Thread: Cross your fingers $50 barrel of oil

Bloomberg.com: Energy

My friend who is a trader, in the oil pits, said that sometime around spring you MAY see oil around 60-75 a barrel.

YEY!
2$ a gallon ftw.

$50 oil = bad news

We'd just get complacent again. We really have to develop alternative sources. Electric cars charged off a nuclear powered grid. And everything else we can develop. Think how much easier life could be if we weened ourselves off middle east oil.

Originally Posted by navychop

$50 oil = bad news

We'd just get complacent again. We really have to develop alternative sources. Electric cars charged off a nuclear powered grid. And everything else we can develop. Think how much easier life could be if we weened ourselves off middle east oil.

+1

The only reason we are finally getting off our fat asses and working on alternate energy is that it now can make a PROFIT to do other sources.

It Oil goes way down again, we will stop development like we did in the 70's, when there were 2 hour gas lines, and we pushed alternative energy. OPEC openned the valves, supply increased and we quickly forgot about alternate energy stuff.

I am one who wishes gas went to $5 a gallon and stay around that. There are alot of alternate energy sources that $5/gal would make profitable to develop

Then once developed, the cost to make then would go down, gas/oil would then compete against the alternatives and prices would stabilize alot lower.

Now this is 5-15 years away, but if we don't start, we will never get there. If we started in 1974, we would have had it in the 90's easy.

How can it be bad news for those people who are currently struggling to work and provide for themselves and their families? Do you like the fact that the high price of fuel has pushed up prices on everything that has to be transported and everything thats made from oil? Theres still an awful lot of people in this country who are living on low income minimum wage income and fixed income and the rise in prices has been to be blunt killing them slowly.

Originally Posted by Van

How can it be bad news for those people who are currently struggling to work and provide for themselves and their families? Do you like the fact that the high price of fuel has pushed up prices on everything that has to be transported and everything thats made from oil? Theres still an awful lot of people in this country who are living on low income minimum wage income and fixed income and the rise in prices has been to be blunt killing them slowly.

The price of oil affects everyone and everything. Try to name something that isn't affected by oil.

Brazil started to shift to ethanol in the 70s, after that gas crisis. Now, thirty years later, they've pretty much completed the process. I guess our politicians can't look that far ahead.

Every time I see some teenager weaving in and out of traffic, "in a hurry" - I think the price of gas is too low. But I don't want to pay more, either.

Originally Posted by navychop

Brazil started to shift to ethanol in the 70s, after that gas crisis. Now, thirty years later, they've pretty much completed the process. I guess our politicians can't look that far ahead.

http:////www.lewrockwell.com/orig7/desousa1.html

I agree about the politician part, but not so much the Ethanol part (I say we should've been drilling more of our own oil 30 years ago-but you're right..politicians can't see the forest for the trees), with all due respect..And by all due respect, I mean just that. My post wasn't intended to start anything or demean anyone's opinion. You know how things on this site get misconstrued very often over almost nothing..