Who wants to Take a Scientific Wild ASS Guess "SWAG" at when oil will pop
06-26-2008, 08:30 AM
#1
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Who wants to Take a Scientific Wild ASS Guess "SWAG" at when oil will pop
Some one on here said that the oil bubble will pop at about $150.. I wonder
here is what OPEC is saying... I for one hope it aint so
OPEC President Chakib Khelil was quoted as telling a French television station that oil could rise as high as $170 per barrel this summer before pulling back. That and a falling dollar helped send light, sweet crude up $3.50 to $138.05 a barrel on the New York Mercantile Exchange. Rising oil has saddled nearly all parts of the economy with higher costs, weighing on consumers who now have to reach much deeper into their wallets at the gas pump and therefore have less to spend elsewhere.
here is what OPEC is saying... I for one hope it aint so
OPEC President Chakib Khelil was quoted as telling a French television station that oil could rise as high as $170 per barrel this summer before pulling back. That and a falling dollar helped send light, sweet crude up $3.50 to $138.05 a barrel on the New York Mercantile Exchange. Rising oil has saddled nearly all parts of the economy with higher costs, weighing on consumers who now have to reach much deeper into their wallets at the gas pump and therefore have less to spend elsewhere.
06-26-2008, 08:47 AM
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Originally Posted by BoredwLife
I say it has popped and we are at its lowest we are going to ever see again. Time for another bubble to start.
BTW everytime I see your name I think BORED WIFE.. instead of Bored With Life.. Funny how the mind works
06-26-2008, 09:03 AM
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I don't know exactly what the price will be. I'll say $162. I get to that price by assuming the dollar will fall about another 3% to the Euro. Each percentage point is worth $4. Technically, oil, despite the news, has bumped up against the 138-139 level several times without breaking through. There could be a head and shoulders top forming that would argue for a bearish market in the short-term. Somehow, I believe oil will still go up because the ECB seems bound and determined to raise, rather than lower, rates.
06-26-2008, 11:35 AM
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Originally Posted by PolishPilot
My guess, oil will be somewhere around $170 at the end of the summer. Can't wait to pay $7 for regular at the pump. I'm already paying 4.50
I guess its time for me to buy a Scooter anyone have any ideas
06-26-2008, 12:14 PM
#9
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Yeah- Remeber when the $100 hamburger meant going to another airport? Soon that $100 will get you one trip around the pattern and back to the FBO.
I don't think that oil will ever go below $100 bbl again. I'll say we hit $185 before the end of the year, and then it scales back a bit as the economy shows signs of recovery. McCain will be elected and he will call in the national gaurd to bomb all liberals so that we can do some drilling.
If Isreal attacks Iran we're screwed.
I don't think that oil will ever go below $100 bbl again. I'll say we hit $185 before the end of the year, and then it scales back a bit as the economy shows signs of recovery. McCain will be elected and he will call in the national gaurd to bomb all liberals so that we can do some drilling.
If Isreal attacks Iran we're screwed.
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