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  • sideshow32raheem sideshow32raheem Aug 15, 2008 10:29 AM Flag

    How High will Crude Oil go by the end of this year strong buy on commodities.

    Crude will hit $55 within the next 12 months and you can set your watch by that.

    Just like 1981, much of the demand destruction we've seen over the past 3 years will be permanent.

    There's a reason oil went from $40 in 1981 back to $10 in 1991. It happened then, it will happen now. History sorts everything out when speculation has left the building.

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    • I have made a few hundred bucks betting that oil will go lower since it was at $135 and climbing. Can't aford to bet more since I have a full time job and do not intend to watch the market like a hawk. However with that said, oil will be lower by the end of 08 that ii is now (maybe 90-100) and will continue to trend lower by the end of 09. The worst thing that could have happened to crude is the price rose to 147+ in a very short time. The sudden impace to the wallet has left many people. That is why GM is trying to sell the Hummer division. The majority of cars that will be soil in the coming years will be small, more fuel efficient cars. The price of gas and the relentless climb to 4+ dollars will not be forgotten. Demand for oil, at best in the US will rise slightly over the next few years, however I think the congress will do the right thing and allow more off shore drilling; therefore bringing more supply to market in a few years. As more supply comes online, the price will come down. Also, all the auto makers have made a push into developing alternatives to gas or gas hybrids which will further lower demand. In a decade from now, the US will use less oil that it does today.

    • I agree.. the longer gas stays above $2.00 a gallon the more opportunity for alternative energy vehicles to hit the road. I know I and several of my freinds would buy one today if we had the option. The world oil play will come to an end in the next ten years. Not that there will be no demand for oil, that's silly, just the comsumption of oil will decline worldwide.

 
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