Have we seen the peak in oil yet?

Discussion in 'Finance, Investing & Economy' started by Matt in the Hat, Mar 10, 2005.

  1. Matt in the Hat

    Matt in the Hat Moderator
    Staff Member

    Sep 21, 2002
    Brooklyn
    Club:
    New York Red Bulls
    Nat'l Team:
    United States
    First Substantial Post!


    The price of crude is at $54.77 at the start of the market day. Have we seen the top of the mountain, or do you think that the price will get to $80/Barrel this year?
     
  2. Chicago1871

    Chicago1871 Member

    Apr 21, 2001
    Chicago
    Nat'l Team:
    United States
    I think we'll see a peak somewhere in the lower $60s.
     
  3. MLSNHTOWN

    MLSNHTOWN Member+

    Oct 27, 1999
    Houston, TX
    God I hope so.
     
  4. Chicago1871

    Chicago1871 Member

    Apr 21, 2001
    Chicago
    Nat'l Team:
    United States
  5. Sachin

    Sachin New Member

    Jan 14, 2000
    La Norte
    Club:
    DC United
    Depends on how demand in China and India grows this year. More than the war and terrorism fears, that's what driving up the oil prices. All sorts of commodity prices have gone up over the past two years.

    Good for my natural resources mutual fund. :D

    Sachin
     
  6. Danks81

    Danks81 Member

    May 18, 2003
    Philadelphia
    It will break $70 but settle back down to the high $50's.
     
  7. obie

    obie New Member

    Nov 18, 1998
    NY, NY
    Club:
    New York Red Bulls
    Nat'l Team:
    United States
    I picked a middling number - $70. You have to frame the question through a time period, though. $70 by end of '06 is my guess though it's not much more than a guess.
     
  8. monop_poly

    monop_poly Member

    May 17, 2002
    Chicago
    This year? $60. Gasoline is going to go higher though between now and July. I would be surprised not to see $2.40/gal at a station now selling it at $2.05/gal where I buy gas & milk.
     
  9. prk166

    prk166 BigSoccer Supporter

    Aug 8, 2000
    Med City
    The lil' econobox I drive says "matters". :D
     
  10. Sachin

    Sachin New Member

    Jan 14, 2000
    La Norte
    Club:
    DC United
    I still have yet to pay $2/gallon for gas, anywhere. I hope to keep that streak alive through the middle of the year.

    Sachin
     
  11. Roel

    Roel Member

    Jan 15, 2000
    Santa Cruz mountains
    Club:
    Liverpool FC
    Nat'l Team:
    Netherlands
    I think we will get $60, just on currency effects. The US$ and Chinese yuan are falling. The price of oil has doubled in terms of US$, but only gone up 30% in terms of Euros.

    We will probably see another significant gain due to increasing demand. US and Chinese demand will probably push oil over $70 this spring.

    There could be some spikes, but sustained prices will be $60-70 through 2005.
     
  12. obie

    obie New Member

    Nov 18, 1998
    NY, NY
    Club:
    New York Red Bulls
    Nat'l Team:
    United States
    The only reason the yuan is falling is because the Chinese govt pegged it to the dollar. If they allowed it to float, its value relative to the dollar would likely skyrocket.
     
  13. Chicago1871

    Chicago1871 Member

    Apr 21, 2001
    Chicago
    Nat'l Team:
    United States
    That's impressive, as I haven't paid less than 2.08 a gallon this year.
     
  14. ElJefe

    ElJefe Moderator
    Staff Member

    Feb 16, 1999
    Colorful Colorado
    Club:
    FC Dallas
    Nat'l Team:
    United States
    That's the difference between living in Virginia and Illinois.

    I haven't paid $2 a gallon yet this year either, but because the Dallas area has the highest gas prices in Texas, I expect that I soon will be. Regular unleaded (which I uses) is running around $1.85-1.90 a gallon around here, with the higher grades already at $2 or higher.
     
  15. Quango

    Quango BigSoccer Supporter

    Jul 25, 2003
    Colorado
    Club:
    Colorado Rapids
    Two weeks ago, I said "$2.00 for Plus! That's outrageous." It went up to $2.20 today. Time to start taking the bus more. Q
     
  16. prk166

    prk166 BigSoccer Supporter

    Aug 8, 2000
    Med City
  17. DamonEsquire

    DamonEsquire BigSoccer Supporter

    Sep 16, 2002
    Kentucky
    Club:
    Leeds United AFC
    Nat'l Team:
    United States
    Renters versus Owners

    I gonna stick with coessentialness. The summertime will bring +$10.00 maybe even ten more for quanity. I think. This push by government and regulators for long haul. Sure citizenry might loose but time will tell. Stabilization possibilly for five years. Power aid is a drink however, minimum wage increase. I still say. It should be ten dollars an hour. The bare necessities for survival: utilities, rent, food, transportation, rent and phone/cable. Situation should allow timeliness of gouge. At least, fecal matter remain off of sidewalks. Is this national war?
     
  18. Txtriathlete

    Txtriathlete Member

    Aug 6, 2004
    The American Empire
    62 dollars so far, I think we can easily hit 65-70 dollar range by year's end.
     
  19. Pints

    Pints Member

    Apr 21, 2004
    Charm City
    I don't have any links, but I can tell you the days of spending anything less than 1.50-1.75 for a gallon of gasoline in the US is over. Within the next 10-15 years we will all be happy that the prices have fallen back down to 4 bucks a gallon. Mark my words.
     
  20. Pathogen

    Pathogen Member

    Jul 19, 2004
    Like you care.
    Club:
    Columbus Crew
    Nat'l Team:
    United States
    I'm guessing the standard will be $3/gal by next Memorial Day.
     
  21. Pints

    Pints Member

    Apr 21, 2004
    Charm City
    I wouldn't be surprised. As it is, in the Baltimore Metro area, I find it hard to locate gas for less than 2.29 a gallon.
     
  22. Pathogen

    Pathogen Member

    Jul 19, 2004
    Like you care.
    Club:
    Columbus Crew
    Nat'l Team:
    United States
    Of course everything, but reaping massive profits, will be the reason for the high cost. It's good to know that I'll need to earn a 2% raise every quarter just to keep up with the rising fuel costs.
     
  23. DamonEsquire

    DamonEsquire BigSoccer Supporter

    Sep 16, 2002
    Kentucky
    Club:
    Leeds United AFC
    Nat'l Team:
    United States
    Oil industry awash in record levels of cash
    Article is from July 21, 2005. Apreety good direction looms. Oil is here to stay for sometime. Most probably. Already read this.
     
  24. Txtriathlete

    Txtriathlete Member

    Aug 6, 2004
    The American Empire
    Well, were at 63 dollars. We may be losing at the pump, perhaps we should gain in the market so it cancels out :)
     
  25. Chicago1871

    Chicago1871 Member

    Apr 21, 2001
    Chicago
    Nat'l Team:
    United States
    My prediction of mid 60s seems like it will most likely be passed. High 60s or low 70s seems more likely in the next 12-18 months. It will continue up another 15 cents a gallon within the next 2-3 months, and maybe by years end we'll see a slight downturn, only to see it swing up again in March of 06, and baring a major world event I think a small, but steady increase will last for another six months.
     

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