John Kilduff: Oil To $100 In The Next Six Months

The Business Insider ^ | 1-12-2010 | Graham Winfrey

[blam]

John Kilduff: Oil To $100 In The Next Six Months

Graham Winfrey
Jan. 12, 2010, 1:45 PM

Last week, we reported that former CIBC World Markets Inc. chief economist, Jeff Rubin had predicted the price of oil to reach $100 by the end of 2010.

On Monday, CNBC contributor John Kilduff sliced Rubin's prediction in half, claiming that oil will hit $100 a barrel in the next six months, thanks in part to a humming Chinese economy, Business And Media reports.

When Kudlow asked whether the U.S. should look to windmills in the Nantucket sound to provide a new power source, Kilduff stated he opposes the idea, and mentioned a huge oil discovery in the Gulf of Mexico Tuesday morning.

[snip]

[Dansong]

Add the inflation factor and Obama’s refusal to drill anew and $100 oil will soon be considered low...

[maine-iac7]

Of course it's going up. No surprise.

They do this every time they have an election they must win. Up goes oil and it's all ‘those big oil pubbies fault!’

and people fall for it every time.

[NavyCanDo]

Its our President and all of his rich Texas oil buddies. (sarc) No, wait a minute that was the excuse the left used with the last President. Hmmmmmm how can we pin this on Bush?

[Thebaddog]

Is China’s economy really humming? Who’s buying their products if we are in recession still?

[schu]

If we see >$100 oil for an extended period (over 6 months), then U6 unemployment is sure to exceed 20% and a 1930s type depression is a forgone conclusion. Life as we know it is about to change big time.

Since oil is priced in $$, we have no one to blame but our central bankers, Congress and the President for inflating these $$.

And our leaders sit there debating the helthcare bill with 35% approval and a $2T price tag. The country is on a suicide mission .... :-(

schu

[upsdriver]

Great news!!

[I Buried My Guns]

"...Life as we know it is about to change big time..."

It has been theorized that when gas gets to $11 a gallon, our entire world economy will grind to a halt because it will no longer be economically feasible to bring goods to market. The entire mechanism will simply cease to operate.

I think the true number is closer to $7 to $9 a gallon, but hey, I'm an optimist.

Those of us who are within walking distance of a ghetto will feel the sharp pangs of "social justice" first, but ultimately we will all suffer from the massive crime wave/killing spree that is sure to follow.

[Shermy]

“thanks in part to a humming Chinese economy,”

Old School econ. Price swings are now determined by commodity indexes and hedge fund investing patterns. They are starting to park their money in commodities again.

[MrB]

1) Get away from population centers
2) Carefully examine the demographics of where you’re getting away to.
3) Of course, arm up and bloat.

[east1234]

” The country is on a suicide mission .... :-(”

That’s their plan. I guess they think they will survive the aftermath, I don’t think it will go well for them.

[JPG]

We are sitting on zillions of barrels of oil and tons of natural gas and coal deposits that will last for centuries and the Kenyan Bozo is all orgasmic over windmills. Beware, Bambi, the wrath of the people is coming your way soon.

[I Buried My Guns]

I have nowhere to go. I live inside the loop in the 4th biggest city in America. The ghetto, while not a "stone's throw" from my front door, is still very close by. My plan as it stands right now is similar to my hurricane plan A:

A) Send the females to grandma's in Bloomington (a tiny town south of Victoria, teeming with illegals) because grandma has many, many guns and several responsible male family members close by;
B) Barricade neighborhood to create choke points that limit ingress/egress; set up both static defenses and roving patrols outside the wire.
C) Take in all comely females from nearby Rice U; create breeding program so as to repopulate the earth with my seed.

No wait, that last one is from my NUCLEAR WAR plan A. Never mind; ignore that last one.

[schu]

I do believe Bernanke, Congress and Bam are playing with fire. These enormous expansions of the money supply, are unprecedented for a country our size. As I read the other day, the only reason we have not experienced hyper-inflation (1920s Germany like) is because the $$ is the reserve currency.

We are headed toward a major contraction in econmic activity where the staple of our economy, oil, is priced above what the market can withstand.

And all so Bernanke/Krugman, Keynesians both of them, can try out their pet economic theories ......

schu

[wheninthecourse]

Im on the fence between Canada ....or Aliyah. I think Aliyah.

[MrB]

Yeah, but what’s your “zombie plan”?

[VeniVidiVici]

The price of a gallon of gas is up almost 100% since Barack Hussein took power.

Let’s see the State Run Media report that.

[Buckeye McFrog]

I’m thinking more like $50 when the weather warms up and the Obama Double-Dip kicks in...

[Zeppo]

Is China’s economy really humming?

They probably don't know the words...

[blam]

I lived in Bellaire for years.

You'd probably do best to move north into the German held territory. Fredericksburg comes to mind.