Post A Reply
read DMs/my profile
login
|
join CAFords
|
search
|
faq
|
»
Northern California Ford Owners
»
Automotive
»
General Talk
»
What happened to $4 gas?
» Post A Reply
Post A Reply
Login Name:
Password:
Message Icon:
Message:
HTML is not enabled.
UBB Code is enabled.
[QUOTE]Originally posted by iceman302: [QB] [QUOTE]Originally posted by 532Fastback: [qb] [QUOTE]Originally posted by iceman302: [qb] [QUOTE]Originally posted by iceman302: [qb] The fact of the matter is that there is a lot more going on than supply and demand. With the higher prices, the demand for oil has actually reduced for the first time in more than a decade. The supply/demand price of oil is right at $65-$70 a barrel... exactly where it was about a year ago. Nothing in the world has happened on the supply or demand side to double it in a year's time. The main problem is speculation. The weaker dollar is also causing gas prices to spike as it becomes cheaper for investors in countries with stronger currencies to buy oil. BTW, the inflation derived price of a gallon of gas going back to the 60's is $2.21 (excluding the increased world demand). I also predict that oil will be back under $100 by the end of the year. [/qb][/QUOTE]I'm a bonafide Nostradamus! And over 3 months ahead of the end of the year. [/qb][/QUOTE]my prediction is oil prices wil go back over 100 and gas prices will go back up to 4.00 a gallon after nov 3rd. [/qb][/QUOTE]Not likely. The US accounts for 25% of the world's consumption of oil. From November of '07 to May '08, 40.5 BILLION fewer miles driven by US consumers. That figure has been revised up since then. Demand was down 7% in September this year compared to last year... a difference of nearly 1.5 million barrels a day. The slump in energy demand has accelerated beyond the U.S. In India, domestic oil product sales totaled 2.41 million barrels per day in August, the lowest level this year, according to Barclays Capital research. In the same month, Japan's oil demand fell by 8.4 percent. I think that it will probably trade in the mid to low 80's by the end of the year now. [/QB][/QUOTE]
(
how?
)
Instant Emojis
Instant UBB Code
What is UBB Code?
Options
Disable smilies in this post.
*** Click here to review this topic. ***
Questions/Requests/Suggestions? email CAFords
Fueled by
Ford Mustang Owners
on CaliforniaFords.com