Oilpocalypse

14 11 2014

Edited by Dave Kimble to focus on oil.

http://www.zerohedge.com/news/2014-11-13/oilpocalypse-now-sends-small-caps-worst-day-3-weeks

Oilpocalypse Now Sends Small Caps To Worst Day In 3 Weeks

WTI Crude plunged another 3.75% to as low as $74.06 today – the lowest since Sept 2010 and dropping at the fastest rate of collapse since Lehman.

20141113_EOD4_0

 

And Lowest seasonal gas price since 2010…

20141113_EOD11_0

Don’t forget – the collapse in oil prices is due to over-supply and NOT (repeat not) due to a collapse in global demand (which of course are merely 2 sides of the same coin.

20141113_EOD2

It appears Airlines decided that once Bullard had spoken low oil prices can only mean good things for the global economic wealth of travelers… +45% in 3 weeks?

20141113_EOD1_0

 

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6 responses

14 11 2014
Chris Harries

Absolutely fascinating but what does it all mean and who is driving it?

We can speculate, but best to sit on our hands knowing that in a few months time everything will change yet again.

Meanwhile, here’s a terrific summary of how the International Energy Agency has been reporting on world oil dramas for the past decade and more:

http://www.resilience.org/stories/2014-11-13/watching-the-watchdogs-10-years-of-the-iea-world-energy-outlook.

14 11 2014
Graham Palmer

Me too, what does all this mean. What is it that causes airlines to have a diametrically opposite positive view of the future. They have thousands of new aircraft on order and Dubai is investing over $32 billion on a second airport. This is not just in response to a dive in oil prices but a long term view of the future.

14 11 2014
mikestasse

Maybe it’s the penultimate frenzy?

Peak spending?

Most certainly peak stupidity……

14 11 2014
pendantry

Oh, I don’t think we’re at peak stupidity quite yet. Can’t be far off, though.

15 11 2014
MargfromTassie

‘Peak stupidity’. Love it!
Anyway, I think this is what they have in mind for future fuel :-
http://www.safug.org/biofuel-use/feedstocks/

I can just see these feedstocks being used in the manufacture/construction of all those future planes and airports……

15 11 2014
mikestasse

Hahahahah…! Whoever wrote that obviously never heard of the energy cliff…….

Like I said…. peak stupidity.

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