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In the next few years, $65 a barrel oil is coming, maybe.

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posted on Aug, 16 2008 @ 01:32 AM
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In the next few years, $65 a barrel oil is coming, maybe.


articles.moneycentral.msn.com

If you're frustrated over the high cost of gasoline at the pump, don't trade in your Hummer for a Vespa just yet: A leading energy analyst is telling clients these days to prepare for crude oil to retreat back below $65 per barrel over the next three years.

How could it happen? He says conservation, new drilling, efficient new vehicles, alternative energy sources, a rising dollar and a global recession will combine to blast prices back to the Stone Age -- or at least to last year's levels.

"The match has struck, the fuse has been lit, and four or five years from now OPEC producers are going to be drinking their own oil and choking on it," says Tony Kolton, the founder and president of Logical Information Machines, a provider of research to most of the world's major energy-trading companies for two decades.
(visit the link for the full news article)




posted on Aug, 16 2008 @ 01:32 AM
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A top analyst expects crude prices to start plummeting. If you don't believe it, you're not the only one.

I find it really hard to believe that the oil companys will ever let the price of crude far this low again.

Do you??

The huge profits that these company's make quarterly make dropping oil prices bad for them. I cant see that kind of power over the oil given up and..bamm..were back to $1.50 a gallon gas again.
I would think that the oil companies would keep the price high claiming that they need all of that cash for future R&D.

What do you think???

articles.moneycentral.msn.com
(visit the link for the full news article)



posted on Aug, 16 2008 @ 01:49 AM
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They want to drill because they want any subsidies they can get. I prediced weeks ago in another thread the price would go down due to the fallen demand from the high prices. I also predict it will stick for years. As the price falls OPEC will try to sell more to make up for some lost profit in the short term.

Another nutty prediction of mine I guess but it's there for the world to scoff at if they like.



posted on Aug, 16 2008 @ 01:57 AM
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It's funny how just pure speculation about the oil market can cause the price of crude to go down. I'd love to have gas down at $2.50/gallon. That's perfectly fine with me, but even lower would be great.



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