Where are oil prices headed?

Question

Where are oil prices headed? $150, $200, $500 per barrel?

Answer 1

I am thinking that it is going to peak out at an upwards of $200-225 bucks... then fall dramatically

Sadly in the 1990's there was very little exploration for new oil reserves. This occurred because the price per barrel revenue was so much lower than the potential revenue that could be gained by finding new oil reserves. Because the price per barrel has been rising so quickly, people and businesses are more likely to explore for new reserves... as soon as that happens, they will flood the market with oil causing the oil bubble to bust and prices to fall dramatically...

my prediction... end of August... you'll see price per gallon at $2.50

Answer 2

Rising very high!

Answer 3

Up, that's for sure.

Answer 4

Into the sky.

Unless sources like solar or wind power which have always been there around are harnessed. Then oil is to be used for partially powering means of transport. Commuting for work that entails two dwelling units, one for work and another for sleep, needs to be curtailed.

Answer 5

up

Answer 6

oil prices will go up to the extent that the dollar goes down.  

who can put a number on that, and why bother?

Answer 7

up

no question needed