$100 Oil Competition

snow hope · Post by **snow hope** » 29 Jun 2007, 08:58

Folks, from what I can see, I think we will reach $100/barrel this year. I say this because I see the whole PO situation coming to the fore much more than it has to date and I think the wheels are going to start falling off.

My prediction is 29th October 2007.

(I hope I am wrong as it will impact us all financially!)

Ballard · Post by **Ballard** » 29 Jun 2007, 10:12

29th Oct 2010

Adam1 · Post by **Adam1** » 29 Jun 2007, 10:59

Are we talking about a price sustained for a period, say a month or a quarter, or just a day or two?

Post by **clv101** » 29 Jun 2007, 11:30

3rd Sept. 2009.

snow hope · Post by **snow hope** » 29 Jun 2007, 11:34

Adam1 wrote:Are we talking about a price sustained for a period, say a month or a quarter, or just a day or two?

I think the definition is $100 at close of business on any day.

Silas · Post by **Silas** » 29 Jun 2007, 11:42

No idea...dam stuff is cheaper than fizzy pop! it should cost $400+ per barrel minimum and the profits should be used to subsidise sustainable energy transition and mitigate global climate change...THATS THE END FULL STOP

Erik · Post by **Erik** » 29 Jun 2007, 11:59

Seems like a popular date so I'll have 29th October 2008.

Perhaps it'd be more "fun" (in a sick sort of way) to guess what maximum price will be reached before the end of 2007. I think we will see $84 max

PS_RalphW · Post by **PS_RalphW** » 29 Jun 2007, 12:18

I think $84 by year end would be reasonable if we get lucky - no significant interruption from hurricanes /terrorists/ accidents.
The met office has revised this year's hurricane forcast to be below
recent average in GOM, so we may dodge that bullet. If the sub-prime
mortgage bubble claims a major hedge fund scalp in the US we could
actually see prices drop - a bit!

I'm less panicy about US adventurism at the moment. I don't think Brown
would give political cover on an Iranian attack. Mind you, if London
was hit by multiple car bombs, then arms might be twisted....

PaulS · Post by **PaulS** » 29 Jun 2007, 12:40

28th August 2008

We might see US80-85 this year, but 100 will I think take a little longer.
Every time there is a bit of a jump in the price, some poor old bugger somewhere in the 3rd world can no longer afford to use oil, so the price slips back a little again. And then we wait for the next increase in consumption or, by then, maybe even decrease in production, to trigger the next little jump.

The price will be volatile on a rising trend, me thinks

Post by **mikepepler** » 29 Jun 2007, 14:21

I think the economic difficulties currently unfolding will prevent the price climbing too fast, but there's always the weather, accidents and terrorists to factor.

I'll go for 28th April 2008

Adam1 · Post by **Adam1** » 29 Jun 2007, 14:56

I'll go for 20 August 2008. I think it's the time of year with the highest consumption globally (US driving season) and it's hurricane season. Plus it'll be in the lead up to the next US presidential election and they'll be trying hard to hold their economy together before the November vote.

Aurora · Post by **Aurora** » 29 Jun 2007, 15:51

RalphW wrote:I'm less panicy about US adventurism at the moment. I don't think Brown would give political cover on an Iranian attack. Mind you, if London was hit by multiple car bombs, then arms might be twisted....

I'm sure that could be arranged if they wanted public opinion on side.

Adam1 · Post by **Adam1** » 29 Jun 2007, 16:03

Adam1 wrote:...Plus it'll be in the lead up to the next US presidential election and they'll be trying hard to hold their economy together before the November vote.

Am not so sure about this assumption now...

The Independent wrote:Most of all Cheney seems to ignore public opinion as he seeks to remake the US way of doing business at home and abroad. As he told Fox News last month: "We didn't get elected to be popular. We didn't get elected to worry about the fate of the Republican Party."

Totally_Baffled · Post by **Totally_Baffled** » 30 Jun 2007, 12:15

I will go for June 30th 2010.

LOL talk about mindless rabid optimism

Andy Hunt · Post by **Andy Hunt** » 30 Jun 2007, 17:57

April 1st 2008.

Wars in the Middle East always seem to start around my birthday mid-March, so by 1st April I reckon we should be through the $100 barrier.