COMMENTS:
I believe it will continue to rise and will go beyond $3 per gallon in the US. Probably above $4.
Factors that contribute to the increase:
* Oil company greed (I don't see that voluntarily changing and it won't change until Big Oil politicians are thrown out of office)
* Lack of oil refinery capacity. Big Oil has let this languish for decades, as they milked the Cash Cow and avoided investment. Now, it would take years before new construction could be brought online. And if alternate fuels are probable, they will avoid this investment, still.
* Geopolitical instability: As long as Big Oil politicians are in office, I predict this will continue.
* Surging consumption in US. At some point, oil will become too expensive for a growing number of people. This will stop the increase of consumption, but will not seriously decrease.
* Surging oil demand among developing nations. I don't see this mitigating.
So ... tell me what makes anyone believe the upward trend is not inevitable?
I'v just been doing a quick bit of calculating to work out how expensive petrol is in America compared with in the UK.
$2.55 per US gallon is the equivalent of 37.8 pence per litre.
At the moment I pay 93.9 pence.
Thats equivalent to $6.32 per US gallon!
I suggest you thank your environment destroying government for letting you have petrol at such ridiculous prices!
Don't buy ExxonMobil. If we can break them, they will come down and the other thieves will follow.
How high will the price of CANNABIS go?
As high as the market will bear,
and right now,
in my Community,
the good stuff is about U.S.$ 1,000 a pound,
for a leaf product whose true worth is closer to TEN CENTS A POUND!
Geez, I'm so glad that Crime Doesn't Pay!
ROGL!
Just think... about 6 years ago, oil was only about US $10 per barrel. Today, it is about US $72 per barrel, yet it is still the same product, and the funny thing is, there is now much more oil and fuel being produced than back then.
The concept of market forces created by "supply and demand" is nothing but a lie designed to fool us all into being robbed by greedy oil cartels and useless middle-men called futures traders.
Actually, find out the full story about how prices for oil-petroleum & fuel are set on FUTURES MARKETS, controlled by futures traders in collusion with all the big oil corporations.
Check out how it works on the NYMEX (New York Mercantile EXchange) and the London IPEX (International Petroleum Exchange)... The price of oil and fuel have NO CONNECTION to actual supply and demand forces, because there is just SO MUCH OIL & FUEL AVAILABLE... all this crap you hear on the news about fuel shortages and oil shortages are nothing but lies, designed to make you all believe there is a fuel shortage, so that you don't get angry at the fact that we are all being robbed by super wealthy oil corporations and paper traders (middle-men) buying and selling paper which fixes the future prices of these basic commodities.
Approximately 40% of the price of fuel and oil goes into the pockets of futures (paper) traders at these exchanges...
The mass media is deliberately hiding these facts from the public, because they too are owned or controlled by rich Jewish bankers-financiers and super wealthy oil corporations.
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