There is no way oil will surpass 150-200 a barrel Even it does it will be short lived Because people adjust accordingly The only way it can happen is when USD devalues but other than that it is impossible
There is no possible way oil can sustain $100+ let alone $150 or $200+, its just not possible, $4.00 at the pump will cut back consumer spending and if oil gets to $150+ or $200+ and consumers have to start paying $5.00-$7.00 at the pump you will see a worldwide deep recession, deeper than the one were in now. Absolutely no way can higher oil prices along with an already weak economy exist.
absolutley not, at the most oil has another 10% higher to go and then a range play between $80 and $100 per barrel.
Actually, Iran still exports 60% less than they did before the revolution. In the early '80s, Saudi Arabia had much excess capacity and was able to flood the market to compensate for Iran. The resulting low oil prices had the added benefit of hurting both Iran and the Soviet Union.
All these analysts become fanatically bullish at the top and downright pessimistic at the bottom. Anyone can have an opinion but I say more than 90% of these analysts are morons.
there will be no recession just because oil hits $150 or $200. people will spend less but oil companies will make more, so it's offsetting. oil companies are included in GDP right? in 2008 when oil hit $150, the oil companies and the state of alaska were making money hand over fist. alaska had a massive budget surplus that year -- in the middle of a recession!! there are plenty of benefactors to high oil prices.
What about all the expensive products/goods because of sudden oil price rise? Transportation is the backbone of world economy and fuel is the basics/ultimate for transportation. No fuel. No movement for goods/transportation. Everybody ends up paying more money for daily products due to oil price rise.
I agreed with you 100%, unfortunately, we've 2 more yrs of Odumbass and if thing settles quickly, good he'll take credit for it, if thing when bad people will have forgotten by the election time.