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Oil To Hit $300-$400 a Barrel if Iran Attacked: NBC News

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posted on Jul, 3 2008 @ 09:24 PM
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Oil To Hit $300-$400 a Barrel if Iran Attacked: NBC News


www.businessandmedia.org

NBC News chief foreign correspondent Richard Engel warned on the July 1 “NBC Nightly News” an attack by Israel could send oil prices soaring – sending gas prices into territories never imagined.

“I asked an oil analyst that very question,” Engel said. “He said, ‘The price of a barrel of oil: Name your price – $300-$400 a barrel.’”

What would oil at those levels mean? A June 11 Time magazine story by Robert Baer put the price of a gallon of gas at $12 if oil goes to $300 a barrel.
(visit the link for the full news article)



[edit on 3-7-2008 by DimensionalDetective]




posted on Jul, 3 2008 @ 09:24 PM
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Well, that's the first time I've see the FOUR hundred dollars per barrel marker mentioned. I don't trust the source this is coming from much, but with the role that OPEC, the oil Bigs and Speculators are on, I wouldn't be suprised to see it reach even higher than these figures. These peoples greed is bottomless, and nobody will stand up to them, because most who could are involved in the industry, or getting kick-backs. lol

$12-15 dollar per gallon gas will be the end of the country, in terms of any world financial status it had. The only people who will be able to afford those prices and still get from point A to B will be the wealthy.


Engel maintained Iran could disrupt oil shipping through the Strait of Hormuz, induce Iranian-back militias to destabilize Iraq and Iran’s allies in Lebanon and in the Gaza Strip could threaten Israel. That would create “a line of fire from Tehran all the way to Jerusalem” according to Engel.



www.businessandmedia.org
(visit the link for the full news article)



posted on Jul, 3 2008 @ 09:27 PM
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Well, the airlines would have a major overhaul.

We'd have to have some sort of government intervention to keep them in business. Otherwise, we don't fly anymore.

[edit on 3-7-2008 by JediK]

[edit on 3-7-2008 by JediK]



posted on Jul, 3 2008 @ 09:37 PM
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reply to post by DimensionalDetective
 


hey DD. if iran is attacked all bets are off...i think you know that bro.

this is in no way an exageration $400 a barrell you know the commander and chief seeks this price!!!

it is a done deal my friends this attack will happen i will gladly take 2 to 1 odds. any takers???



posted on Jul, 3 2008 @ 09:49 PM
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“I asked an oil analyst that very question,” Engel said. “He said, ‘The price of a barrel of oil: Name your price – $300-$400 a barrel.’”


My first reaction is WHO is this oil analyst?

I analyze the oil market from time to time, but I admit I don't have a freaking clue, so it might be a little important to know who this reporter is basing this SENSATIONAL story on.

Don't you think?


ed:quote tag


[edit on 7/3/2008 by JacKatMtn]



posted on Jul, 3 2008 @ 09:57 PM
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reply to post by JacKatMtn
 


Yeah, that's why I mentioned that I didn't necessarily trust the source. Although this guy certainly is not the first to toss around high figures. We have seen $200 and $300 per barrel figures mentioned several times. He was just the first I've seen go even higher. I would also like to know who the analyst was that supposedly gave this particular figure.



posted on Jul, 3 2008 @ 10:00 PM
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reply to post by DimensionalDetective
 


What troubles me is that is an NBC reporter who's making the claim,

that is supposed to be one of the credible news sources isn't it?

It is amazing how the MSM has degraded into tabloid stories, to garner attention and ratings.

Just give me the freaking news, black & white.

I can handle it.



posted on Jul, 3 2008 @ 10:14 PM
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reply to post by JacKatMtn
 


Absolutely. The MSM is an absolute joke anymore. All of the major networks are nothing more than propaganda and brainwashing devices for TPTB. The most reliable source of reality news is Jon Stewart. LOL



posted on Jul, 3 2008 @ 10:17 PM
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Let it go to $1000. Bullets are cheap.

Even if it did go to 400, it would take awhile to get to that point. There are limits to what oil can trade in a day.

I think it would take around a month of open market days going limit up to do that.

I could be wrong, maybe it could happen faster...



posted on Jul, 4 2008 @ 02:19 AM
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this is all bull# and this thread should be deleted.

#1 it comes businessandmedia.org. has anyone ever gotten their news from this site? has anyone even heard of this website before? ANYONE could have created this website and ANYONE could make up whatever they want and post it online.

#2 the website looks at least 4-5 years old. websites are not designed like this anymore. even if you had a budget of $100, you could create a much nicer looking website. look at any major news sources websites and compare it to that one. you will notice a huge difference in the quality.

#3 if NBC News said this, why isn't it coming from nbc.com or msnbc.com or anything remotely close to NBC. NEWFLASH this information probably didn't come from NBC

oh wait i forgot most of ATS believes anything they see, and that's why threads like this get created.



posted on Jul, 4 2008 @ 02:21 AM
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It would seem that this oil analyst forget to mention "Purely out of speculative thinking, of course".

Naturally, he wouldn't do that, because no one would listen to him.



posted on Jul, 4 2008 @ 03:30 AM
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The problem is , no one actually knows what will happen - look at the price of oil not 18 months ago - and today it has climbed 250% from $60 in feb 2007 to a hair under $150 today, so with that level of thinking its not hard to see $400 a barrel very soon



posted on Jul, 4 2008 @ 03:53 AM
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Yeah well im sure people back in 2000 would of laughed at the prospect of $144 per barrel oil.

But look at where we are at...



posted on Jul, 4 2008 @ 04:11 AM
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Originally posted by JacKatMtn

“I asked an oil analyst that very question,” Engel said. “He said, ‘The price of a barrel of oil: Name your price – $300-$400 a barrel.’”


My first reaction is WHO is this oil analyst?



the only thing i can come up with is



Hey Raymond - how much is a candy bar cost ?
About....about a hundred dollars


Hey Raymond - how much will a barrel of oil cost?
About....about four hundred dollars




i mean, honestly - who else could it come from?

The MSM is just looking for new ways to scare the bejeezus out of the american public so taht they will stay glued to their TV sets


i really wish there were ways to put limits on the type of garbage they can report on.

"headline: Man with autism predicts oil priced at 400 dollars"

then people would go "Oh, ok then - *change channel*


Oil will not hit 400 a barrel. Why?
Because the market cant' support it. THe market will not crumble because of 400 dollar oil, because if it happens, something else will happen to counteract it

what that 'something else' is i really don't know

But i do know that it just wont happen. because people wont buy it - because they can't, and where's the profit for big oil once that fact becomes true?



posted on Jul, 4 2008 @ 04:37 AM
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Across the pond here we pay around £5-6 a gallon already. Which is roughly what $10-12.

Now if $12 a gallon hit america we would be paying around triple that.

So really thank god i dont drive



posted on Jul, 4 2008 @ 04:42 AM
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yuo know what i find funny about the euro statement is

Petroleum is sold in USD

if a euro is worth more than a USD

then you could buy more petroleum for 1 euro than you could for 1 USD

if you pay more euro than we pay USD - maybe something is going on in europe that they dont want you to know about



posted on Jul, 4 2008 @ 05:12 AM
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reply to post by Andrew E. Wiggin
 



Poo Poo it all you want, and it maybe hype, but IMHO it is definetly plausible......
As soon as the Iranian conflict starts, you world is going to change
dramatically..........



posted on Jul, 4 2008 @ 05:20 AM
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and change dramatically it shall

my claim rests on a simple theory

If gas rises to a price that people cant/wont pay

then the oil companies make ZERO money

they dont want to make ZERO money

ZERO money goes against their best interests

so either:

They lower the cost of the gas

or


They invest in new technologies other than petroleum (like they say thye've been doing for 40 years, which is total



Either way - a change is imminent, i agree. But a chance that rids us of petrol isnt really that bad of a change

[edit on 7/4/2008 by Andrew E. Wiggin]



posted on Jul, 4 2008 @ 05:25 AM
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If gas rises to a price that people cant/wont pay
 


Most are not paying now, their charging.......

-80% of the American public lives paycheck to paycheck
-They also have ~$9K CC debt
-Thier handling the current gas price , food, utilities by charging it
When the Credit industry falls, the SHTF...........



posted on Jul, 4 2008 @ 05:33 AM
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first off, i think 80% is way too high - but if you could post an article, i might be wrong.

Even if they are charging gas, you still gota pay it back sometime

If gas spikes to 10 dollars a gallon - the economy CANT and WONT handle it. It'll either be forced back down to 4 dollars, or whatever

or - it'll be replaced

its mind numbing that people cant see it this way

its so clear its shocking to me



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