Oil at new low for 2006!!!

Quote from S2007S:

im saying 70 before 50..
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51 would still count

we could see 56 before we see 64

we could see 53 before we see 67

we could see 58 before we see 89
 
I know no one on ET listens to CNBC, but if you did, you would have seen several interviews with major oil CEO's all saying that oil prices were not sustainable....they see it about $35-$40 bbl


But, hey, what do they know about oil prices....

SteveD
 
Quote from SteveD:

I know no one on ET listens to CNBC, but if you did, you would have seen several interviews with major oil CEO's all saying that oil prices were not sustainable....they see it about $35-$40 bbl


But, hey, what do they know about oil prices....

SteveD
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Steve---

Keep saving up for that hybrid automobile. And keep your subscription to Mother Earth News (for alternative energy ideas). After the elections, you'll thank me.
 
T Boone Pickens last night said that it was an 'Oklahoma Promise' that we would see $70 before $50 per barrel. Ah yes I'm sure that southern drawl of his will suck a lot of people in.
We will definately see $50 oil before $70 oil. I know what an 'Oklahoma Promise' is!
 
From yesterday on Bloomberg...

"Oct. 12 (Bloomberg) -- China imported 16 percent more crude oil in the first nine months of 2006 than a year earlier to meet rising energy demand in the world's fastest-growing major economy."

Quote from S2007S:

I thought just 3 months ago we were running out of supply due to the demand from U.S, China and India. All of the sudden there is no more demand.
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Quote from Magna:

you're right, all that demand from around the world that drove the price up didn't magically dissipate.
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Quote from Magna:

From yesterday on Bloomberg...

"Oct. 12 (Bloomberg) -- China imported 16 percent more crude oil in the first nine months of 2006 than a year earlier to meet rising energy demand in the world's fastest-growing major economy."
More...



nice find.

I just remember the back in the summer when crude was rising and everyone was looking for alternative methods due to the fact everyone thought it was going to $100 a barrel and gas $4-$5. Now it seems that since prices are dropping your not hearing much about hybrids, the oil sands in canada and other fuel alternatives. Seems like the only time people worry is when oil is rising.

I hear people talking about $20 oil on cnbc, makes me laugh because most were predicting 80-100 when it was trading at 70+. I do think oil makes its way back to 65-70 by late 2006 early 2007.
 
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