Will Oil Prices Reach $200?

[BIG WAVE]

Speculations have been many lately with regard to the rise of oil prices after they exceeded the limit of $100 per barrel due to a number of factors, which the decline of the value of the American dollar represents one of the most important factors, in addition to increasing tensions in the Middle East area.

The former Iraqi Minister of Oil Issam al Shalabi says that the possibility of the subjectivity of oil prices to factors related to a Turkish-Kurdish conflict at the border lines with Iraq is unlikely, but a possible conflict with Iran on the ground of its nuclear file will make oil prices exceed the limit of $200.

He further added that if Iran closed Hermoz route or if it responded to any strike by targeting some oil facilities in the Gulf, then this will lead to the shortage of oil at the markets by an average of 18-20 million barrels daily, and this will increase the prices of one barrel to $150-200.

Al-Shalabi refused the western reports which say that the decline of oil prices is a possibility due to the decrease of economic growth rate in a number of developed countries, pointing out that the Chinese and Indian markets will compensate for this difference.
http://www.voltairenet.org/article152784.html

[dinarhopefull]

Speculations have been many lately with regard to the rise of oil prices after they exceeded the limit of $100 per barrel due to a number of factors, which the decline of the value of the American dollar represents one of the most important factors, in addition to increasing tensions in the Middle East area.

The former Iraqi Minister of Oil Issam al Shalabi says that the possibility of the subjectivity of oil prices to factors related to a Turkish-Kurdish conflict at the border lines with Iraq is unlikely, but a possible conflict with Iran on the ground of its nuclear file will make oil prices exceed the limit of $200.

He further added that if Iran closed Hermoz route or if it responded to any strike by targeting some oil facilities in the Gulf, then this will lead to the shortage of oil at the markets by an average of 18-20 million barrels daily, and this will increase the prices of one barrel to $150-200.

Al-Shalabi refused the western reports which say that the decline of oil prices is a possibility due to the decrease of economic growth rate in a number of developed countries, pointing out that the Chinese and Indian markets will compensate for this difference.
http://www.voltairenet.org/article152784.html

No way thats gonna happen it would cripple the american economy. Business in alot of sectors would be out of business. Air,Auto,Industrial, to name a few... 100 bucks now is pushing the envelope.

[bikey]

No way thats gonna happen it would cripple the american economy. Business in alot of sectors would be out of business. Air,Auto,Industrial, to name a few... 100 bucks now is pushing the envelope.

i agree with that but i do think they are pushing the price per barrel as high as they think they can get away with. i am hopeful iraq gets on its feet "soon" and opens the lines because i dont believe at all that the world is running out of oil.and if the leaders of the nations that rely on it the most trully beileved we were running out of it ,all those alternative energy sources wouldve been allowed years ago for them to capitalize on.im not real big on conspiracy theories(well i guess it depends on what it pertains to) but i tend to think the oil crisis is the biggest conspiracy of all time.there i said it so go ahead and jump on me!:rofl: just remember i am highly medicated 2night due to pain! :sadsmile:







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[coconut]

One word - "absolutley" by 2009 - year end.

They need to make their money now before it becomes obsolete - a new power source is about to arrive - one so inexpensive and easy to obtain - it will blow your mind.

Sorry no link - but it's on the way.

[baz]

Why not?.....when it was $50 a barrel.....did you believe it would double?.

[Don Juan Dinar]

Coconut,
Would love to hear about the new power source that is inexpensive and cheap

Thanks

[Rohan's Rider]

If it does hit $200 it will cripple us in UK, we are already being hammered to hell but then our government has a huge hidden agenda and the tax on our fuel is unaffordable. 85% of the price is tax - no wonder we are all reeling with the cost of living in the UK.

[geowhiz]

Look out for 100 bbl oil TODAY folks! :party:

[richsoon]

Look out for 100 bbl oil TODAY folks! :party:

Sounds like a party to me!:beer:

[thegujju]

If it does hit $200 it will cripple us in UK, we are already being hammered to hell but then our government has a huge hidden agenda and the tax on our fuel is unaffordable. 85% of the price is tax - no wonder we are all reeling with the cost of living in the UK.

Its actually a myth we pay 85% tax on fuel here.

At the moment the average price of unleaded is £1/litre and tax on that is around 70p so we are paying 70p tax on a 30p product (Thats over 230% Tax)

[geowhiz]

Its actually a myth we pay 85% tax on fuel here.

At the moment the average price of unleaded is £1/litre and tax on that is around 70p so we are paying 70p tax on a 30p product (Thats over 230% Tax)


Between the the rain, the taxes and the lack of "real" football, why hasn't everybody moved away from GB by now. :rofl:

[thegujju]

With the dollar nose diving like it is it wont really matter to the rest of the world even if oil reaches $200.

Today the dollar was $2.10 to the £ (I remember it being around $1.50 just 24 months ago.)

You know things are bad when bimbos start refusing to be paid in the dollar -

The world's richest model has reportedly reacted in her own way to the sliding value of the US dollar - by refusing to be paid in the currency.

Gisele Bündchen is said to be keen to avoid the US currency because of uncertainty over its strength.

The Brazilian, thought to have earned about $30m in the year to June, prefers to be paid in euros, her sister and manager told the Bloomberg news agency.

http://news.bbc.co.uk/1/hi/business/7078612.stm

[geowhiz]

You know things are bad when bimbos start refusing to be paid in the dollar -


Apparently so is Jay-Z. Before long American rap videos will have the homies opening bottles of Cristal and showering the stippers with Euros instead of Dollars.

[thegujju]

Apparently so is Jay-Z. Before long American rap videos will have the homies opening bottles of Cristal and showering the stippers with Euros instead of Dollars.

:lmao::lmao:


On a serious note, is the falling dollar a deliberate policy by the GOP to counteract countries like China or just simply signs of economic gloom and things to come?

[uplink]

No way thats gonna happen it would cripple the american economy. Business in alot of sectors would be out of business. Air,Auto,Industrial, to name a few... 100 bucks now is pushing the envelope.

I posted this in another thread that the rock posted on Oil prices, but I think it applies here too.
http://www.investorsiraq.com/showthread.php?p=498616
"I had recently watched an interview with (unsure of exact title of guy) oil minister or sultant of Qatar - this was a little over 2 months ago. In the televised interview he stated that most Arab countries feel that the fair price of oil was $125 a barrel. That was 2+ months ago and we are sure on track for that. In his statements he had mentioned the only reason it was not up there already, was to allow the american ecconomy to adjust to the increase. So, yes - I believe $125 will be here very shortly and those futures are dead on. It's a target the Arab nations wants and will see."

[Dinar_OS]

TerryTate pointed this out in this thread.

http://www.investorsiraq.com/showthread.php?t=58273

This market is perception driven and not by true cost. Driven by energy consumers and speculators.

[geowhiz]

:lmao::lmao:


On a serious note, is the falling dollar a deliberate policy by the GOP to counteract countries like China or just simply signs of economic gloom and things to come?


The reason for a falling dollar is to create a further and very deliberate split in the "haves" versus the "have-nots" in America. Many people that used to think it was inconceivable to ever have to take the bus to work will have to do just that shortly. Plus, that awesome new 3500 square foot house isnt going to be as cheap to heat or cool before long. Some will be able to deal with the lack of spending power, some wont. Either welfare picks up the slack or our country will soon see breadlines. At the same time the rich will simply move their money elsewhere into other currencies and prosper like never before. I plan to be one of them. :drink: