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ckirmser
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Oil Prices Continue To Rise
Well, oil futures went above $122 today, based on a Goldman-Sachs prediction that it could go to $200 in two years.
quote:
Oil prices have nearly doubled from about $62 a barrel a year ago, which Goldman sees as a sign that the world is in the midst of a "super spike" in oil prices. Analyst Arjun Murti said in a research note released Monday that prices would ultimately force demand to fall sharply.
The key word, as I see it here, is "spike."
Not plateau, not level, but spike.
That implies a sharp drop after the peak is reached.
So, are we seeing the next bubble? Tech, housing, oil?
Might there be an oil bubble burst?
--- I am wracked with such hearty guffaws that in addition to rolling to and fro on the floor, my posterior has separated itself from my body.
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5/6/2008, 11:34 am
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llovejim
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…
last i saw that happen it was on my 96 Nova...it was my oil filter, though, not really a burst oil bubble.
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5/6/2008, 11:48 am
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steveatl
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Are you so sure it's a spike? can you back up your wild speculations with some facts, please?
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"McCAIN-PALIN: A BRIDGE TO NOWHERE"
One House One Spouse Obama 08!!!
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5/6/2008, 11:50 am
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ckirmser
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Re: …
quote:
steveatl wrote:
Are you so sure it's a spike? can you back up your wild speculations with some facts, please?
Goldman-Sachs called it a spike, not me.
Try reading the article, if you are able.
Or, is it beyond your Rutgers education?
--- I am wracked with such hearty guffaws that in addition to rolling to and fro on the floor, my posterior has separated itself from my body.
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5/6/2008, 12:11 pm
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poebassman
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Re: …
quote:
ckirmser wrote:
quote:
steveatl wrote:
Are you so sure it's a spike? can you back up your wild speculations with some facts, please?
Goldman-Sachs called it a spike, not me.
Try reading the article, if you are able.
Or, is it beyond your Rutgers education?
Arjun Murti has done this before in 2005. Funny thing is that he does this just after Goldman-Sachs offers petroleum companies.
Hmmmm .... I bet he makes alot of money as the petroleum futures soar. What do you think?
"the sky is falling, the sky is falling... buy my super umbrellas and you'll be safe"
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5/6/2008, 12:24 pm
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seymore1970
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We can only hope so, or not, if not means we finally make ourselves independant.
Personally, I'm for a $1 a gallon tax on gas...that'll get the alt and domestic energy wheels turning...
I'll bet we could do it in five years, or alt least have a really decent start on it...
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5/6/2008, 12:25 pm
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ckirmser
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Re: …
quote:
seymore1970 wrote:
Personally, I'm for a $1 a gallon tax on gas...that'll get the alt and domestic energy wheels turning...
Yes, there are many elected members of the House willing to sacrifice their political careers on this altar.
--- I am wracked with such hearty guffaws that in addition to rolling to and fro on the floor, my posterior has separated itself from my body.
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5/6/2008, 12:32 pm
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ckirmser
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Re: …
quote:
poebassman wrote:
Hmmmm .... I bet he makes alot of money as the petroleum futures soar. What do you think?
Probably a good bet.
But, it can only go so far.
There will be a point where oil either won't sell, or a war will start over control of the resource.
My money's on war...
--- I am wracked with such hearty guffaws that in addition to rolling to and fro on the floor, my posterior has separated itself from my body.
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5/6/2008, 12:35 pm
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poebassman
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Re: …
quote:
seymore1970 wrote:
We can only hope so, or not, if not means we finally make ourselves independant.
Personally, I'm for a $1 a gallon tax on gas...that'll get the alt and domestic energy wheels turning...
I'll bet we could do it in five years, or alt least have a really decent start on it...
Nope.. businesses need to travel. They'll pay it. People need to go to work. They'll pay it.
I think you are looking at the wrong direction. You are asking people to stop using gas. That won't happen ... at least not in the near future. We have the technology to make cars with incredible gas mileage. This would add surplus causing the oil to drop. Why is the technology being deployed?
In Europe... cars on average get 40 mpg. Why not here?
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5/6/2008, 12:35 pm
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ckirmser
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Re: …
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poebassman wrote:
In Europe... cars on average get 40 mpg. Why not here?
Different logistics.
And, different laws. Europe is not under California Air Quality Standards laws.
Almost any European car can be had here in the US. Why do they not get the same gas mileage here as in Europe?
Because, in Europe, they do not suffer from the same air quality devices saddled on them in the US. Devices that suck the mileage away.
--- I am wracked with such hearty guffaws that in addition to rolling to and fro on the floor, my posterior has separated itself from my body.
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5/6/2008, 12:44 pm
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