[VOR78]

And who is going to buy your $400/barrel oil? No one. The majority of people in this country can barely afford $2.50/gallon gas as it is! Even on your low side of $150/barrel, if sustained, I think you would see a worldwide economic depression soon result that would push oil prices back down to $10-20/barrel.

Even at current prices, I think its unsustainable and will cause a global recession in 6-12 months, with oil prices falling to around a more realistic $40/barrel.

[atlanta67]

i think youre right

[HuronMan]

The Chinese demand will start to fall rapidly. How can the Chinese general public afford to purchase gasoline at these ridiculously prices? Americans, even the the Wal-Mart shoppers, have deeper pockets that the Chinese motorists.

[the invisib1e hand]

if defukin thinks oil is going to 400, I'll sell him all he can buy at 150 right now.

[thackney]

The majority of people in this country can barely afford $2.50/gallon gas as it is!

If they can barely afford it, can you list some of the changes the majority have made in their lifes?