oil $100 A Barrel

Kizzume · Posted: Sat Oct 20, 2007 9:59 pm Post subject:

January 17.
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CHUQ · Posted: Mon Oct 22, 2007 3:13 am Post subject:

Cool! You gotta pool going> More people! More people!
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Kizzume · Posted: Tue Nov 06, 2007 11:34 pm Post subject:

I'm going to have to retract my last guess, since it's already at $97 a barrel...... I lost. Oh well... Smile

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CHUQ · Posted: Wed Nov 07, 2007 3:08 am Post subject:

Oh hell, Kizz we are all friends here pick another. But do not throw in the towel yet, the Saudis could flood the market and bring the price down for awhile.
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CHUQ · Posted: Wed Nov 07, 2007 4:04 am Post subject:

Just off my ME ticker.

Nov. 7 (Bloomberg) -- Crude oil rose above $98 a barrel for the first time in New York as the dollar tumbled to a record low against the euro and producers evacuated platforms in the North Sea, evading a storm forecast to bring waves as high as 36 feet.

BP Plc and ConocoPhillips evacuated oilrig workers yesterday, adding to supply concerns before a U.S. Energy Department report that may show inventories fell for a third week. The dollar slumped, pushing up prices of commodities denominated in the currency, on expectations the U.S. Federal Reserve may cut interest rates.

LINK
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Segep · Maintenance Man Joined: 02 Jul 2007 Posts: 775 votes: 4

Looks like Tumble may win the pool. Let's hope it's not actually terrorist attacks that cause the price to break $100 or his prize might be a visit from the Feds. Unsure

Tumbleweed · Black Ops Joined: 02 Jul 2007 Posts: 3687 votes: 3

They can't find me, I'm covert. scratch

The only reason I picked that date is because I have stayed at a Holiday Inn Express. They don't know which one.

I based my scientific calculation on the probability in proximity to the law of averages. For those of you not familiar with these very complex formulas, it is (E+P)x T= C
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CHUQ · Posted: Thu Nov 08, 2007 3:46 am Post subject:

Be sure to keep your GPS off.
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Tumbleweed · Black Ops Joined: 02 Jul 2007 Posts: 3687 votes: 3

Yea, I already thought of that CHUQ. I even unplugged my microwave, and my electric toothbrush. Laughing

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CHUQ · Posted: Tue Nov 13, 2007 3:52 am Post subject:

Update it is holding at $95

SYDNEY (Reuters) - Oil held steady at below $95 a barrel on Tuesday, recouping early losses as the Saudi oil minister nixed hope for an OPEC output increase this week, shifting focus back to the group's meeting in early December.

A slightly weaker U.S. dollar after the currency's surge a day ago also lent support to prices, which traders said could be unusually volatile as key options contracts expire.

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Tumbleweed · Black Ops Joined: 02 Jul 2007 Posts: 3687 votes: 3

I doubt that the price of oil will drop and the longer it hovers around the $90 area the more it's bound to cause inflation despite the rosy numbers out out by the government. The prices for the stuff we are buying is sure going up fast.
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Kizzume · Posted: Wed Nov 14, 2007 12:50 am Post subject:

I still can't believe milk prices.

I wonder how much the prices of everything will go up before oil hits that $100 mark....

But seriously, you're right.
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CHUQ · Posted: Wed Nov 14, 2007 3:01 am Post subject:

Tumble, if you are talking about govt figures on inflation, then no, for gas and food are not part of their equation. But if we are talking about real people, inflation has been here for awhile.
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Tumbleweed · Black Ops Joined: 02 Jul 2007 Posts: 3687 votes: 3

Well, they can call it what they like, but to me when the cost of goods and services goes up, it's inflation. It not all on a national level either. Utility rates, taxes, and goods and services flucuate more on a regional level than national level. The inflation rate might be low in Washington, but out here in rural America it's a different story.
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CHUQ · Posted: Thu Nov 15, 2007 3:47 am Post subject:

I totally agree with you, that is why I am a critic of the economic reporting. It is geared to influence investment not to give an accurate outlook of the country.
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