Lets see who can get close to the actual amount crude oil will be in six months time. The winner will receive via email a case of beer or a carton of cigs of his or her choice. Good luck
my quess is that it will be $ 48 usd
PeakOil is You
How low will crude oil go?
First unread post • 9 posts
• Page 1 of 1
How low will crude oil go?
by hydrocarbon » Tue 11 Nov 2008, 20:11:48
-
hydrocarbon - Wood
- Posts: 7
- Joined: Wed 23 Jul 2008, 03:00:00
Re: How low will crude oil go?
by AgentR » Tue 11 Nov 2008, 20:26:59
I will require French wine, preferably reds, for the wisdom of my predictions...
$40
Production starts to collapse here, while inherent desire to consume the stuff remains and growth is pushed by the continuous increase in population and consumption in India and China.
When desire to consume passes the desire to produce by a significant margin, there'll be a new spike that'll make this last one look like a speed bump.
$40
Production starts to collapse here, while inherent desire to consume the stuff remains and growth is pushed by the continuous increase in population and consumption in India and China.
When desire to consume passes the desire to produce by a significant margin, there'll be a new spike that'll make this last one look like a speed bump.
Yes, we are. As we are.
And so shall we remain; Until the end.
And so shall we remain; Until the end.
-
AgentR - Heavy Crude
- Posts: 1946
- Joined: Fri 06 Oct 2006, 03:00:00
- Location: East Texas
Re: How low will crude oil go?
by GoghGoner » Tue 11 Nov 2008, 23:23:09
It has to go back above 70.
From a recent article:
$this->bbcode_second_pass_quote('', '"')Oil sands and gas shales in North America and deepwater projects do not work at $60 oil. The problems are oilfield service costs are too high and we need to change this for projects to go ahead,” Mr Simmons told Lloyd’s List at the Oil & Money Conference in London on Tuesday.
From a recent article:
$this->bbcode_second_pass_quote('', '"')Oil sands and gas shales in North America and deepwater projects do not work at $60 oil. The problems are oilfield service costs are too high and we need to change this for projects to go ahead,” Mr Simmons told Lloyd’s List at the Oil & Money Conference in London on Tuesday.
- GoghGoner
- Heavy Crude
- Posts: 1827
- Joined: Thu 10 Apr 2008, 03:00:00
- Location: Stilłwater subdivision
Re: How low will crude oil go?
by AgentR » Tue 11 Nov 2008, 23:28:58
$this->bbcode_second_pass_quote('GoghGoner', 'I')t has to go back above 70.
It'll go alot higher than that, but we're talking about where the next minimum price occurs before it starts back up.
Yes, we are. As we are.
And so shall we remain; Until the end.
And so shall we remain; Until the end.
-
AgentR - Heavy Crude
- Posts: 1946
- Joined: Fri 06 Oct 2006, 03:00:00
- Location: East Texas
Re: How low will crude oil go?
by smallpoxgirl » Tue 11 Nov 2008, 23:43:28
I'm predicting that oil will become free.
That should happen right after Bernake cuts the fed rate target to negative 12%.
Seriously though, it's really hard to predict. The current drop is mostly about economic shuffling which has sent the dollar on a meteoric rise over the last three months. When that snaps back, we're going to be in for a very nasty surprise.
That should happen right after Bernake cuts the fed rate target to negative 12%.
Seriously though, it's really hard to predict. The current drop is mostly about economic shuffling which has sent the dollar on a meteoric rise over the last three months. When that snaps back, we're going to be in for a very nasty surprise.
"We were standing on the edges
Of a thousand burning bridges
Sifting through the ashes every day
What we thought would never end
Now is nothing more than a memory
The way things were before
I lost my way" - OCMS
Of a thousand burning bridges
Sifting through the ashes every day
What we thought would never end
Now is nothing more than a memory
The way things were before
I lost my way" - OCMS
-
smallpoxgirl - Expert
- Posts: 7258
- Joined: Mon 08 Nov 2004, 04:00:00
Re: How low will crude oil go?
by eastbay » Tue 11 Nov 2008, 23:52:48
On May 11, 2009, NYMEX crude (would that be the June, '09 contract?) will be $130.00/bbl.
Not a penny less.
Not a penny less.
Got Dharma?
Everything is Impermanent. Shakyamuni Buddha
Everything is Impermanent. Shakyamuni Buddha
-
eastbay - Expert
- Posts: 7186
- Joined: Sat 18 Dec 2004, 04:00:00
- Location: One Mile From the Columbia River
9 posts
• Page 1 of 1
Who is online
Users browsing this forum: No registered users and 0 guests