Oil $20 by Easter 2009

[TiaoLang]

azza33 - very wise words.

Regards.

Tiao

[geosight]

i have serious doubts that it will fall below 65 USD

[Stogie]

It's already down to 46 bucks...

[SamplerDoc]

Oil closed friday at 40.81 per b.
If oil continues to drop like a rock its really not a good sign at all.
It means the world economy is in the dump and that would be a bad thing.
Be sure the worst is yet to come.

[Tomcat]

I would say the first disaster will be China....The press is controlled but its  no secret that there are riots all over the place. The economy was geard for 6 million Uni grads to get nice jobs each year and this is history now....These Folks are angry..very angry

One of the old cronies in charge even admitted that he would like to see war declared on Japan...Ya, i know it seems like a joke but IMO there will be some nasty surprises next year..

Like the Military talk of "The known unknowns" and the "Unknown UnKnowns" ( dont ask..)

[azza33]

Like the Military talk of "The known unknowns" and the "Unknown UnKnowns" ( dont ask..)

That's a pollie Tomcat...

Rumsfeld was one funny fucker!!

[ciobha]

(TiaoLang @ Dec. 06 2008,11:03) Ciobha,

Current price of unleaded is approximately 89p a litre,

Let me know where you're getting that,because i'm still paying the better part of a quid.

[Lefty]

(Tomcat @ Dec. 06 2008,06:29) One of the old cronies in charge even admitted that he would like to see war declared on Japan...

Last time China and Japan were at war, we were on the side of China. They were/are piss poor fighters compared to the Japs and were a detriment to us in joint military operations. This time around we would be sided with Japan. Funny how a few decades of history changes alliances so much.

[TiaoLang]

Let me know where you're getting that,because i'm still paying the better part of a quid.

Anywhere in the civilised part of the UK, but more significantly the North West - currently 87.9p - it's great up north.

Regards.

Tiao

[molk]

You're all forgetting that the dollar may very well slump in the coming months and that will lead to an increase of the oil price as the price of oil is reverse to the strength of the dollar.

So, my prediction is about same price as today by easter, let's say 70USD  

[azza33]

already down to $36 according to bloomberg.... not far to go!

[terryw]

The futures market is forecasting $80 a barrel by next summer.

With the collapse of the £ this could mean UK residents paying £1.05 a gallon for petrol and £1.15 for derv.

[Torurot]

A useful site for energy issues
http://www.theoildrum.com/

'No way' did oil demand plunge
http://www.theoildrum.com/node/4885#comments_top

[jaymee]

With the USD index likely to hit 40-50 in 2009, $20 oil will feel like $100.

[Torurot]

jaymee can you explain put that in simple English?