Oil Hits New Records Over 84$ Per Barrel on Supply Worries, page 1

Oil Hits New Records Over 84$ Per Barrel on Supply Worries, page

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Topic started on 14-10-2007 @ 05:04 AM by anhinga

Oil Hits New Records on Supply Worries

ap.google.com

NEW YORK (AP) — Oil futures rose to a new trading high above $84 a barrel on Friday — and settled at a new record — on concerns that supplies are not adequate to meet fourth-quarter demand.

Recent reports have indicated that crude inventories are falling.

(visit the link for the full news article)

[edit on 14-10-2007 by anhinga]

[edit on 14-10-2007 by UM_Gazz]

reply posted on 14-10-2007 @ 05:04 AM by anhinga

Another nail in the US coffin? At almost $85 a barrel, I really
think "peak oil" is the truth and car-owners are in for a
rude awakening when it gets worse. How much worse?
Try 200$ a barrel at 7-8$ a gallon could happen sooner then. . . .

ap.google.com
(visit the link for the full news article)

reply posted on 14-10-2007 @ 05:08 AM by Rilence

Given recent surges in the price of crude, it will be very interesting to see where it heads coming into Northern Hemisphere winter....I hope the US and Europe have good inventories of heating oil and so on...

Otherwise, there might be a whole lot of not so well off people getting very cold as winter progresses and prices surge...

Not a nice situation, thank goodness winters are rather mild where I'm at...

Peace

reply posted on 14-10-2007 @ 05:13 AM by anhinga

Rilence,
I am located in the NE of the US, the cold weather seemed to start this
week, even into the 30/40s at night so far. I think that every winter,
when stock prices dip and energies go skyrocketing will happen again
this winter. The question is how bad will it get how soon ?

Any thoughts/links or research, please post. . .

reply posted on 14-10-2007 @ 04:03 PM by lanhud

It will goes over $100, and the US$ keep on dropping. INFLATION.

Now, everybody is paying the price of the war created by American.

reply posted on 16-10-2007 @ 09:01 AM by dbates

I think that part of the price increase is realated to the dropping value of the dollar, but that doesn't account for the price changing from $30 to $80 in less than 5 years. Perhaps the value of oil has been undervalued for a long time. Or, perhaps the market is beginning to adjust for the obvious signs that supply can't keep up with demand.

reply posted on 16-10-2007 @ 09:11 AM by dntwastetime

Its called "Hyperinflation". Webster Tarpley talks all about this. This has been the design, to build all these bs SUVz flood America with gas guzzlers, credi cards ,then hit the switch ,boom 85 dollars a barrel. Its the "me ,me, me first!" "its my world you cant live here"scum ego maniacs of the NWOz master plan. Being Mind Controlled by the TV and radio, as well as everyone with there head up there you know what, and Indifference has its penaltys. I wonder if the price of guns is going up?I want a full tank of them.America is in deep schmoo. So we will sit here and watch this board till the power goes out, then what? "Shall we stand here idle?"PH
DWT

reply posted on 16-10-2007 @ 09:19 AM by Beachcoma

reply to post by lanhud

Not everybody. The elite are banking in on this. It's part of the master plan.
Read and weep:

$200 Dollar a Barrel Oil Is Bilderberg Plan To Destroy Middle Class

Tumpang tanya, kamu dari mana?

reply posted on 17-10-2007 @ 04:08 PM by SenHeathen

Its largely all the above. Oil stayed in the $30 area for a long time and was therefore undervalued. Then when the idea of oil running out tomorrow started becoming popular it started going up then we had 9/11 which set off world unstability with the WOT, then Iraq, and now Iran and Turkeys possible invasion of northern Iraq.

Its just the perfect storm of stuff that has jacked the price up.

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