[Tanada]

Has now hit $65.01 for the first time, anyone really think it will go down from there?

[ohanian]

[Colorado-Valley]

I remember when oil was just over $30, and a few people were talking about it going over $50.

Almost nobody believed them ...

[mekrob]

Maybe that was because it was stuck there for half a decade...Why should anyone have? Simmons book hadn't come out. North Sea hadn't hit any major depletion rate. OPEC still had several million barrels of spare capacity. There were few reasons to believe them, at least on the surface (which is what matters for civilians and sheeple). I wouldn't be shocked that people didn't believe it.

$this->bbcode_second_pass_quote('', 'I') remember when oil was just over $30, and a few people were talking about it going over $50.

Almost nobody believed them ...

[Colorado-Valley]

There were a few people who knew about M. King Hubbert and his world oil production peak.

And of course dieoff.org ...

[evilgenius]

The part that I got wrong when oil was $10 a barrel was North Sea depletion. It has caused a whole new conniption in the winter nat gas markets because Europe has been cold. It looks like European, not American, demand will be the primary driver of winter nat gas prices in the years to come. It can only mean more wind turbines and more concessions to Russia.

How long before the Russians start asking for more than monetary payment in return for that gas? How high does the price need to go in terms of affordability before Europe would consider such an option?

[shakespear1]

Just wait until NATO tries to expand into Ukraine. THEN things will get interesting.

[PWALPOCO]

The 200ma thing has come up many times now , how the base price seems to constantly go up , spikes may come and go , but the price never quite falls to where it was before.

What I want to know is , this trend has been running for years now , two and half I think , has this kind of trend ever been seen before , or lasted as long ?

Paul