Will Oil Hit $70

[wwtraveler99]

I would like to hear why or why not.


I say it will get to 70 before year's end. Why?

Because a lot of analysts think it will go to the 40's.

 

[BoeingBoy]

Watch TS Dennis - if it intensifies as forecast and follows the course of Ivan, oil may hit $70 in the next week or so.....

Jim

 

[uafa21]

Analysts have oil expected to go to $100 by winter. If true gas will be close to $4 a gallon at the pump.

 

[jimntx]

The real question is not WILL oil hit $70/bbl, it's WHEN will oil hit $70/bbl. And, as a followup, will it stay there, continue up, or drop into a more reasonable range--like $55/bbl.

 

[NewHampshire Black Bears]

The real question is not WILL oil hit $70/bbl, it's WHEN will oil hit $70/bbl. And, as a followup, will it stay there, continue up, or drop into a more reasonable range--like $55/bbl.

[post="280643"][/post]​

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Jimntx,

Oil will NEVER go down(AND STAY FOR ANY EXTENDED PERIOD) to $55.

Now If we'll see it go to $100 a bbl. anytime soon, remains to be seen.

As long as the GOP stay's in majority power, for oil, the "sky's ($$) the limit".

Why, did someone ask ??

BECAUSE THEY ARE THE PARTY OF BIG BUSINESS, AND BIG BUSINESS LOVES TO MAKE TON'S, AND TON'S, and TON'S of money !!

Plus I can't think of too many business's BIGGER than OIL !! It's so FRIGGIN" simple to figure out.
The rich get RICHER, the poor get POORER, and the middle class went the way of the "hula hoop".

Ah, but not to fret all you SUCKERS, who are not now, or never will be rich. You just keep going into those voting booths and pulling that "R" lever !!!!!

I swear, I will NEVER understand the "stupidity factor" in some people's thinking !!

NH/BB's

 

[corl737]

I swear, I will NEVER understand the "stupidity factor" in some people's thinking !

[post="280694"][/post]​

I agree with your statement ... who with a sane mind would EVER vote that "D" lever!

(Hey, you started it! )

 

[coolflyingfool]

At $70 - airlines will fall at an incredible rate, probably losing 2 or 3 for sure. just my thoughts...............

 

[KCFlyer]

I agree with your statement ... who with a sane mind would EVER vote that "D" lever!

(Hey, you started it! )

[post="280727"][/post]​

Here in Red State Kansas, I've often thought of running my yellow Labrador on the Republican ticket...I think she'd win - that's how most folks in this state vote...look for the R and pull the lever. Just look at what the R's have accomplished in this state...marriage is 'protected' - this is very important to farmers, as many were apparently contemplating marrying their horse (or at least that's what the proponents of the marriage bill were using as an illustration) Creationism is now taught in science class - again, very important to farmers and might help lure business to the bigger cities. The state supreme court had to intervene in school funding since the mostly R legislature wasn't willing to address the shortfall in education funding.

 

[Whadayano]

Dennis could get it to $70 fast. But if not, Opec seems to be running an experiment to see where the break point for the global economy is. If it isn't $60, then they'll make a run at 70. By the way, more businesses are hurt by high oil than helped. If businesses got to set the oil price, it would be in single digits (what a dream for airlines!)

 

[NewHampshire Black Bears]

Here in Red State Kansas, I've often thought of running my yellow Labrador on the Republican ticket...I think she'd win - that's how most folks in this state vote...look for the R and pull the lever. Just look at what the R's have accomplished in this state...marriage is 'protected' - this is very important to farmers, as many were apparently contemplating marrying their horse (or at least that's what the proponents of the marriage bill were using as an illustration) Creationism is now taught in science class - again, very important to farmers and might help lure business to the bigger cities. The state supreme court had to intervene in school funding since the mostly R legislature wasn't willing to address the shortfall in education funding.

[post="280741"][/post]​

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"Howdy" KCF,
ALWAYS good to see you on the boards, EVEN when you may not agree with me !!

Whats gas(reg) going for ($) in KC Kansas ???

Yellow Labs, EXCELLENT dogs !!!!!!!!!!!

Take care

NH/BB's

 

[Bear96]

If businesses got to set the oil price, it would be in single digits (what a dream for airlines!)

[post="280812"][/post]​

What on Earth does that mean? Businesse DO set the price -- the more they buy, the higher the price goes.

And if oil were only allowed to be sold in the single digits, there would soon be no oil at all for businesses to buy, because it would be impossible to get it out of the ground and refine at such prices.

Airlines would not like that at all.

 

[autofixer]

Oil prices have very little to do with the party in power ... Oh! I forgot! Environmental regulations (legislation) that do not allow us to drill for oil in a lot of places domestically, thus, ensuring our dependance on hostile oil sources and forcing us into wars in a part of the world where we have very little reason to be (other than oil), thus creating hostility from the local religious leaders who gin up a hate culture toward us (Let's dredge up the past sins of the crusaders) and blow up our buildings. Remember "The Evil One's" initial complaint was that US troops were defiling Saudi Arabia the "protectorate of the faith".

Remember how the Alaska pipeline was going to destroy Alaska and cause the Caribou herd to die off? If it were today, the Alaska pipeline would never get off the drawing board. And what of the Caribou herd? The love the heat from the pipeline and their ranks have actually increased.

We need a real energy policy that allows the US to tap its vast oil reserves, for the short term, while focusing on other sources of power for the long term (Nuke, fuel cells, hybrid, things we can't imagine yet, etc.). Then we can get back to not giving a hoot as to what happens in Southwest Asia and they can sell their oil to China all day long.

 

[Busdrvr]

What on Earth does that mean? Businesse DO set the price -- the more they buy, the higher the price goes.

And if oil were only allowed to be sold in the single digits, there would soon be no oil at all for businesses to buy, because it would be impossible to get it out of the ground and refine at such prices.

Airlines would not like that at all.

[post="281003"][/post]​

I think he is refering to the estimated price of oil if it were set by a completely competative market.

The price of oil is essentially controlled by the swing producer. It's a "dominate firm/competative fringe" model whereby the competative fringe (everybody but the largest OPEC producers) produces flat out and are "price takers", they don't influence price much and therefor have nothing to gain by witholding small amouts from the market. OPEC (primarily the Saudi's) are the only ones that have enough capacity to to control price. The trick has been to get oil prices high enough to have greater than comp market prices, while low enough that the "competative fringe" don't explore to the poiint thatthey lose control of the market. I've heard comp market estimates of $9 a barrel, but I think they are no longer valid, especially with OPEC producing flat out.

 

[Bear96]

Airlines should just get in the oil drilling and refining business then, if they could supply themselves oil for $9 / barrel so easily.

 

[Busdrvr]

Airlines should just get in the oil drilling and refining business then, if they could supply themselves oil for $9 / barrel so easily.

[post="281074"][/post]​

Well if you also gave them mineral rights in the middle east, then it'd be no problem.... The study that cited the low price was pre-2004 and I think assumed that places like Saudi, Kuwait and Iran could be drilled at will like much of the rest of the world