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$200 Dollars per barrel of Oil - Jim Rogers 17 may 2011

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posted on May, 17 2011 @ 10:46 AM
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Just a short excerpt from a BBC interview with Mr Rogers concerning the price / cost of oil....

Bottom line is that he sees only one way from here and that is up up up up and away............that price per gallon thread will become history..

So watch out America with all your big trucks and stuff and the rest of the western oil based economies.......

We are screwed unless that invention that was on here a month or so ago (water power for cars) is a reality !!

news.bbc.co.uk...

NOTE - @ 0.43 secs - i love how he was going to say ''America is in serious s... err trouble.. ''

How true..

PDUK




posted on May, 17 2011 @ 10:55 AM
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Crude Oil and Commodity Prices
May, Tuesday 17 2011 - 11:46:16
WTI Crude Oil
$95.66 ▼1.71 1.76%
11:39 AM EDT - 2011.05.17




So much for being accurate !!!



posted on May, 17 2011 @ 10:58 AM
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reply to post by hdutton
 


Another failed prediction and we didn't have to wait this time.



posted on May, 17 2011 @ 11:00 AM
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reply to post by hdutton
 


Hooray.... a win today but how many garages will reduce the cost of oil to us based on one days figures........

Mr Rogers thinks the trend will be up and up and maybe that him, a parasitical speculator trying to move prices up and line his silk purses BUT with the worlds oil reserves diminishing 6% per year then sooner or later we will be in trouble......... within most of our livetimes i think


PDUK



posted on May, 17 2011 @ 11:00 AM
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Originally posted by hdutton
Crude Oil and Commodity Prices
May, Tuesday 17 2011 - 11:46:16
WTI Crude Oil
$95.66 ▼1.71 1.76%
11:39 AM EDT - 2011.05.17




So much for being accurate !!!


you fail to understand the market and whats going on. Yes oil is droping because QE2 is ending. The FEDs need deflation to sale QE3 to the people.

The USA hit its Debt limit yesterday so the FED can no longer pump POMO into the market so thats why you see the market falling today.

Once QE3 is up and running, It will have to come because no one is buying our bonds, Then you will see oil sky rocket. There are already December oil futures being sold for $200.

you cant look at a day to day price and say he is wrong, you need to look at the big picture



posted on May, 17 2011 @ 11:04 AM
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Originally posted by mileslong54
reply to post by hdutton
 


Another failed prediction and we didn't have to wait this time.


You guys are completely ignorant of the situation. This is not a prediction, its a mathematical certainty.



posted on May, 17 2011 @ 11:07 AM
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Originally posted by camaro68ss

Originally posted by mileslong54
reply to post by hdutton
 


Another failed prediction and we didn't have to wait this time.


You guys are completely ignorant of the situation. This is not a prediction, its a mathematical certainty.


Thankyou...... this is not a prediction but more a warning for those out there who are worried...!

The date in the title was about being aware of might be later in the year............. didn't know futures are bouncing around at $200 already

PDUK



posted on May, 17 2011 @ 11:08 AM
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Gas prices have gone down recently, here's my local link MN gas price graph

We shall see what the trend will be over the summer holidays. Typically, it goes up for summer travel. I do however, have to wonder if the market's going down has to do with the debt ceiling limit. Not my area of expertise but I do like to try to keep up on it as it does affect me.



posted on May, 17 2011 @ 11:12 AM
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In New York trade the benchmark West Texas Intermediate for June delivery closed at $97.37 a barrel, $2.28 lower than Friday.

that was yesterday

right now it's
Oil

$95.36 -2.01 -2.06%

why???

Because while there is a huge demand... that demand dried up thanks to the higher prices... creating an unstable market... Text book economics... to bad the damn speculators who drove up those prices... never went to good schools



posted on May, 17 2011 @ 11:14 AM
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reply to post by queenofsheba
 


yes like i said above you will see gas and oil drop from here until QE3 is anounced. Once oil hits those levels, $200+ range, you will see a complete shut down of the economy in all sectors. Food will be to expensive for alot of people.

its going to be crazy. if you have not started a food storage supply you should now!



posted on May, 17 2011 @ 11:18 AM
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reply to post by DaddyBare
 


Please don’t take this the wrong way but I watch the markets every day. I know what’s going on and this market is fully corrupt and has nothing to do with speculators and everything to do with the FED’s and how they pump money in and out of the stock market. Right now you’re seeing money not being pumped into the market so now we have a deflationary market. This is all planned to sale QE3 to the people and cry deflation. Enjoy the slight drop. It’s only going to last a few months



posted on May, 17 2011 @ 11:25 AM
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Originally posted by PurpleDog UK

Originally posted by camaro68ss

Originally posted by mileslong54
reply to post by hdutton
 


Another failed prediction and we didn't have to wait this time.


You guys are completely ignorant of the situation. This is not a prediction, its a mathematical certainty.


Thankyou...... this is not a prediction but more a warning for those out there who are worried...!

The date in the title was about being aware of might be later in the year............. didn't know futures are bouncing around at $200 already

PDUK


Ok, so being that he said May 17 the price of oil will be $200 dollars a barrel and it's currently May 17 with the price of oil a barrel being under $100 makes me ignorant. Yes, I under stand the "situation" what's ignornat is the fact that oil is not the only thing that make's your car go "Veroom Veroom." It happens to be the only energy source that lines the pockets of those in control of the energy industry. I choose not to worry about stupid dates people say things are going to happen, in fact once someone predicts a date that this or that's going to happen I can be at easy knowing that it won't.



posted on May, 17 2011 @ 11:31 AM
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reply to post by mileslong54
 


his interview was on may 17th. He made the clame on May 17th, for a future date, oil will be $200 a barrel.



posted on May, 17 2011 @ 11:42 AM
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reply to post by camaro68ss
 


Wow, what a incredible prediction, with the super inflation that's going to have to happen to save the economy Milk will be $200 dollars a gallon. Go figure, what a genius. You really need Mr. Rodgers to tell you that. They have been saying the oil reserves are going to run out for decades now. Supply and demand, less supply more demand = higher prices. I think I got that from high school.
My mistake, the title of the thread is a bit misleading and I don't need to watch a video to know what the future costs of oil will be. Look at the current history of oil prices from the dawn of the industrial revolution to now and add the inflation.
edit on 17-5-2011 by mileslong54 because: (no reason given)



posted on May, 17 2011 @ 02:02 PM
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reply to post by camaro68ss
 


I do have some put away...food that is and cash, hopefully won't need it?? Hope not. I just don't understand because I would think the corporations and those that make the money would want the same-ol-same old to keep their money coming in.



posted on May, 17 2011 @ 03:53 PM
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reply to post by camaro68ss
 


Link to Dec. oil futures selling at $200? Not seeing it anywhere.



posted on May, 17 2011 @ 04:43 PM
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reply to post by samcrow
 


i dont have a trading termanal to pull up those futures.



posted on May, 17 2011 @ 07:39 PM
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reply to post by PurpleDog UK
 


Oh purple...pretty dog; whatever, no one cares until it affects them. Even today watching the stupid markets with my husband he's all like but "JP.." is doing great." So, who cares? Cuz that's how people think. Until it all falls down and people start feeling hungry pains in their tummies it don't make a difference what you're trying to say to us now. Because we don't want to believe you, not you, never you and your terrible news. Now that's not fun, is it?



posted on May, 17 2011 @ 09:28 PM
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reply to post by camaro68ss
 


more like $98.00 for dec. 2011......clz12
www.barchart.com...

edit on 17-5-2011 by murfdog because: forgot the link



posted on May, 17 2011 @ 09:47 PM
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What about all those reports of vast quantities of oil? Too many to name really. Read a story that America has the highest reserves in the world. Oil reserves in Brazil, ect. I don't think it's accurate to say we're running out of oil.




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