OPEC president sees $200 oil possible

Pred · 04-28-2008, 08:03 AM

Quote:

ALGIERS (Reuters) - OPEC President Chakib Khelil does not rule out oil prices reaching $200 a barrel, even though supply is adequate, because the market is driven by the dollar's slide, Algerian government newspaper El Moudjahid reported on Monday.

"Questioned about a possible rise which would go to $200, the minister did not rule out this eventuality, explaining that this rise is from now on indexed to the fall in the dollar or to the rise in the dollar," El Moudhajid reported.

OPEC president sees $200 oil possible: report: Financial News - Yahoo! Finance

I'm telling ya, this summer is not going to be pretty.

TXplt · 04-28-2008, 08:13 AM

Told ya so

Ref. previous post.

Time to build power plants ?

Seabeescotty · 04-28-2008, 08:16 AM

Funny, on the news this morning, the speculators were blamed for the rise in prices. they supposedly are driving prices up, and ripping us off, and could care less how much they hurt the country. On the news this very morning.

Pred · 04-28-2008, 08:18 AM

The men in power are getting richer, the poor are getting poorer. It will continue that way until they no longer make massive profits because everyone is broke. It's the natural cycle of things. Been almost 80 years in the making.

Rave · 04-28-2008, 08:23 AM

Quote:

Originally Posted by Pred

The men in power are getting richer, the poor are getting poorer. It will continue that way until they no longer make massive profits because everyone is broke. It's the natural cycle of things. Been almost 80 years in the making.

Got any money left? Send it in!

TXplt · 04-28-2008, 08:30 AM

Quote:

Originally Posted by Seabeescotty

Funny, on the news this morning, the speculators were blamed for the rise in prices. they supposedly are driving prices up, and ripping us off, and could care less how much they hurt the country. On the news this very morning.

This IS a problem we can fix. There are foreign investors (like Saudi Arabia) who buy oil futures to buy the price up (buying these with the cash they're making with their own oil--a vicious circle with us in the middle). We can stop this from happening.

Mad Hatter · 04-28-2008, 04:10 PM

Should get very interesting by fall... The effects of these oil prices will take a few months to really hit home, or at least until Wall St. notices people no longer have the cash to buy other stuff.. ;(

thomasbrooks07 · 04-28-2008, 04:20 PM

The gas prices are making everything else go up since it costs more to ship and what not. I dont really care about filling up my cars tank much. I mainly get around on pedal power on my mountian bike. I only drive my lil town car around when im going more then 10 miles or im heading out to my gun range out side of town.

Windwalker · 04-28-2008, 06:31 PM

Filled up the pickup Saturday even though I had 1/4 tank. It took $67.00 for 3/4 tank.

04-28-2008, 08:13 AM	#2
TXplt Lost in the Ozone Again Join Date: Jan 2008 Location: Fort Worth, TX Posts: 2,838 Images: 4 Blog Entries: 2	Told ya so Ref. previous post. Time to build power plants ? __________________ Old fighter pilots never die.....They just wind up in Texas

04-28-2008, 08:16 AM	#3
Seabeescotty Senior Member Join Date: Dec 2007 Location: Jay, Oklahoma, God's country. Posts: 4,053 Images: 18 Blog Entries: 1	Funny, on the news this morning, the speculators were blamed for the rise in prices. they supposedly are driving prices up, and ripping us off, and could care less how much they hurt the country. On the news this very morning. __________________ Adapt, improvise, overcome.-Gysgt Highway, Heartbreak Ridge

04-28-2008, 06:31 PM	#9
Windwalker Senior Member Join Date: Oct 2007 Location: Oklahoma Posts: 3,596	Filled up the pickup Saturday even though I had 1/4 tank. It took $67.00 for 3/4 tank. __________________ America: Love it and protect it or leave it

04-28-2008, 08:18 AM	#4
Pred Banned Join Date: Aug 2005 Location: Kentucky Posts: 3,873 Blog Entries: 3	The men in power are getting richer, the poor are getting poorer. It will continue that way until they no longer make massive profits because everyone is broke. It's the natural cycle of things. Been almost 80 years in the making.

04-28-2008, 04:10 PM	#7
Mad Hatter Senior Member Join Date: Oct 2007 Location: Connecticut Posts: 622	Should get very interesting by fall... The effects of these oil prices will take a few months to really hit home, or at least until Wall St. notices people no longer have the cash to buy other stuff.. ;(

04-28-2008, 04:20 PM	#8
thomasbrooks07 Senior Member Join Date: Dec 2007 Location: Washington Posts: 185	The gas prices are making everything else go up since it costs more to ship and what not. I dont really care about filling up my cars tank much. I mainly get around on pedal power on my mountian bike. I only drive my lil town car around when im going more then 10 miles or im heading out to my gun range out side of town.