[flapjax]

It was nice to hear the MSM bring this up for a change.

June 11, 2009
How will your life change if oil reaches $250 a barrel?
FROM CNN’s Jack Cafferty:

Experts predict the price of oil could soon hit $250 a barrel. Already, a barrel of crude is trading at almost $73 dollars — which is up from the lows of $30 a barrel only four months ago.

Prices are going up for lots of reasons; the big one is a new report that shows the world’s proven crude reserves have fallen for the first time in 10 years. Demand for oil has gone up for the first time in 10 months; and as the global recession begins to wane, demand for energy is only expected to increase. Plus, it’s the start of the summer driving season.

The question to the general public: what would you do if oil hits $250 a berrel?

http://caffertyfile.blogs.cnn.com/2009/ ... #more-6444

Consistant $250 oil IMO is not sustainable. Dieoff would ensue.

[Schmuto]

Consistant $250 oil IMO is not sustainable. Dieoff would ensue.

No doubt at all.

Oil at 150 was about to end common-man airplane travel.

I'd guess that above 200 is the end of the modern economy.
Above 300 is social unrest in heretofore unseen proportions.

[Plantagenet]

what would you do if oil hits $250 a barrel?

Hmm.......I expect I'll still be waiting for the Congress to authorize funds to build nukes, high speed intercity electric trains and light electric rail in urban centers because the money is all being committed to shovel-ready road maintainance projects and to keep GM and Chrysler afloat.

[HeckuvaJob]

When do uncommon men stop flying?

[Sixstrings]

It was nice to hear the MSM bring this up for a change.

June 11, 2009
How will your life change if oil reaches $250 a barrel?
FROM CNN’s Jack Cafferty:

Experts predict the price of oil could soon hit $250 a barrel. Already, a barrel of crude is trading at almost $73 dollars — which is up from the lows of $30 a barrel only four months ago.

Prices are going up for lots of reasons; the big one is a new report that shows the world’s proven crude reserves have fallen for the first time in 10 years. Demand for oil has gone up for the first time in 10 months; and as the global recession begins to wane, demand for energy is only expected to increase. Plus, it’s the start of the summer driving season.

The question to the general public: what would you do if oil hits $250 a berrel?

http://caffertyfile.blogs.cnn.com/2009/ ... #more-6444

Consistant $250 oil IMO is not sustainable. Dieoff would ensue.

This $250 projection is being thrown out there a lot all of the sudden. If nothing else, brace for a ramp-up by the speculators.

[Timo]

$250/bl does seem to be tossed out there to the public a lot in recent days. My guess is (and it's only a guess) that there are things happening that the media knows but will not talk about. $250 is being tossed out now to prepare people. If it never reaches that level, we'll all feel good that things never got as bad as predicted. If it does reach $250, then hopefully people were given adequate warning and time to prepare for the worst. This is all about managing the descent, not preventing or reverseing the descent. A lot of what we see is scripted in order to prepare ourselves for hard times coming.

[Revi]

How much would you be willing to pay to go 20 miles? We're talking about yourself, 4 friends all sitting on comfy chairs along with 500 pounds of gear moved to exactly where you want it at 60 mph?

I think even if it hits $10 a gallon that's still an incredible bargain.

$250 a barrel is cheap.

[nobodypanic]

It was nice to hear the MSM bring this up for a change.

June 11, 2009
How will your life change if oil reaches $250 a barrel?
FROM CNN’s Jack Cafferty:

Experts predict the price of oil could soon hit $250 a barrel. Already, a barrel of crude is trading at almost $73 dollars — which is up from the lows of $30 a barrel only four months ago.

Prices are going up for lots of reasons; the big one is a new report that shows the world’s proven crude reserves have fallen for the first time in 10 years. Demand for oil has gone up for the first time in 10 months; and as the global recession begins to wane, demand for energy is only expected to increase. Plus, it’s the start of the summer driving season.

The question to the general public: what would you do if oil hits $250 a berrel?

http://caffertyfile.blogs.cnn.com/2009/ ... #more-6444

Consistant $250 oil IMO is not sustainable. Dieoff would ensue.

This $250 projection is being thrown out there a lot all of the sudden. If nothing else, brace for a ramp-up by the speculators.

the speculation ramp up has already begun.

i can't imagine it'll go to $250. i think we'll fall off a cliff before then (taking demand w/us).

[evilgenius]

I wonder if $250 is the price America needs it to go to so that foreign inflows of investment, to get dollars, will begin to pay some of the cost of righting America's economy? Food for thought, huh.

My feeling is that it won't have to go near $250 for enough demand to be reached for dollars. I think that in part because I agree that the wheels will come off domestically before $250. I also think that many of the oil producing countries will hyper-inflate before $250 as well, along with the poorest countries in the world that will not be able to afford oil without inflating.