80+ oil is a lock this week.

[Zathras]

Still looking for a nice drop in oil to the $60 sometime in the fall or at the latest by the end of Feb 2007.  I fully expect to fill up the beast with sub two dollar petro before St Jpatricks Day 2007.
With all that said, I still call that expensive oil and don't look for anything below 50 for years if ever unless you  are talking about the temperature in International Falls.

I wouldn't expect sub 2$ gasoline anytime soon. The oil sands in Canada are expensive to refine. Sub 2$ gasoline won't support it. Without it we are looking like we are at or close to peak oil.

The only case I can see for sub $60/barrel oil is if the electric cars coming out in 2008 take off really fast. In that case you could even see $50/barrel if demand dropped enough (no sooner than 2012-2015 at the very soonest).

 

[d]

$80 lock didn't work out this week

this is a good illustration of just how unpredictable markets are!  last sunday (when the "lock" was "announced") there was every reason to expect considerable increases in price (middle-east, weather, etc in addition to the pipeline problem) ... but here we are!

 

[dumpster56]

Hey I am an almost early retired GYM TEACHER! What do I know?

Nothing!?