$220 barrel oil? Perhaps more?

I was finishing up a review of the market positions just now and came across this rather interesting report.

While I personally, don't believe it should amount to this, the ever present speculators certainly make anything possible.

Enjoy, http://www.telegraph.co.uk/finance/fina ... omura.html, and then fondly look at your coal bin.

Stephen

Our gas just jumped .06 from yesterday to $3.41/ gallon here.!! already starting.

Well.... I think we can kiss any chance of a economic recovery goodbye

heartofcoal wrote:Well.... I think we can kiss any chance of a economic recovery goodbye

THE RECOVERY IS LONG GONE IF THIS HAPPENS,

What recovery??

Well if it goes to $220 it won't be long before it's $40 again.

Why Fred... The recovery in China of course

I believe that this is going to make the depression look like a day in the park. For all you folks who were burning coal and on the forum that last time oil was $100 a barrel and a lot of newbies became interested in heating with coal - what did the economy look like then? The time when getting a new stove entailed a long waiting period of 18 months or longer and used stoves weren't to be found. How much was heating oil or gas per gallon then? I'm just curious how this economy compared with that one. What are your thoughts? Lisa

Oil hit $100.00 a barrel today. So here we go again. Only difference is... It wont be coming back down for some time.
We're headed for the worst economic and social collapse this country's ever seen.
The L.A. riots will be nothing compared to what we'll see happening all across the country.

$220 per barrel is probably close to the break even point when we can start profitably making gasoline and diesel fuel from coal on a large scale! But that brings its own problems along with it. You've all heard where there is enough coal to last anywhere between 200 and 500 years "at current rates of consumption", right! Well the operative words there are in quotes. Once coal is required to make liquid fuels the rates of consumption will climb astronomically, and the 200-500 year supply will turn into a 25-50 year or so supply in a hurry.

Where is the US with natural gas supplies?

A similar situation exists for natural gas. Once it is used on a massive scale to make gasoline and diesel fuels it will similarly begin to run out within about a generation or two.

And you've all heard that hydrogen will save us right! Mega-bucks are going into fuel cell research right now. The only problem for hydrogen is that there isn't any in its natural state on earth. It mainly comes from separating hydrogen from oxygen in water. The only "problem" with that is it takes more energy to separate them than you can get back from the liberated hydrogen and oxygen.

Got gas this afternoon regular was $3.09 a gallon. Drove past the same gas station on the way home a mere 2 hours later and it was $3.21. Jumped $0.12.

It's been hovering between about $3.35 and $3.40 around here since first the unrest in Egypt, and now the unrest in Libya.

I remember the last time gas was going up like this.
Exxon Mobile had record quarterly profits and had the nerve to say that americans should be happy about this because it
Would allow them to expand they're oil exploration. Yea......... glad we could help