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Ready for $200/barrel?

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Old 05-07-2008, 08:44 AM
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Default Ready for $200/barrel?

http://www.ft.com/cms/*/0/70b4ef0a-1...nclick_check=1

People (not BC Club) laughed at me in the summer of 2004 when I said we would have oil at well over $100/ barrel and then they said it wouldn't stay there. Well, we're at $121/ barrel this morning and up it goes.

Believe it or not $200 is within striking distance.

By the way, $200/barrel oil = somewhere about $8.00-8.40 / gallon regular gas.

Don't know about you, but I start walking at that price.
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Old 05-07-2008, 08:55 AM
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Motorcycle here I come... and in the winter I will just become a recluse
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Old 05-07-2008, 09:17 AM
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at that point it would almost be more economical to order groceries online and have them delivered...sigh..

Florida has the WORST mess of a public transportation system and our government just stalled a light rail system out of existance by not voting on it before the session ended..

Gotta find me a hottie car pool buddie!
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Old 05-07-2008, 09:27 AM
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Originally Posted by lunchboxx
at that point it would almost be more economical to order groceries online and have them delivered...sigh..
If fuel cost rise then the price to deliver the groceries would rise as well, whether it'* a direct cost or hidden into the cost of the food.


As for me, I don't like to pay the present $6.14 per gallon of gas but I'm also invested in oil so it'* sort of a mixed feeling for me.
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Old 05-07-2008, 09:59 AM
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Frank, if Dan McTeague is correct, and he usually is, prices are expected to drop over the summer...as baffling as it sounds.
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Old 05-07-2008, 10:02 AM
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Originally Posted by Jim W
Frank, if Dan McTeague is correct, and he usually is, prices are expected to drop over the summer...as baffling as it sounds.
He better be! I want to buy a Pontiac Grand Prix GXP with the V8. I wanna live just once before I have to start walking
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Old 05-07-2008, 10:04 AM
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For the winter olympics in 2010 Vancouver, they're predicting $2.40 a litre, Thats 33% increase in just 2 years.
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Old 05-07-2008, 10:08 AM
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its rediculous, thats for sure, makes travel extreamly expensive, but there isnt much we can do, at all.
I need to fill up this morning, im expecting 85-90 for the fill
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Old 05-07-2008, 10:12 AM
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At this point, I'm just lucky that I don't have to drive to work anymore.

Jim, I don't believe the price will remain at $200.00, (if it even reaches that high) per barrel. As you say, it will come back down.
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Old 05-07-2008, 10:16 AM
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I don't think the market can withstand those kinds of prices. I'm anxious to hear the report on US oil reserves. However the latest news is rebel attacks on a Shell refinery in Nigeria is causing the latest spike.

Its always something.

I'm actually really shocked that auto manufacturers have been so quiet lately. The demand for high consumption vehicles is down drastically and unfortunately hydrogen fuel IS NOT the way of the future and hybrids are too limited in numbers. I would have expected the Big 3 (whatever that is ) in the US to start pressuring government to do something to curb the rising prices of gasoline.
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