[threadbear]

$this->bbcode_second_pass_quote('joeltrout', '')$this->bbcode_second_pass_quote('threadbear', '
')
The prices have doubled in less than 2 years, and have gone up 40% in just a few months. A 40% retracement is a strong possibility,

[Eli]

CNBC is a bunch of media whore cheerleaders, they are not making a point they are just trying to keep spirits up.

Actually if they would think about what they are saying they would realize how truly dire the situation is right now.

The dollar is the worlds reserve currency, and sure if Oil was priced in Euros it would be numerically cheaper than in dollars. Too bad we would still have to pay in dollars and our dollars are worth less and less. If they would think for half a second about what would happen if oil does start being priced in Euros around the globe what happens then?

I will tell you, Oil is no longer 126 a barrel it is 226 and rising. Nations around the globe would dump the dollar and quit holding it. Our National Government would be rendered insolvent and other nations would quit buying our debt. Interest rates on everything would shoot up over night and the US economy would be done.

[bodigami]

$this->bbcode_second_pass_quote('dblk', '~')$126 just wow. $150 by the end of June?

[UncoveringTruths]

What is causing the run up?

1. Speculators and hedge fund managers bidding up the price of oil on the World Markets. Spank their wankers says the lawmakers.

2. The value of oil denominated in the lagging dollar. The .75 cent dollar bill.

3. Peak Oil supply not meeting demand. The end is nigh! So drink heavily.

4. Lack of investment into future projects. How much do you want for that piece of scrap steel.

5. It doesn't matter the stuff is just going to get more expensive.

6. It’s the aliens fault for not coming sooner.

7. All the above.

I probably have missed a few other speculations of why the run up is happening. But one thing is for sure the signals are ominous.

[PeakingAroundtheCorner]

$this->bbcode_second_pass_quote('threadbear', '')$this->bbcode_second_pass_quote('PeakingAroundtheCorner', 'B')WAAAaaaa!1!!

CNBC just said we're all over reacting to the high price of oil. Seems oil is getting so expensive because "We denominate the value of oil in Dollars and so oil has risen by 100%. But if we denominated oil in Euros, you would see that oil has only increased by 50%, which is only half of the value of oil denominated in Dollars."

[RedStateGreen]

$this->bbcode_second_pass_quote('dblk', '~')$126 just wow. $150 by the end of June?

[heroineworshipper]

Bernanke's April 30 statement is priceless.

> The Committee expects inflation to moderate in
> coming quarters, reflecting a projected leveling-out
> of energy and other commodity prices

[Gandalf_the_White]

$this->bbcode_second_pass_quote('threadbear', '')$this->bbcode_second_pass_quote('joeltrout', '')$this->bbcode_second_pass_quote('Novus', 'T')his run only has a few more dollars to go before we see another pull back. Whenever something goes up $10 in a week that is speculators. Fundamentals support slow increases over a long period of time. Going back from $30 to $60 took two years and going from $60 to $120 took two more years.

[TheDude]

$this->bbcode_second_pass_quote('PeakingAroundtheCorner', 'I') thought it was kinda funny that they want us to think of oil prices in Euros so that it won't seem like it's going up so much.

[oowolf]

$150: July 28

[shortonoil]

$this->bbcode_second_pass_quote('', 'A') 40% retracement is a strong possibility, providing the American dollar doesn't weaken appreciably.

[Jack]

$this->bbcode_second_pass_quote('oowolf', '$')150: July 28

[Daculling]

$this->bbcode_second_pass_quote('vision-master', '')$this->bbcode_second_pass_quote('Ferretlover', '$')125.26 @ 7:28 am CT.

[AlCzervik]

$this->bbcode_second_pass_quote('frankthetank', 'P')up-
My brother that kind of gets it (the part about us being doomed) says the same exact thing. He has to have it. The stuff is more addicting then any drug out.

[Homesteader]

[quote="AlCzervik"

I think somebody has this in his/her sig, but Vonnegut was right.

$this->bbcode_second_pass_quote('', 'H')ere’s what I think the truth is: We are all addicts of fossil fuels in a state of denial, about to face cold turkey.

And like so many addicts about to face cold turkey, our leaders are now committing violent crimes to get what little is left of what we’re hooked on.

[Armageddon]

Which comes first, back to $100.00, or up to $150.00 ?

[shortonoil]

Armageddon said:

$this->bbcode_second_pass_quote('', 'W')hich comes first, back to $100.00, or up to $150.00 ?

[Revi]

I hope it comes down a bit around June, so I can buy next winter's heating oil. It's probably going to retrench a bit, when people take profits. Nothing heads straight up without backing off once in a while.

Just my guess. I have been wrong before.

[Ferretlover]

$this->bbcode_second_pass_quote('Daculling', '')$this->bbcode_second_pass_quote('vision-master', '')$this->bbcode_second_pass_quote('Ferretlover', '$')125.26 @ 7:28 am CT.

[dohboi]

threadbear wrote:

"The prices have doubled in less than 2 years..."

Prices have been doubling about every two years since 2000 when they were way down around $10! I see no end in sight for this exponential curve, except perhaps the end of the grand old USD.

Most of the MSM will stay in denial mode, and they're explanations and rationalizations will get wackier and zanier, but many will believe because they need to.

So even as we slide toward the end, there is essentially no discussion at the highest levels of policy making about taking measures that might have some chance of slightly cushioning the blow and plan for the next stages. Everyone living today has lived their whole life in a world of ever-increasing oil availability, so it is nearly impossible for pretty much anybody to imagine a world with ever-decreasing oil availability.

We are so beyond screwed.