Author Topic: Crude Oil Prices  (Read 91257 times)

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Richard Myers

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Re: Crude Oil Prices
« Reply #160 on: February 11, 2016, 02:13:43 PM »
WTI    27.30 
Brent  30.06

Lowest price in 13 years.

Supply exceeds demand so much that storage capacity is almost full.

Stock market is taking a hit frequently now.
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JimB

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Re: Crude Oil Prices
« Reply #161 on: February 11, 2016, 05:52:52 PM »
I paid $1.29 earlier this week and I'll fill up tomorrow at $1.25. I haven't seen this about 10 years or so. Kind of odd but I'm not complaining. However, I've had more than one person say this is "scary low".
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Mimi

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Re: Crude Oil Prices
« Reply #162 on: February 12, 2016, 06:46:48 AM »
That is shockingly low! Yesterday I filled up @ $1.43/gallon and felt extremely blest while very concerned about this entire situation.   
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Richard Myers

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Re: Crude Oil Prices
« Reply #163 on: February 12, 2016, 07:36:46 AM »
And Chevron in California is still selling gas at $2.99. 

Why is it scary, because those who have taken advantage of OPEC's price fixing are not able to do so now. By not objecting to the cartel's unfair attempt to control prices, now American oil companies are suffering. Couple this with the downturn in the world demand for oil and we have an economic disaster in the making. This is why we have been posting oil prices. It is a marker of what is coming.

The Fed chief yesterday stated they were perplexed at how low the price of oil is. That is hard to believe. They know more than we do. It is not a secret as to why the oil price is so low, and that barring any disturbance in the Middle East, it will go lower until the glut of oil is overcome.  The OPEC cartel would like to by their unfair practice drive some of the competition out of business. It is working.  The prophet warned against speculating in such things, as often it would lead to ruin. How many today are counting their loss as commodity prices have fallen drastically? And, some are contemplating a fast profit by investing in oil, real estate, and gold today. What does God think about such things?

     God desires His servants to avoid all speculation. Satan may pave the way by making the first investment successful, but Oh, how bitter will be the final outcome! If the professing Christian has success in his first speculation, His ruin is almost certain. Visionary schemes are wildly entered into as schemers present promising enterprises which they declare will pay a large percentage on all money invested. Good men are fascinated and deceived. Shares are purchased. Then comes confusion and loss. Some are totally ruined, having in the excitement invested all they had. In the thirst for riches, reason seems to depart. One or two may gain wealth, to their own injury, but many, many are bitterly disappointed.
     Man proposes, but to save him from ruin, God disposes. The Lord has instructed me that should our brethren who are engaged in speculation realize their expectation, it would be the greatest curse that could come to Seventh- day Adventists. Thus others would be led into the snare, to the peril of their souls. Those who can earn an honest living would give up their business to speculate in mining stock, selling their souls for the hope of gain. 
 
     God requires His people to deal justly and in all kindness, never oppressing their fellow-beings in any way. Instead of entering into speculation, let those who know the truth find some steady, honest employment, in which they can earn their living in a way that glorifies God. Those who encourage the thirst for speculation will extinguish the light that God has given to guide their feet aright. Making money easily, they will spend it unwisely, and their prodigality will be their ruin. To maintain their habits of selfish indulgence, they must continue to make money rapidly. The effort to make money fast enough to meet their extravagant expenses, draws many into the gambling hell. 
     Man cannot prosper while he tramples on God's principles and ignores His wisdom. Those who refuse to obey the words of Christ will in time reap what they have sown. When in any sense God's way is departed from, when His will is violated, whether by nations, churches, institutions, or individuals, it is written in the books of heaven, and retribution will surely follow. 

     Once speculation is entered into, there is ever after an unrest, a thirst for gain, a desire to engage in some enterprise by which means can be obtained with ease, to be spent with prodigality. If by the grace of God the error of this course is seen, and therefore does not prove fatal, the character bears the scars for years.  {15MR 74.1} 
     The Ruler of the universe has protested against the greed of the natural heart, saying, "He that maketh haste to be rich shall not be innocent" [Proverbs 28:20]. God records them as guilty of fraud and transgression. "Nor trust in uncertain riches, but in the living God, who giveth us richly all things to enjoy" [1 Timothy 6:17]. "Ye shall do no unrighteousness in judgment, in meteyard, in weight, or in measure" [Leviticus 19:35]. "By humility and the fear of the Lord are riches and honor and life" [Proverbs 22:4]. "Let your conversation be without covetousness; and be content with such things as ye have: for He hath said, I will never leave thee, nor forsake thee" [Hebrews 12:5]. "He that loveth silver shall not be satisfied with silver, not he that loveth abundance with increase" [Ecclesiastes 5:10]. He who says to gold, "Thou art my confidence" [Job 31:24], shall find himself "pierced through with many sorrows" [1 Timothy 6:10]. "What shall it profit a man, if he shall gain the whole world, and lose his own soul?" [Mark 8:36].  {15MR 74.2}
Jesus receives His reward when we reflect His character, the fruits of the Spirit......We deny Jesus His reward when we do not.

Richard Myers

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Re: Crude Oil Prices
« Reply #164 on: November 22, 2021, 08:26:54 AM »
Brent Crude Oil      $79.80

Energy shortage in Europe and China has pushed prices up, but the Covid disease and lockdowns are keeping the economy suppressed so demand is down for energy. Biden has shut down pipe lines and wants to kill the oil industry coupled with the damage to oil plants when Hurricane Ida tore through Louisiana. Huge deficit spending in the US is pushing inflation higher including wages, food, housing, and energy. US stock market in on the verge of collapse.

Of economic interest to church members that have been counseled to move to the country, the price of land and housing in the country has gone through the roof in the US. Our message to those living in the wicked cities is to leave. Those church members who do not know or who reject counsel now find themselves locked into the strife ever increasing in the large cities and even in smaller ones. Take a moment to consider what has been happening in American cities in the last five years. People are fleeing the cities. And even states where children are being forced to attend schools teaching immorality and forcing vaccinations. None in God's church can say they were not warned.

The super wealthy like Bill Gates are buying very large quantities of farm land. Thus, the control of food will be in fewer and fewer hands causing the price of food to continue rising higher and higher.
Jesus receives His reward when we reflect His character, the fruits of the Spirit......We deny Jesus His reward when we do not.

Richard Myers

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Re: Crude Oil Prices
« Reply #165 on: July 29, 2022, 12:56:47 PM »
Why do we have this thread? Because we understood that the price of oil would rise to high levels. Prior to the increase in oil prices, American production  coupled with the slowdown brought about by Covid, brought the price of oil to a negative price. Today the price of Brent Crude is $110.
Jesus receives His reward when we reflect His character, the fruits of the Spirit......We deny Jesus His reward when we do not.

rahab

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Re: Crude Oil Prices
« Reply #166 on: July 31, 2022, 06:05:03 AM »
 :'(

Richard Myers

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Re: Crude Oil Prices
« Reply #167 on: October 21, 2022, 11:03:26 AM »
Brent Crude       93.16

Biden in order to make things look  better than they are, is going to release an additional 15 million barrels of oil from the Strategic Petroleum Reserve. In order to keep the oil prices from going higher before the coming election, he asked the Saudis to hold off on their cut in product until next month. Biden wants to shut down the production of oil and gas as do the European countries.

The Biden administration asked Saudi Arabia, the de-facto leader of oil producer group OPEC, to delay its decision on oil output by a month, the kingdom said in a statement.

The Saudis declined, and in early October OPEC+ — which includes non-OPEC oil exporters like Russia — announced its largest supply cut since 2020, to the tune of 2 million barrels per day starting from November. That means tighter supplies and higher prices at a time of already high inflation and worries of a global recession, which angered U.S. lawmakers who are now calling for a “reevaluation” of relations with the Saudi kingdom.

Notably, the White House’s request would have delayed the decision until after the U.S. midterm elections.
  source
Jesus receives His reward when we reflect His character, the fruits of the Spirit......We deny Jesus His reward when we do not.

rahab

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Re: Crude Oil Prices
« Reply #168 on: October 21, 2022, 05:43:59 PM »
Seems they are trying to influence our elections  :-\