Will the oil price jump get worse?

Question

1. Do you think the oil price will become so high, that something serious (like global recession, more instability of global living, etc.) will happen?

2. How long will the oil pain continue?

3. Will it calm down in the future?

Answer 1

It's eventually supposed to be 4 and rising. Eventually something will break wether it be government intervention or the world trade market. We've become too dependent on oil and now we're in trouble. There seems to be no stop and now we can only rely on science to find a solution.

Answer 2

Juliecan, the oil prices will steadly move up the dollar ladder ,

some say as high as 8 to 10 dollars a gallon.  This crisis has

been coming on since the middle 1970's, it has been brewing ever since!!! The government asked private oil companies to find new oil and develop the sources, those companies said no because it was too expensive!!! Now the American people have their backs against the wall!! And, we

don't know what to do about it!! I think it will only calm down

in the future if more oil is developed within our own borders and Canada.  You can be sure it will be expensive to develop but I don't see any other solution!!! We must be frugal in our mileage around the country, plan our trips well and only run

the vehicle when absolutely necessary!!!

Answer 3

oil will get so much worse that we will be looking at the resurgence of the horse and buggy era

Answer 4

Yes. Forever and no. Everybody says there will be new technologies but I just dont see it. Thats a big assumption that may or may not come true. To assume it will come true may be a bad thing. We will all eventually be amish like especially the coming generations.

Answer 5

1. Possibly. But prices have gone up quite a bit with minimal impact on our economy. Today, we use less of a percentage of income on energy than we once did despite the increase.

2. All things are cyclical. Prices go up and they go down. In the past oil prices ran up to near $50 a barrel but went down to $10. Worldwide demand is up and growing (especially in India and China) and oil supplies are drying up so this most recent rise may last a while. But eventually prices will come down as demand eventually slackens and other forms of energy become more economically feasible.

3. Yes, eventually. Nothing goes up in price forever.

Answer 6

i personally don't believe any of this BS

all due speculation, speculation, speculation.

it's not even because we don't have enough oil, we have plenty of oil.  it's all political consipiracy.

i think it will come right back down before july 4, yes i am going opposite against morgan stanley's prediction.

Answer 7

The market turbulence will subside, but the long-term trend is upward.

Answer 8

Wow ! It took like no time to get where we are now !

What makes people think that this sort of problem is going to go away in a fleeting moment ?

A big part of the problem in America anyway is that the Politicians -BOTH DEM. & REPUBL.- made bad choices by making oil the basis of financial strength for our country and getting rid of the gold standard back in the 70's- stupid schumcks !

Answer 9

Yes it will get worse, and the econemy will get worse, Fuel drives the entire world. With China comming on line with 6 billion people needing fuel and India's huge population coming on line for the need of fuel it's going to get worse. We still don't have the technology to be free from oil but in 5 to 10 years it will be better. Most people don't realize that everything made requires fuel to make it. Curde oil is used in making everything from computers to everyday grooming needs. We need to drill and refine for another 10 years until we get nano technolgy on line, it will allow us to build super batteries and other machines that will take us away from fuel dependance. It will also stop robbing the poor countries of the food they need that we are putting in our tanks. Yep it's gonna get worse and if congress and house don't figure this out we are going to be in trouble. The tin horn dictators of the world who nationalize fuel would like nothing better to do than destroy the United States.

Answer 10

Yes. Because one thing for sure one day, the Earth will run out of oil as it takes millions of years for it to be formed.

Answer 11

1. Something global will be unlikely to happen. You have China and India with very strong economies that they might be able to support the world with their exports when that recession ever occurs.

2.  At least through the next decade.

3. After the food prices stop surging. However, we can't tell whether that "calming down" will be gradual or violent.

Answer 12

there is no end in sight. i suppose that at some point it may level off.

Answer 13

Yes, who can tell, maybe.

Answer 14

I'm not sure if you are aware that our fearless vice-president Mr. Chainey is the major stock holder of Exxon Oil company, Mr. Bush father is the major stock holder for  Shell Oil Company, so far none of the oil companies are not paying taxes for their earnings (since Mr. Bush, our President took the White House) and since we have a few more months of  Mr. Bush as our Presidents do you think the oil companies are going to let this free money get out their hands, I'm sure the prices will be higher and higher as we get closed to the end of Mr. Bush' Presidency