[shortonoil]

yesplease said:

$this->bbcode_second_pass_quote('', 'F')ortunately, whether or not an estimate is correct usually doesn't impact price significantly.

[Armageddon]

[Dan1195]

We have seen the same thing with the price of oil now for 2 days in a row. It stays relatively stable then makes a move upward toward the end of the session. Now at $124.50

[strider3700]

That could be investors expecting the price to drop but each day before going home deciding to get in just in case TSHTF overnight while they sleep.

[joewp]

$this->bbcode_second_pass_quote('strider3700', 'T')hat could be investors expecting the price to drop but each day before going home deciding to get in just in case TSHTF overnight while they sleep.

[chris-h]

http://www.treehugger.com/files/2008/05 ... ak-oil.php

[Valdemar]

$this->bbcode_second_pass_quote('chris-h', 'h')ttp://www.treehugger.com/files/2008/05/sexy-dancing-vs-peak-oil.php

[Revi]

Here's the story from Yahoo news:

make your links shorter

A new record every day. When's it going to cool off a bit?

[Daculling]

Oil Trades Above $124 After Touching Record on Supply Concerns



Rachel Ziemba an analyst at RGE Monitor, an economic research company in New York. ``The dynamic we are looking at is that of oil behaving as a financial asset.''

[MD]

$this->bbcode_second_pass_quote('', '
')The dynamic we are looking at is that of oil behaving as a financial asset.''

[Armageddon]

Anybody want to take a guess at how long this financial system can last with oil at $120.00 + ? 12 months is my guess, before you see failure at many levels.

[biofuel13]

$this->bbcode_second_pass_quote('Armageddon', 'A')nybody want to take a guess at how long this financial system can last with oil at $120.00 + ? 12 months is my guess, before you see failure at many levels.

[catbox]

$this->bbcode_second_pass_quote('catbox', 'S')eems like more and more Street types are getting PO now.

Sorry if this is a repost or in the wrong place:

http://www.bloomberg.com/apps/news?pid= ... fer=energy

This is a day when I bring the Macbook to work to watch the show!
125 by Thursday?

cb

[Armageddon]

$this->bbcode_second_pass_quote('biofuel13', '')$this->bbcode_second_pass_quote('Armageddon', 'A')nybody want to take a guess at how long this financial system can last with oil at $120.00 + ? 12 months is my guess, before you see failure at many levels.

[catbox]

Now I have all the folks in my office betting on where oil will go...it's almost surreal to here everyone getting jazzed up about 124! They still seem to be in denial, but getting a bit more clear on PO as we play our office oil game.

cb

[biofuel13]

cb[/quote]

Man, I almost had it! Looks like 125 by Friday will be more like it.

cb[/quote]

Nice prediction CB. What's your best guess on a date for $200

[Gandalf_the_White]

There is no limit now. Sachs may have been signalling the feds inability to start raising rates to combat inflation. it's not really a matter of a recession now, its a matter of what kind of recession they want. Do they want a total meltdown in the credit markets, or do they want energetic inflation and a new round of lending and mortaging of the future? My guess is they would prefer the latter so that even though they have been expected to try to put things on hold, they will lower rates by at least another point before the end of the summer. We could see zero if the law allows it. They have done everything they can and the Dow shed 200 points again this week.

If they raise interest rates, the dollar strengthens, oil goes down a little bit, the Dow goes down, a sinkhole the size of Arkansas opens up in the middle of America and millions of American homes fall into it. If they drop interest rates oil goes up, the dollar goes down, the Dow feels falsely buoyed and credit stays dry because the painful lesson of defaults has been learned, the trade deficit does down, interest paid on the debt goes down.

My bet is rates will be cut again in the next month and oil will test $130 by Memorial Day. And this is all when we have not even really seen Peak Oil lift itself up like a 24,000 mile long King Cobra yet. Once the market really believes there will be less oil next year than this year they will blow through $150 like nothing.

A cat 3 hurricane tracking into the Houston area could easily see us at $200 by mid-September under those circumstances.

Get ready people! If we said get ready at $70, then you better know that the lower half of the American income spectrum is going to get a very crude awakening when gas prices catch up with oil prices. Either shortages or $5 this summer at these prices.

[yesplease]

$this->bbcode_second_pass_quote('shortonoil', '[')b]yesplease said:

$this->bbcode_second_pass_quote('', 'F')ortunately, whether or not an estimate is correct usually doesn't impact price significantly.

[chris-h]

124.68

[hironegro]

Survey says many oil and gas industry executives forecast falling crude prices by year's end$this->bbcode_second_pass_quote('', 'H')OUSTON (AP) -- Even as oil prices ascended to new highs of more than $124 a barrel this week, many oil and gas industry executives say they expect the price to fall significantly by year's end, a new survey shows.