Well it has been steadily rising for a while now.$10 would be nice but I don’t expect it.
locally weve been warned by the daily fish wrap paper that “Low Gas PrIces” are coming to an end....
If you know what’s going to happen in the future, then you should be buying futures. But experience has shown that only half of these predictions come true....
Later
I’ll take the over, Alex.
Then why did my gas prices go up another dime last night?
When oil is $120 and people talk about $500 a barrel oil it’s a sure sign the price is about to drop. Now that it’s at around $50 any talk about $10 a barrel oil is a sign it’s about to go up.
Oil going to 1 cent per barrel !!!
NEWS FLASH !!!
And now, an important message:
Oil will now be given away for free by the US government to its sheeple.
It will be rationed based on how well sheeple follow orders.
Oil will be now as cheap as dirt !
And thus we will try to make all the Putinistas on FR tell their master, Putin, that he must surrender the Ukraine to Amerika and Europka !
ONE WORLD GOVERNMENT WILL BE MASTER OF ALL !
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Remember, think stupidly, act lemmingly.
Gary Shilling has been a deflationist for a long time, and he’s been right about lower and lower bond yields, and deflationary pressures on pricing. At some point, he’s gonna be wrong, and inflation will return.
On this one... oil at ten bucks/barrel... I think he’s gone one prediction too far. I stake my reputation on it (limited as it is).
Take note. Must economic predictions are wrong.
Prices around here have risen about 18-22 cents per gallon in the past 10 days.
Seems a lot of production would stop well before $10, and that would necessarily keep the price higher.
Expect to have to wait in long gas lines if that happens. The oil companies will shut in wells and shut down refineries because they would be losing over $20 per barrel. So the supply of gasoline will dry up.
10 bucks...a gallon probably. Bloomingidiotberg...sheesh.
Oil and gas prices are going back up. Gasoline in the last three weeks (in Tulsa) has jumped in about 5-10¢ jumps at a times ... five or six time in this time period. Yesterday it jumped 10¢ a gallon.
That writer is smoking something, or he’s in a time-warp from about four weeks ago! ... LOL ...
Three weeks ago, I would have considered agreeing with him, but not now. The prices, they keep going up. The “dream” is over!
$10 oil could cause a world war III if it stays that low for any length of time and would also destroy the world economy. Then again, maybe that is what’s needed. At some point in time, the reset button has got to be pressed. It can not continue the way it has been going. On the bright side, if that ever happens, maybe an alternative clean energy source can then be implemented if it exist.
If you are a writer for Bloomberg and desperately need people to read one of your articles; a headline stating 10 dollar oil coming; is good way to get the attention your ego desires.
Just Saying!
Not gonna happen. Too many places are rendered unprofitable at $50, as they fold supplies will drop and the price will go up.
I like his thinking.
The frackers are quickly taking the US off the mideast oil consumer list.
The towel heads are going to find their new “bestie” is a country with mafia business practices and 1.5b expendable people to enforce them.
Since most Islamic terror is financed from this source, I see it as a most welcome development.