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Oil price to go over $100 and for 15 years!

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Oil price to go over $100 and for 15 years!

Unread postby KevO » Thu 06 Jul 2006, 07:59:55

so what happened to the BP guy saying it'll be $40 within a few years if not months?
has he been sacked?

ARTICLE HERE

Link broken.
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Re: Oil to go over $100 and for 15 years!

Unread postby Jack » Thu 06 Jul 2006, 08:19:36

Nice article. With oil already at $75.40 on the exchange, $100 seems achievable. Perhaps early next year?

Gosh, I wonder when the biofuels people will make their fortune? One would think they could make a go of it at these levels, if they ever could. But then, pie in the sky is slim rations indeed.
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Re: Oil to go over $100 and for 15 years!

Unread postby KevO » Thu 06 Jul 2006, 08:25:03

$this->bbcode_second_pass_quote('Jack', 'N')ice article. With oil already at $75.40 on the exchange, $100 seems achievable. Perhaps early next year?


"Reiterating earlier comment oil prices would hit at least $100 a barrel, he said: 'It will be much more than $100 before the bull market is over'."

:shock: :? 8O :-D
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Re: Oil to go over $100 and for 15 years!

Unread postby Jack » Thu 06 Jul 2006, 08:40:09

$this->bbcode_second_pass_quote('', '
')"Reiterating earlier comment oil prices would hit at least $100 a barrel, he said: 'It will be much more than $100 before the bull market is over'."


The problem is, people don't recall the great commodities bull market of 1973. Sugar went up limit, day after day, from about 3 cents per pound to 60 cents per pound.

True, it was a temporary price spike, and it came down rapidly. But then, sugar doesn't deplete. And one can do without sugar...

I fully expect an oil panic at some point. The consequences should be interesting. 8)
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Re: Oil to go over $100 and for 15 years!

Unread postby Novus » Thu 06 Jul 2006, 09:07:45

Notice the other headline linked from the main article.

Oil Dips below $75

Panic? Who's panicing?
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Re: Oil to go over $100 and for 15 years!

Unread postby Jack » Thu 06 Jul 2006, 09:46:18

$this->bbcode_second_pass_quote('Novus', '
')Panic? Who's panicing?


No one. Yet. 8)
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Re: Oil to go over $100 and for 15 years!

Unread postby Fergus » Thu 06 Jul 2006, 09:47:06

Amy diminishing resource will increase in value as its depleted (or percieved to be depleted). Its only a matter of time till it hits $100.00 then $150.00 then $200.00 a barrell. This is common sense. If you care to make a prediction, tell me whos gunna win the superbowl, not something thats is inevitable.
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Re: Oil to go over $100 and for 15 years!

Unread postby KevO » Thu 06 Jul 2006, 12:36:03

$this->bbcode_second_pass_quote('Fergus', 'A')my diminishing resource will increase in value as its depleted (or percieved to be depleted). Its only a matter of time till it hits $100.00 then $150.00 then $200.00 a barrell. This is common sense. If you care to make a prediction, tell me whos gunna win the superbowl, not something thats is inevitable.


But Mr BP said it would be $40 down to evntually $25.
I mean he should know, what with all those stockholders - or am I missing something rather large?
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Re: Oil to go over $100 and for 15 years!

Unread postby advancedatheist » Thu 06 Jul 2006, 12:49:42

$this->bbcode_second_pass_quote('KevO', ' ')But Mr BP said it would be $40 down to evntually $25.


You mean the Dark Lord John Browne, Baron of Madingley?

I find it hard to take a CEO seriously whose name sounds like that of a character from LOTR.
"There was a time before reason and science when my ancestors believed in all manner of nonsense." Narim on <I>Stargate SG-1</i>.
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Re: Oil to go over $100 and for 15 years!

Unread postby KevO » Thu 06 Jul 2006, 12:52:29

$this->bbcode_second_pass_quote('advancedatheist', 'Y')ou mean the Dark Lord John Browne, Baron of Madingley? I find it hard to take a CEO seriously whose name sounds like that of a character from LOTR.
Madingly? ho hum
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Re: Oil to go over $100 and for 15 years!

Unread postby shortonoil » Thu 06 Jul 2006, 13:28:53

Fergus said:

$this->bbcode_second_pass_quote('', 'A')my diminishing resource will increase in value as its depleted (or percieved to be depleted). Its only a matter of time till it hits $100.00 then $150.00 then $200.00 a barrell.


The US Current Account Deficit is presently consuming 80-90% of the savings of every man, woman and child on the planet. To maintain our fiat currency, the US $, it is necessary that we be able to continue borrowing to compensate for our deficit spending. That will theoretically not be possible much longer. When the necessary borrowing is no longer possible, the FED will reach cross over, the point when they will not be able to create enough money to service the $47 trillion in debt that is already in existence. The monetary/financial system will consequently then implode and the true significance of PO really will be felt. $200 oil is just not possible. We do not and will not have the money to buy it at those prices. At that point we will probably not even have money - just worthless pieces of paper.


"Paper money eventually returns to its intrinsic value: zero." --Voltaire
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Re: Oil to go over $100 and for 15 years!

Unread postby FairMaiden » Thu 06 Jul 2006, 15:24:04

$this->bbcode_second_pass_quote('', ' ')The US Current Account Deficit is presently consuming 80-90% of the savings of every man, woman and child on the planet.


What savings would that be? The personal savings rate in the US has been negative since 2005: Savings rate

Yes, I understand there was/is previous savings...but it does show that the ppl are no better than the gov't. And this great article on gov't debt explains why we have to change first (well, you Americans do, LOL):
Financial Sense
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Re: Oil to go over $100 and for 15 years!

Unread postby shortonoil » Thu 06 Jul 2006, 19:14:43

FairMaiden said:

$this->bbcode_second_pass_quote('', 'W')hat savings would that be? The personal savings rate in the US has been negative since 2005:


FairMaiden, I am referring to the world wide saving rate, where the US is drawing the funds to continue our present spending spree, not the US its self. These funds, until very recently, have been coming mainly from the central banks of other countries. You are correct in that our saving rate was -1.4%, last time I looked.

Americans just can’t understand that we are unequivocally busted; they just can’t envision that America can and will go just as broke as Argentina did, and there wouldn't be any Uncle Sam to pick up the pieces!
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Re: Oil to go over $100 and for 15 years!

Unread postby shortonoil » Thu 06 Jul 2006, 19:26:02

$this->bbcode_second_pass_quote('', 'Y')es, I understand there was/is previous savings...but it does show that the ppl are no better than the gov't. And this great article on gov't debt explains why we have to change first (well, you Americans do, LOL):
Financial Sense



The US is 32% of the world's GDP and its dollar is the world’s reserve currency. When the US goes, the world goes with it!
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Re: Oil to go over $100 and for 15 years!

Unread postby KevO » Sat 06 Mar 2010, 13:25:04

here's the or at least ,a link requested by the mod
http://moneyandmetals.blogspot.com/2006/07/oil-to-go-over-100-per-barrel-rogers.html
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