How High Can Crude Go In Price?

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Karlsweldt
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How High Can Crude Go In Price?

Post by Karlsweldt »

Guess a lot of people are in true shock to hear the price of a barrel of crude has topped $119.00 USD! Crude Profile:
And where will it end?
That reflects on what is paid at the pump. Current fuel prices:
Maybe it is time for someone to go to court for a 'show cause' order so those commodity traders can explain why the price is so outlandish!!
The world's economy is at stake!
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Post by iamwhoiamtoday »

It's almost $4 per gallon here in CA, and it costs me about $55 to fill up my tank (1997 Avalon)
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evasive
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Post by evasive »

That is not the real question. How much more can the dollar plummet compared to any other currency. If you check out the pricing in euro's or any other currency that does stand its ground the crude oil price hasn't risen all that fast.
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Post by thomas_w_bowman »

How high can crude go up in price ?

How much have you got ???

The idea of a 'PetroDollar' was a bad idea in the first place - but I'm sure they'll switch to Euros once the dollar devalues enough.
Speculators aren't helping either.
At least we can still buy all we want... :roll:
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Post by Pette Broad »

Just an estimate, in ten years from now, $250 minimum, maybe as much as $400. 10 years on from that.....double those figures and that's if all is peace and harmony in the oil producing countries.
At least we can still buy all we want...
For now. :(

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Post by OldPhatDad »

As long as it's a commodity in high demand (and our North American society basically revolves around oil), it can keep rising in cost.

I'm in Canada (west coast) and after currency conversion, our gas is just under $4.75 US per gallon ($1.27 CDN per liter). So I'll take your California gas price right now! :lol:
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Post by Daft Ada »

iamwhoiamtoday wrote:It's almost $4 per gallon here in CA, and it costs me about $55 to fill up my tank (1997 Avalon)
Think yourself lucky you're not in the UK. I'd love a full tank of petrol for $55. It costs me about $100!
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Post by Karlsweldt »

Definitely the devalued U.S. dollar has prodded the rise in crude prices. But the greed and "bragging rights" of certain commodity traders is more at fault.
The Canadian Dollar is quite close to the U.S. dollar value.. but was about 1.5 times higher in exchange rate, not too long ago. And the British Pound was once at £2.80 per U.S. Dollar. Current Exchange Rates:

There are too many variables to enter into the equation.. trade deficit, Middle Eastern strife, import surtaxes.. to name just a few.
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Post by Pette Broad »

And the British Pound was once at £2.80 per U.S. Dollar.

I think you have that the wrong way round should be $2.80 per £ :) . That was a fixed rate till 1967 when it went to $2.40. At one stage during the 80's it was as low as $1.06.


There are too many variables to enter into the equation.. trade deficit, Middle Eastern strife, import surtaxes.. to name just a few.
Fair comment, I based my estimate on the long term running down of Crude Oil reserves. Let's see what the next few years bring.
It's almost $4 per gallon here in CA,
Still cheaper than a gallon of beer though :)

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Post by Copper »

when you take out one of the large oil producing countries called iraq, all i can say is reep what you sow
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