Who is concerned about the oil price?

Question

oil is at $145 a barrel - no one really knows the exact cause, whether it's speculators, demand from China and India, peak oil...

And obviously, oil is not just for driving - we use oil in almost every single industry. If oil stays at this price, or climbs even higher, it is going to cause alot of disruption - on a scale that is unheard of - estimates predict it'll take 10-20 yrs to untangle the economy's dependence on oil.

So what is your view? Are oil prices going to climb higher or fall?

Answer 1

It will go higher till oil dependent countries cuts down demand for oil. & only recessions can cause that because every trade every business is dependant on energy & transportation.

Answer 2

The price of a barrel of gasoline may be surpassing the $ 150 before the end of the month.  I see, maybe three scenarios.

Scenario 1: If these prices increase, will depend on the decision taken by oil-exporting countries, OPEC (Arab, African, Asian and Venezuela), who at present are those who are taking advantage of this speculation from intermediary firms Western (Transnational oil belonging to WTI (USA) and Brent (Europe), who buy spots in the international market. The member countries of OPEC may decide to declining production and extraction of oil in their territories. If this is so The crisis flared up substantially.

Scenario 2: Given high oil prices, the countries of OPEC decides to increase substantially the production and extraction of this fossil fuel, for sale in international markets, thus forcing lower prices per barrel, up 30% less. This will stop the crisis and lower prices.

Scenario 3: Regardless of the decision taken by OPEC with its oil, if the U.S. decides to invade Iran or promote a guerrilla war, with its allies, on the status of nuclear plants, because it sees a serious military threat and war of that country. As a result, the crisis flared up twice, by the mere fact that Arab countries will not accept this military intervention, have the power to completely stop its oil production, there will be an enormous world crisis, and the price of a barrel of oil would be from $ 300, its immediate effect on the importing countries of this item and its derivatives, would be depleted (economic, political and social).

Answer 3

i work in the oilfield..and all i hear is that its going to keep getting worse..theres no good from here.