After hitting $126, is $150 far behind?

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Friday, July 25, 2008 5:20:31 AM

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GasBuddy News Article

After hitting $126, is $150 far behind? Saturday, May 10, 2008
CNNMoney.com -- Oil leaped into uncharted territory Friday, soaring past the $126-a-barrel mark for the first time, and leaving analysts and investors wondering how high the price will go. U.S. light crude futures for June delivery hit an intraday record $126.20 in electronic trading, and set a settlement mark at $125.96. That was $2.27 above Thursday's prior record close of $123.69 a barrel. Continued concerns about supply, particularly from Venezuela in the face of reports that President Hugo Chavez's support of Colombian rebels could threaten the flow of oil to the United States.
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JT Moderator	Message Posted: 5/10/2008 6:16:47 AM	Ignore JT Report Abuse
	Saturday, May 10, 2008 CNNMoney.com -- Oil leaped into uncharted territory Friday, soaring past the $126-a-barrel mark for the first time, and leaving analysts and investors wondering how high the price will go. U.S. light crude futures for June delivery hit an intraday record $126.20 in electronic trading, and set a settlement mark at $125.96. That was $2.27 above Thursday's prior record close of $123.69 a barrel. Continued concerns about supply, particularly from Venezuela in the face of reports that President Hugo Chavez's support of Colombian rebels could threaten the flow of oil to the United States. Visit CNNMoney.com for full article

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zuke519 Rookie Author Georgia Posts:45 Points:11,075 Joined:Apr 2008	Message Posted: 5/12/2008 11:54:58 AM	Ignore zuke519 Report Abuse
	Nope - $150 is definitely just around the corner.
POLELANE Champion Author Ohio Posts:1,222 Points:120,475 Joined:Mar 2008	Message Posted: 5/12/2008 10:16:39 AM	Ignore POLELANE Report Abuse
	wish i knew
EasyMPG Champion Author Ontario Posts:9,115 Points:1,146,215 Joined:Jun 2004	Message Posted: 5/12/2008 9:25:06 AM	Ignore EasyMPG Report Abuse
	Well the inflationary backlash against the US greenback is not done yet. The greenback's supply has increased 1500% since the 1970's, so there is still plenty of room for the greenback to continue to fall in value.
Gas_Buzzer Champion Author South Carolina Posts:5,796 Points:989,690 Joined:Sep 2005	Message Posted: 5/12/2008 9:12:23 AM	Ignore Gas_Buzzer Report Abuse
	Most likely.
uksqueeze All-Star Author San Jose Posts:670 Points:710,335 Joined:May 2004	Message Posted: 5/12/2008 9:01:26 AM	Ignore uksqueeze Report Abuse
	Is $100 far behind?
jvt666 Champion Author California Posts:1,048 Points:340,590 Joined:Apr 2006	Message Posted: 5/12/2008 8:52:46 AM	Ignore jvt666 Report Abuse
	It's always some reason...
AlaRedNeck All-Star Author Kansas Posts:571 Points:94,125 Joined:Apr 2008	Message Posted: 5/12/2008 8:46:10 AM	Ignore AlaRedNeck Report Abuse
	$150 or MORE by mid summer...
nyacoub1 Veteran Author Chicago Posts:379 Points:38,855 Joined:May 2007	Message Posted: 5/12/2008 8:43:47 AM	Ignore nyacoub1 Report Abuse
	$150 by middle of summer.
bowler48226 All-Star Author Detroit Posts:700 Points:224,895 Joined:Sep 2007	Message Posted: 5/12/2008 8:43:36 AM	Ignore bowler48226 Report Abuse
	Old news.
ramshot412 Champion Author Riverside Posts:11,053 Points:1,109,825 Joined:Apr 2004	Message Posted: 5/12/2008 8:42:23 AM	Ignore ramshot412 Report Abuse
	Up, up, and away.
TBoneSoCA Veteran Author Orange County Posts:354 Points:67,955 Joined:May 2007	Message Posted: 5/12/2008 8:42:20 AM	Ignore TBoneSoCA Report Abuse
	.. and this is the same oil that sold for less than $70 a barrel a year ago
luv2sleep Champion Author Riverside Posts:1,379 Points:103,300 Joined:Mar 2008	Message Posted: 5/12/2008 8:37:44 AM	Ignore luv2sleep Report Abuse
	BOHICA - Bend Over Here It Comes Again - Another price hike.
Scion08Xb Rookie Author Arkansas Posts:81 Points:55,345 Joined:May 2008	Message Posted: 5/12/2008 8:33:53 AM	Ignore Scion08Xb Report Abuse
	it needs to go down by $70.00 a barrel
socalusra All-Star Author California Posts:669 Points:1,594,835 Joined:Aug 2003	Message Posted: 5/12/2008 8:33:31 AM	Ignore socalusra Report Abuse
	wait till DEC [Edited by: socalusra at 5/12/2008 11:33:43 AM EST]
rogerparry All-Star Author Florida Posts:754 Points:175,095 Joined:Jan 2008	Message Posted: 5/12/2008 8:32:46 AM	Ignore rogerparry Report Abuse
	The media will find more "bad news" stories to print so the prices keep climbing.
easybuddy Rookie Author Illinois Posts:59 Points:157,565 Joined:May 2006	Message Posted: 5/12/2008 8:28:02 AM	Ignore easybuddy Report Abuse
	i thought bigger is better
Panama Red Champion Author San Diego Posts:2,002 Points:830,015 Joined:Jun 2004	Message Posted: 5/12/2008 8:26:46 AM	Ignore Panama Red Report Abuse
	No
93probeguy All-Star Author Little Rock Posts:777 Points:200,880 Joined:Jan 2006	Message Posted: 5/12/2008 8:25:26 AM	Ignore 93probeguy Report Abuse
	i'm hoping to hear something good from them today, as for every day
NavyEOD Champion Author Los Angeles Posts:1,366 Points:313,705 Joined:Jul 2007	Message Posted: 5/12/2008 8:24:57 AM	Ignore NavyEOD Report Abuse
	I hope not. Not holding my breath though.
iluna Veteran Author Colorado Springs Posts:256 Points:54,420 Joined:Jun 2007	Message Posted: 5/12/2008 8:23:58 AM	Ignore iluna Report Abuse
	These greedy SOB's (speculators, politicians, etc.) are killing their golden goose. Pretty soon everything will come to a standstill and then what will they do to get more money??
Zinnoil Champion Author Illinois Posts:11,606 Points:1,398,270 Joined:May 2004	Message Posted: 5/12/2008 8:22:50 AM	Ignore Zinnoil Report Abuse
	Goldman Sachs said $150-200.
weenerdog All-Star Author Detroit Posts:987 Points:186,010 Joined:Jan 2008	Message Posted: 5/12/2008 8:22:31 AM	Ignore weenerdog Report Abuse
	I read this same article in the detroit news Sunday paper They are just preparing us for the $200 a barrel
FuelGrinch Sophomore Author Kansas Posts:156 Points:47,500 Joined:Aug 2005	Message Posted: 5/12/2008 8:20:07 AM	Ignore FuelGrinch Report Abuse
	I say $200 before the summer is over.
srtdc Sophomore Author Lincoln Posts:128 Points:20,645 Joined:Apr 2008	Message Posted: 5/12/2008 8:17:49 AM	Ignore srtdc Report Abuse
	Within a week
44Irish All-Star Author Ontario Posts:694 Points:184,325 Joined:Mar 2007	Message Posted: 5/12/2008 8:17:22 AM	Ignore 44Irish Report Abuse
	Really old news.
CyanSquirrel Veteran Author Virginia Posts:493 Points:105,530 Joined:Jun 2004	Message Posted: 5/12/2008 8:16:32 AM	Ignore CyanSquirrel Report Abuse
	Old news :-( Where's some fresh?
kruk Veteran Author London Posts:390 Points:143,400 Joined:Jan 2007	Message Posted: 5/12/2008 8:15:37 AM	Ignore kruk Report Abuse
	and seems that Big3 are ignoring and produce trucks and cars with big and inefficient engines.
joelimite Sophomore Author Virginia Posts:201 Points:54,360 Joined:Jan 2008	Message Posted: 5/12/2008 8:15:28 AM	Ignore joelimite Report Abuse
	You said it TEXJOHN.
TEXJOHN Veteran Author Dallas Posts:440 Points:36,280 Joined:Mar 2008	Message Posted: 5/12/2008 8:12:01 AM	Ignore TEXJOHN Report Abuse
	No. $150 not too far behind. $150 is ten times closer than $100 so it seems.
bbthegun All-Star Author San Diego Posts:616 Points:360,540 Joined:Sep 2006	Message Posted: 5/12/2008 8:10:04 AM	Ignore bbthegun Report Abuse
	Well, the speculators who invested in oil as a hedge against the dollar and doing all they can to drive the price higher for their clients to make sure they don't lose their investment. The demand and global conditions simply do not support this high price and it will fall and hopefully soon...
deerchaser Rookie Author Lincoln Posts:57 Points:476,415 Joined:Sep 2005	Message Posted: 5/12/2008 8:07:44 AM	Ignore deerchaser Report Abuse
	Just wish I owned a couple of oil wells.
bug27 Champion Author Kentucky Posts:1,378 Points:1,057,650 Joined:Apr 2005	Message Posted: 5/12/2008 8:06:01 AM	Ignore bug27 Report Abuse
	The quicker oil rises to $150 or higher, the quicker we will develop alternatives to make oil obsolete. Sweet!
EarlyMoose Champion Author Seattle Posts:1,359 Points:594,340 Joined:Dec 2005	Message Posted: 5/12/2008 8:03:39 AM	Ignore EarlyMoose Report Abuse
	It depends on the speculators.
Gerund1 All-Star Author Toronto Posts:686 Points:771,045 Joined:Apr 2003	Message Posted: 5/12/2008 8:01:49 AM	Ignore Gerund1 Report Abuse
	Just keep on predicting and it will come.
ts08 Sophomore Author New Jersey Posts:179 Points:45,290 Joined:Apr 2008	Message Posted: 5/12/2008 8:01:28 AM	Ignore ts08 Report Abuse
	Why ask us the readers, if it will reach $150...the companies, media and speculators already know it will...so stop the madness...start writing about how to save on gas and other stories..stop torturing people...
ned23 Champion Author Columbus Posts:2,778 Points:249,045 Joined:Dec 2003	Message Posted: 5/12/2008 7:47:49 AM	Ignore ned23 Report Abuse
	Unless they do something about the dollar, yes. If we can get 25 cents back on the dollar against the Euro, gas could drop by 50-60 cents /gal.
Jennijen Champion Author Dayton Posts:4,708 Points:900,195 Joined:Jun 2004	Message Posted: 5/12/2008 7:46:59 AM	Ignore Jennijen Report Abuse
	Enough of this guessing if oil will go up even higher... it might as well read: "$120 a barrel- is $1000 far behind?"
CTDPower Veteran Author Virginia Beach Posts:488 Points:177,575 Joined:May 2007	Message Posted: 5/12/2008 7:46:47 AM	Ignore CTDPower Report Abuse
	Answer: soon
LukeIN All-Star Author Indianapolis Posts:869 Points:165,735 Joined:Nov 2007	Message Posted: 5/12/2008 7:44:47 AM	Ignore LukeIN Report Abuse
	until something is done about the stock market speculators prices will continue to go up!
NissanGirl Sophomore Author Oregon Posts:163 Points:96,210 Joined:Jan 2008	Message Posted: 5/12/2008 7:44:15 AM	Ignore NissanGirl Report Abuse
	Uncle! No more!
rustyOR Veteran Author Oregon Posts:382 Points:86,760 Joined:Apr 2008	Message Posted: 5/12/2008 7:42:51 AM	Ignore rustyOR Report Abuse
	Greed is good.
okietree Veteran Author Oklahoma City Posts:381 Points:149,960 Joined:Oct 2005	Message Posted: 5/12/2008 7:41:21 AM	Ignore okietree Report Abuse
	I"m sure the oil barrel prices will continue to go up. As long as the companies can get away with it and the demand is there..... keep on raising it. Somehow we have to lower the demand.
spbob Sophomore Author Tampa Posts:242 Points:89,380 Joined:Feb 2008	Message Posted: 5/12/2008 7:39:53 AM	Ignore spbob Report Abuse
	It will go as high as the speculator's GREED will take it.
SummitSkiBum Sophomore Author Denver Posts:103 Points:90,145 Joined:Sep 2006	Message Posted: 5/12/2008 7:39:39 AM	Ignore SummitSkiBum Report Abuse
	$150 is only a few months away, followed by $200 by the end of the year!! MARK MY WORDS PEOPLE!!!
esquared All-Star Author Oklahoma City Posts:993 Points:547,675 Joined:Jan 2006	Message Posted: 5/12/2008 7:39:19 AM	Ignore esquared Report Abuse
	Well, glazarides, it's the first time in US history that both the president and veep are oil men. Go figure.
stevewwvu Champion Author West Virginia Posts:1,212 Points:209,885 Joined:Mar 2007	Message Posted: 5/12/2008 7:36:53 AM	Ignore stevewwvu Report Abuse
	the lies will get u sthere
glazarides Veteran Author Akron Posts:306 Points:314,365 Joined:Jul 2006	Message Posted: 5/12/2008 7:33:24 AM	Ignore glazarides Report Abuse
	I think it will, I think G.W. is giving us the stimulus checks to pay for that, it's the only way G.W. could find to siphon money from the government to the oil companies. Or am I just being paranoid.
Somis1 Champion Author Ventura Posts:4,278 Points:958,050 Joined:Jul 2005	Message Posted: 5/12/2008 7:32:53 AM	Ignore Somis1 Report Abuse
	We don't get much oil from Chavez, but an excuse is an excuse.....
kingdick Champion Author Minnesota Posts:17,549 Points:1,411,145 Joined:Aug 2004	Message Posted: 5/12/2008 7:32:43 AM	Ignore kingdick Report Abuse
	----------------------------------- There are areas on the north slope that are open for lease outside of ANWR that no one is drilling, use those areas. ----------------------------------- Jeb Bush's request to the Fed's extended the block on drilling on the offshore shelf around Florida, too close to home. More power than the environmentalist have. -----------------------------------
seedyh Rookie Author California Posts:1 Points:1,045 Joined:Oct 2007	Message Posted: 5/12/2008 7:32:10 AM	Ignore seedyh Report Abuse
	I'm loving my Prius more everyday! I drive 415+- a day at my courier job and it's costing me $29.50 to fill - up @ $3.89 a gal in California Northern and central valley. I expect $200 a barrel by 01-21-08 and from there who knows? As long as my employer keeps given me penny a mile every twenty five cents increase, I'm driving! Sure, sometimes 50mph but mostly 56 been known to drive 63mph! Lets hope it'll settle down, but I think we're on a ' runaway' train with no hope of stoping without a crash.