I would like to see some educated guesses as to what people think the peak price of Oil will be?
First off there remains a debate concerning 'peek oil'. Just this week Norway's state owned oil company discovered another large find in the North Sea.
Looking at the long term and being cognizant of explosive oil supply related potentials, I would not rule out crude oil trending soaring to over $150 a barrel during a temporary energy market trader all out panic - only if the Saudi fields were ablaze for instance, or if out of control geostrategic events curbed Iranian crude from being transported out of the Persian Gulf.
Communist China, India & our own elevated domestic demand, coupled with the lack of global refining capabilities to meet demand must also be resolved, or the present energy situation will worsen, and prices shall climb higher & higher, until their is a major pullback in energy orders at a national level.
In today's unstable world nothing should be ruled out - nada, nada!
Oil & Gas: Troll contains more oil