How high will oil prices go?
358134
Although there's a lot of oil left in the world, and we agree that there's roughly 900 to 1,000 gigabarrels of oil left in the world, you need to put that in context. Up until the Carter years, every decade, we used as much oil as had been used in all of previous history. Now, with exponential growth, if you're at about a 7 percent growth rate, and we were using oil at about 7 percent more per year, the world was, that explains how we got on that curve. Now, the fact that we have about half of all the oil that was ever in the world still there, doesn't mean that the next 50 years, 100 years are going to be like the last 50 years, 100 years, because the world is now demanding a whole lot more oil. Last year, China increased their use probably 25 percent. In less than three years, that doubles their use of oil. They probably won't continue on that growth path, but India's increasing. China's now the No. 2 importer in the world. What are the consequences of this? Boy, economic and geopolitical. When the world recognizes that there's only so much oil that can be produced, and we need more oil -- by the way, if our economy doesn't grow at least 2 percent a year, we can't service our debt. And if we don't think the economy's growing at 2 percent a year, the stock market starts tanking. You know, we have to get used to the fact that there is not going to be oil in the quantities there have been in the past available in the future, and we should have started a long time ago, 'cause we knew -- the world knew -- by at least 1980, that M. King Hubbert was right about our country. If he's right about the United States, why shouldn't he be right about the world? And we should have been doing some things that we've now blown 25 years, that we could have been doing some very meaningful things to prepare for this time when the world reaches its peak ability to produce oil. We didn't do those things then. We really need to start doing them now.
452439
I think those things will become increasingly important given the trends in the price of oil. Companies will shift to alternative forms of energy to save money. I don't know that it will stop wars among nations.
373802
Eventually, the demand for oil will continue to increase and the supply will continue the decrease.  The only practical solution is to move towards alternative fuel.
480251
Your wage will never reflect the increase, or future increases of the cost of fuel (or any of the other worldly commodities that oil creates).\n\nI have been following the subject of "Peak oil" for about 4 years now and the worlds' dependance on oil. All aspects of our economies (globally speaking) is completely dependant on the stuff and the world is about to learn that, not only can the world not produce it any faster than we presently are, the production rates of global oil producers is about to start its' irreversable permanent decline.\n\nSupply will always go down (aproximately 2-3 percent a year) and demand will continue to go up.  It is predicted that by 2015 that global oil production will decrease 20% and demand will go up 80%.  Think you pay alot for gas now?\nTry $5-$10 a gallon in the NEAR future.\n\nGoogle "peak oil" and spend the next few weeks of your life reading about how we are all pretty screwed.  \n\nLike others have mentioned though, it won't just be gas that goes up.  \n\nEvery piece of plastic produced is made of a by-product of oil.  Every nitrogen based fertalizer that farmers use is a by-product of oil.  In fact you can't find one product for sale in any mall across North America that doesn't owe its' existance, either directly or indirectly, to oil.  \n\nIt is said that if we were to convert the energy that we all benifit from from oil, into human muscle power, we would have approximately 300 slaves working for us night and day, without a break, and having never to feed them.\n\nWell, the slaves are about become unionized and we're all going to have to pay a premium rate for their wages, while our own wages will probably decrease with a recession.\n\nGoogle "peak oil"!!!!\n\nBy the way, hydrogen fuel isn't going to solve this problem.  It doesn't produce fertalizers or plastics.\n\nlisten to this file http://www.globalpublicmedia.com/lectures/156
430448
I think we will probably see gas go to $3.75 a gallon this summer.  I drove to New York this past weekend and a gallon of regular gas was $2.80 and super was $3.05 (Ultra was $3.11)   I really feel sorry for all those people with their super big SUV's.  I think that as long as we keep on making these large cars that are like houses on wheels and keep paying to fuel up the prices are not going to come down...  just think what will happen if Iraq gets sanctions imposed on them by the west....
317663
its mere speculation, \n\nthere is just no economics in the way oil prices are moving..there is no supply problem as of now..but still u can see this surge//\n\nthe prices are news based and manipulated, another interesting observation is that since US plan on IRAN is now more real and around the corner..u knw wat i mean..
728064
Very Profitable. The oil supply is dwindling. If the problems aren't fixed now then they will when the price goes higher.
474948
Well, it won't run out completely, but it is projected that demand will outpace production within that time frame.  This is based on Hubbert's Curve and if you're interested, try researching Peak Oil.  Regardless, when demand outpaces consumption, expect the price of gasoline, and anything else associated with petroleum, to increase in price drastically.
117626
They will end up trying to sell their oil on Ebay :)
619468
Every time anything happens oil prices go crazy... the world's industry runs on oil, so changes, even minor ones, can have a large impact on all world economies...
1129055
Uncap Our oil wells. We have plenty of Our own oil but the libleft  won't vote yes to open them up. We are working on alternatives but its gonna be a long time before we get there, so if we don't start drilling Our own and start modernizing Our refineries the price is just gonna keep on going up. You can't have it both ways.
1087508
Very screwed.  Oil will only go up as we approach (or have already suprassed) the peak oil supply.  At some point, there won't be enough oil to power machinery, to use as pesticide or to make the materials for a modern life. The deficit is insane (thank you Republicans) and will not be gone until another 20 years, if we are lucky.  Our Social Sercurity and all safety nets will be destroyed by the free-marketeers who have enough money so they'll be fine. The government along with the loyal and enthusiastic help of conservatives and spinless liberals is turning us into a police state so get ready for camps. China owns us through Treasury Bonds though that won't stop the U.S. from nuking it in a couple of years. The world will eventually stop putting up with our sh*t and then trade goes down. Basically, we're all f***ed so move out.  I hear Western Europe is nice.
1165074
Well with the look at gas prices rising every year...   Yeah I know sad..  I would say yes\n\nExxon Mobil  these money grabbing corporation is not going anywhere. Even if we change to a differnt kind of fuel... They will still be using oil... for the next couple of hundered years...\n\nI pray that judgment comes before... that happens..
967853
Alternative fuels and they will call the oil industry into Congress again for a "stern talking to..." not that it will help.  Oil industry rises and falls on the price of oil, plain and simple.
748302
The Dems will eliminate the tax breaks that "Big Oil" have, and that will result in Big Oil passing the extra expense along to the consumer. Also, Jim Oberstar will head the Transportation and Infrastructure Committee, and he has stated he will raise the gas tax to pay for the programs he wants put into place.\n\nI wouldn't be surprised if the price at the pumps jumps to over $4.00 a gallon.
912031
It shouldn't...at least not in 2020.  There are enough oil supplies to last till 2050.  And we're still finding new oil fields.
678289
Gas will go up for this holiday weekend, more people travel more profits got nothing to do with supply and demand. Oil traded over $72 a barrel today. So get you gas before it goes up tommorow for the weekend.