Oil tops $78 amid fresh Iran tensions

A small taste of things to come?

www.reuters.com...

I know this kind of thing is expected during turbulent and volatile times, however I believe these are historical times in which we live, and we are going to see ever increasing new stories like this on MUCH larger scale especially if Israel make good on their threats to attack Iran.

Would we see oil at 200, 300 dollars a barrel? I don't know but I am interested in seeing people's thoughts on this. What are implications for the western world should this potential scenario arise?



[edit on 22-11-2009 by Echelon117]

I have no idea if oil will climb to 300 dollars a barrel or not, but I do believe that if we don't get ourselves off foreign oil soon we will completely screwed. The USA needs to get rid of their "not in my backyard" philosophy and start drilling.

reply to post by Echelon117


Well if an attack on Iran drives the price of oil through the roof , and nobody except the Israelis know when such an attack was to take place ...

They could make a small fortune with such insider knowledge.

The first clues to an Iranian attack might very well be on the stock market .

We will never see 300 US$/barrel oil.

We could see 125 Amero$/barrel oil.

The US dollar will be replaced by another fiat system way before our dollar becomes monopoly money.

Wait a minute, it is monopoly money.

THE ENDISNIGHE, in more ways than one!

Edit to add-The US dollar is becoming worthless. The mideast has nothing to do with the price of oil relating to the dollar. Manipulation by our government can only go so far. We are so fracked, very soon now.

[edit on 11/22/2009 by endisnighe]

The price of oil is complete BS. The excuses they have used over the last three years is a complete scam.

Not enough oil.
Too much oil.
A storm.
Iran,,,etc.

It is as bad as the stock market BS they are doing.

The worse the country and the dollar do, the more they make.

If everyone would pull out there investments and retirements, these A-holes might get a clue. This would give them nothing left to gamble with.

That is all they do, gamble with your money. Hell, I can go to Vegas and do that, at least I'll get some fun out of it.

The oil prices being jacked up right now is a downright fraud. Just a scam.

Especailly since all that oil is secretly being pumped under LA...why the hgih cost in oil then? only 3 reasons i can see..it show oil issstill number one resource bieng drilled and used...to keep costs jsut high enough, so we stay that much pooorer, and to p[rofit greedliy for allt hier CEOS.

Strange that I am paying the same price per gallon for petrol here in the UK as I did when it was at the peak $ per barrel..

I say it's a con and complete BS...

I say the Iranian tensions are simply to increase the $ per barrel... Russia, Iran et al. are rubbing their hands together at the extra cash.. the higher the tensions the higher the cost per barrel the more they make.

Israel won't attack, there is to much profit to be had in keeping all these tensions high..

Errrrrrr.... what fresh Iran tensions?

They use the same old tired lies time after time to justify the price hikes, which are driven purely by the speculators and their Wall St. banker buddies. It's nothing more than a money making exercise, they know it, we know it too but there is nothing we can do about it.

reply to post by Echelon117


Never believe MSM version of why oil increases in price. They almost always come with some dumb off the wall excuse. The USD recently tested all time lows against the Euro and GBP, meaning that the price of ALL commodoties increased in price.. from Gold, Foods, to Oil. And in all likeliness the price hike will continue as the USD continues it's slow and volatile decline. Of course, the MSM will never say that the prices of goods rises with the decline of the Dollar because that would get people scared and irrational... they would much rather you take your anger and frustration out on those damned Iranians, always causing problems out to get our way of life.