Do you think oil will hit $150 a barrel by July 4?

[quote name='ananag112'] Things are really not looking good right now. [/quote]

On a macro-economic level, yes. On my own personal level, no.

[quote name='Warren Buffett']"Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy when others are fearful."[/quote]

I agree w/ this sentiment. Investments should always be looked upon w/ cold hard logic hand-in-hand w/ fundamental human psychology. People are still in 'fearful' mode when it comes to oil. Still, this is only symptomatic of the trinity crises happening right now - the falling dollar and the mortgage & credit meltdowns. Fortunately, I had the foresight to get into commodities (and their related equities) early in 1999 and now I am rewarded for it.

That said, I will probably start shifting things away from commodities starting at the end of this month and onto upcoming trends (aside from those already in their particular markets), particularly 'green' initiatives (like solar panels or algae as biofuel) and healthcare (thank you Baby Boomers).
 
Oil went up what, $13 today? I'd say that there's a fair chance it'll hit $150 in the near future.



[quote name='VipFREAK']They'll keep raising prices as much as they want for the hell of it... :roll:[/QUOTE]

It's a conspiracy!
 
There has to be something we can do where boycotting isn't an option...

I'm afraid... nothing. :[

Fuel means everything I've ever read, consumed, or sat on.

Boo!
 
[quote name='VipFREAK']They'll keep raising prices as much as they want for the hell of it... :roll:[/quote]


true. this whole bs gas price hiking thing is all about money. the gvt wants the price to go up high when in reality theres plenty of other surces of oil in the world especially the united states. and i dont just mean in alaska. aside from that we need to use other fuel sources like sugar based gas i hear its working well in other countires. and yes gas will definelty go wel above 150 a barrel but youll see occasional drops in gas prices here and there especially when elections begin.
 
[quote name='HotShotX']$200/barrel by the end of 2008. I'm calling it.

~HotShotX[/quote]
I doubt that. There IS a point at which, people will be forced to stop buying gas. It's not in the best interest of the oil companies to have $200 oil. Who would buy it at that price? $150 by the 4th of July will probably happen, but I am inclined to believe that this bubble will sooner or later burst.

A lot of oils recent woes are due to the terrible US economy and falling dollar. It's almost to the point of "It can't get any worse, so the only way to go is up." I hate how fucking analysts putting out notes has such a huge effect. Joe Schmoe from Morgan Stanley says $150, so everyone panics, and the prices go up. It's bullshit. These analysts have way too much impact on the market.
 
[quote name='VanillaGorilla']I doubt that. There IS a point at which, people will be forced to stop buying gas. It's not in the best interest of the oil companies to have $200 oil. Who would buy it at that price? $150 by the 4th of July will probably happen, but I am inclined to believe that this bubble will sooner or later burst.

A lot of oils recent woes are due to the terrible US economy and falling dollar. It's almost to the point of "It can't get any worse, so the only way to go is up." I hate how fucking analysts putting out notes has such a huge effect. Joe Schmoe from Morgan Stanley says $150, so everyone panics, and the prices go up. It's bullshit. These analysts have way too much impact on the market.[/quote]

Totally agree with you there, and if oil prices switches from dollars to euros then they will spike the price up again even more.
 
$150 is pretty much a guarantee over the summer.

As for the long term, of course oil is only going to higher. It is a non-renewable resource that is in high demand. Thus prices will naturally trend higher until a reliable, cost effective and renewable alternative is widely available.

But regardless of how this plays out, I am absolutely loving this volitility.;)

BTW....those comments out of Israel basically saying that "an attack on Iran's nuclear plants is a matter of when, not if" certainly didn't help matters today.

Combine that with poor jobs numbers and oil supply problems in China and you've got a big drop in stock prices.
 
[quote name='Loonknight']Totally agree with you there, and if oil prices switches from dollars to euros then they will spike the price up again even more.[/quote]
$200 oil would mean airlines cutting back even further, auto makers (who are already fucked) getting killed, and a whole lot of other wide ranging effects other than just regular consumers getting boned by $6-7 gas. Sooner or later, all those Asian countries who are subsidizing gas out the ass will get sick of paying such ridiculous prices, as will America.
 
[quote name='BillyBob29']
As for the long term, of course oil is only going to higher. It is a non-renewable resource that is in high demand. Thus prices will naturally trend higher until a reliable, cost effective and renewable alternative is widely available.

[/quote]
Or, we can pull our head out of our green asses (wind/solar/corn power is the future! :roll:) and start building more refineries and finally start drilling in ANWR, the Gulf, and the East and West coasts.
 
We will have to find alternative fuel source. They is no other way around that fact. The demand for oil is only going to increase in time.
 
[quote name='VanillaGorilla']Or, we can pull our head out of our green asses (wind/solar/corn power is the future! :roll:) and start building more refineries and finally start drilling in ANWR, the Gulf, and the East and West coasts.[/QUOTE]

I agree but even if we started doing all of those today, it would still be YEARS, probably 5-10, before it would have a sizeable effect and in the meantime oil would only continue higher unless we get a downturn in demand from the BRIC nations.

If we wanted cheap oil today, we should have started doing all of that 15-20 years ago.

BTW....corn is a complete waste but both wind and solar to have a great deal of potential in the future. We also need to revisit nuclear for powering the national grid.
 
What ever Saudis say, thats what happens. So it all depends if their Dictator (?) wakes up on July 4th and is in a good mood or not.
 
[quote name='VanillaGorilla']Or, we can pull our head out of our green asses (wind/solar/corn power is the future! :roll:) and start building more refineries and finally start drilling in ANWR, the Gulf, and the East and West coasts.[/quote]

Sorry, but you are fucking retarded. Sure we can drill that, but when it runs out in 50 years we're fucked. As long as we have gas, it will continue to rise. Its that or war with Saudi. Take your pick.

OR

We could try to develop new stuff instead of sucking this rock we call Earth dry.
 
[quote name='VanillaGorilla']I doubt that. There IS a point at which, people will be forced to stop buying gas. [/quote]

Really insignificant in the grand scheme of things. Were the case that people actually to stop buying gas, we'd still need oil to make the other hundred thousand things we use in modern life like plastics, solvents, & chemical agents that act catalysts to make other things that are found in most modern conveniences such as electronics and automobiles. Were you to cut out gas, I could see a momentary price dip but prices will climb again due to demands from other industry sectors, particularly manufacturing & chemical engineering. Oil has far greater influence than gas alone.
 
The price of oil needs to be re-regulated. Someone goes out and says oil will be X by a certain time and the price skyrockets because investors want to make a easy buck.
 
[quote name='VanillaGorilla']I doubt that. There IS a point at which, people will be forced to stop buying gas. It's not in the best interest of the oil companies to have $200 oil. Who would buy it at that price? $150 by the 4th of July will probably happen, but I am inclined to believe that this bubble will sooner or later burst.
[/quote]

When it was $80 a barrel I'm sure you would of said that about $100/barrel. We NEED gas, there is no other option right now, if we don't have gas we CAN"T do anything, make the product, go to work to make the product, transport the products. NOTHING!
 
[quote name='VanillaGorilla']Or, we can pull our head out of our green asses (wind/solar/corn power is the future! :roll:) and start building more refineries and finally start drilling in ANWR, the Gulf, and the East and West coasts.[/quote]

Thats a temporary answer to the problem. Like putting a band-aid over a gunshot wound.
 
[quote name='BillyBob29']I agree but even if we started doing all of those today, it would still be YEARS, probably 5-10, before it would have a sizeable effect and in the meantime oil would only continue higher unless we get a downturn in demand from the BRIC nations.

If we wanted cheap oil today, we should have started doing all of that 15-20 years ago.

BTW....corn is a complete waste but both wind and solar to have a great deal of potential in the future. We also need to revisit nuclear for powering the national grid.[/quote]
It will take a long time to create those refineries, but people talk as if these "alternative energy sources" will just show up, and make everything better in the next year. THOSE sources will take even longer.

And as for the "we should have started doing that 15-20 years ago" part, you can blame Bill Clinton, everyones "Best President EVAR!!" for that. This country sat on their ass during the 90's, as gas sold for $1.20, and we were just content to not do anything at all.

As for the nuclear power comment, I agree. This country needs to seriously stop listening to dumbass hippies who think nuclear power is as dangerous now as it was 30 years ago. And it wasn't even THAT dangerous back then. How many people were killed or mutated or whatever by 3 Mile Island? Oh yeah, nobody at all.
 
[quote name='JolietJake']Thats a temporary answer to the problem. Like putting a band-aid over a gunshot wound.[/quote]America has enough oil in places we aren't drilling, to supply the country for the next 100 years, easily. I love this phonie crap about "OMG, the world is running dry of oil!" Bullshit it is.

I am not saying I am against alternative sources of energy. But those sources aren't going to just come along and fix everything. While we work on finding those sources, and developing them, so that they can be a cheap, realistic alternative to oil, we still need that oil to run our country. You can't develop alternative energy sources AND use them at the same time.
 
[quote name='VanillaGorilla']It will take a long time to create those refineries, but people talk as if these "alternative energy sources" will just show up, and make everything better in the next year. THOSE sources will take even longer.

And as for the "we should have started doing that 15-20 years ago" part, you can blame Bill Clinton, everyones "Best President EVAR!!" for that. This country sat on their ass during the 90's, as gas sold for $1.20, and we were just content to not do anything at all.

As for the nuclear power comment, I agree. This country needs to seriously stop listening to dumbass hippies who think nuclear power is as dangerous now as it was 30 years ago. And it wasn't even THAT dangerous back then. How many people were killed or mutated or whatever by 3 Mile Island? Oh yeah, nobody at all.[/QUOTE]

I agree. There is NO solution for tomorrow, we are stuck with high oil/gas prices, but what we can do is make sure that our children don't have the same energy problems that we do today. Solar and wind aren't solutions for tomorrow but just because they won't pay dividends for 10-15 years doesn't mean we shouldn't push them today and continue to make improvements to the technology. Just look at how much more efficient solar has become over just the past decade.

Yes our energy problem goes back before W, before Clinton and before Bush Sr. Both parties are responsible for sitting on their hands and doing absolutely nothing in terms of national energy policy for about the past 40 years. But then again, politicians want headlines and there just wasn't a solid headline for pushing for alternative energies when gas was under $1 a gallon in the 90's. But regardless, all the kool kids just like to blame it on Bush.;)

The French have a wonderful nuclear power program that is safe, cost effective and very efficient. I know it is basically treason to compliment the French for anything in some circles but you have to give them credit in terms of nuclear energy.
 
Because once we get more oil and prices go down, development of other energy sources will probably slow, it always happens. It takes high prices to get people off their comfortable asses and into R&D.

I think thats the reason why we weren't seriously researching alternatives in the 80s or 90s, nobody felt like we needed them. Oil was cheap and there was plenty of it, who needs other fuels?

Now thats changed, people are finally starting to wake up and realize the oil isn't going to last forever. Who's to say that if we did drill, we wouldn't have another shortage years from now? We need renewable energy, not something with a finite supply.
 
[quote name='VanillaGorilla']
I am not saying I am against alternative sources of energy. But those sources aren't going to just come along and fix everything. While we work on finding those sources, and developing them, so that they can be a cheap, realistic alternative to oil, we still need that oil to run our country. You can't develop alternative energy sources AND use them at the same time.[/QUOTE]

The use of alternatives, mostly wind, needs to increase. I heard on the news yesterday about some new building being built thats going to have wind generators on the roof that will power the elevators. Power the elevators? Whoopie fucking doo. I live on the coast of lake Ontario where pretty much everyday there is some wind. Put up some big fucking windmills (is that the correct term for them?). It will do a lot more that rooftop crap. The government needs to step up.
 
If i ever own my home (at this rate i don't know about that...) i hope to eventually have a roof made of solar panels installed. Considering the amount of sunlight that hits this place in the mornings, it should generate a considerable amount of power.

Is there any site that convert hours of sunlight into the amount of energy a panel would produce?
 
[quote name='JolietJake']If i ever own my home (at this rate i don't know about that...) i hope to eventually have a roof made of solar panels installed. Considering the amount of sunlight that hits this place in the mornings, it should generate a considerable amount of power.

Is there any site that convert hours of sunlight into the amount of energy a panel would produce?[/quote]

Really depends. The ones that are currently available don't have that great a conversion rate. However, there are new, cost-effective ones that will soon (if not already) hit the market. Their conversion rate however hasn't been tested.

EDIT: Actually, getting a home is probably easier now than ever since it's a buyer's market out there. Just be sure you can keep up w/ the mortgage & upkeep and definitely stay away from ARMs unless you've done the research (which most haven't which is part of the reason of the mortgage crunch).
 
[quote name='VanillaGorilla']America has enough oil in places we aren't drilling, to supply the country for the next 100 years, easily. I love this phonie crap about "OMG, the world is running dry of oil!" Bullshit it is. [/QUOTE]
Most of those sources were not economical to drill due to the expense involved, until now. We'll have plenty of oil, but the era of cheap oil is over.

Nuclear power is definitely the way to go, as well. Its currently the safest and most reliable form of power generation we have, but these ill informed hippies and NIMBY are holding it back. More radiation is released by coal plants in one year than has ever been released by nuclear plants.
 
$150 a barrel is approx how much $ per gallon?

We, at least my part of NJ, are nearing $4 everyday. The highest I saw today was $3.95 a gallon..the cheapest..$3.92 :bomb:
 
[quote name='lilboo']$150 a barrel is approx how much $ per gallon?

We, at least my part of NJ, are nearing $4 everyday. The highest I saw today was $3.95 a gallon..the cheapest..$3.92 :bomb:[/quote]

There's 30 gallons (US liquid unit) in one barrel.
 
But it's already like $3.90 a gallon :rofl:

It really would be like $4.50 and then some. Oh hell no. This is outta control.
 
[quote name='jaykrue']Really depends. The ones that are currently available don't have that great a conversion rate. However, there are new, cost-effective ones that will soon (if not already) hit the market. Their conversion rate however hasn't been tested.

EDIT: Actually, getting a home is probably easier now than ever since it's a buyer's market out there. Just be sure you can keep up w/ the mortgage & upkeep and definitely stay away from ARMs unless you've done the research (which most haven't which is part of the reason of the mortgage crunch).[/quote]
I meant more because of the unemployment rate than the housing market.
 
[quote name='VanillaGorilla']It will take a long time to create those refineries, but people talk as if these "alternative energy sources" will just show up, and make everything better in the next year. THOSE sources will take even longer.

And as for the "we should have started doing that 15-20 years ago" part, you can blame Bill Clinton, everyones "Best President EVAR!!" for that. This country sat on their ass during the 90's, as gas sold for $1.20, and we were just content to not do anything at all.

As for the nuclear power comment, I agree. This country needs to seriously stop listening to dumbass hippies who think nuclear power is as dangerous now as it was 30 years ago. And it wasn't even THAT dangerous back then. How many people were killed or mutated or whatever by 3 Mile Island? Oh yeah, nobody at all.[/quote]

Whelp gollie, Bush hasn't helped much either.
 
$8 per gallon by Christmas.

Good thing I found an apartment that's a 2 mile bike ride from my new job. Stay below $4/per until August 1st!
 
$5/gallon by X-Mas. Sorry little Timmy, your not getting that XBOX you wanted for Christmas, that money is going to Uncle Habbeeb Abdual Sheeriv.
 
Gas will go down once this war ends.

oilsince90.png


Or so I hope.

What's ridiculous is the fact that oil companies are now putting more and more ethanol into normal gasoline, which is currently cheaper than gasoline, yet not lowering the price of gas to reflect the cheaper cost of producing it. On top of that, ethanol gets fewer MPG than gasoline. So we're getting shitty gas, lower MPGs, and for the exact same price.
 
I read a financial/macro article written by some famed trader of commodity goods who predicts oil will hit 300$ a barrel by the middle of next year...200 by the end of this year seems quite likely.

God damn, coupling the huge spike in oil today with the unemployment numbers released royally fucked the stock market today... hopefully the 3G phone announcement on monday for the iphone will spike apple's share price considerably and make me all smiles again.
 
[quote name='jaykrue']Sorry, I copied the wrong result. It's 42 not 30.

so 150/42 = 3.57

so you figure transportation & brand markup for the rest.

http://www.onlineunitconversion.com/volume.html[/QUOTE]

"Transportation and brand markup?" Refining the crude oil isn't cheap, you know.

[quote name='Limpbizkit182521']The price of oil needs to be re-regulated. Someone goes out and says oil will be X by a certain time and the price skyrockets because investors want to make a easy buck.[/QUOTE]

This is why I'm hoping prices will fall sooner rather than later - this entire fucking price increase is due to speculation. Yes, there is a limited amount of oil and prices will increase over time, but we're a lot farther up the curve than we should be right now, and that's all due to this artificial inflation.

[quote name='KillJoi99']What ever Saudis say, thats what happens. So it all depends if their Dictator (?) wakes up on July 4th and is in a good mood or not.[/QUOTE]

[quote name='KillJoi99']$5/gallon by X-Mas. Sorry little Timmy, your not getting that XBOX you wanted for Christmas, that money is going to Uncle Habbeeb Abdual Sheeriv.[/QUOTE]

Since nobody's said it yet, I will: you're an idiot, and possibly racist. Hard to tell the latter definitively from two posts, but the former's pretty clear.
 
Absolutely this shit is going to $150 if not higher. fuck, not to sound conspiratorial, but why the fuck do you think they're writing about $150 price points (not sure if anyone else has mentioned this)? This is all merely to prime us for it. They know without a doubt it's hitting $150. You'd have to be either in shock from how fast it shot up today, or incredibly naive, to think otherwise.
 
It is a limited, archaic resource that needs an alternative to stick it to those plagued with greed and keep things the way it is.
 
For those suggesting that nuclear energy is the best solution to our energy problem, what are we going to do with nuclear waste? We really don't have a good alternative energy that is as cheap, reliable, and as efficient as oil.
 
[quote name='btw1217']

What's ridiculous is the fact that oil companies are now putting more and more ethanol into normal gasoline, which is currently cheaper than gasoline, yet not lowering the price of gas to reflect the cheaper cost of producing it. On top of that, ethanol gets fewer MPG than gasoline. So we're getting shitty gas, lower MPGs, and for the exact same price.[/QUOTE]

Not to mention higher food prices because of it. And the fact that it costs more to produce ethanol than the energy you save using it.

$150/Bbl is a certainty.
 
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