Oil Prices at $200 a Barrel? Some Think It's Coming

Steadfast · Post by **Steadfast** » March 22nd, 2012, 6:32 am

Oil Prices at $200 a Barrel? Some Think It's Coming

Published: Wednesday, 21 Mar 2012 | 12:38 PM ET
By: Kate Kelly
CNBC Reporter

Signs that crude futures may hit much higher levels are converging, say oil traders and analysts, some of whom predict that Brent [LCOCV1 123.25 -0.95 (-0.76%) ] crude could reach $200 a barrel within the next 12 months.

The biggest issue, they say, is that global crude supply remains uncommonly tight — a scenario that’s unlikely to be alleviated any time soon.

Even though Libya’s oil has largely returned online after the political disruptions that took it off the market last year, and Saudi Arabia is generating its highest output in three decades, the available crude is just barely meeting demand. The summer driving season in the U.S., which begins in April, could put further pressure on prices.

Full story

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Be interesting to see if a few little countries can dispose a standing US president because of rising oil prices.

colt1rgr · Post by **colt1rgr** » March 22nd, 2012, 7:26 am

Of course it is................. and we are sitting on enough oil to last us and our grandchildren's lifetimes, yet for some reason................. we as a nation are investing in "Green Energy" whether we like it or not.

rgrokelley · Post by **rgrokelley** » March 25th, 2012, 7:32 pm

Obviously this is evil right wing propaganda. I myself saw President Obama in front of a pipeline that he himself built with his own hands telling us, his loyal subjects, that oil will flow from the ground when he smites his staff upon it.

All will be well.

Rejoice.

These are not the droids you are looking for.
You can go about your business.

Flesh Thorn · Post by **Flesh Thorn** » March 25th, 2012, 10:05 pm

Hmmmm.....one of the key sources is Goldman Sachs. Imagine that .........

IEDmagnet · Post by **IEDmagnet** » March 26th, 2012, 1:03 am

rgrokelley wrote:Obviously this is evil right wing propaganda. I myself saw President Obama in front of a pipeline that he himself built with his own hands telling us, his loyal subjects, that oil will flow from the ground when he smites his staff upon it.

All will be well.

Rejoice.

These are not the droids you are looking for.
You can go about your business.

Perfect score for landing a biblical and Star Wars reference in the same reply.

colt1rgr · Post by **colt1rgr** » March 26th, 2012, 1:13 am

IEDmagnet wrote:
rgrokelley wrote:Obviously this is evil right wing propaganda. I myself saw President Obama in front of a pipeline that he himself built with his own hands telling us, his loyal subjects, that oil will flow from the ground when he smites his staff upon it.

All will be well.

Rejoice.

These are not the droids you are looking for.
You can go about your business.
Perfect score for landing a biblical and Star Wars reference in the same reply.

My thoughts exactly! "Behold Obama's Mighty Hand"

rgrokelley · Post by **rgrokelley** » March 26th, 2012, 10:18 pm

colt1rgr wrote:
IEDmagnet wrote:
rgrokelley wrote:Obviously this is evil right wing propaganda. I myself saw President Obama in front of a pipeline that he himself built with his own hands telling us, his loyal subjects, that oil will flow from the ground when he smites his staff upon it.

All will be well.

Rejoice.

These are not the droids you are looking for.
You can go about your business.
Perfect score for landing a biblical and Star Wars reference in the same reply.
My thoughts exactly! "Behold Obama's Mighty Hand"

Now you are going to far. I should slap the sarcasm off of your lips for blaspheming Charlton Heston!

Flesh Thorn · Post by **Flesh Thorn** » March 26th, 2012, 10:41 pm

I predict that the price will drop before November.

:?

RangerX · Post by **RangerX** » March 26th, 2012, 10:45 pm

Flesh Thorn wrote:I predict that the price will drop before November. :?

What petro-financial wizardry is this?

Flesh Thorn · Post by **Flesh Thorn** » March 26th, 2012, 10:51 pm

RangerX wrote:
What petro-financial wizardry is this?

Old guy at the barber shop told me. :D

RangerX · Post by **RangerX** » March 26th, 2012, 11:06 pm

Flesh Thorn wrote:
RangerX wrote:
What petro-financial wizardry is this?
Old guy at the barber shop told me. :D

Oh, and I suppose he can magically make your hair shorter too?!?

rgrokelley · Post by **rgrokelley** » March 27th, 2012, 4:18 am

Flesh Thorn wrote:I predict that the price will drop before November. :?

Obama will most likely pull the whole "releasing the strategic oil reserves" stunt, which will lower prices for a short period of time, if at all... however I think most voters (not average Americans, but those who actually vote) will see this for what it is.

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