What do you think will happen over the next 4 -6 months with the oil, and thus also the petrol price?
595280
My economic knowledge tells me that I hope it goes up up up. My company pays for my gas, and as a resident of Alberta, Canada I stand to share in the wealth that the province brings in from oil revenue royalties. My family got a check for $1600 this last time, but with the current (and rising) oil prices the next one could be much higher. \n\nMaybe people will stop buying stupid SUVs too. I just bought a Honda Civic and it gets great milage. \n\nIf the USA continues to try and clense the world of anti-western democracy govenments (Iran, N. Korea etc.) this trend will continue. If faith in the US dollar doesn't improve, people will continue to invest in commodities like Gold, Silver, and Oil, thus driving the prices up.
551795
I Think:\nPetrolium (gas) will be well over $4 allover the world by July. But nows its only $2.99 a gal here.\nStupid lack of oil refineries by big oil money people\nGold will be substitutable in 2010 but for now, the price will escalate
611507
It has already started to move down from the high of 105 to 70.  Since the company is on the fast track to commence production in the next 3 years. The target for the next 6 months  trading price will be around 30 and the book value will be 10.  There will be a lot of spade work for recruiting the field level force, masonry, machinery for construction and to  commence work  in full swing will at least take 6 months and the man soon is also there to interupt work. So there is no hope for any sky rocketing of the share price.
1049330
I dont disagree with your theory.  I just want to add one of my own that helped push the prices up.\n\nA few years ago the oil futures went on the public trading market.  Yes.  The public, the entity as a whole that believed everything from the world is flat to Milli Vanilli can sing, is at the helm of the future prices of crude.  Can you imagine what happens when the public hears that there was a problem, of any magnitude, to a oil line or ship?  What happens when summer comes around and naturally the public again buys up all the oil futures in hopes to make a quick buck.\n\nGreed is what drives prices.  The greedy people that are making the money will call it marketing/economics.  No one entity is to blame for the results.  It would be too easy.  Just dont leave out anyone at fault.  Bush, Iraq, war, EPA, tax, and even the public are all together and individually at fault.
587783
What will happen in the future is anyone's guess. My guess is there will be a lot of panic, much like there was back in 1999.
202996
I have! Oil prices go down and gas goes up. Supplies increase the price at the pump goes up. The 2nd biggest oil deposit in the world comes under U.S. control.... You get the idea. Enough is enough. His friends have all made a buck on this insanity, let's go back to $1.00 a gallon.
84095
We'll spend $6 or $7 a gallon for gas because:\n\n- We're willing to.\n- Supply and Demand will dictate that price or higher.\n\nI saw a segment on 60 Minutes a couple weeks ago about huge reserves of oil in Canada. The reserves reside within soil.
506424
Gas prices are going up everywhere for a variety of reasons, not all of which are "greedy oil companies." But I won't go into that.\n\nBecause of the mild winter we've just experienced, there is quite a bit of oil supply right now. I think prices will drop soon.\n\nBest of success.
378056
They'll just keep putting the prices up because they know that companies and individuals have no option but to pay.  It's what's heppened here in the UK where gas is now more than $7.50 a gallon and demand is still rising.\n\nThere won't be fuel rationing unless there's an actual shortage of fuel and that doesn't seem likely.\n\nI can only speak for the UK when I say that there has been fuel rationing - during the war and during the oil crisis of the early 1970's.
690244
Gas prices are rising due to the rise in the price of crude oil.\n\nThe price of West Texas Light Crude rose to over $70 a barrel on the international market, although it has now fallen to $69.63. The price of Light Crude tends to be higher than other Crude Oil prices because it contains less sulphur. This reduces the refining costs involved with making petrol that conforms to the environmental standards in the US and Europe.\n\nAlthough OPEC and other Oil producing countries have increased production of oil, the demand is outstripping the supply.\n\nThe economy in China is growing fast and as the masses enjoy more disposable income, they buy cars which in turn require more oil.\n\nThe Indian economy is also getting stronger and they too are buying more oil.\n\nA further complication that adds to the demand is the lack of refineries. The efficient refineries are operating at almost full capacity which means that less efficient plants are being pressed into service. The problems in obtaining refined product places further pressure on demand side prices.\n\nOn the supply side, there are political uncertainties in a number of big oil producing countries. Such uncertainties cause problems within the supply chain and cause prices to increase.\n\nOPEC cannot produce enough extra oil to satisfy the extra demand.\n\nIn the past, Russia could be relied upon to pump extra oil. However, Russia is busily re-nationalising Oil Production (e.g. The recent Yukos case). This means that Oil production in Russia has fallen away from 2004 levels. Although Russia has huge reserves, it will be a while before production starts to grow again and so they cannot be relied upon to meet the extra demand. \n\nVenezuela is having a little spat with US Oil companies. Go Venezuela! Unfortunately, this is also effecting supply. \n\nNigeria, well is Nigeria. However, the locals are not happy with the way that oil companies operate and have taken to protesting over the way their land is being poluted. Local bandits and industrial unrest all combine to threaten oil supply.\n\nThen there is Iran which is in dispute with the west over Uranium enrichment.\n\nWhenever demand outstrips supply, speculators get involved. The US leads the way in commodity speculation. With continual upward pressure on the price of oil, speculators are having a field day.\n\nThe complication that the US has brought to speculation factor is the invention of 'virtual speculation'. These are speculators who speculate on the commodity speculators. This in turn causes prices to fluctuate more wildly and pushes prices even higher in a rising market or lower in a falling market.\n\nThe only way to improve the situation would be to either increase supply or reduce demand.\n\nIncreasing supply will take many years to be effective.\n\nTherefore the only way to reduce prices is to reduce demand. So, if everyone used less fuel the prices would fall.\n\nTime to dust off your old pedal cycle?
1056073
It is a real concern, but whenever someone makes a prediction about when a country of the world will reach peak oil output, they do so with what then is considered a researve.  As the cost of a barrel of oil increases, sources for oil that were once not considered a researve then become on because at that cost it is economically viable to recover it.  With the recent spike in oil prices, North America can now clasify the tar sands in Canada and the oil shales in Colorado oil researves, and that being the case, it is estimated that in the US alone, we now have more economically recoverable oil then Saudi Arabia, the worlds largest exporter.  As the price continues to increase, other marginal sources will become economically viable.  Sooner or later, we will reach a point where there simply isn't enough oil available for any price, but that is still a ways off yet.  I believe that before we reach that point, oil will be more expensive then alternate fuel sources.  Through simple economics, I believe that people will begin using these alternate fuels simply because they are less expensive.  I believe that the high cost of oil will spawn invention and inovation into the energy sector, and I believe that has already begun.  We are working on increasing production of biodiesels and ethenol, and there is increased research into fuel cells and electric autos.  I think the future lies in hydrogen burning technology personally.  We already have engines that burn Hydrogen, but we're still working on the fuel tank dilema.  So, for a long answer, I believe that there is and will be time. I'm looking foward to being put out of buisiness.
424640
First, we'll start running out of it.  Prices will go up.  It will be more expensive to drive, and everything will cost more because it takes gas to ship stuff everywhere.  Airplane travel will skyrocket in price because planes use so much gas.\n\nSecond, there will probably be more wars over oil in the Middle East.  Saudi Arabia has so much oil- it seems like a likely target, either through inciting a civil war or from the outside.  The US will probably be involved in whatever war starts, because we need so much oil here and we have such a big military- we feel like we can take what we need without caring about the people who actually die for it.  China may also be involved in some of this conflict, for similar reasons- big military, huge oil consumption.\n\nThird, people's lives will start to change.  If oil is used up, people may start actually using the altnerative technologies we have available- wind, solar, natural gas, and coming up with cheap ways to spread it around.  More hybrid cars, windmills, solar panels, but maybe a new system to dispense natural gas nationwide at gas stations, if that ends up powering our cars.\n\nFourth, eventually the environmental costs of all our oil consumption will start to catch up to us.  Global warming is already a problem: warming means ice melting, and when the polar caps melt the oceans will rise.  Coastlands will be submerged gradually, first with little islands vanishing(already happening) and then with flooding in coastal wetlands and places like Venice (also already happening).  Despite all this extra water around, it's going to be salty water.  Warming also means droughts and desertification as temperatures rise in tropical regions, especially.  Lots of people will die in sub-Saharan Africa because of a lack of clean drinking water (also already happening).  Fertile land will diminish worldwide, and more people will die from starvation than do already.\n\nThe next wars won't be fought over oil, they'll be fought over water.  Look at the American southwest, and the controversy over the Colorado River/ LA and you'll get an idea of how much water rights mean already.  Dams and river diversion will cause international incidents, and we'll have to make some fast advances in desalinization technology if we want to fight back against these rising tides.\n\nIt's not hopeless, just really, really difficult.  And it gets harder the longer we wait to do something about it- so start today and try to conserve oil.
547632
it will be by the year 2053.when the last drop of oil is sucked.
728064
Very Profitable. The oil supply is dwindling. If the problems aren't fixed now then they will when the price goes higher.
1029305
It depends on who you ask.  In the United States it depends on whether you are a Republican or a democrat,  a neo-conservative or a liberal.  Both parties are irrelevant as this is a scientific question. \nIf you listen to UK based Colin Campbell, oil will peak around 2016.  Keep in mind that you must consider middle east oil producers, and countries outside of the middle east, which are expected to peak a lot sooner.  However, the US Geological Survey paints an extremely Rosy picture, with oil production most likely to peak around 2040.  I would say it has a built in optimism since it doesn't factor in geopolitical events.  It also depends on the amount of conservation and alternative energy sources being developed and utilized by the world.  This will also effect production.  You can find this data in the June 2004 issue of the National Geographic Magazine.  US president George Bush plans to stay in iraq until 2016.  Coincidence?
993916
My opinion is only worth two points.\nBut the chance of oil topping $100 per bbl is greater than its dropping under $50.
12059
Watch for a pre-hurricane season run in the spring/early summer.  VLO, CHK and ECA were good to me last time oil prices were climbing.  Wait for momentum to kick in that sector again.