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Oil Should Be Around $10 a Barrel: Analyst
CNBC ^
| Robin Knight
Posted on 09/02/2010 3:44:05 AM PDT by Rashputin
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I wonder if the 'analyst' has factored in the 'Obama Kisses Saudi Butt' factor. Obama asked the Saudis to keep oil prices high to help him pass his energy agenda. If you factor that in as well as what the author points out the price could fall even lower for a while and then level out in th mid-teens. It's a real shame for the eco fools, but there is no shortage of oil nor is 'peak oil' going to be a reality any time soon.
1
posted on
09/02/2010 3:44:08 AM PDT
by
Rashputin
To: Rashputin
2
posted on
09/02/2010 3:51:14 AM PDT
by
gusopol3
To: Rashputin
The price of a barrel of oil would be closer to $10 if the commodity wasn't traded as an investment instrumentHuh? I don't know of anyone that buys oil as a long-term investment. I think it's mostly bought as a hedge against price fluctuations.
3
posted on
09/02/2010 3:51:44 AM PDT
by
SonOfDarkSkies
(This year Christmas is coming in November!)
To: Rashputin
I have no doubt this is the case. The oil/gasoline market is the biggest rigged joke in history.
4
posted on
09/02/2010 3:53:33 AM PDT
by
Tolsti2
To: Rashputin
Another note to the author...an efficient market (i.e. active trading) is always better for consumers in the long run than a thinly traded, monopolistic or oligopolistic market.
5
posted on
09/02/2010 3:57:34 AM PDT
by
SonOfDarkSkies
(This year Christmas is coming in November!)
To: Rashputin
It’s called supply AND demand for a reason. No mention about how much base demand has risen over the same time period.
6
posted on
09/02/2010 4:08:08 AM PDT
by
garbanzo
(Government is not the solution to our problems. Government is the problem.)
To: Tolsti2
Yeah. Gold will return to $35.00, silver to $2.00, and hamburger will be 20 cents a pound.
When oil gets back to ten bucks a barrel, I'll expect to see a three bedroom house (new construction) for $30,000.00, and midsize cars in the $5-7,000 range (also new).
Oil is a commodity, and the dollar 'value' is more a reflection of the value of the currency than the commodity.
7
posted on
09/02/2010 4:09:34 AM PDT
by
Smokin' Joe
(How often God must weep at humans' folly. Stand fast. God knows what He is doing.)
To: Rashputin
factor in inflation and the devaluing of USD which oil is priced in, it be MORE than $15
8
posted on
09/02/2010 4:10:19 AM PDT
by
4rcane
To: Rashputin
Oil Should Be Around $10 a Barrel: Analyst Yeah, and analysts should be around 50 cents a dozen.
9
posted on
09/02/2010 4:16:55 AM PDT
by
Izzy Dunne
(Hello, I'm a TAGLINE virus. Please help me spread by copying me into YOUR tag line.)
To: Smokin' Joe
That stuff all cost that much in the late 90’s? Wow, learned something new.
10
posted on
09/02/2010 4:18:14 AM PDT
by
Tolsti2
To: Rashputin
Our oil policy, set at the highest levels, insures that Saudi Arabia has a lot of money to push Muslum expansion around the world. Let the US adopt nuclear power and drill for some domestic oil (and natural gas) and lets see what happens. Let convert some coal into hydrocarbon products to further reduce our dependence on foreign oil. This in one of the biggest scandals in the history.
To: SonOfDarkSkies
we haven’t had an efficient, free market for a long time now. Totally rigged to suck every penny out of the free middle class. Now we have a serfdom with Sorros, et al on top.
12
posted on
09/02/2010 4:19:46 AM PDT
by
vanilla swirl
(We are the Patrick Henry we have been waiting for!)
To: Citizen Tom Paine
Yep, everyone cheering rigged high prices should be forced to pray to mecca 5 times a day. They’re begging for it with this nonsense.
13
posted on
09/02/2010 4:21:35 AM PDT
by
Tolsti2
To: Tolsti2
I bought my house in '87: 31K. If you look back through the history of oil prices (maybe before you were born), Oil was well over $10 in 1980. You know, the Carter years? It hasn't become any more common since then, and the technologies required to get it are more expensive.
14
posted on
09/02/2010 4:30:25 AM PDT
by
Smokin' Joe
(How often God must weep at humans' folly. Stand fast. God knows what He is doing.)
To: Rashputin
The speculator crowd will be here soon arguing that speculator dollars are good for everyone.
To: Smokin' Joe
I didn’t say it would necessarily go to $10, but certainly close to what it was in the late 90’s which was $20-30’s.
16
posted on
09/02/2010 4:33:11 AM PDT
by
Tolsti2
To: Tolsti2
I have no doubt this is the case. The oil/gasoline market is the biggest rigged joke in history. You're right, everyone who comes near oil makes money. I'm not against profits but the Saudis and the U.S. government are the two pigs first at the trough.
17
posted on
09/02/2010 4:33:35 AM PDT
by
Graybeard58
(Nobody reads tag lines.)
To: Graybeard58
I wonder at some of the ones who are on here cheering for higher prices. Is it a vested financial motive or some twisted idealogy?
18
posted on
09/02/2010 4:35:29 AM PDT
by
Tolsti2
To: Rashputin
There is a greater surplus of oil and gasoline now than ever in our history. The consumer is being gouged so that the Wall St. traders can make money shifting paper amongst themselves.
To: Rashputin
LIES!!!! Back in the 70’s I was told we only had enough to last 10 years. Why would Jimmah make that up?? We must be pumping out the last of the wells by now. no? s/
20
posted on
09/02/2010 4:40:47 AM PDT
by
Bringbackthedraft
(Put Alan West on the fast track, to the White House! Kick a$$ in 2010 and 12)
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