[Alnitaka]

Blacksmith, you mean I should buy an SUV or an RV with my money instead of investing it in energy stocks and bonds and gold investments?

[Gerben]

$100 oil is more likely than $200 oil with demand destruction gaining momentum. The rally we had since 1998 is probably over. The prices will rise again when oil production starts to decline. No idea when that will be though.

[yesplease]

Since we're getting awfully close to the $100 mark, does it have to be Brent, NYMEX, WTI, or all three hitting $100 to "count"?

[MrBill]

$this->bbcode_second_pass_quote('yesplease', 'S')ince we're getting awfully close to the $100 mark, does it have to be Brent, NYMEX, WTI, or all three hitting $100 to "count"?

[yesplease]

Definite splitting hairs, although it may not matter if OPEC cuts enough production. Although that has risks as well...

[NoWorries]

$this->bbcode_second_pass_quote('NoWorries', '[')i]Posted: Sat Aug 02, 2008 6:27 am Re: Trying to figure out where the oil price is headed:
As I predicted a couple of months ago in this forum: The big story by year end will be the Economic Crisis, not Peak Oil. As to how one will affect the other, I predict that oil will drop like a stone once the economy enters full-blown recession. By that I mean < $100 bbl.
However, there are at least 3 significant variables in the mix that could offset this price decline:
1--Hurricane in the Gulf of Mexico;
2--Israeli attack on Iran's nuclear facilities;
3--terrorist attack.
I would assign a greater than 50% probability that at least one of these events will occur by year end, and send oil prices to the $150 level at minimum by end of 2008.

[the48thronin]

bump is it time to update this pole