Will the Price of Oil Hit $200 per Barrel in the Next 6 Months?

**Hooman** · 07-03-2008 12:31 PM

Let's not get political. This is purely for fun, I want to see what you all think. I think it can and will. Vote!

Also, rather than be negative about the fact that gas prices are increasing, it also creates opportunity where others see problems. That's what entrepreneurs are about. Point being, I make more money off a certain website I run the more gas prices increase

I'm sure we can all find a way to take advantage of it. More problems means more ideas and creativity. More thinking outside of the box.

In fact, I would say that if it wasn't for the increase in oil/gas prices, there wouldn't be so much effort going into alternative fuel sources and hybrid technologies.

And lastly, if you do vote yes, then why not invest in it? Lots of people would rather whine and complain when opportunity is staring them right in the face.

But not us, because we're entrepreneurs

**jasaunders** · 07-03-2008 12:44 PM

Mygallons.com is already taking advantage of it. They have been all over the press this entire week.

Of course if you read their FAQ's and fine print, you realize its not a good deal.

**HarveyJ** · 07-03-2008 07:28 PM

I voted yes, because of the rumblings in Iran.
with nearly 40% of the world's oil going through the straight of Hormuz, and Iran pretty much controlling the gateway on that straight, I get the feeling Iran would win any war by default, simply because it will be cheaper for them to throttle oil sales than it is to rebuild their fairly well developed country.

Ahmadinejad might be crazy as a bed bug, but crazy does not equal stupid.

**Aletheides** · 07-03-2008 07:46 PM

Yes.........

**jshua** · 07-05-2008 03:19 PM

unfortunately yes becuase of greedy oil people. If only we would drill in our own country

**Lambo** · 07-05-2008 03:51 PM

watch this crazy video....

YouTube - John McCain's Connection to Big Oil & The Enron Loophole

**gregdavidson** · 07-05-2008 11:28 PM

Maybe you can invest some of your economic stimulus check on that. Honestly, I think that was Bush's way of saying "I know I screwed things up but your gas is on me until I get out of office".

**paul2145r** · 07-06-2008 01:25 AM

I'm not 100% sure, but I don't think it will hit $200 that quickly. There have also been comparisons made between the many 'bubbles' of yesteryear (Nikkei index, Nasdaq, the dotCom boom, etc etc) and the current energy crisis. If a 'bubble' occurs, prices are expected to drop over 75%... That would be nice, but I'm not holding my breath!

**sidakep** · 07-06-2008 01:25 AM

i hope not, but if we think rationally yes it can be....

**ape** · 07-06-2008 01:49 AM

no, i think our economy can't get much worse unless we continue to do surges and make money out of thin air. i may be wrong and out of my league, but you also have to consider the value of our money. because of inflation, $4 now has about the same value of about $2 before the iraq war. we use to have double the value of money of canada, now we are even with canada and much much worse than britain where gas is definately not cheap.

**armenh** · 07-06-2008 02:24 AM

No, thats way too much for 6 months. It is almost impossible that will make a gallon of oil around 6.75 or so...Thats is not going to happen. As we get closer to the elections we will see a surge but wont be more than 5 dollars a gallon for a long time. We have just about hit our lowest point in our economy cant get much worse than this. Some optimism is involved in this post though.

**HarveyJ** · 07-06-2008 07:48 PM

Originally Posted by paul2145r

I'm not 100% sure, but I don't think it will hit $200 that quickly. There have also been comparisons made between the many 'bubbles' of yesteryear (Nikkei index, Nasdaq, the dotCom boom, etc etc) and the current energy crisis. If a 'bubble' occurs, prices are expected to drop over 75%... That would be nice, but I'm not holding my breath!

I disagree...
Even if it is an artificially inflated bubble, it's a bubble on an essential item that pretty much runs the economy. There's a reason why macro-economicists talk about the "petro-dollar" when talking about US currency.
The previous bubbles have all been on things that have not actually been vital to the running of modern civilization.

**paul2145r** · 07-16-2008 01:35 AM

Well, as far as bubbles, the price of oil is about as inflated as it gets. Look at the producing countries in the Middle East, and the price of gas there- it is ridiculously low. If you took OPEC and the other conglomerates out of the picture, we could maintain a steady $30-$40 per barrel, and still have enough supply to take care of most of the modern world (sorry, New Zealand, you'll have to do without oil this month).

My advice to everyone is to wait until after the elections until you start speculating. Economic turmoil has accompanied almost every election where there wasn't an incumbent running- it is truly in the favor of both candidates. It is up to them to decide which one is going to make the most of the situation and come out ahead.

My prediction (based upon analysis of similar periods throughout this and the past centuries, as well as the current socioeconomic situation), is that the economy will drastically improve as early as May or June of next year. As soon as the new president has a chance to take over and get rid of all of the scandal that has thusfar been surrounding the election.

Then again, another factor that we have to consider is the involvement of Iran. Iran has made it clear that they will not cease working with Nuclear technology. Israel is itching to pull the trigger and start bombing. The smallest provocation could end what little peace we have had these past couple of weeks. If there is another flair-up in the middle east, I would have to venture that we will be having to go back to the rationing system of the 70's. Venezuela and other sources of oil will not be able to sustain us past 70% of our dependence.