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Thread: According to some $800 per barrel oil is possible

  1. #10

    Default Re: According to some $800 per barrel oil is possible

    lol...I know. (I was just kidding).

    [quote=arm-spin;67351]
    Quote Originally Posted by Cyclone85 View Post
    If you think that 'war for oil' in Iraq is bad today, wait until there is $800 oil and $50 gas. Then you'll see real shock and awe and there will be no mistaking that we are at war for oil. The U.S. will send 2 tiny little National Guard units to Canada and secure Alberta's oil sands deposits.

    Alberta would put up a good fight

  2. #11

    Default Re: According to some $800 per barrel oil is possible

    $800 oil would be GREAT, because it would drive industry toward alternative fuels. I don't think it will happen soon, but the price increases we're seeing certainly are sparking increased research.

  3. #12

    Default Re: According to some $800 per barrel oil is possible

    I think a lot of the price increase is due to speculators.

    I have heard a 20-30% increase from speculators.

  4. #13

    Default Re: According to some $800 per barrel oil is possible

    I've heard similar figures. Something sinister is happening as oil has increased 1,200% since 1999, whereas the world economy is less than 30% larger. U.S. oil consumption is down so demand from the largest user in the world is not driving the price. We know all of the reasons and there is plenty of blame to go around including but not limited to U.S. policy. But speculators, traders, and hedgers purchasing oil contracts to hedge inflation are also part of the problem.

    Quote Originally Posted by spartansd View Post
    I think a lot of the price increase is due to speculators.

    I have heard a 20-30% increase from speculators.

  5. #14
    Olympic Champ ISU2008's Avatar
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    Default Re: According to some $800 per barrel oil is possible

    Quote Originally Posted by Cyclone85 View Post
    I live in a well-to-do neighborhood, and at least 3 of my neighbors are leaving their Tahoes and Silverados in the garage M-F and will only use them for the occasional Menards rock haul on the weekend.
    Nothing wrong with not driving those unless they are needed. Your neighbors are lucky they have other options to drive. When you think about people who put all their money in a F-250 or a Suburban and only have that one vehicle, sucks for them.
    You do the math..... I'll do the alfredo!! HAHAHAHAHAHAHA!!

  6. #15

    Default Re: According to some $800 per barrel oil is possible

    Yep -- if your only vehicle is an F250, sucks to be them. My brother has a Suburban and a Camry -- guess which one they take to work? That Suburban gets a gut-wrenching city mileage...I can't even type the number it is so low!

    Quote Originally Posted by ISU2008 View Post
    Nothing wrong with not driving those unless they are needed. Your neighbors are lucky they have other options to drive. When you think about people who put all their money in a F-250 or a Suburban and only have that one vehicle, sucks for them.

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