Oil rises to new six-month high.....Do I hear $75, $100, $150, $300

Discussion in 'Wall St. News' started by S2007S, May 28, 2009.

  1. emg

    emg

    oil will be like gold. will continue to go up regardless if the economy is in recession, slow growth, or depression.

    Get ready for stagflation! We are back in the 70s. during the 70s, most commodity markets (grain, meat, soft, energy, metal) went all time high! Currently, commodity market are going up approaching all time high!
     
    #141     Dec 27, 2010
  2. Stop the BS.
    You don't even trade.
    And on top of that, you'd never go long any commodity or equity even with a gun loaded to your head because you've been the ET perma-bear version of Nouriel Roubini, Marc Faber, and David Rosenberg all rolled into one.

    Since you started this moronic thread, crude has rallied 45%.
    And you couldn't even pull the trigger on buying one E-Mini contract, could you?

    COULD YOU???

    :D :D :D
     
    #142     Dec 27, 2010
  3. ammo

    ammo

    letting oil get above 100 will screw up bernanks plan to prop up the market,just food for thought
     
    #143     Dec 27, 2010
  4. pma

    pma

    The lesson here is to NEVER trust the GS slime-balls.
     
    #144     Jan 27, 2011
  5. S2007S

    S2007S

    Imagine a spike back to $150!!!!!


    Do I Hear $150? Oil Prices Could Go Up "Very, Very Fast," Says Stephen Leeb
    Posted Feb 11, 2011 12:03pm EST by Peter Gorenstein in Investing
    Related: xom, xle, cop, oil, uso, bp, oih


    The International Energy Agency raised its crude oil demand forecast this week; at the same time, the IEA noted inventories in the developed world are their lowest in two years. To deal with this imbalance, OPEC is promising to increase oil production by 400,000 barrels per day.

    Unfortunately, raising production might not be enough to stop prices from spiking this year, says Stephen Leeb, chairman of the Leeb Group and author of The Coming Economic Collapse: How You Can Thrive When Oil Costs $200 a Barrel. "What's really important for investors to realize is how sensitive oil prices are to changes in demand," he says in the accompanying video.

    The big issue is that OPEC might not have the capacity to keep up with rising demand for long, Leeb says. "There's much less excess capacity in OPEC than people believe and that, I think, is exactly why you're seeing this incredible relationship between small increase in demand and large increase in oil prices."

    His theory is corroborated by a Wikileaks report released this week, published by The Guardian, claiming U.S. officials think Saudi Arabia may be over estimating its reserves by up to 40%. In cables with a U.S. diplomat, Sadad al-Husseini, a geologist and former head of exploration for Saudi oil monopoly Aramco, warned in November 2007 that Saudi production is likely to hit peak (time of maximum production) as early as 2012.

    If this or any scenario rattles the markets and drives up demand, prices could spike as high as $150, warns Leeb. "You're going to see oil prices go up very, very fast; much faster than people think," he says. That would likely "lead to a real terrible decline in the market and real hardship in the economy." Since the 1970s, every time oil prices rose 80-100% in one year, it's resulted in market or economic calamity, Leeb notes.
     
    #145     Feb 11, 2011
  6. S2007S

    S2007S

    The $4 mark is a tough reminder for American drivers. The last time they saw prices that high was in the summer of 2008, just before the economy went into a tailspin. Retail surveys show that motorists are already starting to buy less fuel, yet the government expects pump prices to keep climbing this summer.

    The national average has increased for 24 straight days, hitting $3.82 per gallon on Friday. Motorists in Connecticut, Illinois, California, Hawaii and Alaska now pay more than $4 per gallon. A gallon of regular cost an average of $3.979 in New York and $3.999 in Washington, D.C.
     
    #146     Apr 15, 2011