Oil could hit $220 on MidEast, N Africa

Discussion in 'Wall St. News' started by Grandluxe, Feb 23, 2011.

  1. 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
     
    #11     Feb 23, 2011
  2. S2007S

    S2007S

    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.
     
    #12     Feb 23, 2011
  3. on the flip side...what would go south down...the Dow? 10 yr? Grains?
     
    #13     Feb 23, 2011
  4. toc

    toc

    absolutley not, at the most oil has another 10% higher to go and then a range play between $80 and $100 per barrel.
     
    #14     Feb 23, 2011
  5. bawr

    bawr

    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.
     
    #15     Feb 24, 2011
  6. If not $220, oil will reach $150.
     
    #16     Feb 24, 2011
  7. schizo

    schizo

    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.
     
    #17     Feb 24, 2011
  8. 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.
     
    #18     Feb 24, 2011
  9. 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.
     
    #19     Feb 24, 2011
  10. Atheist

    Atheist


    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.
     
    #20     Feb 24, 2011