This is a friendly, interactive exchange of information on all Real Estate related subjects. Follow on Twitter: @RETALKS


Moderator: admin

  • 1
  • 2
  • 3
  • 4
  • 5
  • 13
 
Austin
Real Estate Talker
Topic Author
Posts: 3353
Joined: Thu May 28, 2009 1:41 pm
Contact:

Price of oil?

Tue Nov 18, 2014 8:01 am

Where is metal head? I wonder what he thinks of the price of oil and the surge of alternative energies such as solar, wind and cold fusion.

Also wondering about the impact of energy prices on Canadian real estate; can't imagine that this is going to be very good for our LNG projects.

However as energy prices dip so does the Canadian dollar so I can imagine that way at least from nominal point of view our prices may remain stable.

There is room for concern as there is a long term correlation between energy prices and Canadian real estate prices. In British Columbia especially we benefit from such things as hydroelectricity but if global prices continue to decline that benefit will decrease.
Redistribute consumption, not income.
 
User avatar
WhipMaster
Real Estate Talker
Posts: 5129
Joined: Thu Mar 07, 2013 2:42 pm
Contact:

Re: Price of oil?

Tue Nov 18, 2014 8:38 am

Image
There's MetalHead hanging out with the young people! :D
Hoo~Cudda~Not~Nod~ed????? :-)
 
jimtan
Real Estate Talker
Posts: 5508
Joined: Tue Jul 31, 2007 10:59 pm
Contact:

Re: Price of oil?

Thu Nov 20, 2014 8:24 am

metal has been whisked by a tornado to the Land of Oz. :?

Anyway, like everyone in the industry who benefit from fossil fuel. They took the money and ran off. Leaving problems for the rest of us. :mrgreen:
Attachments
global-warming.jpg
global-warming.jpg (163.5 KiB) Viewed 12331 times
 
jimtan
Real Estate Talker
Posts: 5508
Joined: Tue Jul 31, 2007 10:59 pm
Contact:

Re: Price of oil?

Thu Nov 27, 2014 8:44 am

No surprise! :shock:

"Oil falls as OPEC opts not to cut production"

http://www.cnbc.com/id/102222286

As oil falls to that magical $60 mark. That special $60 mark!

"As China Peak Steel Looms, Miners Sweat on $120 Billion Bet"

http://www.bloomberg.com/news/2014-11-1 ... china.html

There are bubbles, Many bubbles. And it's not Vancouver RE!!!!!!!

Long live the consumer! Low inflation! Low interest rates! :mrgreen: :mrgreen: :mrgreen:
Attachments
Average_Price_of_West_Texas_Intermediate_Crude_Oil.jpg
Average_Price_of_West_Texas_Intermediate_Crude_Oil.jpg (73.77 KiB) Viewed 12223 times
 
User avatar
metalhead
Real Estate Talker
Posts: 2793
Joined: Wed Nov 05, 2008 12:09 pm
Contact:

Re: Price of oil?

Thu Nov 27, 2014 9:35 am

LOL, love that pic Johnny Horton.
I actually prefer Twin Peaks over Hooters here in Tulsa.

http://www.twinpeaksrestaurant.com
It's probably the best "breastaurant" going right now, although Tilted Kilt is pretty good too.


Yeah, price of oil. I have been through two major crashes in my career (1986, 1999) so this is just more of the same.
It is a cyclical business. It is nothing to do with alternate energy sources at this point. There are no alternatives yet no matter what some say. Fossil fuels will continue to dominate for some time, probably decades still.
It is more to do with increased production from many sources but particularly shale formations in the U.S. I am part of that. It is what I have been working on the past 6 years or so now. Too good at my job I guess, haha. Declining usage is the other side of the equation. Slow down in consumption growth in China, Europe, US, etc. Americans are driving more cars that get 30 mpg instead of 12 mpg. Many predict the US consumption has peaked and will never get near that peak again. I think this is true.
Much of the rest of the world however will continue to demand more petroleum and as producers slow down E & P and development spending the price will jump back over 100 bucks agin. Probably take a couple of years.
As i said the oil business has always been cyclical and I see nothing ahead that will change that. Yet.

As for Real Estate in Canada, particularly the west? Well look what happened to Calgary in the 80's oilfield slump caused earlier than the actual price collapse by Trudeau and Lalonde's disastrous NEP. Prices dropped around 40-50 percent. It won't be as bad this time I think but Alberta RE has probably peaked for awhile. Expect it to cool down substantially. Oil workers won't feel too confident to spend on big ticket items for some time. This will also be new and quite a shock to the more recent people in the biz. They have only seen good times. Old timers like me will not be shocked. Booms and busts are old news to us.
Albertans buying RE in BC will likely slow down quite a bit too. Probably hurt the interior a lot more than Vancouver.

Personally I will keep my job to at least next June but after that who knows. Will not be surprised to be let go. I have planned for it though and could retire now if I have to.
 
jimtan
Real Estate Talker
Posts: 5508
Joined: Tue Jul 31, 2007 10:59 pm
Contact:

Re: Price of oil?

Thu Nov 27, 2014 10:19 am

You'll be moving to Oklahoma or Chilliwack? :roll:

Let us know if they let you go before June.
Attachments
Average_Price_of_West_Texas_Intermediate_Crude_Oil.jpg
Average_Price_of_West_Texas_Intermediate_Crude_Oil.jpg (73.77 KiB) Viewed 12158 times
 
reallyreal
Real Estate Talker
Posts: 418
Joined: Thu Apr 10, 2014 7:17 am
Contact:

Re: Price of oil?

Thu Nov 27, 2014 10:24 am

hahahahahah...jimmy sandals can't stand that someone can retire in peace ... jimmy goes to bed every night praying against that special assessment..ahahahahahahahahhahahahahaa :lol: :lol: :lol: :lol:

atta boy metal!
 
Geyser
Real Estate Talker
Posts: 3569
Joined: Tue Jun 05, 2012 5:26 pm
Location: In a van down by the river
Contact:

Re: Price of oil?

Thu Nov 27, 2014 12:54 pm

Hey Whippy, you said you wouldn't post my picture without asking me first! :evil:

Metalhead, sounds like you've got it made. Trust me, well planned retirement can be the best time of your life, it rocks! :D
In fond memory of Taipan, a model of modesty, decency, dignity and tolerance. Long may we all prosper from the tremendous legacy of worldly wisdom and specialized real estate knowledge which he left in the "Arguments" thread.
 
Austin
Real Estate Talker
Topic Author
Posts: 3353
Joined: Thu May 28, 2009 1:41 pm
Contact:

Re: Price of oil?

Thu Nov 27, 2014 1:32 pm

retirement = death

If you're too old to work, you're too old to enjoy life.
Redistribute consumption, not income.
 
User avatar
WhipMaster
Real Estate Talker
Posts: 5129
Joined: Thu Mar 07, 2013 2:42 pm
Contact:

Re: Price of oil?

Thu Nov 27, 2014 2:18 pm

Personally I will keep my job to at least next June but after that who knows. Will not be surprised to be let go. I have planned for it though and could retire now if I have to.
...consider it a blessing. Who would want to live down there? :D
Hoo~Cudda~Not~Nod~ed????? :-)
 
reallyreal
Real Estate Talker
Posts: 418
Joined: Thu Apr 10, 2014 7:17 am
Contact:

Re: Price of oil?

Thu Nov 27, 2014 2:53 pm

retirement = death

If you're too old to work, you're too old to enjoy life.
Isn't jimmy sandals retired? 8)
 
jimtan
Real Estate Talker
Posts: 5508
Joined: Tue Jul 31, 2007 10:59 pm
Contact:

Re: Price of oil?

Thu Nov 27, 2014 3:29 pm

I have a hobby. :mrgreen:
Attachments
bull versus basement dweller.jpg
bull versus basement dweller.jpg (11.5 KiB) Viewed 12035 times
 
Geyser
Real Estate Talker
Posts: 3569
Joined: Tue Jun 05, 2012 5:26 pm
Location: In a van down by the river
Contact:

Re: Price of oil?

Thu Nov 27, 2014 3:40 pm

retirement = death

If you're too old to work, you're too old to enjoy life.
So life = work?

Workaholic eh? You have my sympathy. I've known several and I've worked alongside a few. They're all dead now. One died at his desk late one Saturday night, another was alone on a business trip and was found dead in his hotel bathroom. His corpse was jammed between the wall and the toilet. So sad.

Much of my work life was spent doing things which were reasonably enjoyable but never as enjoyable as my vacations and never as enjoyable as the overwhelming sense of reward and freedom which accompanies a well planned retirement. I retired earlier than most folks, I haven't worked for a very long time and I've never been happier. Total freedom to do what you want when you want is awesome, it's a great vacation which goes on and on!!! :D

Although you might consider such things less enjoyable than work, I can assure you that quality family time, frequent fine dining, extensive luxury travel, theatre nights, socializing with equally care-free friends, strolls in the park, coffee on Robson, visits to the Art Gallery, plus a whole bunch of other things, can make life very enjoyable, even for an old geezer like me.

It is very sad to hear that without your work you would consider yourself dead. You can probably get help with that issue and you really should. There is so much more to life than work, and you appear to be missing it all. :(

Seriously, seek counseling before its too late. If you make it to my age you will see a lot of your friends die. Trust me, not one of my friends ever told me during their final days that they regretted not spending more time at work. Not one!
In fond memory of Taipan, a model of modesty, decency, dignity and tolerance. Long may we all prosper from the tremendous legacy of worldly wisdom and specialized real estate knowledge which he left in the "Arguments" thread.
 
User avatar
WhipMaster
Real Estate Talker
Posts: 5129
Joined: Thu Mar 07, 2013 2:42 pm
Contact:

Re: Price of oil?

Thu Nov 27, 2014 4:01 pm

Geyser:
Trust me, not one of my friends ever told me during their final days that they regretted not spending more time at work. Not one!
.... fawkin' right! :D
Hoo~Cudda~Not~Nod~ed????? :-)
 
Austin
Real Estate Talker
Topic Author
Posts: 3353
Joined: Thu May 28, 2009 1:41 pm
Contact:

Re: Price of oil?

Thu Nov 27, 2014 4:08 pm

People who retire are a drain on society. I can't think of anyone that I admire that's retired.
Redistribute consumption, not income.
  • 1
  • 2
  • 3
  • 4
  • 5
  • 13

Who is online

Users browsing this forum: Bing [Bot] and 17 guests