What is your guess: future of oil prices?

[scott_vt]

There's a temporary dip in demand due to global economic slow down but just wait til China starts growing again and gets her license, we're gonna be right back to where we were last year.

Good Mornin John,
I have to agree with that statement ! As long as the global economy is kept in check to some degree, demand is down keeping a lid on any real drastic increases in oil !

But I also have to agree with what Jim mentions, that any calamity that comes along whether its the weather or something else, that can destabilize the oil market very quickly !

 

[pappy19]

With our new President spouting that he is going to bankrupt the coal industry and go "green" whenever possible, you can count on oil and gasoline to go back to $4.00 within a year or less. Either by taxing or by shutting off supply, it will happen. He has basically said that's what he will do, so why should we doubt it. Stock up...along with your ammo.

 

[jgrreed]

Have we all forgotten that all it takes is a couple of bad hurricanes or political unrest to destabilize oil markets?

E X A C T L Y. . . . .

-Jer.

 

[foggy1111]

I'm not sure when we will see higher oil prices....but we WILL see em...and high level inflation in lots of other commodities too. Right now we are in deflationary times mostly due to our #$%^&* banking practices....but when things turn....oil WILL go UP. The Arab countries need to take dollars for oil...no other currency....oil is priced in DOLLARS. The big deficits the USA is creating wont help the value of our dollars...at least in the long run. When (hopefully its "when" and not "if") the economy recovers....so will oil....then LOOK OUT. I just feel like any way you slice it.....we are screwed.

OK....rant over.

 

[charlz]

The run up in oil prices was definitely caused by speculators. There as never a shortage, all the oil terminals were full the whole time. It collapsed because the price wasn't sustainable. Eventually demand dipped, the psychology changed and everyone got out of oil. Free market theory at work.


I have a more or less real time feed of oil contract prices that I can watch. During the run up prices points were changing a few times per second. Now they change once about every 10 seconds or so. At the time you could make good money buying and selling oil contracts.... who wouldn't want a piece of that?