$100 A Barrel Oil is on the Way

#1,101
#1,101
TennTradition said:
That sounds low to me. I would be surprised if we see anything below 40. We won't see it climb that much until demand can start growing again - probably the middle of next year? When are China, India, etc. expected to begin kicking (or level out in) the international financial crisis? 80 sounds like a good number to me, too.
Click to expand...

closed at 40.81 today Bloomberg.com: Energy Prices

But I agree, it going to go up again as demand in India and China is going to explode. China is predicted to have more cars then the U.S. in a few years.
 
#1,102
#1,102
oklavol said:
closed at 40.81 today Bloomberg.com: Energy Prices

But I agree, it going to go up again as demand in India and China is going to explode. China is predicted to have more cars then the U.S. in a few years.
Click to expand...

That prediction may have to be redone. The Chinese just readjusted their subsidies on gas. The Chinese citizen is now looking at gas that is 10 times more expensive than it was.
 
#1,103
#1,103
MontereyVol said:
That prediction may have to be redone. The Chinese just readjusted their subsidies on gas. The Chinese citizen is now looking at gas that is 10 times more expensive than it was.
Click to expand...

Somebody on the radio this morning was saying that China's economy is way weaker (or maybe not as strong) than most people have been lead to believe.

?????
 
#1,105
#1,105
Rasputin_Vol said:
Somebody on the radio this morning was saying that China's economy is way weaker (or maybe not as strong) than most people have been lead to believe.

?????
Click to expand...

Looking at their GDP you would think they were THE thriving economy. What most people do not know is China must maintain at least 7 to 8% just to break even. Consider the US tries for a healthy 3-4% for growth.

so if China's growth is 11% their true growth is only around 3-4% Go below the baseline and they are not producing enough jobs to supply their workforce and then bad things start to happen.

Currently they are facing a crises of not having the jobs for kids who are graduating from colleges. And with China its a large numbers game, If they fail its going to be disastrous.
 
#1,106
#1,106
OPEC will be having a meeting next week. OPEC plans on aggressive cuts, if the market doesn't move up on the news, I wouldn't be suprised to see us in the 20 handle shortly. (IMO)
 
#1,107
#1,107
myrobbins7 said:
OPEC will be having a meeting next week. OPEC plans on aggressive cuts, if the market doesn't move up on the news, I wouldn't be suprised to see us in the 20 handle shortly. (IMO)
Click to expand...

I don't think OPEC can get the prices back to where they were anytime soon. They just don't have the pull right now because of the markets self correcting themselves.
 
#1,108
#1,108
myrobbins7 said:
OPEC will be having a meeting next week. OPEC plans on aggressive cuts, if the market doesn't move up on the news, I wouldn't be suprised to see us in the 20 handle shortly. (IMO)
Click to expand...

wow, I read something about $1/gallon gas last week, but didn't take it seriously, maybe we can.
 
#1,113
#1,113
Bush and Cheney are now trying to screw the Green Enery people by rapidly bringing back low oil prices, bankrupting solar and wind startups.

Also, all of the peak oil crowd, who were counting on oil disappearing by 2012.
 
#1,114
#1,114
jdsa said:
Bush and Cheney are now trying to screw the Green Enery people by rapidly bringing back low oil prices, bankrupting solar and wind startups.
Click to expand...

You are joking... right?

Maybe the worst economy since the 1930's has someting to do with it. Also the banks are a little fatigued right now with lending to people\companies that dont make any money
 
#1,116
#1,116
jdsa said:
Bush and Cheney are now trying to screw the Green Enery people by rapidly bringing back low oil prices, bankrupting solar and wind startups.

Also, all of the peak oil crowd, who were counting on oil disappearing by 2012.
Click to expand...

are you serious? :lolabove::good!:
 
#1,118
#1,118
The price of oil fell because of the global recession and the U.S. has cut consumption by driving less and more efficient cars. China raised the price of gas in China too.
 
#1,123
#1,123
Article in the WPO about some guy who sat in on BOLM oil and gas lease auction in Utah. As people were protesting outside, this guy just walked in and started to bid on acres of land.

He now owns Oil + Gas rights to 22k acres and owes the US governemt $1.8 Million. Not Bad... only $80 an acre. Since his bids were not genuine he is facing criminal charges...

Pretty Funny

washingtonpost.com
 
Last edited:
#1,124
#1,124
Woohoo $250 barrell oil soon:

Oil price leaps to year's high | Business | guardian.co.uk

The price of oil burst through the $71 a barrel mark today amid revelations that proven reserves had fallen for the first time in 10 years and predictions that the price could eventually hit $250.
The latest high – from lows of $30 only four months ago – came on the New York Mercantile Exchange, where the cost of July deliveries rose by $1.35 to $71.36.
This comes on top of a $2 rise the day before as investors rushed into the market on the back of lower stockpile figures, higher demand estimates and speculation against further falls in the dollar.
"I wouldn't be surprised if we're testing $80 in a week or two," said one analyst, while BP's chief executive, Tony Hayward, questioned whether $90 could be the "right" value.
Click to expand...
 
Last edited:
New posts
You must log in or register to reply here.
Advertisement





Back
Top