When do we hit $150 oil?

misterno · Posted: Tue Jul 08, 2008 8:13 pm Post subject: Re: When do we hit $150 oil?

Russian and Mexican production are definitely dropping. Yet there is no demand destruction in India and China.

In the long run, oil will go up. It should go up.

DantesPeak · Posted: Tue Jul 08, 2008 9:06 pm Post subject: Re: When do we hit $150 oil?

Six months ago most were amazed that oil reached $100, now the question is whether it will stay less than $150 the remainder of 2008. How far we have come.

My opinion is that the economic weakness will cause world central bankers/governments to increase inflation. Thereby prices will actually rise faster when the economy is weakening faster.

Didn't anyone notice the official CBO projection is for a federal deficit of $400 billion this fiscal year - and the recession has hardly got going? That $400 billion will be financed by inflationary Fed policies, and next year, there will be an even bigger deficit to finance.
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Niagara · Posted: Fri Jul 11, 2008 7:35 am Post subject: Re: When do we hit $150 oil?

smallpoxgirl · Moderator Joined: Nov 08, 2004 Posts: 5716

I'm betting today is the day we hit $150. If not, it will stop just short at 149 something and wait a week or two to break through.
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KevO · Expert Joined: May 24, 2005 Posts: 2358

could be today
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mobil1 · Posted: Fri Jul 11, 2008 8:02 am Post subject: Re: When do we hit $150 oil?

funzone36 · Heavy Crude Joined: Dec 04, 2005 Posts: 179

by the end of the week, we're get owned by $150/barrel

sevenrd · Posted: Fri Jul 11, 2008 10:55 pm Post subject: Re: When do we hit $150 oil?

sameu · Posted: Sat Jul 12, 2008 4:32 pm Post subject: Re: When do we hit $150 oil?

alpha480v · Posted: Sat Jul 12, 2008 5:48 pm Post subject: Re: When do we hit $150 oil?

$150 next week. $200 by winter.

3aidlillahi · Posted: Sat Jul 12, 2008 6:10 pm Post subject: Re: When do we hit $150 oil?

A couple of weeks ago when I saw this thread, I predicted we'd have $150/barrel by next week (week of July 14th). I still stand by that prediction. I think it will be either Tu or Wed. I'm not expecting great numbers from the government on reserves after what we've been hearing about Cantarell and thus Mexican exports. That will cause a great amount of bullishness in the oil sector so that, if we aren't at $150 by Tuesday, then this news will send it over and beyond on Wednesday.

My two copper pennies.
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kpeavey · Expert Joined: Oct 04, 2004 Posts: 1243

The volitility of the markets has increased substantially over the last year. A $10/day swing is not unheard of. A price rise in the 5% range is $7.50. This puts $200/barrel possible with a week of bad news.

I will miss these days of cheap oil.
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hironegro · Heavy Crude Joined: Apr 08, 2008 Posts: 343

Not to be contrarian, but does it really matter?

Revi · Fusion Joined: Apr 25, 2005 Posts: 3252 Location: Maine

I think it matters to those of us who buy the stuff. The price of gas and heating oil seem to be on an ever increasing upwards trend.

We live in a state that has long, cold winters and lots of people who have to drive long distances to get to any kind of work.

The price of oil could make the difference between life and death for a lot of elderly people on fixed incomes.

I don't think $150 means that much, but the high cost matters to people here in Maine.
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DantesPeak · Posted: Sun Jul 13, 2008 8:03 pm Post subject: Re: When do we hit $150 oil?