2009 Oil Price Thread

[gingermeggs]

Originally posted by: dphantom
Oil will be around for many decades to come. Eventually, the market will move toward other forms of energy. But if we force the market to go where it does not want to be, we only create distortions in the market which will inevitably correct themselves, often painfully. See the home mortgage problem for an excellent current example.

but maybe you get technically over taken in the race for a replacement- china a good example?

 

[gingermeggs]

Originally posted by: Skoorb
Do those 30,000 people really want the anger of 300,000,000 people directed at them for raising gas?

they don't care! they are greedy people who/m still get away with their attitudes- mainly due to public apathy!

m from who left out for harvey!

 

[hiromizu]

Originally posted by: soccerballtux
If it's clear oil will go up and 20% profit can be made, then why haven't more people bought into it (driving the price up to $60 now)? It's virtually impossible to find an already unexploited opportunity in the market, saying there's one in something as big and prominent as oil is really going out on a limb...

From what I understand there is a lot of oil to dig - say in the US - but it's not so easy to get and apparently more costly than say getting cheap oil in KSA - which has limited supplies based on current output. Supply & demand in the current state of economy, supply & demand when the economy recovers, alternate energy viability, international politics & trade balances, environmentalists, billion$, peak oil, Canada, Russia, Middle East conflicts etc. are just some of the factors that I brief over. I could be wrong with the % but I don't think I'm going out on a limb. My time frame is a bit over a year - maybe 2.

 

[Mojoed]

Oil up to $56.75 per barrel now.

Gas up to $2.23 for regular as of 5/7/09, up from it's local low of $1.38 a few months ago.

 

[StageLeft]

I'm guessing that, other than maybe some short anomalies, oil doesn't go more than $10 or so higher than where it is this year. It's really too late, I bet, to be getting in and looking for some quick money. When it was at $33 this year I knew it was a good buy. I didn't buy it and instead bought some other "good" stocks.

 

[Special K]

Originally posted by: Skoorb
I'm guessing that, other than maybe some short anomalies, oil doesn't go more than $10 or so higher than where it is this year. It's really too late, I bet, to be getting in and looking for some quick money. When it was at $33 this year I knew it was a good buy. I didn't buy it and instead bought some other "good" stocks.

I figured the recent run up was a combination of the summer driving season and seasonal price increases that usually occur to some extent around this time every year, and the recent run up of the stock market that seems to suggest the recession is over.

 

[hiromizu]

Originally posted by: soccerballtux
If it's clear oil will go up and 20% profit can be made, then why haven't more people bought into it (driving the price up to $60 now)? It's virtually impossible to find an already unexploited opportunity in the market, saying there's one in something as big and prominent as oil is really going out on a limb...

I'm not too far off meow am I? : )

 

[BoomerD]

Gas is about $2.50 here now. It's jumped 25-35 cents in the past month.

Gotta be ready to gouge people over the 3 day weekend...and for their summer vacations.

 

[BarneyFife]

Originally posted by: BoomerD
Gas is about $2.50 here now. It's jumped 25-35 cents in the past month.

Gotta be ready to gouge people over the 3 day weekend...and for their summer vacations.

Will not be suprised if we see it at 3.25 for 4th of July.

 

[dsity]

memorial day weekend + http://www.reuters.com/article.../idUSTRE54O29E20090525 = conspiracy