Will Oil Make A New High This Time?

[STANGGT40]

it's around ~$104 now and the high was around $147, if i remember correctly. think it will break through the $147 number this time? all of the commodities seem to be on a mad tear lately...copper is crazy high! i'm assuming that it's likely still bush's fault as well. (according to the dems)

[Strychnine]

Interesting article:

Summary: Shell future energy scenarios: 'zone of uncertainty' ahead


Full 41 page PDF: Shell Enery Scenarios to 2050 - Signals and Signposts


excerpts from the summary link:

We believe that the world is entering an era of volatile transitions and intensified economic cycles. The recession interrupted the oil and commodity price boom but it may return. Emerging nations like China and India are going through materially intensive development and a tighter market will continue to put pressure on prices and generate volatility. Improvements in policy-making and strong gains in productivity have helped economies to grow without inflation in the last two decades. We do not believe the moderating effect of this combination of good policies, good practices, and good luck will continue into the future.

The global economic crisis has coincided with a shift in geopolitical and economic power from west to east. This decisive shift is transforming the global economic and political system. The change is gradual, but its potential consequences are profound. The economic crisis in the west may accelerate this trend. Future generations may see 2008 as the turning point. The world faces a period of uncertain global politics. Strategic fault lines are emerging. Rising powers are increasingly and confidently asserting what they see as their national interests. This is undermining global mechanisms for ensuring collective security.

[Woods Racing Transmission]

Copper is crazy high high right now. I just got 130 bucks for 88 pounds of phone/data wire. Thats more than I got when oil was in the 140's. So I would say will see 150 plus before summer.

[stevo]

Copper is crazy high high right now. I just got 130 bucks for 88 pounds of phone/data wire. Thats more than I got when oil was in the 140's. So I would say will see 150 plus before summer.

Copper was $3.50+ ( a pound) a week or so ago around here. No where near that during the last oil highpoint.

I agree, oil will continue to rocket up and this shit will come to a big festering head soon.

The shit is going to hit the fan and it is going to be a scary ride for us little folk.

Stevo

[Broncojohnny]

If oil gets too high it will kill consumer spending and cause a whole new mess. In my opinion, we'll be back in a recession before it gets to $147 unless it shoots up overnight.

[Sean88gt]

If oil gets too high it will kill consumer spending and cause a whole new mess. In my opinion, we'll be back in a recession before it gets to $147 unless it shoots up overnight.

I bet $120 or $4.25/gal. People are already beginning to pull back.

[mustangguy289]

I hope you are wrong. On one hand, it is great for job security (unti it crashes again.... which it will) but on the other hand it kills the wallet for those of us who choose to never use credit cards for everyday purchases.

[stevo]

I bet $120 or $4.25/gal. People are already beginning to pull back.

$120 oil before the end of April, $4.25 gas before the end of May.

Just an opinion.

Stevo

[8mpg]

been hearing on the radio that if oil goes above $140 a barrel, Europe is going to be hit very hard and on the verge of collapse. They say $160 is not sustainable for Europe.

Its amazing how all this bullshit really happens. Everything is fine until those fuckers in Libya have an uprising. The oil is now based on PURE speculation and not based on supply/demand. We have the supply... OPEC has already guaranteed that a few days ago. Its just bullshit

[GhostTX]

I still say the price of oil is driven more by speculators than actual supply/demand. The fix is getting people that actually take delivery of product to buy/sell rather than Wall Street trading paper all day.

[Sean88gt]

$120 oil before the end of April, $4.25 gas before the end of May.

Just an opinion.

Stevo

And any hope of reelection a distant memory by June. His overall complacency and tolerance for high gas is going to end his career.

[GhostTX]

And any hope of reelection a distant memory by June. His overall complacency and tolerance for high gas is going to end his career.

Him being a dumba$$ in general already sealed his fate for that long before this 2nd gas "crisis".

[Broncojohnny]

I still say the price of oil is driven more by speculators than actual supply/demand. The fix is getting people that actually take delivery of product to buy/sell rather than Wall Street trading paper all day.

It is, without a doubt.

[Trip McNeely]

Invest in Liquid Natural Gas while its low. More things will be converting.

[Vertnut]

[QUOTE=8mpg;153532]been hearing on the radio that if oil goes above $140 a barrel, Europe is going to be hit very hard and on the verge of collapse. They say $160 is not sustainable for Europe.


Gas is about $6 a gallon in Rome as we speak. If oil goes to $160, i'd guess they'll see about $9 a gallon, easy.