Will Oil Go To $100.00 Dollars A Barrel????

Fox news just reported that the national average for gas just went over $3.19 a gallon for gas and there is no end in sight for this if the Israeli conflict escalates even more ........

Oil prices settled at a record above $76 a barrel Thursday in a market agitated by escalating violence in the Middle East and the threat of supply disruptions there and beyond.

www.forbes.com...

I knew I should have filled up my vehicle this morning

Yeah i've heard about it too yesterday.

Maybe there will be another oil boycott just like what happened in the seventies (or was it the eighties?). Anyways the situation isn't getting better in the middle-east now that Israel is continuing the Libanon invasion and ofcourse this will lead to pissed middle-eastern countries and possible actions from the US...

I knew I should have filled up my bicycle this morning

I seriously doubt it will reach $100.00 a barrel. If it did, we would obviously have an economic problem on our hands, but we would probably try to do a huge switch over to an alternative source of fuel for transportation. If not, better bust out the bikes!

all depends if there is an all out war, someones always getting richer.

Originally posted by m_w_0_8_0
I seriously doubt it will reach $100.00 a barrel. If it did, we would obviously have an economic problem on our hands, but we would probably try to do a huge switch over to an alternative source of fuel for transportation. If not, better bust out the bikes!

There have been a rash of car commercials pushing hybrids and fords newest one showing off there new line of ethanol trucks, they know or are at least act like they know that the market is about to change, I remember the gas lines during the carter years and the resession that oil caused, dont make the mistake off thinking that it cant happen again

Two years ago I'd have called you a nut. Now? Not so much...given the current state of affairs in the MiddleEast what with Israel and Syria looking like they may throw down in the not too distant future...and God do I hope I'm a lousey prognosticator, hundred dollars for a barrel of oil might just be concervative. Oh, my aching feet, that 30 miles to work is going to be a looooong walk.

Well I for one think it will go above $100... And that's not just because I'm feeling pesimistic=) Norway (where I live) is one of the worlds largest oil exporters, and I have read atleast two different analysts saying it will get a lot worse before it gets better. One og them said the prize would rize to $100 within a year, but I sort of don't think that will happen. As some have pointed out it depends on global politics. Anyhow, the US is in deep # already. I think the prize should be around $30 for the US economy to be healthy. For Norwegians it's not so bad though. We make hundreds of millions extra a year

Originally posted by DrLeary
Well I for one think it will go above $100... And that's not just because I'm feeling pesimistic=) Norway (where I live) is one of the worlds largest oil exporters, and I have read atleast two different analysts saying it will get a lot worse before it gets better. One og them said the prize would rize to $100 within a year, but I sort of don't think that will happen. As some have pointed out it depends on global politics. Anyhow, the US is in deep # already. I think the prize should be around $30 for the US economy to be healthy. For Norwegians it's not so bad though. We make hundreds of millions extra a year

I concur with you. Here in the Netherlands they also warned for hyper prices of oil. For the Dutch economy it's controversial. The Netherlands has major gas stocks, and as you probably know, the gas price is linked to the oil price.

However, the higher the price the worse it is for each and every economy, also for the Dutch and Norwegian economy. It really does depend on the developments these days, if Iran gets involved they are likely to cut off the Street of Hormuz, where 40% of the oil is being transferred through. If such a scenario happens, it would be catastrophic for the entire global economy.

If I were an US citizen I would purchase jerry cans of gasoline, as the price doesn't seem to decrease soon, so it's worth it.

Originally posted by Mdv2

If I were an US citizen I would purchase jerry cans of gasoline, as the price doesn't seem to decrease soon, so it's worth it.

This reminds me of a documentary I saw. Think it was called If The Oil Runs Out, and it had a hypothetical story of what would happen in the US. It showed people stocking up huge amounts, only to be robbed by the neighbour and people waitin half a day in line to get one single galon. So harvesting might help for a short while but try calculating how much you burn a year... You need lots og jerry cans that's for sure

Jep, things could get pretty scary, and all of that for some black greasy stuff, turned into pee-like stuff...

Ah well, you could always look at the brightside, this way scientists might put some more effort into developing alternatives for gasoline that we will need either way in a few decades, if we want to be able to ride our cars and motorcycles...

If I were an US citizen I would purchase jerry cans of gasoline, as the price doesn't seem to decrease soon, so it's worth it.

And I bet a lot of people are now already doing this. In situations like these you can really see how greedy humans can be.

Of course it will.

Now I am not going to say that it's a stupid question, because I don't believe that there are such things. It is all relative to the awarness of the individual, or individuals asking them.

One who may be einstein in one group may have yet to see the larger picture in relation to another.

But without even providing any facts what so ever supporting my comment...which I love to do.
Because I see the forest before the trees all the time.
Other folks help me out with the details. Folks who are a whole lot smarter in certain areas than I am.

I say oil will most definately reach about 150 dollars per barrel if the climates just right (weather and political). So there must be, at some point in time, a collective human idea that says...You know what guys lets just forget about fossil fuel altogether. F*%# it. Its time for a change.

A Global Mid-Life Crisis!

Back to nature!

The oil Barrons are jumping out their windows, hanging themselves from light fixtures, and shooting themselves in the head...sending a message to the entire family.

Sorry dear I just had a change of mind I cannot at any cost be a part of what I use to be a part of...and by the way seee to it that all my money gets into the kids college funds first and whatever's left over be donated to Greenpeace.

Okay a bit dramatic, but hey, it's not entirely off the mark.

OPM

Yes it will hit 100 then it will go up even faster once the hundred dollar threshold has been crossed.
I'm out drilling an oil well right now for a certain "oil & gas trust", I've been plugging holes in Western Canada & the Upper Midwest in the U.S. since the late nineties. We are chasing the crumbs & table scraps. We are spending half a million dollars to drill a single well right beside existing wells non stop, these wells are producing 30-300 barrels a day, but the MAJORITY are dusters. When they bring them on line - - nothing, or watered out. I'm starting to think we are really running out just based on what the rocks look like compared to what I was looking at 5 years ago.
I'm a geologist.

This situation is so F**ked.

I have to find an alternative, then drive my alternative vehicle around, proudly displaying a big FU to the evil of the oil company.

Troy

I guess i have to start driving a small 4 cylinder to get around if the prices go as high as the news people say it will fox had some dude on tonight talking about the price going as high as $4.00 or $5.00 dollars a gallon before to long if things in the middle east keep going downhill

Looking at how much it has climbed, how quickly it has climbed
tension in the ME, continued increase in consumption and demand, and continued conflict in the nigeria sector,
I think its naive to think it wont go above $100.

Yep one guy on the news the otherday said it would probably go to at least a hundred and ten to a hundred and twenty dollars a barrel, YIKES!! time to look at motorcycles or something like that

To the general question i must say that i do think it will even if it has nothing to do with fundamental supply/demand issues; plenty of oil in the ground , nearly EVERYWHERE.

Originally posted by BattleofBatoche
Yes it will hit 100 then it will go up even faster once the hundred dollar threshold has been crossed.

Based on what sort of logic?

I'm out drilling an oil well right now for a certain "oil & gas trust", I've been plugging holes in Western Canada & the Upper Midwest in the U.S. since the late nineties. We are chasing the crumbs & table scraps.

Wasting money is what these guys are all about it seems. Why are you guys not tapping into the 4 billion worth of non exploited reserves? Why has US reserves stayed the same since 5 years ago even when the US used up 50% of the original reserve figure? REserve figures are bunk and apparently big oil companies will drill dusters just to mess with popular perception.

We are spending half a million dollars to drill a single well right beside existing wells non stop, these wells are producing 30-300 barrels a day, but the MAJORITY are dusters.

Pretty stupid ( or well planned imo ) so what reasoning do they give considering the abundant reserves America still has?

When they bring them on line - - nothing, or watered out. I'm starting to think we are really running out just based on what the rocks look like compared to what I was looking at 5 years ago.
I'm a geologist.

How much do you get paid to tell us what you just did?I hope you sold out for a good figure!

Cheers

Stellar