100 US dollar per barrel oil?

Unknown. For gold? On 6 November: a final Lammert growth fractal of : x/2.5x/2x or 11/27.5/22 of 22 days.

Which investment firm analyst was it that was laughed out of the building for predicting that oil could reach $100 dollar a barrel a year or 2 ago. I think he deserves a big public apology.

Did you know that there's many times more energy still available in all the abandoned oil wells in USA than has ever been pumped out as oil?
Oil is temporary and smelly.
Geothermal is forever.
http://peswiki.com/energy/Directory:Geothermal

From George Asshole Bush..
on down to the jackasses at the airport who make everybody wanna be a terrorist..
USA is being run by zionuts and illiterate boobs.

Hell, even the poor troglyodite russians know how to grow oil underground...
Liquify your biosolids garbage mixed with sewage and pump it underground deep into hot-rocks, add catalyst, add sequestered CO2, add grandmas russian rock virus.

Keep the goddamn sewage out falls out of the rivers and oceans, screw secondary treatment boondoggle ripoff municipal bullshit ulid assessments..
your local government is ripping you off, there is no such thing as liquid waste, it's a liquid energy resource that is not a negative value.
They're poisoning your fish you eat, while they're charging you $100 each time you flush your toilet.
I know this for a fact jack...
how many of you dweebs have ever spent 1000 hours diving on top of sewer outfalls under our rivers and harbors?
do you wanna see my picture album of really ugly mutated fish?

It's all about control by the parasite lawyers and all the other assholes who wear neckties.. I say hang 'em in the trees by their neckties in their shiny pants suits cufflinks and all.

But best of all...
throw away all your combustion engines, they're terribly inefficient..
almost as inefficient as congress-critters.

Soon you'll see fuelcells that burn alcohol like bigpocketwarmers making electricity with no moving parts.
Alcohol can be made from coal or biomass-paste cheaper and cleaner than refining oil.

The electrical grid must next be slotted into the roadbeds..
new inductive coupling technologies, combined with advanced power conditioning methods will take all the power currently being lost from the grid and use it to charge the ultracapacitors in our electric cars..
when you're on pavement you're getting charged, offroad you have 100mi range without hybrid engine.

The hockey stick curve in the oil production chart shows that demand has surpassed supply.

And George Bush refuses to jaw bone the Saudies, his family's business partners and hand holders, to increase production.

demsrnuts and ping,

You both would do well to provide arguments from scientific and/or engineering sources as opposed to news stories (especially from politically biased sources) or your opinions.

Here are just a few authoritative sources for you to ponder.
"Out of Gas: The End of the Age Of Oil" by David Goodstein, a physicist who examines the energetics (things like energy cost in BTUs per energy profit in BTUs).

"Twilight in the Desert" by Matt Simmons. Matt is not, himself an engineer but has studied engineering reports from Saudi oil field engineers.

"Beyond Oil: The View from Hubbert's Peak" by Ken Deffeyes, an oil geologist.

There are many more references, including journal articles that are starting to provide the same kind of information that preceded the realization that global warming was a real phenomenon. Your hasty dismissal of peak oil sounds much more like ideology than knowledge. Sorry.

V.

The sooner we hit rock bottom (maximum price in gas), the sooner we'll start looking at alternatives.

If everyone in this country would just drive the speed limit for one week, we would be swimming in gas and they would have to reduce the prices. I go 60 mph myself, you should try it. This is the only way to fight them on gas prices.

Lots of half truth here. Here in TX and OK the government pays oil well owners NOT to produce oil much like they do the farmers. If the government would make it mandatory to go back and trade oil like they used without the future's market we would not be in that bad shape. Obvious is also the suspicious 1.8 mpg
mandated increase by Bush which he could have alleviated by making it 45mpgs much like the Europeans do. So, ergo, things don't add up.
Milk prices doubled but the farmers are selling their farms because they say they cannot make a living, the middle man eats all the profit.
And curiously enough, milk prices doubled globally not just here.

For Ping and others to pretend that there's a solid economic system out there, instead of the obvious crap shoot, is ludicrous. No one can say for sure how bad it will get or if there will be an upswing, but a year ago there were "experts" predicting that we'd hit bottom on the housing crisis, but that was far from true. Flimsy stuff spoken with authority.

$3 gas. Milk price doubles.

Foreclosures up, home sales down.

Credit card debt skyrockets.

They won't have Jimmy Carter to kick around any more.

The oil producing nations guided by the oil companies will get whatever they want to charge. The question is how greedy are these oil companies? and the answer is? .....

Yet some people claim Dick and George attacked Iraq because "WE" needed oil. But the oil was never for "us." It was always for THEM, the global oil corporations.

Our job was only to pay for the war. It was up to the corporations to reap the profits.

All of the doomsday scenarios being speculated on this thread are unlikely to happen. The largest shareholder of Citi group is a Saudi. Because of the heavy investment by the Royal families of the mideast in the US financial system, oil is not going to be traded in Euros anytime soon.

There will be no collapse of the world financial system. Even with the sub prime lending woes the banking system is still solvent. There are no runs on any banks. Your money is not going anywhere.

As for the collapse of the Stock market, as long as there are buyers and sellers the market works. With the declining value of the dollar , US companies are more attractive than ever to foreign investors. Investment in America still remains bullish.

The world is not coming to an end.

I think the rise in Oil Prices make sense outside of any OPEC production action ... petroleum is traded on the world market in dollars. The value of the dollar is dropping dramatically, but if the Oil Producing Nations are saying "Your dollar is devalued, but oils value itself remains the same." We have our reason.

Therefore, if it cost $30 to buy a barrel of oil and the dollar loses half the value, then it now costs $60 to buy the same barrel.

What Americans really have to be concerned about is OPEC deciding the dollar is too volatile a currency to use for trading and decides to move to the EURO, or another more stable currency.

If that happens then it will be a fire sale on dollars, as Nations start dumping their dollar reserves onhand for oil purchase for EUROs. If that was to occur the dollar would be in freefall and the United States will start looking like Germany in the 1920s and 30s ... not a pretty picture.

$100 a barrel this week?

It really doesn't matter. As pointed out in previous posts we are at Peak Oil. Whether the falling dollar , geopolitical events or speculators are adding $5 , $10 or $25 a barrrel, the fact is we are running out. Oil is a finite resourse.

Diesel is being rationed in China and the French just tapped their strategic petroleum reserve to supply their refineries last week.

Several countries are having demonstrations , even riots over fuel increases. One ignored fact was that the Burmese riots were over fuel prices, not over democracy. Indonesia, although an OPEC member is now a net importer and fuel increases there are causing increasing social unrest. Several other countries are seeing fuel shock and their populations are growing angry.

Watch gas prices this week..