Originally posted by MischeviousElf
John Bull a very very important story, as wars are being fought over this commodity now and it controls and governs both regional and international politics around the world.

I think people must remember that this is the highest price for 20 years, however then it was a imposed price rise by the Arab nations, this is simply supply and demand and ability to provide it to the customers. This is only going in one direction, continuing up. Another winter in China and a harsh one in the States could push it over $75....Infact as I currently work in this area (finance) I will make a wager here. If Oil is not above $75 a barrel for US sweet crude by January 7th next year I will give the actual cost of a Barrel directly to the Mods, and maybe a vote could be undertaken for the most deserving Charity...anyone want to match it and let me choose my Favourite charity when im right?

The real effects of this situation which really has long been coming to a Head has been offset so you may feel comforted by the rise in the dow recently…but it’s a hall of mirrors and propped up by the recent Housing Market Booms in both the UK and the US everyone has nearly refinanced their homes to the max, using the funds to keep the economy going by buying new cars etc. This has now peaked in the UK… however next year when the American real estate Prices peak too after summer/spring, oil is at ?? maybe $100 a barrel…. Everythings more expensive and scarce due to oil price and lack of. Well do you really believe that the raes will be as low as they have been in the US and the UK? Nope…they wont…in addition lenders may be forced to call in their loans if there is a Real Big Crash…read the smallprint on your Credit agreements and Mortgages Guys, oh