Will oil hit $175.00 a barrel by May 2009?

Question

Will oil hit $175.00 a barrel by May 2009?

Answer 1

I think that depends on the American people since oil prices are based on supply and demand.

If we drive less and use less, oil will cost less.

Answer 2

No. With Bush out of the way by then, the big oil companies will rein in the prices, and give the new guy a chance to play 'statesman' - until the defence lobby gets hungry again for more action in the Middle East.

Answer 3

I don't know about 5/09 but eventually yes it will. We may drive somewhat less but when we really need it we will pay whatever the price of gas is.

Answer 4

No. For one thing, the US dollar will be stronger by then, it is already strengthening. The economy is slowly, but surely showing signs of improvement. It's won't be booming by May '09, but we'll be able to see the light at the end of the tunnel. Demand will be lower because the rest of the world will still be hurting from the global economic slow down.  

Answer 5

Depends on what happens.

Answer 6

Drive less, cost less does not work. Mostly because it will never happen.

We complain about gas, yet we drive two blocks for a case of beer when we could walk.

Also why do we complain about $4.00 a gallon when we spend $1.00 or more for a 12 ounce bottle of water?

We pay for water people, it is no wonder gas is so high.

Anyway, $175 a barrel is not out of the question and highly likely.

Answer 7

More likely $75.

Answer 8

No dear, the dooms day for the poor is fortunately not so near.