$100 A Barrel Oil is on the Way

#276
#276
droski said:
i bet we see $70 oil before we see $120. show me a time in history with zero supply issues and a recession looming where the oil price has gone up 20%.
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It closed at $104 today.


During peak driving season this summer it will be higher, I would guess $10/barrel higher, putting it around $115 barrel. Bad news for the economy.
 
#277
#277
oklavol said:
It closed at $104 today.


During peak driving season this summer it will be higher, I would guess $10/barrel higher, putting it around $115 barrel. Bad news for the economy.
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it's already moved up in anticipation of the summer season. the june contracts are at $105.
 
#284
#284
Americans are a very lazy/complacent bunch and don't start action until hit in the face with a 2x4. If that's what it takes to end or dependence then so be it. It's not like the campaign promises coming out right now won't do it anyway.
 
#290
#290
droski said:
definetly. if they completely stop issuing new policies they still have enough in revenues to pay off any defaults.
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Ok, I just picked up 700 ABK @ $7.51 today. Maybe I could get a dead cat bounce out of it but, might hold it for a while to see how it works out. Thanks again.
 
#292
#292
myrobbins7 said:
Ok, I just picked up 700 ABK @ $7.51 today. Maybe I could get a dead cat bounce out of it but, might hold it for a while to see how it works out. Thanks again.
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it should go up after they place the offering. i hear the offering isn't going too well though.
 
#295
#295
gas is (converted) $8.65 here.

Guess we gotta remember it's much worse in places outside the US...could you see us paying that much for a gallon of gas?
 
#296
#296
It's $3.15 here in Memphis now, if it was $8.65 here then King Willie would have a melt down on his hands.:)
 
#297
#297
Aw man, I am moving back to memphis in June, it's up to $3.15!??! Dude, my folks said the mapco on park and mt moriah was like $3. Looks like being a broke college student is going to be harder then I thought!
 
#299
#299
#300
#300
i paid near $4 for gas in cali last week. fun fun.

no one will explain to me how oil can be over $100 with a slowing economy and no supply problems.
 
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