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Holy Cow! Unrest 'could' Double Oil Prices

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posted on Jun, 27 2005 @ 06:19 PM
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The price of crude oil could soon reach $100 a barrel, compared with the present historic high of $60, if there was further supply disruption in Russia or a political upset in Saudi Arabia, a leading German institute said.

The IFW World Economics Institute in Kiel said that any number of "unwelcome developments" could provoke a crisis. Given that the industry was already producing at full capacity to meet soaring demand in China and India, there was almost no margin to absorb a sudden supply shock.


Unrest 'could double' oil price


Oil at over $100 a barrell? Is this even possible? What would that make the price of a gallon in the US?



[edit on 6/27/2005 by Trojanex]




posted on Jun, 27 2005 @ 07:00 PM
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If you have a supply disruption, sure its possible. I don't think it can stay that high for long, but it can certainly hit a temporary peak over $100/barrel. On a per gallon basis, it would probably equal a price of around $3.50-4.00 per gallon.



posted on Jun, 27 2005 @ 08:12 PM
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so $ 4.00 per gallon US............hmmmm.....and for us Canadians
etc. etc.

How much per litre of gazzzzzzz ?

Eq: 1 gallon = 3.785412 litres

But with the (average) exchange rate ?

What price y'a figure.....?

Y'r Canadian Friend Sven



posted on Jun, 27 2005 @ 08:15 PM
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Just a thought....


Maybe we should get a thread on here for keeping trace of the prices at the pumps "now".....then we can all say....dam remember back in the old day'zzzz
we paid no more then' 2 bucks a gallon


Y'r Canadian Friend Sven



posted on Jun, 27 2005 @ 08:17 PM
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Originally posted by Trojanex

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Thats what that guy in the pic is saying too.... "Holy cow! Look at the price!"

Yeah it would get near $4. May not hit $4 but that doesnt matter, it will hurt either way.



posted on Jun, 27 2005 @ 08:19 PM
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It could potentially be much higher than four bucks. Consider that when fuel prices go up, it doesn't just cost companies more money to buy the stuff to sell to you, it also costs them exponentially more money to ship the product.

This also has to be factored into consumer cost.



posted on Jun, 27 2005 @ 08:19 PM
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Sounds like I should buy that solar power scooter I've had my eye on.

Of course, that won't help with the high price of everything that oil goes into - or that oil transports.



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