Oil starting to creep up - $300 by this time next year

[HDPhysiques]

http://finance.yahoo.com/news/Oil-rises-to-sixmonth-high-apf-15160848.html

$300 a barrell this time next year. You heard it here first.

[Smokincrazy]

We're all starting to get fucked again

[gooer]

god dammit. can we get some good news for a change?

[timfogarty]

$300 a barrell this time next year. You heard it here first.

simple economics (supply and demand) don't support that prediction.   yes, we're running out of oil.  yes, China and India will use more and more of it.  but as the price rises, alternative fuels become competitive, keeping the price of oil in check.  and the economy is hurting, driving down demand

[HDPhysiques]

simple economics (supply and demand) don't support that prediction.   yes, we're running out of oil.  yes, China and India will use more and more of it.  but as the price rises, alternative fuels become competitive, keeping the price of oil in check.  and the economy is hurting, driving down demand

That's what everyone said about oil going over $80, then $100.  It had no problem going up to $147 before the credit and real estate crisis. 

Your premise, in theory, is valid.  Problem is, it's only in theory.  The reality is that no alternative fuels are readily available and won't be for 20+ years.  It will be $300 by next summer, and $500 a barrell by summer 2011, and $10.00 gas will be "cheap".

[24KT]

That's what everyone said about oil going over $80, then $100.  It had no problem going up to $147 before the credit and real estate crisis. 

Your premise, in theory, is valid.  Problem is, it's only in theory.  The reality is that no alternative fuels are readily available and won't be for 20+ years.  It will be $300 by next summer, and $500 a barrell by summer 2011, and $10.00 gas will be "cheap".

Why so gloomy?  You say this as if $300 or $500 / barrel oil is a bad thing?
...and supposed to make everyone unhappy. It doesn't. One man's hell is another man's paradise I suppose.
I personally wouldn't have a problem with $300 or $500 / barrel oil. Infact, it would make me quite happy. 



Guess What? Overnight, while most people slept, ...gas went up 10.22 cents per gallon!    Isn't that great?! 

[headhuntersix]

Ur an epic idiot jag.