Long term OIL

[Fesatmas]

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???

In my country, most of the petrol price is the government tax. So that is fixed. When the oil price drops 75%, the fuel price drops 15%.

[arbitrage]

You must know how those multi billion corporation makes money through war and manipulations..Don't forget all this in the middle east is just cause and effect oil-wars!
Many times we heard about weapons of mass..But they only found there crude oil?

[Barnabe]

You must know how those multi billion corporation makes money through war and manipulations..Don't forget all this in the middle east is just cause and effect oil-wars!
Many times we heard about weapons of mass..But they only found there crude oil?

Maybe when humanity won't need oil anymore, this area will be totally in peace (or totally desertic with only tribes and nomads  )

[richardsNY]

You must know how those multi billion corporation makes money through war and manipulations..Don't forget all this in the middle east is just cause and effect oil-wars!
Many times we heard about weapons of mass..But they only found there crude oil?

Maybe when humanity won't need oil anymore, this area will be totally in peace (or totally desertic with only tribes and nomads  )

There will never be peace in the world unfortunately. Right now a lot wars are about oil, but when there is something that replaces the current oil, then people will make war just for that. If you have something that another country doesn't have but badly need, then fill in what you think will happen.... It will never stop.

[Barnabe]

You must know how those multi billion corporation makes money through war and manipulations..Don't forget all this in the middle east is just cause and effect oil-wars!
Many times we heard about weapons of mass..But they only found there crude oil?

Maybe when humanity won't need oil anymore, this area will be totally in peace (or totally desertic with only tribes and nomads  )

There will never be peace in the world unfortunately. Right now a lot wars are about oil, but when there is something that replaces the current oil, then people will make war just for that. If you have something that another country doesn't have but badly need, then fill in what you think will happen.... It will never stop.

Of course total peace is impossible, but lots of wars in these regions are caused because of Oil, and Oil also fuels big and corrupt governments (with plenty of money to buy weapons).
So maybe without the influx of money generated by Oil these regions will be more peaceful.

[kanazawa]

OIL is becoming a thing of the past...

Long live to renewable !

[mrflibblehat]

Of course, we have all seen that Tesla managed to get almost 500 km from a charge, so I don't think that's so bad. And there are few sport cars that are able to keep up in acceleration terms with the Tesla. And with the new technologies in battery charging and electricity prices, the future of electric cars might not be so far as we think.

[expert4knowledge]

OIL is becoming a thing of the past...

Long live to renewable !

It is very early to say farewell to oil but for auto industry it may be imminent but I am not sure about other industries such as heavy industries, price is an important variable here that must not forgotten.

[mrflibblehat]

Oil is finite and won't last forever. Alternative vegetable fuels or electric power are regenerable without the possibility to end so it's only logical that things will change if they want it or not.

[Ch3wbacca]

Renewable energy is still a hype for the next 2-3 decades.

Oil is king for now, we will most likely see ATH prices or high demand resurface within the next 3-4 years.

[Pab]

Oil is dead Soon USA will doesnt need to import Oil.And new technologys will start to  replace oil
Oil coal,bye,bye

[Barnabe]

Oil is dead Soon USA will doesnt need to import Oil.And new technologys will start to  replace oil
Oil coal,bye,bye

Oil will not stop being used for at least one century. We cannot change the world in less time.

[Rotator]

Story about renewable energy is for kids.
If you want to produce solar cell you need energy
Whole mechanization on the world is dependent on oil or on ethanol, with this population on earth it is impossible to create abundance with renewable energy.
In some point you will be forced to decide, to create ethanol or corn for food?
Maybe if population went under 500 millions..
Power of wind, power of geothermal and other are relocated and are very complicated for use..
I won't mention nuclear power.

[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???

In my country, most of the petrol price is the government tax. So that is fixed. When the oil price drops 75%, the fuel price drops 15%.

I hate this thing in my country as there are so many taxes levied here, that even if the price drops drastically, we don't see much change in terms of our currency here...

Oil's price seems to be dropping and will surely drop more...

[romero121]

Oil is dead Soon USA will doesnt need to import Oil.And new technologys will start to  replace oil
Oil coal,bye,bye

Oil will not stop being used for at least one century. We cannot change the world in less time.

Thats true, even though new technology gets evolved oil will be in use. To demolish the use of oil can be done if entire countries agree. So most countries who having oil wealth won't agree. This continues for several decades

[Pab]

Yet another crash day  on oil 27$ per barrel,will  be no rebound global economy is slowing down
There is no new tigers,more and more oil,less demand

[Barnabe]

Yet another crash day  on oil 27$ per barrel,will  be no rebound global economy is slowing down
There is no new tigers,more and more oil,less demand

Oil demand growth is steady in Asia (and also probably is in other countries in development)

[MedaR]

Everything from a this graphs can tell you demand for oil rising and price is falling down?
This artificially made price decline, by corporate masters.
It is logical for price to rise..This is the game of rich.

[Barnabe]

Everything from a this graphs can tell you demand for oil rising and price is falling down?
This artificially made price decline, by corporate masters.
It is logical for price to rise..This is the game of rich.

IMO what made price decline is economic warfare and geopolitical interests (mostly from Saudi Arabia and US).
If OPEC get their shit together (and they probably will soon) price should steadily rise again...

But this is pure speculation, because no one will admit it and we have no concrete proof of it.
Only time will tell us how price are going to evolve. 

[MedaR]

People watching price and trying to predict for a year or two.
This is not problem,We are near peak. When producing of oil starts to decline price will start to jump like crazy,
 and hardly will ever again be so cheap.
They can achieve this and with artificial crisis like wars, terrorist attacks..