Bike Forums - View Single Post - Gas price in 10 years...

11-07-07 | 02:14 AM

#51

ChipSeal

www.chipsea.blogspot.com

Joined: Mar 2007

Posts: 1,026

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From: South of Dallas, Texas

Bikes: Giant OCR C0 road

Quote:

Originally Posted by RobertHurst

No, the Saudis have often stated that 80$ was their threshold and that they would increase production to keep the price below that. They have not shown an ability to increase production, for years now.

Domestic oil production has been declining every year since 1970.

We may see oil down in the 70s again. But 50 dollar oil is a thing of the past, and 200 dollar oil is a thing of the future.

Robert

The technical charts, historical fluctuations, crowd behavior and trends suggest that the price of oil will spike downward to the $60-$63 per barrel range by spring. Enjoy it while it lasts! I would expect it to remain there for a few days. This will probably be the last oil market correction this side of $120. Even a small disruption in supply will enable $150-$180 oil.

I am going to enjoy it by buying oil companies with large oil reserves and some of the small drillers and those who supply oilfield equipment the moment the price of crude hits $65. Word.

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