Oil how high can it go?

[brettdale]

$113 a Barrel.

Yeppers , its getting to the satirical stage.

Will we see $200 a Barrel Oil?

But hey according to Bill O'Reilly the President has no effect on the economy, whatsoever.

[JCMach1]

1. 30-40 of that is speculation at this point

that doesn't mean it's coming down any time soon

[liberal N proud]

2. $200/ barrel would be the fatal blow to this economy

You would see starvation in this country like hasn't been seen since the Great Depression.

[JustABozoOnThisBus]

4. Oil is the new buffalo

The white U.S. govt sponsored the eradication of buffalo to starve and conquer the plains natives.

Who wins when the oil runs out? Hint: It's not me.

:scared:

Disclaimer: This is a half-baked idea. I'm not yet convinced that an oil crisis would be a MIHOP, maybe just a LIHOP.

[elizfeelinggreat]

17. whoa

Your post just reminded me of Jimmy Carter and how he handled the last oil crisis - and look what the republicans managed to do to him. Quite a set-up, huh?

[Tesha]

3. As it becomes more and more scarce, it can get a lot more expensive.

Eventually, it's price will be capped by the fact that
alternatives will become economically viable. For example,
at $200/bbl, you can probably make some money harvesting
oil sands and tar shales. Or even chemically modifying
plant oils.

Tesha

[Strelnikov_]

14. But where does the energy come from?

Tar sands, shale, deep water, marginal formations (Bakken, etc.) yield little in the way of energy (EROEI<=3).

[Tesha]

15. Yes, but awful though it is, the yield is still positive.

And a few radical technologies (such as nuclear-powered
retorting) could produce lots of oil with little on-site
emissions of CO₂.

And desperate people will grasp at any straw, no matter
how awful, rather than break their addiction to liquid
fuels.

Tesha

[Strelnikov_]

16. Yes, that is what I fear

Nuclear power to cook off tar sand. Wind farms in the stranded wind resource of Wyoming to provide power to cook off the pre-oil shale. CTL, GTL, any thing to keep this societal arrangement without a future motoring along for a few more years.

[ladjf]

5. The rising will stop when the price reaches a level that has

allowed alternate energy sources to be cheaper than oil. (And for certain types of alternate energies, that is already the case.)

[Imagevision]

6. Ask yourself, if you were bush&Cheney how high would you want it to be before

the Dem's are slid into place to take it all down...

[brettdale]

7. $115

$115

[slampoet]

8. Actually Oil isn't rising. The Value of the dollar is falling.

Everything is getting more expensive, not just oil.

[Jamastiene]

9. I'm afraid to find out.

To be honest about it, I'm afraid to ask that question. OPEC might just answer with a "Muahahahaha, as high as WE want it to go!" Unfortunately, because of so much resistance to studying and inventing alternative forms of energy, they can do that.

[NickB79]

10. How much ya got? nt

[tom_paine]

11. That question is dependant on how low the dollar can go.

$200/bbl. oil is a certainty. Not if, but when. Sooner or later it will happen. If the nation continues to be looted and McBush continues printing money crazily after he is awarded the Imperial Throne in November (which he almost certainly will), then the dollar will continue to rapidly plummet and it will be MUCH sooner, possibly as quickly as 2010.

We shall see. I don't think this nation has ever been looted so thoroughly by such a ruthless bunch of criminals, so we are certainly in uncharted territory. Pinochet/Marcos territory.

Amerika is now a Third World Nation: media, economy, wealth distribution, debt, political system, infrastructure...hell, I can't think of even ONE thing that is still First World about our Oligarchic Empire.

First World Pizza Delivery? Maybe we still have that going for us.

[ThomWV]

12. All bubbles burst, this one will too.

And speculators all over the world will be singing the blues.
By the way, the price you see quoted every day has nothing at all to do with how much oil compaines pay for their crude. That is a spot market price.

[sendero]

13. I have a "theory"..

.... about all this.

I, like most of us I think, thought biofuels were a good idea. Then, also like most of us, when the effects on food prices and the concepts of "net energy gain" were better understood, I changed my mind.

But now I can't help wonder. Is the whole biofuels thing about squeezing food supplies for countries that can produce oil but have to import a lot of their food?

After all, they have the fortune of sitting on oil fields, we have the fortune of sitting on arable land.

Just a thought.

As for oil prices, I think there is speculation involved also, but I also think we'll NEVER see prices below $70-$80 again, no matter what. Oil is running out. The people who have it want top dollar for their dwindling reserves. It's a fact everyone might as well get used to.