Price of Crude Oil wil hit $150-200 Within 6-9 months

[ZECH]

The reason it is going down is because it reached a price that average americans can't afford. Demand is way down. If it doesn't drop considerably, we will end up in a recession/depression that will make the last/current one look like nothing happened. GS forcast's is for their benefit........They control the price by speculating. They want it up, they just print an doomsday media report just like this one.

 

[Big Smoothy]

The reason it is going down is because it reached a price that average americans can't afford. Demand is way down. If it doesn't drop considerably, we will end up in a recession/depression that will make the last/current one look like nothing happened. GS forcast's is for their benefit........They control the price by speculating. They want it up, they just print an doomsday media report just like this one.

Speculation is a big factor, no doubt.

As for demand, yes Americans will drive less. But they still have to drive. If you have a commute, you'll still have to drive. Yeah, some will do car pools, and even slugs and other transpo options.

The article I posted made note of a very big issue: declining production.

Oil production has declined since 2005.

Believe in peak oil theory or not, oil output/production has declined, and in addition to America's dependency on oil (number 1 oil consumer) China and India are using more and more oil, every year.

The days of cheap oil, are over.

 

[ZECH]

We drive less cause we have too. Yes we still have to drive, but it hurts the oil companies so they cut the price to get us to use more. I never have believed the peak oil crap. There is plenty.....you just have to drill where it is. They cut imports and refining to get the price high. It's all about the money. 1 big rip off. I saw we charge the same for food we ship to the middle east as they do oil. Before long we will be getting gas at 10 cent a gallon.

 

[LAM]

Believe in peak oil theory or not, oil output/production has declined, and in addition to America's dependency on oil (number 1 oil consumer) China and India are using more and more oil, every year.

The days of cheap oil, are over.

cheap oil...lol....that's long gone

and all the easy sweet crude is gone in the US..only thing left is shale and the processes used to extract that are about the worst thing for the environment.

 

[jhud25]

i hope it keeps going up to force people to find alternatives

 

[Big Smoothy]

According the Goldman Sachs, oil (and therefore gas) will be going up soon and be high for the Summer.

GS is forecasting U.S. gas to be at or about $5 per gallon.

 

[Big Smoothy]

Goldman Sachs is forecasting higher oil and therefore higher gas prices in the US.

GS is forecasting $5 gas per gallon sometimes during the Summer.

 

[Big Pimpin]

Goldman Sachs is forecasting higher oil and therefore higher gas prices in the US.

GS is forecasting $5 gas per gallon sometimes during the Summer.

I saw that and you know the greedy Jews at the NYMEX can't wait for it.

 

[LAM]

Goldman Sachs is forecasting higher oil and therefore higher gas prices in the US.

GS is forecasting $5 gas per gallon sometimes during the Summer.

yes, and I'm sure they will be the cause of that....

this is why I say participants in certain commodities markets should be limited to those in that industry and/or those that actually have the capacity to take delivery of that said commodity.

 

[HARDBODY71]

Damn

 

[ZECH]

yes, and i'm sure they will be the cause of that....

This is why i say participants in certain commodities markets should be limited to those in that industry and/or those that actually have the capacity to take delivery of that said commodity.

+1

 

[lnvanry]

Petro forecast from one of the best in the biz

 

[LAM]

Petro forecast from one of the best in the biz

I wonder what effect there will be on crude oil prices and other commodities if/when the CIS becomes a full member in the OECD?