Reeflands Forum - View Single Post - Gas prices at ~$2.00 a gallon may be a good thing

**Ninong** · 03-25-2005, 11:54 PM

I think we will see $60 a barrel oil by early this summer. We may see $75 a barrel oil by sometime next summer.

China and India are driving demand. Russia's oil industry is in turmoil right now and you can forget about Iraq for the next ten years at least. Who would want to invest any money there given the lack of political stability?

The dollar is falling due to our balance of trade deficits and our obscene budget deficits. OPEC will allow prices to rise to make up for the falling dollar. In fact, OPEC has very little control of the price right now anyway.

What will we see first? $100 a barrel oil or $1000 an oz. gold? I think we will see both within the next five years.

03-25-2005, 11:54 PM	#11
Ninong Moderator Join Date: Jun 2000 Location: Louisiana Posts: 20,340	I think we will see $60 a barrel oil by early this summer. We may see $75 a barrel oil by sometime next summer. China and India are driving demand. Russia's oil industry is in turmoil right now and you can forget about Iraq for the next ten years at least. Who would want to invest any money there given the lack of political stability? The dollar is falling due to our balance of trade deficits and our obscene budget deficits. OPEC will allow prices to rise to make up for the falling dollar. In fact, OPEC has very little control of the price right now anyway. What will we see first? $100 a barrel oil or $1000 an oz. gold? I think we will see both within the next five years. __________________ Ninong