ZACK U asked:


Oil is increasing because as you get closer to supply overload, perhaps the oil price starts becoming asymptotic.

The economist said speculators couldn’t drive up the price of oil because they are simply trading ‘paper barrels’. However, all this demand for contracts has to increase demand somewhere; They buy oil, then they sell it before ‘delivery,’ but in the process they are increasing demand.

It would seem that oil price could come down fairly easily. There is 1 million barrel discrepancy between supply and demand. With people’s lifestyle changing a little bit, you could easily take out 4 million barrels of demand and then the price could really plummet to 30’s or 20’s.

Nevertheless, this would mean a constant constraint on world growth, as every time the global belly would swell a price shock would ensue; demand growth is faster than supply growth.

It will be interesting to see where it goes. Please leave your insightful comments below.
Eventually high prices make alternatives attractive.

Did you know that hydrogen is cost efficient at 150 a barrel? you can use coal or nuclear to turn water into hydrogen, at an energy loss, but cost is what matters in the end.

Oil will not stay at thsi price but the constraints on growth will… This will mean people will notice another oil shock after it goes down again fairly quickly. This is why alternatives become viable.

The best outcome will be a combination of all the alternatives. And….nuclear power.
Mrs. bugsme…

I think your right about that…it will take a few years before this starts happening though, perhaps two decades…In the transition period, oil nations will have a ball.
in other words..its going to crash and oil nations will not like the outcome (its not their fault or anything that oil has gone up though)…but then perhaps it will go up again a year later, so, its up for grabs.

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Pranav asked:


With ever increasing oil prices, i wonder if it is worth buying a petrol car?

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sir5er2000 asked:


I am trying to search for a website on the internet that I can access daily to find the current price per barrel of crude oil. This would be for the Williston Basin region in Montana.

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