$50 Oil By The End Of The Year? March 7, 2016

Updates

Later, 12:45 p.m. Central Time: see first comment. I had to take a moment to learn about oxygenates (again). See wiki.

From EIA: US oxygenate plant production of fuel ethanol --

Original Post

 

$40-oil is the new $70-oil for US shale.

$50-oil is no better than $30-oil for Saudi Arabia.

Things will have to move faster than this if Saudi wants to feel better about such things.

Bloomberg is reporting: oil will be back at $50 by the end of the year.

Major OPEC producers are privately starting to talk about a new oil price equilibrium of $50 a barrel, adding to signs that the market's long, deep rout is officially over, says one of the industry's leading prognosticators.

Credit Suisse suggests we might see $50 oil by May.

One swallow does not a spring make.

I don't know if folks have noticed, but gasoline has increased "fairly significantly" over the past couple of weeks. This is mostly due to winter / summer changeover at the refineries, but it seems to be moving more quickly than one would expect.

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Generational Differences

The other day I pointed out the following license plate to our 12-year-old granddaughter while leaving Barnes and Noble, Southlake, TX:

4KJKR

I asked her what she thought it might mean. I made the mistake of giving my answer before she could answer and thus spoil the opportunity for her original thought.

I told her it could stand for a great poker hand: 4 kings and a joker (where the joker is wild, of course).

Not missing a beat, seriously, not one step later, one nano-second later, Arianna thought it meant "For kids, J. K. Rowling" because the car was parked outside a bookstore.