The Oil Drum | Whither Oil Prices?

161 comments on Whither Oil Prices?

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raymond on September 16, 2006 - 11:23am

the real thing

It is meaningless to say that money is fictional. Are numbers not real?

It would be more accurate to say that that money and energy represent different dimensions, one physical (the world of things, processes and 3 dimensional space), one mental (the world where things and 3d space is represented). These distinct dimensions are not seperate - but they intersect in known and mysterious ways.

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step back on September 16, 2006 - 12:47pm

Money represents a promise.

But then again, humans lie. :-)

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DieOff on September 17, 2006 - 3:13am

Ok... how about a chart of Oil in terms of real value... Gold. It presents an alternative view. Check out a 10 year chart here: Chart of Oil priced in Gold

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Nate Hagens on September 17, 2006 - 2:11pm

One of the points being, since gold has recently sold off more than oil, oil in terms of gold bottomed 10 days ago and is not far from all time highs. Double barreled bad news for those who are long gold and oil. Im still uncertain what peak oil will mean for gold prices - I can see both sides of the argument. Now, chicken prices, that I am sure of.

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Calorie on September 17, 2006 - 9:17pm

Here's one that goes back to 1971:

It's from the Forbes article on Michael Lynch:

http://www.forbes.com/home/forbes/2006/1002/098.html

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161 comments on Whither Oil Prices?

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“Data always beats theories. 'Look at data three times and then come to a conclusion,' versus 'coming to a conclusion and searching for some data.' The former will win every time.”

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