March 16, 2012: Talking head on CNBC says if diplomatic deal with Iran reached, oil will fall $15. I assume he is talking about WTI which would take oil at its present $105 to $90. The sanctions are due to go into effect July 1, 2012, near the height of US driving season. I don't see the $15 premium for the Iran risk. I think the "Iran risk" has been baked in, and we are seeing other reasons for $105 oil and trending up. At the moment, 12:45 p.m. March 16, 2012, oil is up $1.25 when it appears this has caught folks by surprise.
This poll has been out there for quite some time now; thank you to all who participated:
Do you think events in the Mideast will push price of oil to new highs within the next six months?
My understanding is that the Iranian sanctions/embargo become effective July 1, 2012, at which time we may see how the poll results anticipated actual events. Until then, here are the results (numbers rounded):
45% -- Yes, Iran is foolish enough to close the straitNew poll:
35% -- No, Iran will try something but won't amount to much
20% -- No, Iran won't dare tangle with the US, EU, and/or NATO
Recently the Williams County commission banned all new man-camps indefinitely. Since the boom began, the county has approved around 10,000 man-camp beds; somewhere between 8 and 12 new motels/hotels have gone up in Williams County (most in Williston); and countless housing developments have been started/completed.Has housing in Williams County finally caught up with the needs of the oil patch?
- Yes, we are close to overbuilding
- Yes, but just barely
- No, but we are getting close
- No, we still need much more