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Thread: Oil reaching into $75 per barrel?

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    God/dess Deogol's Avatar
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    Default Oil reaching into $75 per barrel?

    CNBC has a poll going on about oil reaching $75 a barrel over the coming months.

    Personally, when oil was at "record highs" of $54/brl I was thinking that forecasts of oil reaching $70/brl were a little out of line.

    These days, being about 5 dollars away from $70 dollars, I am accepting my ignorance of the oil market.

    Now these guys are saying it could hit $75 a barrel!

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    Default Re: Oil reaching into $75 per barrel?

    Welcome to the gasoline deprived 21 st century. I note the company buying Unocal has
    continuing high gas prices factored into their bid price. They think that is a good bet
    that gas will be over $3.00 gal.
    The whole country will need to switch to hybrid vechicles. At least a ten to 15 year
    conversion of ground car propolusion plant program needed, starting ther sooner the better. At least we have hybrid vehicles to switch to.

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    God/dess threlayer's Avatar
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    Default Re: Oil reaching into $75 per barrel?

    If gasoline prices continue to climb at this rate, the economic gurus will be expecting a worldwide economic slump, recession, etc. Hard to say where it will hit first, second etc. but it could last well beyond the timethat prices return to normal.
    Gasoline is affected by refinery output, worldwide demand, production problems (including Iraq and maybe soon Saudi Arabia oif terrorists strike there). These things all sound negative and entirely possible to me.
    Problem is that we have no real means to substitute, only to reduce consumption moderately. That may mean methanol mixtures, more advanced hybrid vehicles, etc. Recent energy legislation may help a bit in the long term, but they forgot about MPGs from detroit and other carmakers. In any case replacing significant numbers of current vehicles has at least a 10-15 year lag.
    Unless production security and moderation of demand occurs very soon (unlikely), prices can only go a lot higher. If large short term moderation occurs it will be the result of the predicted coming recession.
    This is basically a supply and demand situation, though the supply and demand components are very complicated.
    I loved going to strip clubs; I actually made some friends there. Now things are different for the clubs and for me. As a result I am not as happy.

    Customers are not entitled to grope, disrespect, or rob strippers. This is their job, not their hobby, and they all need income. Clubs are not just some erotic show for guys to view while drinking.

    NOTE: anything I post here, outside of a direct quote, is my opinion only, which I am entitled to. Take it for what you estimate it is worth.

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    Senior Member Underestimated's Avatar
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    Default Re: Oil reaching into $75 per barrel?

    I used to drive a F150. I bought my Miata and everyone thought it was cheesy. Ahhh...

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