Is $200 oil coming relatively soon?

[Stuart G]

From MSNBC Business..

Will Oil Prices Continue to be High?

http://www.msnbc.msn.com/id/24316855/

HOUSTON - Oil's meteoric rise to near $120 a barrel looks like more than just another economic bubble — growing demand and tighter supplies are likely to keep prices high. Some analysts say even $200 a barrel would not be out of the question.

The latest price surge — pushing crude to record heights in recent weeks, and to nearly double its level a year ago — has some key components of a classic bubble, when market prices climb far above their intrinsic value. The burst comes when investors realize the assets are overvalued.

But growing worldwide thirst for crude, in large part from the rapidly developing economies of China and India, means frustrated consumers probably won't get any relief.......................................


If you read the entire story, you will see that things is in the long run, do not look good. This would translate into 7 to 8.00 a gallon at the pump..But a severe recession or depression, could change the dynamics. We will see ..

One note: I recall last year reading that oil might go to 125 by 2010. Well that might be off a little to be sure.

[whistle]

1. Does a bear shit in the woods?

[gristy]

2. Without a corresponding degree of general inflation (including wage inflation), no,

I don't see it happening. The nascent recession we are currently in would descend to a global-wide depression. Most economic activity would come to a screeching halt, and the price of oil would then drop. I might have read that the current oil price run up is due in part to speculation (by way of futures markets) and other out-of-the-ordinary forces.

[Stuart G]

3. Yes, speculation to be sure..but..one major crises in the Middle East..

could increase the cost substantially. (who knows what that is?)..Like a U.S. attack on Iran, or serious problems in Saudi Arabia. Who knows what it could be. Or something very very odd. Some kind of upheaval in Mexico, or a very bad earthquake that totally cuts off their oil production. Anything could do it. Hope not. but who knows?

[sharesunited]

4. If the U.S. government (aka Cheney-Bush) cared about the high price of oil

the Department of Energy would be aggressively selling future delivery contracts against the Strategic Petroleum Reserve into this rally to beat back the speculators. DOE could accomplish this without having to deliver a single drop of oil by closing out its sell positions on the resulting decline.

Instead, expect an attack on Iran and much higher prices probably before the election, since (1) Cheney-Bush LOVE high oil, and (2) war is good for the Republican Party's chances of keeping the White House.

[lostnotforgotten]

5. Oil Market Analysts Agree - They See $10 to $15 Per Gallon Gas

Part 1

http://energytechstocks.com/wp/?p=819

Part 2

http://energytechstocks.com/wp/?p=824

Part 3

http://energytechstocks.com/wp/?p=831

Part 4

http://energytechstocks.com/wp/?p=834

[Stuart G]

7. and guess what, Bush will never accept responsibility for any of it.

Like Mc Namara and the Viet Nam War, he will never accept that he had anything to do with it.... even lack of leadership on the issue. Or even favoring the oil giants during his administration...It will be the consumer's fault, as opposed to his governments favoring continued high production of oil, with no leadership to conserve..in any way.

[Gdub01]

6. Food and Gas prices

Yes the price of food is going up. Yes with our dollar dropping along side America's, the cost to import products from other countries is going up.

I'm thinking, there has to be a better way that just complaining about it. This site is a site that looks to take action.. so that's why I'm posting this. I've started to take action myself and am a firm believer in taking charge of the situation.

Get in control of the soaring prices of food here Soaring Food and Gas

[mike3121]

8. Oil Fire

Expect one of those "mysterious" oil refinery fires to suddenly drive the price of oil into the $150-$200 barrel range.

[hunter]

11. I'm sure there will be lots of "mysterious" things going on.

Anything and everything but to face the reality that the easy oil is running out.

Saudi Arabia? It looks like they can't turn up the taps any further.

From here on out the "new" oil is going to be beastly expensive and difficult to extract.

The party has to end sometime, it's a fantasy to think it won't.

All indications are that the time is now.

[elocs]

9. I think $200/barrel oil relatively soon crashes the economy.

There's no way the overwhelming majority of people can afford gas that high along with the corresponding increase in the expense of transporting food and goods.

[Leftist Agitator]

10. $8.00 / gal by January 20, 2009.

I'm calling it right now.

[Rex]

12. If it does, the working class won't be able to choose between food and work.

Unless they live close to their job. Which I don't. Thanks asshole Cheney for fucking up all our lives. :sarcasm:

We won't be able to choose anything, just go along with our 600 dollar 'rebate' and be happy to spend it on shit I need. It is as if they PLANNED it to be so...chump change, 'blood money' coming back to us from a war criminal.

Funny how life works. :(