CEO Of World's Largest Energy Company Predicts Oil Will Hit $250

CEO Of World's Largest Energy Company Predicts Oil Will Hit $250

www.independe nt.co.uk

The chief executive of the world's largest energy company has issued the most dire warning yet about the soaring the price of oil, predicting that it will hit $250 per barrel "in the foreseeable future".

(visit the link for the full news article)

Well this is unreal. I can't imagine oil getting that high and the impact it will have on the global economy.

My advice to all is to start saving all you can and figure out ways to get as far away from oil as possible. This is BAD news.

www.independe nt.co.uk
(visit the link for the full news article)

people laugh at me because i ride a bike...


but i am saving tons of money!!!!

reply to post by CzErased


Right! Who is laughing now!?

I am lucky enough that I can ride the train to and from work and virtually everywhere else. I do have a car but barely use it.

I just feel awful for those barely getting by who have to drive 40 miles to work just to spend their check on gas.

What an irresponsible thing to say! All this person did was give the speculators cause to raise the price?

Why do that? How much wealth can they suck from the system? ALL of it?

Originally posted by Maxmars
What an irresponsible thing to say! All this person did was give the speculators cause to raise the price?

Why do that? How much wealth can they suck from the system? ALL of it?

I think that's the point. He made it look like he's the good guy, warning everyone of impending doom... yet he just issued a statement to the speculators to justify bringing the prices higher... and guess who profits?

If he wanted to do the right thing, he should have said that the increasing cost of oil will damage the energy market and make investments in oil near worthless.

Of course thats a lie, but only at first, once the investors jump ship, the value of the oil drops, and we can get back to our daily lives.

[edit on 11-6-2008 by johnsky]

reply to post by TruthWithin


I ride my bike everywhere, except when it's really really hot, in which case I take the bus, which is free on really really hot days.

Originally posted by Maxmars
What an irresponsible thing to say! All this person did was give the speculators cause to raise the price?

The speculators that can actually move the market aren't that naive. They know what side Gazprom's bread is buttered on. Now, if he'd said something about, say, lower than expected efficiency results from grain/fuel equivalence testing, couched in more technical terms, that might make them sit up and take notice. Instead, he cited 'supply and demand' and 'protectionist tendencies' -- factors that the market is well aware of.

I was somewhat concerned at being laughed at- an you know what? Let them laugh all they want.
It wont be longer now before everyone is riding a bike a horse or an ass.

I was offered a donkey for 600.00, but i passed, they're too slow.

There is absolutely no public transportation where i live and if it werent for my arthritis in my knees from all those years speed skating, i'd get around that way too!

We do what we have to do, and thats it.

More power to you all!!!!!

It is no secret that Russia's oil production is on the downside and apparently their oil fields are been sucked up dry, comments like this if taken seriously by speculators are going to increase this company profits and allowed them either to get richer before they have no more oil or to pay for more expensive drilling, either way they are just covering their bottom line which is ridiculous given the amount of money they are already taking in and the choke that they are putting on economies around the world.

BTW, I also started to ride a bike to work and my wife is leaving the SUV at the house and taking my little car which has a good MPG average. I don't care if people laugh at me, we are saving some serious money right now and at the same time I'm getting a good workout but my legs are sored.

[edit on 11-6-2008 by Bunch]

If Oil hits 250 a barrel, that would mean that our money has degraded to the point of 250 a barrel.....In that case, filling up your car will be the least of your worries.

I suggest that when we are all broke and starving,......we start eating these fat bastards. Think about it. I bet they wouldn't see that one coming...

If oil switches to the Euro..... it will be 250 US a barrel overnigt. Maybe take a week.

I hope it never happens, but the way the world is going right now I wouldn't be surprised.