[dolanbaker]

Oil price forecast to hit 150 US$ a barrel in 2012. World Oil Production will decrease by 2% per year for the next 20 years. Are you ready for the consequences ?

Youtube videos for investors.

http://youtu.be/xXZwm5wkJFE 1 of 7

[Plantagenet]

The price of a barrel of oil has gone up about 100% since Obama took office in 2009. Brent Oil going up another 25% to $150/barrel or even higher in 2012 is highly likely, unless the US economy tumbles into a double-dip recession.

[dolanbaker]

I thought that it was a fairly honest viewpoint regarding resource depletion and the reality that oil is getting ever harder to get at a reasonable cost. I don't think there was any reference to Obama in the report at all.

It was acknowledged that the tensions over Iran will cause a spiking in oil prices.
The most interesting aspect was the predictions of 8% per year price rise and a 2% decline in production, also the time scale of available oil being as short as 25 years.

[Plantagenet]

The most interesting aspect was the predictions of 8% per year price rise...

Why so low? The actual rate of price rise seems to be much higher.

Prices have gone up over 100% since Obama took office in 2009, amounting to about 25-35% a year. If prices go up to $150/barrel from here at ca. $120/barrel, that would be another 25% increase in 2012.

Of course, a major economic slowdown could result in an oil price collapse, or war in the middle east could send oil prices towards $300/barrel in 2012.

[vision-master]

Obama Obama Obama Obama Obama Obama Obama Obama
Obama Obama Obama Obama Obama Obama Obama Obama
Obama Obama Obama Obama Obama Obama Obama Obama
Obama Obama Obama Obama Obama Obama Obama Obama...............

[SilentRunning]

The price of a barrel of oil has gone up about 100% since Obama took office in 2009. Brent Oil going up another 25% to $150/barrel or even higher in 2012 is highly likely, unless the US economy tumbles into a double-dip recession.

Well, if the Cornies are right, then the price of oil will be crashing to less than $10 a barrel soon, once the "vast" new discoveries of oil start to "gush" onto the market.

Whether it is from "abiotic" oil that will magically slurp into our wells just as we need it, or because the human brain can invent an infinite amount of oil into existence by thinking of it, the cornies think that there can be no end to exponential growth - not now, not ever.

Clench those eyelids tight and scream - "The Oil is Out There" and "If you drill, it WILL Gush!"

[SilentRunning]

Obama Obama Obama Obama Obama Obama Obama Obama
Obama Obama Obama Obama Obama Obama Obama Obama
Obama Obama Obama Obama Obama Obama Obama Obama
Obama Obama Obama Obama Obama Obama Obama Obama...............

I voted for Obama because I hoped that there was a somewhat higher probability of sane, rational policy decision than under the McCain/Retard ticket. It has happened, but our right wing friends need to realize that no matter who won the 2008 election we would be in the exact same hole: Resources running out, population up, and economics failing.

[JohnRM]

The Republican Party is a drunk, asleep at the wheel.

Obama has at least been a somewhat controlled crash.

[Armageddon]

The Republican Party is a drunk, asleep at the wheel.

Obama has at least been a somewhat controlled crash.

By doubling the national debt ?

[careinke]

The Republican Party is a drunk, asleep at the wheel.

Obama has at least been a somewhat controlled crash.

By taking away our rights?

[dolanbaker]

It doesn't matter who's at the (USA) wheel the car is on rails!

[Fishman]

Plant, keep up the good work. It looks like they are about to snap. They screamed about Bush causing every problem in the world, throw a little salt on their collapsing views. As we watch local gasoline prices go up, O's chances go down, wether he had anything to do with them or not.

[princessjulia]

Yap totally agree as since obama take control oil prices are talking to the sky ...

[Cog]

We will never see $150 bbl oil. All the economies will collapse before we get there.

[dolanbaker]

We will never see $150 bbl oil. All the economies will collapse before we get there.

Without inflation or a change in lifestyles, you're probably correct.

There could still be brief spikes above that value though as supply shocks hit the system.

[Plantagenet]

Its amazing how fragile the globalized capitalist system turned out to be.

Every time oil goes over $100/barrel for a few months there are big economic problems in countries all over the globe.

[Timo]

Plantagenet, we may finally agree on something! Capitalism is dependent on consumers, which are dependent on financial resources, which are dependent on jobs, which are dependent on demand by consumers, which is dependent on production, which is dependent on natural resources, which is dependent on availability, which is dependent on Mother Earth......... We haven't figured out, yet, how to make capitalism work on a global scale ad infinitum. One change in any part of the equation causes quite the ripple effect across all markets and political systems. Those trying to rise higher and higher stretch themselves thinner and thinner, and finally the rubberband of reality breaks.

Danged reality! It's always someone else's fault!

Sir Real
(Keepin' it real.)

[SeaGypsy]

Its amazing how fragile the globalized capitalist system turned out to be.

Every time oil goes over $100/barrel for a few months there are big economic problems in countries all over the globe.

Double edged sword also. There are more nations depending on relatively small reserves, while those with large reserves are always using more domestically, as well as depending on set export revenues. (see ELM)
Any lasting dip below $100 (esp Brent/ Tapis) causes a lot of pain in many sensitive parts of the world. I think this is the basis of Ralphy's anti-market driven oil price argument (?) Whilst I can see the ethic, I can't see a viable alternative.