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JerryS - exactly. I'm not going to get into a debate on fracking economics here - but suffice to say I think the US producers are much more flexibility and dynamic than per hydros post - but importantly directionally I fully agree. Inflation is here, inflationary pressure will be sustained, governments are rightly nervous about using interest rates to suppress inflationary...so bond/treasury yields will be low....which means holding gold as a store of wealth makes sense...which is positive for gold price expectations...which is positive for anyone with a gold based asset...I think
hydrogen. There is talk of the Democrats tapping into the U.S's strategic oil reserves in order to keep the price of petrol below $5 at the pumps. This will result in a lower global oil price, but will further weaken the U.S's ability to fight against China in global war. Biden/Harris/Pelosi appear to be willing to do anything, and everything, to remain in power. Methinks the Chinese have been playing Wall Street and the Democrats for at least a decade. The game for global supremacy appears to be almost won. What's this got to do with the GGP share price? Methinks, the plug will be pulled, quite literally, from Bitcoin et al, when the energy crunch comes and the computer servers are turned-off to give priority to house hold use during the winter; and Gold (and the other PMGs) will once again be king! ATB, FG
Tom. Oil price - inflation - gold price - GGP as a soon to be producer. Thought it was an excellent piece and jives with my thoughts. Thanks Hydro. Tom dont look for fights where they dont exist. Thats Hydros job!
I think the bottom line is really nobody knows and that is a bizarre situation to be in given previous results and expected results! The pattern is changing. Is that due to boredom; to manipulation; or to controlled news and PR; gold price; or what? We know there 's an elephantor possibly two or three underground so what's the story? I am frustrated, intrigued, bewildered and flummoxed...but like most of us here ; I am willing to wait , watch and see. Maybe it is simply lack of solid investment metrics in place as yet for the instos and boredom by departed PI's. Damned if I know but we are all still here...most of us. GLA
Hydro forgive me for asking but What the hell has this to do with the thread GGPSP ?????????? If you need to talk to others re the oil price will collapse please go on the appropriate BOARD and new thread and not on the GGP board and my thread that I started ?????. Why do you keep on about other themes as I just do not understand where you are coming from. What has this to do with our exploration company, very confusing to say the least. JUST SAYING !!!!
Try talking about GGP where they are going and the possibilities tonight as you are confusing members what WE ARE all about.
Just saying but there is so much disruption here we do not know WHO is disrupting and who is not ??
No steady rise in the days before news is published. That breaks a trend which has generally been followed by a drop in price after news as traders make hay. I think that might tell us that there is some price consolidation afoot
I think the Idea that the oil price will collapse again to reduce inflationary pressures is incorrect Matty.
This is why… cheap shale oil essentially powered the US out of the GFC. Now, a lot of money was thrown at shale and fracking to create an exciting new industry. Which was technologically game changing.
Wind forwards 15 years and we have learnt that shale oil is not so cheap… well decline rates are high nor is it particularly efficient to recover anyway. In other words It takes a lot of barrels of oil to make 10 barrels of shale oil.
Then, around the time of covid, the Russians and the Saudis fell out over production cuts. The previous regime supported the oil price thus their cash flows … but because the Russians could see that US tight oil was vulnerable (to a financial shock of lower oils prices ) they targeted $30-40 to do lasting damage to a sector that was already struggling and in some places on its knees at sub $50 oil.
That irreparable damage has now been done. Many us banks have been badly burnt by US tight oil debts. They won’t be re-entering the sector.
So what this means is the Russians and Saudis who knew they could weather lower op regime are back in the hot seat and they NOW want payback.
Imo A world of $100-200 oil is coming. That means more inflationary pressure ( with no relief ). We were paying $130-140, 15 years ago. Equivalent price today is closer to $200.
The market still thinks the oil price will crash. It won’t. The Saudis and the Russians will force prices higher now.
And if you think about it, Biden isn’t going to stand in their way now either … how does he embarks on the massive green energy transition with low fossil fuel prices?
That just doesn’t work… expect to pay much more for your energy (or use a lot less going forward).
Hi Rkama. $1800/oz is being defended by the criminals that run the gold market. When that falls they will step it up to approx $1900 and so on and on. The only way gold will not hold above $1800/oz is if interest rate turn positive. Even then a collapse in the equities market will see a rush into real assets/commodities pushing up inflation. As i said every way you look at it points to a much higher POG. ATB Speedy
Hydro - generally agree though I don't think the inflation levels will get that high as history shows supply chains (inc. energy) can react very fast which will slow inflationary pressure sooner than some think. But - inflation looks here to stay at levels much higher than we have seen for ages + no appetite from governments to hike interest rates for obvious reasons...so, I know of no economic theory that doesn't suggest that combo won't lead to upwards movement in gold prices...I don't but they bitcoin/bitcoins equivalent as an alternative to gold - lack of underlying asset being key difference.
"We'll know whether the market has reacted well to tonight's drill results if JonesRichard is back tomorrow" It's also possible that Southwesterner will make a guest appearance tonight or tomorrow to try and pinpoint focus on any lower grades, etc. If he does then probably best just filter or ignore.