Will the oil price continue to go up in the coming years?

Question

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Answer 1

In the short term it may go down, but long term it most certainly will go up. And it will go up even more if Obama and the Democrats do not allow us to drill offshore, drill in ANWR and not to build more nuclear power plants. Remember that in November.  

Answer 2

Long term it probably will if (there is always an if with a question like this) there are not enough alternatives developed.  In the short term I believe it is going down because supply will exceed demand as prices have increased.

Answer 3

I think they're thinking of making battery powered cars. so. . . .  I guess so . . . good question!  

Answer 4

The supply and demand determines the price.

Answer 5

NO NO NO

Answer 6

It is getting scarcer, More demand, limited supply, makes price go up

Price going up causes conservation, and developement of other energy resources, like nuclear power, hydro electric power, solar power, geothermal or tidal.

So rising prices will cause oil to be bypassed in a lot of areas, when this happens, supply will exceed demand and price will moderate.

For now, Correction in Short term, then a rise for a limited amount of time.

Answer 7

No. We found the top for oil. $145 a barrel. Demand drops at that point.

However as far as gas prices go, I doubt it going down to where it was a couple of years ago. So $5 a gallon for gas is the high point but we are not going back to under $2 a gallon either.  

Answer 8

I see no reason for oil not carrying on rising to $200 a barrel and gas reaching $6 a gallon in the next12 months. Whatever the price people will pay it as they have no real alternative. And the US presidents seem to be too  chammy with the Saudis to do anything about it. The whole thing stinks.

Answer 9

well..yeah probably. actually the price for a barrel actually went down $16 so that was good. but yes,, it will probably continue to go up :l