What do you think will happen over the next 4 -6 months with the oil, and thus also the petrol price?
546505
elevation...till developed nations reduce their consumption.
1122106
Well, we'll end up paying more for what we have. It's basic economics of supply and demand. Look at fuel prices. They cut the supply, and we pay more, yet we still pay.
317663
its mere speculation, \n\nthere is just no economics in the way oil prices are moving..there is no supply problem as of now..but still u can see this surge//\n\nthe prices are news based and manipulated, another interesting observation is that since US plan on IRAN is now more real and around the corner..u knw wat i mean..
1170530
Oil prices in the future will increase, because:\n1)  Inflation.\n2) It is a limited resource; no new oil is being MADE.\n3)  We (humans) are consuming it faster than we are replacing it through new discoveries.\n4) Global consumption is increasing due to greater (total) energy demands.
684021
If the oil proce goes up then the gold also will go up
265734
I stopped investing in US dollar denominated assets some time ago. As someone in the oil business I have been expecting the oil trade to eventually begin using the Euro, and believe that in effect it already has. I think that oil has no chance of any significant price decrease until the dollar strengthens proportionally. With the twin deficits as large as they are there is little chance of this. \n\nI used to actively trade the Forex, but changed my strategy to hold foreign securities instead, and have somewhat concentrated on Canada, generally in the energy sector. Both the Canadian dollar and the Australian dollar are generally commodity driven and I have benefitted from that move. Real estate has been the only asset in the US I was willing to hold, and I think that price increase has been related to the falling US dollar as well. \n\nKeep in mind that the US is still the largest buyer of oil in the world, so even if the Euro-oil-trade were to become widespread, it would not change a large portion of the world oil market. Since the Forex is a trillion dollar a day market, it seems unlikely that changing the currency that half of the world’s oil is priced and traded in would have a large effect on the value of the US dollar. I do think it would have a further negative impact on the dollar, but am skeptical of claims that it would be catastrophic. \n\nThere has also been some interesting news recently about petro-dollars being converted to Euros. U.A.E. apparently as a quiet reaction to all the hoopla over the ports deal is switching at least 10% of its holdings away from the US dollar, and it looks like they might not be buying any more Boeing jets. \nhttp://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/03/14/cnuae14.xml&menuId=242&sSheet=/money/2006/03/14/ixcity.html
503007
Of course the main issue is and always will be competition. But as a product standpoint it would have to be rising manufacturing, shipping, and product costs due to the increase in energy prices.  Oil is used in more than just vehicles; it's used in many products or the manufacturing of them.  We have already seen the increase of "Oil" not only in our fuels but in consumer price index that rose last week.  It's a trend that will not fall until alternative energy sources are more widely embraced by the market.
1056073
It is a real concern, but whenever someone makes a prediction about when a country of the world will reach peak oil output, they do so with what then is considered a researve.  As the cost of a barrel of oil increases, sources for oil that were once not considered a researve then become on because at that cost it is economically viable to recover it.  With the recent spike in oil prices, North America can now clasify the tar sands in Canada and the oil shales in Colorado oil researves, and that being the case, it is estimated that in the US alone, we now have more economically recoverable oil then Saudi Arabia, the worlds largest exporter.  As the price continues to increase, other marginal sources will become economically viable.  Sooner or later, we will reach a point where there simply isn't enough oil available for any price, but that is still a ways off yet.  I believe that before we reach that point, oil will be more expensive then alternate fuel sources.  Through simple economics, I believe that people will begin using these alternate fuels simply because they are less expensive.  I believe that the high cost of oil will spawn invention and inovation into the energy sector, and I believe that has already begun.  We are working on increasing production of biodiesels and ethenol, and there is increased research into fuel cells and electric autos.  I think the future lies in hydrogen burning technology personally.  We already have engines that burn Hydrogen, but we're still working on the fuel tank dilema.  So, for a long answer, I believe that there is and will be time. I'm looking foward to being put out of buisiness.
409202
no, the more we war with the middle east, the higher prices are gonna go. south america is laughing because they arent gonna sell to us either. we are alienating ourselves. by this, we'll choke off any oil contacts & grind our production, tranportation & economy to a halt. uk isnt gonna back us anymore, we lost any european alies with the last iraq campaign, the saudis have other customers & dont necesarilly need us & irael has always sabbotaged usa, obviously not our friend. we have 20 years of oil at best here at home. china & russia wont buddy up. who do we have left. we're wedging ourselves into a position of having to attack & steal. yeh, the global economy will change in the near future, for the worst.
296789
First, you need to define 'goes bust'.  Even if the price went really high (say $10.00 per gallon), it would only be transient because: 1) people will adapt their behavior to reduce consumption (we saw this already at $3.00/gal.), 2) many alternative forms of energy will become price competitive, and 3) a lot more oil and gasoline will eventually be found and produced because it will be very profitable to do so.\n\nHistory repeats itself.  We had major fuel/energy crises in the 70's.  In 1979 I paid $1.069 per gallon; after inflation, that is over $3.00 per gal. now. And, my very economical economy car ( a very small 1976 Toyota pickup) got 'awesome' gas mileage of 18 mpg highway!  "Experts" then said there was only enough oil left in the world to last until the mid-90's (ten years ago!).  In the 70's most cars got about 10-12 mpg, now many get TRIPLE that!  Technology will triumph again.\n\nBest wishes!
1028689
Yep. Correct.  \nBP announced today that they expect the Oil price to fall.\nThey didn't give a specific reason for this sudden announcement.\n& who do you ask?\nDo what I do & make up my own mind.\nWith the Insurgents a lil more fazed after head-honcho dead.\nThey'll be able to pump at full steam ahead instead of half-cocked of late.\n\n& once the OIL's all gone, I suppose it's too late to start debating re. the legality of the Iraq invasion again!
426565
Oil prices will probably keep escalating, because everyone is using cars, and even though oil prices are becoming more and more, we keep using the same amount, if not more. Oil prices aren't going to be what matters for people to buy more efficient cars, it's going to be when the more efficient cars become more commonly used by the world's people.
534849
Probably alternative fuels.  It would be nice to spend some research and get some other sources to diversify risk.  Right now, if the Middle East embargoes oil, we would be sunk.  If we had other sources, it wouldn't be as big of a deal.
766758
It is kinda hard to answer this because it is very opinionated but i think it will be rather soon because of the Oil Crisis. eventually the oil rich contries will be over run but oil hungry nations that haven't prepared for a huge shift such as the loss of oil. Eventually war will break out over it and the allience system will kick in much like WWII.
299615
If we bomb Iran, we will suddenly see gas prices between $7-10 dollars a gallon and even higher as we see massive gas shortages.  \n\nIf we leave Iran alone, we'll see gas prices at an average of $3.50 for the summer, $4 by fall or higher if a hurricane hits the gulf.
481296
I read a report about 6 months ago that said gas prices would have to exceed $6.00 per gallon before it would even change our personal driving habits.  I believe this and I also believe the first 2 answers you got.  If the price gets high enough, will figure out something better.
967853
Alternative fuels and they will call the oil industry into Congress again for a "stern talking to..." not that it will help.  Oil industry rises and falls on the price of oil, plain and simple.