Posted on 03/23/2013 2:33:16 PM PDT by Laurent.w
Oil prices could rise to anywhere between $150 and $270 a barrel by 2020 as demand growth in emerging markets like India and China out paces expected supply, the OECD said Wednesday.
The report shows the central role that Asian oil demand will play in determining prices, even as the U.S. reduces its need for energy imports amid a surge in its unconventional hydrocarbons production. Earlier this week, the U.S. Department of Energy reported China overtook the U.S. as the world's largest net oil importer.
(Excerpt) Read more at 4-traders.com ...
All the more reason to frack and drill for more of our oil and gas, and get more trucks converted to be able to run on either diesel or LNG.
Just another attempted self-serving prediction. Completely worthless. Shame on you for promoting it.
With dip shiite in the White House, I won’t be surprised to see this prediction come true.
Accounting for 10% monetary devaluation (US $1.4 T deficit against $14 T GDP), that increase is virtually all ‘inflation.’
REGARDLESS of whether the price of oil is going up, level, or down, it is in the strategic interests of the US to have as much of our energy needs as possible coming from domestic production.
That will never happen as long as the Demonrats remain in control. And almost all signs points to their continued and even more destructive rule.
Great! By then the oil and gas rich states should be rolling in dough, while those run by Democrats and their enviro-nazi base should be begging for the few pennies left in the US Treasury.
We need more nuclear plants built out west where yucca mountain awaits.
FLASH!: Anyone can make predictions and some idiot blog or paper will report them. How does this guy know the future?
Drill here. Drill NOW. Build Keystone Pipeline. Frack all we can.
Let the rest of the world drink their damn oil; and eat their damn sand. We should be energy independent. And, only the (lack of) will of the spineless political class and the elected aristocracy stand in the way.
“Or crude could be $35 a barrel with open markets with American oil. I heard that Dakota oil cost about $18 a barrel to produce. Obama’s attempted monopoly needs to be broken. “
I don’t know where you got those figures. I am in the oil business and the info I get is that the cost is about $70 per barrel. Horizontal drilling is a very expensive process. Also the decline rates on the horizontal wells are very steep so the economics at today’s prices are questionable. We do have more oil to produce but it is not going to be cheap.
We do have more oil to produce but it is not going to be cheap.
In an open market it will not be $200 a barrel though. I got the $18 directly from the mouth of the guy pumping gas next to me. It sounded good.
“In an open market it will not be $200 a barrel though. I got the $18 directly from the mouth of the guy pumping gas next to me. It sounded good.”
That depends a lot on how much more money the fed prints. I guess since he was pumping gas he must be an expert. :-)
I guess since he was pumping gas he must be an expert. :-)
The only ones that sound better are the guys next to you at a bar after a few drinks.
I prefer the expertise of cab drivers.
That is just inflation, thank dumBO and the Fed.
I saw a cab a few months ago.
It’s already happened and is continuing to happen. There’s at least four big drilling rigs within a 20 minute drive from my house. The deep wells are are not being immediately produced. There’s not only an over supply of natural gas on the market, there’s far more where that came from when someone completes the collection pipelines and opens the valves. A lot of the wells are shut in.
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