourage us more active in the forum. Post and win the MVPs is an exciting news. Do support!

Peter Zhou

Replying to [Admin]:great step to move forward....

Replying to [Admin]:

Price based on the theory of Supply and Demand.

According to surveys, the estimated original recoverable oil in the earth as 2,330 billion barrels. A recent study by Colin Campbell indicates that 90% has been discovered and 50% has been produced.

The world consumes 4 barrels of its reserves for every new barrel discovered. That means the consumption is 22 Gb/year to only 6 Gb being discovered, which leads to the current depletion of 2.2% per year. The gap is moving from surplus reserves to deficit, in 2050. The survey was taken in 1999, which did not include China and India to be the upcoming oil consumer. Adding these two countries, the date for the last drop of oil coming out of the well could be even shorter.

Other factors are not taken into consideration for the survey; factors such as oil spills, wars and natural disasters such as earthquakes and plates movements.

In short, we are running out of the Black Gold, that once was abundant, and the time is hastening. This is the main cause of the rising crude oil price. However, some psychological, political, man-made or natural disasters and greed factor may cause the price to shoot off its peak, instead of a gradual rise.




Source: http://www.mbendi.co.za/indy/oilg/p0005.htm


http://www.oilcrisis.com/laherrere/Petrotech090103.pdf

Street Smart

Replying to [Admin]:

Replying to [Admin]:
Landmarks of oil prices over the two decades.

1983, April 7, $30.17 to the $30 level.
1990, Oct. 9, $40.40 to the $40 level.
2004, Oct. 1, $50.12 to the $50 level
2005, Jun. 27, $60.54 to the $60 level
2006, April 17, $70.14 to the $70 level
2007, Sept. 13, $80.09 to the $80 level
2007, Oct. 25, $90.46 to the $90 level peaks at $95 per barrel.

All references are in US Dollars, and price per barrel.
Acts of man - war.

Factors affecting the price of Crude Oil throughout the history from 1973 onwards.

• 1973 - Yom Kippo war in the middle east gave rise to the Crude Oil prices breaking the $20 per barrel benchmark for the first time, when OPEC decided to use Oil as a weapon against their enemies.


• 2004 Spring, Sadam Hussain invaded Kuwait, caused the Oil price to break the $40 barrier.

Nation-wide labour unrest, and strikes caused disruption of crude oil supplies from South America.

• Political:
  Iran has threatened to use Oil as weapon to counter the threats of the US and EU on her nuclear program.


• Disasters:
  Mexico Oil Platform fire cuts 422 bpd oil output.
• Shell Oil sands unit fire cuts off the supply of oil from Nov 20, 2007
.
• Hurricane storms in the Gulf of Mexico disrupt supplies from the offshore stations.



• Increased Demands
  The awaken Asian Dragons, mainly China and India industrial revolution and uprising economy create the m with affordable access to motor vehicles, air travels and central home heating during the cold winter, put a tremendous strain on the supply chain.

The Crude Oil Price chart below, shows the increase over the decade. There are two increases in 2007, one in September 13, and one in October 25. In the previous decade, the rise was over 7 years, 4 and once every year from 2004 to 2006.



Reference: http://www.wtrg.com/prices.htm



Street Smart

Replying to [Admin]:
Raising the price of oil will raise the price of evrything because everything ,all items ,all materials are transported by means of transport of course use one of the drevatives of oil.Sometimes one item is carries 2 or 3 times .that means the price of an item will increase three times.It is madness.

Replying to [darkfox133]:

There is a 'domino effect' to the supply chain, where one affects the other and it comes back after full cycle.

Oil energy resource has become an indispensable part of our life, and it will be here to stay for some time, until it runs out or when the alternative source of power or substitutes replace it.

Joyce

Replying to [Admin]:I would be more than glad to post the news

Replying to [Street Smart]:you are a knowledge man in some suggestions the crude oil price is reseanable i think my msn is lidongli0801@hotmail.com wish your comunications

Replying to [rose Li]:

It is our business in the Oil and Gas Energy Shipping industry. All we did is to search the Internet for information and gather the salient points pertinent to the subject, link the graphics or capture it and paste it up in Photobucket and link it. It is all the works of these guys who provide the info, give thanks to them.

However, Admin promises rewards for those who participate fervently in this discussion, and we hope the rewards to be tangible and substantial, not just MVPs, but maybe free Trust Pass Memberships, like those given to the Indian Forum.

Well, we hope to learn from each other and to be able to contribute from our line of expertise our knowledge of the market and the trade. We are dealing with Crude Oil Tankers and this trade is our bread and butter.

Street Smart