Oil Price Watch

[uls]

^^^

ya tama

[pop3corn]

well ganyan talaga... boom and bust

sa ngayon nasa sweet spot ang economy ng Pinas -- credit boom

banks are very willing to lend

the thing is kaya ba ng puso mo umutang with the mindset na hindi mo babayaran?

my credit cards have credit limit of half-a-million each. and these banks regularly call me every month if I want to use their credit to cash facility or in other words, convert my 500K limit to cash and pay something from .07 % to 1 % per month interest. pero still I dont take the offers coz of what i'm seeing the future.

i have have had businesses before na umutang ako and paid 1% a month, and nabawi ko naman. pero dito kasi mag-isip-isip ka din eh, you may think of a business now that will have a a generous return of 10% per month net dun sa inutang mo na babayad ka ng 1% or less as interest. tubo diba, as in kumikita sa pera na pinagdul-dulan pa sayo ng banko

pero what if nag-default yan mga car buyers na yan, will they buy from your business na. hinde kasi mas uunahin nila yan utang nila

this also explains now why a lot of business now are in deep **** or are experiencing slow sales. bec. the banks are taking the lion's share of the middle class or mainstream employees' salaries and money.

so kung kayo may business ngaun, you cannot just brush aside na ang tanga-tanga ng mga empleyado na narahuyo sa low downs ng cars na yan, bec. that can also severely affect your business too. lalo na yun mga business with malaki overhead like having a space in malls, or have large workforce.

this is very disturbing ...

[shadow]

Eh Ang liit naman ng icoomvert mo Sa cash eh..let's say you have ten cards with P500k limit* so P5M Lang...

I'm talking about minimum P100M iuutang mo mga big idle lots mo Sa province, better if you can loan it Sa mga rural banks, kahit bigyan mo ng cut yun president/owner ng rural bank...hehehe

Kesa naka tengga Lang, marami gumagawa ng ganyan ha...

Kawawa Lang mga depositors...


Sent from my iPad using Tapatalk HD

[pop3corn]

Eh Ang liit naman ng icoomvert mo Sa cash eh..let's say you have ten cards with P500k limit* so P5M Lang...

I'm talking about minimum P100M iuutang mo mga big idle lots mo Sa province, better if you can loan it Sa mga rural banks, kahit bigyan mo ng cut yun president/owner ng rural bank...hehehe

Kesa naka tengga Lang, marami gumagawa ng ganyan ha...

Kawawa Lang mga depositors...


Sent from my iPad using Tapatalk HD

parents ko gumagawa ng ganyan. dami mura and idle lots sa province. nakapagpalayas na din kami ng tenants na nagtayo ng bahay hanggang sa apo nila, yun tipong may pulis sila may pulis kami type of demolition. i tell you, pag nasabak ka sa ganyan mas bubutihin mo pa nasa bangko na lang ang pera mo.

that is one reason nga kaya ako na-addict sa travel eh. coz my dad took us out in a restaurant one day and told us na drop everything we're doing and we're going to be out of town for 3 months. all expense paid nya. aba eh di syempre sino ba tatanggi dyan. tapos malaman-laman ko there is a possibility of death threats sa demolition na isinagawa nga when we're abroad.

bec. of this, I have told myself that I will never follow the footsteps of my parents. kung tuusin, for me it's wrong to own vast idle lands kung hindi mo naman pagyayamanin. ang dami-dami kawawang mamamayan natin na hindi makabili ng sarili nilang bahay, tapos ikaw mag-o-own ka ng hectares of this small island Philippines. in the law of nature, who gives you the right to own more space dahil lang ba may pera ka?

naintindihin ko naman kumbakit karamihan sa mapera sa'tin engage in this bec. they want security. they want peace of mind. by owning so much, they can work less, eat more, pleasure more. and also they want to secure the future of their kids and next of kin.

and that's why karamihan sa mga ito, malaking pamilya as in literally a family of overweights who can move like 1km/hr and lahat inaasa sa katulong / helpers. and what about kids, they're just breeding useless kids na hindi mag-contribute sa society bec. silver spoon eh.

given all that, I despise that idea. mas gusto ko pa yun ginagawa ni manny pangilinan eh, he tries to own everything here bec. it's all just a game for him. to have a purpose and excitement in life. I doubt if he values so much everything that he owns that i-keep nya sa sarili yun. para sa kaniya, that feeling of winning or owning then losing, then owning something bigger, ah that's life.

[uls]

yes OB you have a point

kaya malaki ang itinaas ng net worth ng mga pinoy billionaires (according to Forbes) kasi kinita nila ang pera ng working class (OFWs and local workers)

napunta sa mayaman ang pera ng working class... pera na pinambili ng bahay, sasakyan, appliances, gadgets etc.

[uls]

South Korea to halt Iran oil imports as EU ban bites | Reuters

(Reuters) - South Korea became the first major Asian consumer of Iranian crude to announce a halt to imports after the government said they would be suspended from July 1 due to a European Union ban on insuring tankers carrying Iranian oil.

[uls]

$90 new line of defense

[CVT]

that is one reason nga kaya ako na-addict sa travel eh. coz my dad took us out in a restaurant one day and told us na drop everything we're doing and we're going to be out of town for 3 months. all expense paid nya. aba eh di syempre sino ba tatanggi dyan. tapos malaman-laman ko there is a possibility of death threats sa demolition na isinagawa nga when we're abroad.

, ah that's life.

Bro.,- death threat?.... ah that's life...

BTT: Bumaba na ang presyo ng krudo/gasolina...

16.0K:dude:

[greenlyt]

^^ sana pati toll fees

[uls]

Brent price supported by South Korea halting Iranian oil imports

SK will now have to buy more North Sea crude

[Verbl Kint]

^^ 90 is the new 100, I see.

[uls]

when i said oil price falling too low will be bad for Canadian producers meron nagsabi ano daw ba alam ko mas magaling ba ako sa mga oil producer???

yeah yeah what do i know...

Oil price erosion slowing oilfield activity

Oil price erosion slowing oilfield activity

At least 3 local producers cutting back

BY DAN HEALING, CALGARY HERALD; WITH FILES FROM DINA O'MEARA, CALGARY HERALD JUNE 23, 2012

The head of Canada's largest drilling company says he is already seeing signs of a slowdown in oilfield activity because of the dramatic slide in North American oil prices.

Benchmark near-month crude dropped below $80 US per barrel in New York on Thursday, the lowest since October, but regional prices in pipeline-constrained areas like Western Canada and North Dakota are seeing even deeper discounts.

"The wet spring has slowed down the typical late spring, early summer ramp-up so that's been clouding the issue for us a little," said Kevin Neveu, president and chief executive of Calgary-based Precision Drilling Corp., which operates throughout North America.

"But I think we've been seeing work deferred or delayed or pushed back.

"Not surprising. Until we have some sense of what a stable price looks like, our customers are going to be very careful with their decisions."

On Friday, crude rallied two per cent to close at $79.76 US a barrel after earlier touching $77.56. At least three Calgary producers announced cuts to their capital programs this week: Bellatrix Exploration Ltd. snipped $30 million to $40 million from its $180-million plan; Whitecap Resources Inc. trimmed $40 million to $45 million from its $265-million budget; and Longview Oil Corp. cut more than a third or $27 million from its $73-million outline. All blamed low oil prices. Whitecap said it expects the Edmonton Par crude price to drop from $95 Cdn per barrel in the second half of 2011 to average just $75 per barrel in 2012.

Precision reduced its 2012 capital plan by $150 million to $975 million in April, deferring maintenance and infrastructure work but continuing to build new rigs that are covered under long-term contracts.

Neveu said there are no immediate plans for further reductions, adding that the mid-to large-sized companies his firm deals with have more flexibility to continue to invest in exploration and development as prices soften.

"Our customers tend to outdrill their cash flows and when cash flow gets pulled back, it does have an impact on drilling," he said.

"But I'm pretty confident that most of our customers can still produce oil at prices lower than this."

Neveu said he doesn't expect slowing in the in situ oilsands industry of northern Alberta, a sentiment shared by Kevin O'Brien, president of IMV Projects, a construction management company that works in the oilsands.

"Certainly, we are concerned, but it's too early to tell if there is going to be any long-term effect from this," he said.

"The projects we work on are typically three-to five-year developments. Most of our customers take a long-term view of these things, and what I am being told by our customers is they are going to keep going with their oilsands developments.

He said lower prices for natural gas liquids could hamper gas drilling in Alberta and continued low prices could lead to the cancelling of future oilsands and gas projects.

A report this week from Calgary investment firm Peters & Co. shows that a total of 7,386 wells have been licensed in the Western Canada Sedimentary Basin so far in 2012. That's off 15 per cent from 8,711 in the same period of 2011.

Other numbers also point to slowing activity. The active western Canadian rig count as of Tuesday was 205, down from 227 a year ago and the five-year average of 233; well completions in Canada were at 90, versus 132 a year ago and the five-year average of 133; and Alberta auctions of drilling rights to date have raised $603 million, a third of the $1.8 billion in the same period of 2011.

now what will happen if WTI falls to $60

[niky]

yeah yeah what do i know...

Apparently... nothing! Oil is forever! Cheap oil is good for everybody! Lalalala!!!

now what will happen if WTI falls to $60

I think the bounceback in price due to low supply would kick in well before $60... but then, I could be wrong.

[uls]

hehe... there's a floor! and it's not very low

[andywesteast]

when i said oil price falling too low will be bad for Canadian producers meron nagsabi ano daw ba alam ko mas magaling ba ako sa mga oil producer???

yeah yeah what do i know...

Yeah, what do you know... you're just an Armchair Analyst.

Now you are Smarter than the WALL STREET JOURNAL?


"America will halve its reliance on Middle East oil by the end of this decade and could end it completely by 2035 due to declining demand and the rapid growth of NEW PETROLEUM SOURCES in the Western Hemisphere, energy analysts now anticipate.


The U.S. will halve its reliance on Middle East oil by the end of this decade and could end it completely by 2035 due to falling demand and growth of NEW PETROLEUM SOURCES, energy analysts say. Angel Gonzalez has details on Markets Hub.

The shift, a result of technological advances that are unlocking new sources of oil in Shale-rock formations, Oil sands and deep beneath the ocean floor".

The prospect that new sources of supply in the Americas could lead to YEARS OF FLAT OR FALLING OIL PRICES",Wall Street Journal, 6/27/2012

Kaya nga mababa ang Oil Price ngayon, dami nahanap na new oil sa North America.

It is now affecting the market accdg. to WSJ, Bloomberg, and Shell CEO.

Even in the latest OPEC meeting, pinaguusapan na ito.

Sabi ni uls hindi daw

Mas magaling daw siya

[Monseratto]

Yeah, what do you know... you're just an Armchair Analyst.

Kaya nga mababa ang Oil Price ngayon, dami nahanap na new oil sa North America.

It is now affecting the market accdg. to WSJ, Bloomberg, and Shell CEO.

Even in the latest OPEC meeting, pinaguusapan na ito.

Sabi ni uls hindi daw

Mas magaling daw siya

There are 2 distinct oil prices in the world...since the rest of the world cannot access the oil glut in North America...

MARKET WATCH: Brent, gas prices rise; WTI remains flat

HOUSTON, June 27
06/27/2012
By Sam Fletcher
OGJ Senior Writer

Oil prices made generally small gains in primarily aimless markets June 26 despite a 2% increase for North Sea Brent on the possibility of supply disruptions in Norway and Iran. The price for West Texas Intermediate was essentially flat, but natural gas continued to trend up, rising 2.7% in New York.

[andywesteast]

There are 2 distinct oil prices in the world...since the rest of the world cannot access the oil glut in North America...

The US is the World's biggest consumer of crude oil. It buys a lot of oil from the Middle East.

Lately, people have found a lot of new oil in North America (Shale and Oil Sands), so US will not be buying much Mid-east Oil in the forseeable future. So LESS DEMAND for Mid-East Oil, so World Oil prices are affected. Plus China's demand lately has been lackluster too.

Between uls, an ARMCHAIR ANALYST who Nobody knows....

I would rather place my bets on what the Wall Street Journal, Bloomberg, Shell CEO, OPEC, and US Department of Energy have been saying.

"By 2020, nearly half of the crude oil America consumes will be produced at home, while 82% will come from this side of the Atlantic, according to the U.S. Energy Information Administration. By 2035, oil shipments from the Middle East to North America “could almost be nonexistent,” the OPEC recently predicted…

Even as places like North Dakota ramp up output–recently passing Alaska as the 2nd biggest U.S. producer behind Texas–some of the biggest hydrocarbon output growth on the continent has come from up north in Canada. That’s promising to make Canadian-U.S. energy cooperation as important as it’s ever been." Wall Street Journal, June 27, 2012

[Ry_Tower]

^With how the WTI is priced right no, bakit hihintayin pa ng america na kumuha ng oil sa ME. Canadian oil na lang ah. $20 difference, asan ka pa?

More than half of the oil that fuels the U.S. comes from the Western Hemisphere, and only 17% comes from the Persian Gulf—Bahrain, Iraq, Kuwait, Qatar, Saudi Arabia, and the United Arab Emirates.

Canada (23.3%)
Venezuela (10.7%)
Saudi Arabia (10.4%)
Mexico (9.2%)
Nigeria (8.3%)

I'm sure they can get the 17% now from Canada.

[niky]

The US is the World's biggest consumer of crude oil. It buys a lot of oil from the Middle East.

Uh... you do know that, as Ry Tower mentioned... most of US Oil doesn't come from the Middle East? It's been that way for decades now... even during the Gulf War and the invasion of Iraq... which were supposed to be wars for oil, the US was importing most of its oil from other sources.

-

Which means that... a Canadian supply glut will only mean one thing... America will be buying more Canadian oil. And they will need to keep a floor on Canadian prices to ensure more people process it.

Canadian tar sand oil is NOT a new discovery. It has been sitting there... discovered... for decades simply because it used to be too expensive to dig up during a time of cheap ME oil. Even with new refining methods, there's still a price to pay for digging up and refining all that dirt... and as we've been saying, and you've not been paying attention to... NEW refineries in Canada cannot open unless US oil prices stay over 80 per barrel... $60 is only beneficial to the ones that are already open, and there's no way in hell they can supply more than a portion of US needs.

Even with more refineries, that glut of oil will go to servicing America... as the WSJ notes. Which means bupkis for us here in Asia, since we'll still be getting our oil from the Middle East for some time to come, because those refineries in the US are half a world away.

[uls]

o yung mga magaling dyan na bumasa lang ng konting news nag conclude na agad di na kailangan mag import ng oil ang US

so lahat ng refineries sa US may access sa crude oil from Canada tar sands and US oil shale?

familiar ba kayo sa PADD? guess not. di kasi binabanggit yan sa news articles



yung oil ng galing sa US shale and Canada tar sands naka stuck sa PADD 3

high demand areas like PADD 1 dont have access to that oil so they still have to rely on imports priced in Brent

without googling, sagutin niyo baket naka stuck sa PADD 3 ang langis

baket kailangan parin mag import ng oil ang US eventho napakaraming oil sa US and Canada