Long term OIL

[bryant.coleman]

Oil is in the hands of few corporations who hides behind US government!
Us government is in service of few families who owns 90% of whole world!
They controlling every aspect of living today not only price of oil!

The corporations will lose their profits and the ordinary Americans will lose their jobs. That is how low oil prices are going to affect the United States. Also, remember that the price of crude locally produced in the United States is much lower than that of the Brent Crude. The WTI is trading at sub-30 levels, when Brent prices are fluctuating between $32-33. The prices of extreme low quality crude in the US is nearing $0. For example, the North Dakota Sour is trading at $1.50 per barrel right now.

[deisik]

The corporations will lose their profits and the ordinary Americans will lose their jobs. That is how low oil prices are going to affect the United States. Also, remember that the price of crude locally produced in the United States is much lower than that of the Brent Crude. The WTI is trading at sub-30 levels, when Brent prices are fluctuating between $32-33. The prices of extreme low quality crude in the US is nearing $0. For example, the North Dakota Sour is trading at $1.50 per barrel right now.

I guess you are confusing contracts of different months, since recently the prices of Brent and WTI blends of oil were virtually the same. At least, after the US Congress lifted the ban on exporting the US crude oil...

Hint, you should look at the spot prices

[arbitrage]

Price will go down in next few months!.
But don't be surprised when recovers very fast ..Again ordinary people will suffer the most.

[afriezalie]

There are some factors which have made oil price fall down to $30. There are many go green technology developments which avoid to use oil and switch to alternative energy. Also there are some political problems out of there. Oil price is affected by political problems especially in oil producer country. Right now oil price won't back to normal price again in short term, but I hear a good news. OPEC have predicted that  oil price would increasing to $70 in 2020.

[expert4knowledge]

Price will go down in next few months!.
But don't be surprised when recovers very fast ..Again ordinary people will suffer the most.

I think the prices will not decrease much more but I agree with the fast rise of prices.

[ingiltere]

Oil prices are going down every day but petrol raises. Government try so hard to rob their citizens. Oil went down 1 of 3 prices but at the same time petrol prices go up %60. That means government take more tax every day, these lower oil prices don't affect regular people.

[MoneyChanger]

Oil prices are going down every day but petrol raises. Government try so hard to rob their citizens. Oil went down 1 of 3 prices but at the same time petrol prices go up %60. That means government take more tax every day, these lower oil prices don't affect regular people.

Every government robbing its citizens through hidden inflation and deflation.
Not to mention oil excise tax!

[foggyb]

How oil price can influence Bitcoin price?
Easy through electricity. Electricity will go down and price of mining will be little cheaper. Cheaper block will influence more hashrate! BTC price will increase!
My opinion.

Price will actually go down because more hashrate increases the supply with increase driving the price down.

the halving is there for this reason, to reduce the pressure from the miners, which with their margin i don't believe is very high, they ar enot selling 3600 coins per day

and it's the price that drive the diff up not the opposite

Yup.  The more hashrate is added to the network the faster the difficulty increases, leading to miners quitting, then the cycle repeats. The block chain rules regulate the rate of inflation constantly, so the price should never be effected by difficulty,  except in an irrational way.  Such price affects should be short-lived.

[arbitrage]

Every instability causing unrest in people's hearts..
Oil price decreasing scare people , they can lose their jobs, many people are in oil industry!
That can bring more problems to bitcoin.

[mrflibblehat]

Oil is so hard to store. We probably won't live long enough to see its reserves depleted. What if in the next 20 years people switch to electric cars? What about fuel made of rape oil and similar stuff?

People already switched to electric.
The only reason why I don't have an electric car yet is because I can't afford one but if I could it would be the first thing. It's absurd when you think how superior electric cars are.

[Barnabe]

Oil is so hard to store. We probably won't live long enough to see its reserves depleted. What if in the next 20 years people switch to electric cars? What about fuel made of rape oil and similar stuff?

People already switched to electric.
The only reason why I don't have an electric car yet is because I can't afford one but if I could it would be the first thing. It's absurd when you think how superior electric cars are.

Electricity is harder to store.
But the main problem with electric cars is that people using them are not able to use them for hundreds of kilometers like petrol cars. Even if most people don't need it, it's still a huge psychological barrier.
Hydrogen would fix that, but then we would need huge hydrogen "factories".

Try to buy a hybrid  You get the best from the two !

[arbitrage]

First electric car was produced long time ago , but oil producers have done everything
to ruin this idea..Today also they are trying to stop every competition they have!
https://en.wikipedia.org/wiki/History_of_the_electric_vehicle

[romero121]

Price will go down in next few months!.
But don't be surprised when recovers very fast ..Again ordinary people will suffer the most.

I think the prices will not decrease much more but I agree with the fast rise of prices.

Prices are expected to fall even less as there are surplus of oil in the market after the ban over afghanistan was released few days back. This made oil price fall and to grab the market even reducing the price.

[Barnabe]

First electric car was produced long time ago , but oil producers have done everything
to ruin this idea..Today also they are trying to stop every competition they have!
https://en.wikipedia.org/wiki/History_of_the_electric_vehicle

I think it's more due to the fact that petrol cars were more efficient in their day to day use (after the technology was truly mature) . You can "recharge it" in more places and quicker.
But it's also because Oil was easy to get.
Electricity had to be made from other sources and required more investments (more expensive).

[arbitrage]

Problem is not car or technology. For what will be used oil for?
This business could easily go to oblivion, i don't think they will let this happen!
Technology was there all the time!
https://www.youtube.com/watch?v=h85IT8hadyk

[Barnabe]

Problem is not car or technology. For what will be used oil for?
This business could easily go to oblivion, i don't think they will let this happen!
Technology was there all the time!
https://www.youtube.com/watch?v=h85IT8hadyk

I don't agree.
Batteries are much better now (more power density, no-memory effects, better controlers), same thing with electric engines (reliable and efficient brushless engines for instance).
Electric cars are only beginning to be on par with petrol cars that's why their sales took so long to take off.

[oblomov]

The long-term price trend of all commodities, including oil, is down.

The secular trend in oil prices is down, just as the secular trend in equity prices is up. 

Extraction & production technology improves over time.

Increased automation means that the labor units required per unit of production will decrease.

Of course, in the near term oil prices could easily spike up to 180 given supply constraints.

[expert4knowledge]

The long-term price trend of all commodities, including oil, is down.

The secular trend in oil prices is down, just as the secular trend in equity prices is up. 

Extraction & production technology improves over time.

Increased automation means that the labor units required per unit of production will decrease.

Of course, in the near term oil prices could easily spike up to 180 given supply constraints.

It is correct that supplies are limited, however the advancement of technology is another important criterion on price of oil that affects on its demand and you must take into consideration.

[gkv9]

The long-term price trend of all commodities, including oil, is down.

The secular trend in oil prices is down, just as the secular trend in equity prices is up. 

Extraction & production technology improves over time.

Increased automation means that the labor units required per unit of production will decrease.

Of course, in the near term oil prices could easily spike up to 180 given supply constraints.

It is correct that supplies are limited, however the advancement of technology is another important criterion on price of oil that affects on its demand and you must take into consideration.

But if lesser supply and more demand is there, the price should "increase" instead of "decreasing"...
And I don't get that when the prices have dropped down so drastically, then why don't we get Oil-based products such as Petrol & Diesel for cheaper???

[Barnabe]

The long-term price trend of all commodities, including oil, is down.

The secular trend in oil prices is down, just as the secular trend in equity prices is up. 

Extraction & production technology improves over time.

Increased automation means that the labor units required per unit of production will decrease.

Of course, in the near term oil prices could easily spike up to 180 given supply constraints.

Labor and its price is almost negligeable for Oil, the most important parameters are the exploration and extraction investments required (drillings and infrastructure)