TF36DSMatt
SoCal
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Joined: 05/15/2007
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TF36DSMatt wrote:Draw your own conclusions from the data but personally I would not be suprised to see $60 oil within 2 years.
I posted the above back on page 6 of this thread.
With oil closing at $87/barrel today down from a high of $147, it looks like it might not be a full two years to get back to $60 after all. Only $27 to go.
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Fezziwig
SF bay
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Joined: 07/25/2008
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Why do you think it will continue downward?
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RV-1/2n-FUN
FL.
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Joined: 03/30/2003
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TF36DSMatt wrote:TF36DSMatt wrote:Draw your own conclusions from the data but personally I would not be suprised to see $60 oil within 2 years.
I posted the above back on page 6 of this thread.
With oil closing at $87/barrel today down from a high of $147, it looks like it might not be a full two years to get back to $60 after all. Only $27 to go.
$60.00/barrel? I don't think in my future, but I'm a pessimist, so I will be correct or pleasantly surprised.
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Fezziwig
SF bay
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Decreased demand in the USA has reduced prices a little the last few months, but there's nothing in place to sustain that reduction, and foreign developing nations (China) continue to increase demand.
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topflite51
In The Desert of Nevada
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Joined: 05/13/2004
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Fezziwig wrote:Decreased demand in the USA has reduced prices a little the last few months, but there's nothing in place to sustain that reduction, and foreign developing nations (China) continue to increase demand. You are such a wet blanket. It doesn't hurt people to dream.
 David
Just rolling along enjoying life
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AO_hitech
SF Bay Area
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Joined: 08/09/2004
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Demand changes have very little to do with the price changes, except for how it influences speculators.
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TF36DSMatt
SoCal
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Fezziwig wrote:Decreased demand in the USA has reduced prices a little the last few months, but there's nothing in place to sustain that reduction, and foreign developing nations (China) continue to increase demand.
Quite the opposite...
Where do you think all of those Chinese-made goods get sold? Right here in the headed-for-recession western world. The oil market is currently pricing in decreased forecasted demand for oil in China based on new developments in the health of the world economy.
Why aren't the pipeline bombings, Nigerian gunboats, and 5 billion oil-hungry Chinese driving the price into oblivion now? Nothing has changed with respect to those supposed "causes" put forth by the media outlets but yet the price of oil has been almost cut in half.
You have witnessed a speculative bubble just like any other.
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AO_hitech
SF Bay Area
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Joined: 08/09/2004
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TF36DSMatt wrote:Why aren't the pipeline bombings, Nigerian gunboats, and 5 billion oil-hungry Chinese driving the price into oblivion now? Nothing has changed with respect to those supposed "causes" put forth by the media outlets but yet the price of oil has been almost cut in half.
You have witnessed a speculative bubble just like any other.
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Fezziwig
SF bay
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Chinese and Indian demand is in a long term secular increase and the oil companies will be glad to supply that demand by doing a "drill baby drill" in the USA OCS and ANWR and then exporting the oil to China and India. And why not? Nothing to stop them.
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SRT
Head of the Lakes, MN
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Joined: 02/18/2001
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Gas prices have been plummeting up here at the head of the lakes. This past week have seen prices dropping from $3.42 to $3.09. Haven't yet seen the prices today. Diesel prices were around $3.90 a gallon.
Too bad I had filled up the MH with $3.52 a gallon gasoline. 
SRT
2000 32' HR Vacationer with Banks
1998 Subaru Outback Ltd. 5 spd
Brake Buddy & Blue Ox Aventa II tow bar
FMCA #266040 HRRVC #84109
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