bratticus wrote:Will the price of oil hit $200 or will there be a huge wave of defaults? In 2008 the price only got to $147 before businesses using that oil threw the towel in and the resulting demand destruction cause a price collapse followed by a stock market collapse. Why should 2011 be any different?
Xenophobe wrote:Volts and Leafs for everyone!
AdTheNad wrote:bratticus wrote:Will the price of oil hit $200 or will there be a huge wave of defaults? In 2008 the price only got to $147 before businesses using that oil threw the towel in and the resulting demand destruction cause a price collapse followed by a stock market collapse. Why should 2011 be any different?
I've wondered about this too. With the growing use of oil in Chindia you would think the price wouldn't collapse as far as in 2008, but then the rising prices will probably have some effect over there as well.
China’s trade surplus cut in half as [the price of] imports surge
MarketWatch / Feb 14, 2011
China’s trade surplus was $6.5 billion for the month, compared to $13.1 billion in December, the reports said.
‘Peak Demand,’ Yes, But Not the Nice Kind
By Chris Nelder / Friday, March 5th, 2010
Very simply, when oil got to $120 a barrel it cut into real productivity, and forced the world’s most developed economies to shrink. At $147, it wreaked serious damage. ... the new normal will be cycles of bumping our heads against the supply ceiling, falling dazed to the floor, rising back to our knees, then finally standing, only to bump our heads against the ceiling once more.
Xenophobe wrote:Volts and Leafs for everyone!
Xenophobe wrote:bratticus wrote:Will the price of oil hit $200 or will there be a huge wave of defaults? In 2008 the price only got to $147 before businesses using that oil threw the towel in and the resulting demand destruction cause a price collapse followed by a stock market collapse. Why should 2011 be any different?
What have I been telling people! We NEED $250/bbl oil, the sooner the better. Americans must LEARN, and the only way to do that, lacking leadership on the part of our elected officials, is for the market to TEACH us.
Volts and Leafs for everyone!
Timo wrote:Xenophobe wrote:bratticus wrote:Will the price of oil hit $200 or will there be a huge wave of defaults? In 2008 the price only got to $147 before businesses using that oil threw the towel in and the resulting demand destruction cause a price collapse followed by a stock market collapse. Why should 2011 be any different?
What have I been telling people! We NEED $250/bbl oil, the sooner the better. Americans must LEARN, and the only way to do that, lacking leadership on the part of our elected officials, is for the market to TEACH us.
Volts and Leafs for everyone!
I'd prefer the Tesla, thank you.
Sys1 wrote:"$200 Oil or Bust?"
We will have both!
Pops wrote:I hate to say never – KSA could go *poof* or Israel could get righteous and incinerate the whole region – but I don't think it would reach $200 at a slow grind.
Xenophobe wrote:dsula wrote:Xenophobe wrote:Volts and Leafs for everyone!
Na, light small vehicles is the better choice. Motorcycle, 2 seater light cars (fiat 500, smart, ford ka, kia). Hauling around 500kg battery which must be replaced every 5 years is not good choice.
How dare you reply to a censored post! TPTB have decided you must not hear about the personal peak oil solutions being churned out by automobile manufacturers....it might demotivate your sale of peak hysteria to the masses! Bad squirrel, no nut for you!
bratticus wrote:AdTheNad wrote:bratticus wrote:Will the price of oil hit $200 or will there be a huge wave of defaults? In 2008 the price only got to $147 before businesses using that oil threw the towel in and the resulting demand destruction cause a price collapse followed by a stock market collapse. Why should 2011 be any different?
I've wondered about this too. With the growing use of oil in Chindia you would think the price wouldn't collapse as far as in 2008, but then the rising prices will probably have some effect over there as well.
Why didn't Chindia's massive consumption keep the price higher in 2008 either?
Chindia hasn't been well lately. Have you been paying attention to what's been going on since Sep 2010? Go look up news about China's trade surplus. There's lots of articles like this:China’s trade surplus cut in half as [the price of] imports surge
MarketWatch / Feb 14, 2011
China’s trade surplus was $6.5 billion for the month, compared to $13.1 billion in December, the reports said.
Then tell me all about how Chindia will support $200 oil.
eXpat wrote: I don´t think that we will reach $200, although I think is highly likely we will see $140 or $150.
anador wrote:Xenophobe wrote:Volts and Leafs for everyone!
And Hummers apparently...
Beery wrote:anador wrote:Xenophobe wrote:Volts and Leafs for everyone!
And Hummers apparently...
I'll stick with my bicycle. That way, all I have to worry about is the price of everything EXCEPT gasoline.
dsula wrote:Xenophobe wrote:Volts and Leafs for everyone!
Na, light small vehicles is the better choice. Motorcycle, 2 seater light cars (fiat 500, smart, ford ka, kia). Hauling around 500kg battery which must be replaced every 5 years is not good choice.
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