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Oil price to collapse to $20 barrel

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Comments

  • LeeSouthEast
    LeeSouthEast Posts: 3,822 Forumite
    Part of the Furniture Combo Breaker Debt-free and Proud!
    On the flip side, is there a chance of this being passed on to motorists?





    Thought not.
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  • Spirit_2
    Spirit_2 Posts: 5,546 Forumite
    1,000 Posts Combo Breaker
    More flip side hopes - maybe, just maybe it might be cheaper to fill our oil tank?:rolleyes:
  • crazygaijin
    crazygaijin Posts: 272 Forumite
    another flipside, it will be a very good time to buy into oil if it does go to $20.
  • kazwookie
    kazwookie Posts: 14,341 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Does that mean petrol prices will come down???
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  • N9eav
    N9eav Posts: 4,742 Forumite
    edited 19 July 2009 at 5:32AM
    kazwookie wrote: »
    Does that mean petrol prices will come down???

    They do in the USA. Each time the oil price moves the price on the forecourt moves almost daily.

    Here the companies hold back and make proffits. There is as much as 10p a litre difference across the town here.

    The big worry is.... IF prices come down the government adds on more taxes (for the enviroment of course). We won't moan about it as prices are low and we are happy. When oil and VAT go up again, we get hammered. So best it stays somewhere reasonable for long term stability.

    Would'nt be so bad if you could stock pile your fuel but you can't
    NO to pasty tax We won!!!! Just shows that people power works! Don't be apathetic to your cause!
  • Bloo_Loo
    Bloo_Loo Posts: 135 Forumite
    edited 19 July 2009 at 7:38AM
    novazombie wrote: »
    The oil price is set to absolutely plummet

    Get out of oil quick if you havent already.

    http://www.moneyweek.com/investments/commodities/why-the-latest-oil-bubble-could-be-about-to-burst-14962.aspx
    why? Its an artical about one persons reasons why it might fall, I also hear Goldmans are LONG on Oil.

    Why the latest oil bubble could be about to burst
  • ad9898_3
    ad9898_3 Posts: 3,858 Forumite
    I disagree, if you're prepared to go long on oil, expect $200-$400 p/barrel within a decade. Peak Oil is here folks, and our only hope of grid level energy on a scale to keep 6 billion + people afloat is fusion, which is at least 2-3 decades away, if ever.
  • thescouselander
    thescouselander Posts: 5,547 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    ad9898 wrote: »
    I disagree, if you're prepared to go long on oil, expect $200-$400 p/barrel within a decade. Peak Oil is here folks, and our only hope of grid level energy on a scale to keep 6 billion + people afloat is fusion, which is at least 2-3 decades away, if ever.

    What about bog standard nuclear?
  • Bloo_Loo
    Bloo_Loo Posts: 135 Forumite
    thescouselander wrote: »
    What about bog standard nuclear?
    this just confusions the issues.
  • Wookster
    Wookster Posts: 3,795 Forumite
    I just don't believe this.

    Energy (in all forms) will become a major restriction to economic growth over the next 20-30 years.
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