Trump $20 oil

Snik · Tar Sands Joined: Jun 19, 2008 Posts: 81

Donald Trump claims that if it weren't for OPEC production restraint, oil would be $20. I guess they have more excess production than I thought! So much for Peak Oil.

When an expert like that talks, we have to listen. Wink

joeltrout · Light Sweet Crude Joined: Sep 19, 2007 Posts: 1317

Snik · Tar Sands Joined: Jun 19, 2008 Posts: 81

Actually I wouldn't have doubted you at all on the price drop. I told everyone I talked to that I thought it would drop back to at least 80 before too long. With the world apparantly going into recession, or worse I would not doubt that we may even see $50 oil in the next 6 months. Got my hummer on order already....lol.

Trump went on to talk about how we need to develop shale oil, alternative energy sources, etc. I guess he doesn't realize that if oil drops to $20 nobody will be able to go after reserves like shale oil, and more expensive (at $20 oil) alternative energy sources will once again be put on the back burner.

IMO one of the worst things for this country's long term health would be for oil to drop back to levels like that. Then when PO does (if it hasn't already) hit we'll be as ill prepared for it as we are today.

Wonder how much Trump will get out of that $700 bil bailout? His primary business is real estate after all.

joeltrout · Light Sweet Crude Joined: Sep 19, 2007 Posts: 1317

TreeFarmer · Heavy Crude Joined: Jun 26, 2007 Posts: 352

How do you think the country will fare if oil stays between $70 and $80 for a couple of years?

Would that range equate to ~2.75 a gallon gasoline?

TF

VMarcHart · Posted: Tue Oct 07, 2008 6:41 am Post subject: Re: Trump $20 oil

aahala2 · Tar Sands Joined: Mar 25, 2008 Posts: 88

Trump is widely considered an expert. Comb over yes, the
price of oil no.

yesplease · Fission Joined: Oct 03, 2006 Posts: 2569

I don't think we'd be at $20, but I also doubt we would be at $90 if an world oil production increased by a percent.
_________________