Cost of oil...?

Question

Does anyone believe that the price will rise to $425 dollars a barrel by 2020 based on its current rate of inflation?

China's imports grew by 225% between 1997 and 2004.

Per: http://en.wikipedia.org/wiki/Chinas_econ...

imports: 3.181 million bbl/day (2005)

* Last question, as a poll; in the past week, how many people last rode a bike to the store or Target?

Answer 1

Probably not.  Consumption would slow to the point where we would have a glut of supply and the price would stablize somewhere lower.

Answer 2

I wouldn't disbelieve it, however, I don't keep as strong of an eye on inflation and such as I should.

As for the bike, yes, I've been riding it everywhere. But I don't go to Target. Just to the local grocery and campus and such.

P.S. Riding a bike is statistically safer than riding in a car. You just have to take the proper precautions, but that is true of anything that you do. Don't let the "safety factor" dissuade you from doing something that is better for your health, better for your community, and better for the global environment.

Answer 3

riding a bike is dangerous . in philadelphia pa in the city so many cars and people walking.. a car cannot see a rideer staying close to the parked cars.. riding on the sidewalk can injure someone not expecting you.. riding on the street is scary.. i tried it and the only way is to ride with the traffic coming toward you.. that way you can get out of the way quicker.. you are taking a chance unless on a bike route.. as far as the cost of oil it is allmost at the four twenty five mark  in new jersey it is 3.39 today.. other places it is three eighty.

Answer 4

maybe, who knows!

Its always raising, and it sucks.

my aunt is going all the way over to Mexico just to get gas for her trucking company! (she was on a couple news.)

Answer 5

i dont think so

like its wayy too much.i mean no one would buy gas.people would start using bikes and would walk more.like the bus fees would raise.no one will want to pay.even if they raise it that much a lot of people would go againt it

Answer 6

What allows the price of a commodity to continue to rise in price is public perception that they are still getting value for their money When using a commodity causes us to spend more money than it gives us benefit, we cut back on consumption, use it only for things that it still makes sense.

However 425 a barrel after 12 years, with the value of the dollar dropping progressively through that time, yes, it likely will get there.

I would be more surprised to see it fail to reach 200 by 2012. and doubling again by 2020 looks like it would happen.

But it may no longer be Americans buying up most of  the oil. US dollars may no longer be part of the oil trading scene. Oil exporters will insist on more stable currencies.