When Will Oil Hit $100 Per Barrel (Poll)

[Subdude]

Once a full recovery occurs, I would expect the same prices if we are driving the same vehicles. If last summer's $4.00 gasoline and the current recession cause the fundamental behavioral shift that some are predicting, then I would not expect prices to rise that high either. But, I don't find $100 to be unachievable in and of itself...except in this market.

I suppose it depends on whether one thinks $150 oil reflected underlying economic reality or was just a bubble or fluke.

[TheNiche]

I suppose it depends on whether one thinks $150 oil reflected underlying economic reality or was just a bubble or fluke.

If you assume away the currency effect and assume that consumption rates had been sustainable and that China would still maintain double-digit GDP growth, then yeah $150/bbl. oil made sense.

It was a forecasted reality made just prior to the world realizing that China's economy is chained to consumption in the U.S. and also prior to realizing that the rest of the world's currencies were linked to economies more dependent on the U.S. than the U.S. was dependent on them.

It may be a while before we run up against a scenario like that one again, but I do think that $100/bbl. is achievable within two to probably more like three or possibly four years.

[Chamo]

At work our internal forecast is $35.

May I ask why you think so?

The Energy Information Administration considers that in the short & mid term, the condition of the global economy is expected to remain the most important factor driving world oil prices. I agree with them.

I expect global economy to recover in no less than a couple of years and demand to push prices high again, so it could probably hit $100 in one of those peaks of prices as we saw earlier this year.

[houstonmacbro]

Link is here: http://www.willyoujoinus.com/

ALSO,

Oil prices fall below $43

Investors are skeptical that a possible OPEC cut could raise prices, while a bailout for the U.S. auto industry nears.

Full article here: http://money.cnn.com/2008/12/09/markets/oi...sion=2008120915