New York Classifieds

GasBuddy News Article

votes

Oil prices will rise as supplies tighten? Hardly.

The Christian Science Monitor -- Oil prices, which fell below $97 a barrel on Monday, are not poised to surge in the long run because long-term production is declining. Better technology and, if needed, higher oil prices mean the long predicted peak in oil production is a long way off. Most commodity prices are collapsing. Copper is down 18 percent from its February 2011 peak. Corn prices are off by a quarter since last summer. Natural-gas prices are half the level of six months ago. Yet crude oil, down from its April peak of $114 per barrel, has risen by a third from its October low of $76 to again flirt with the $100 mark.

On Monday, they dropped below $97 on concerns about the lack of a deal on Greek debt.

Read the Full Article

Submitted Feb 06, 2012 By: jwalkerh

Back To News

Category: Daily News Article Discussions > Topics	Add to favorite topics

Author	Topic: Oil prices will rise as supplies tighten? Hardly.	Post a Reply Back to Topics

REPLIES (newest first)

bigmoo63 All-Star Author Kalamazoo Posts:884 Points:56,610 Joined:Nov 2009	Message Posted: Feb 6, 2012 6:57:38 PM Ignore bigmoo63 Report Abuse Another article. And another conflicting perspective. Lets get real here. Does anyone have any proof of any of these claims? Its like the wind blowing. And as consistant as a paper cup in that wind.
K9LO Champion Author North Dakota Posts:1,417 Points:307,065 Joined:Nov 2010	Message Posted: Feb 6, 2012 2:04:05 PM Ignore K9LO Report Abuse Oil does not run on supply and demand. It runs on greed. Everyone is getting in on the pie accept the everyday person, who is getting ripped off.
graceman Champion Author Baltimore Posts:3,751 Points:917,820 Joined:Jun 2008	Message Posted: Feb 6, 2012 11:11:29 AM Ignore graceman Report Abuse They will find a way!
TripleHs Champion Author Austin Posts:1,842 Points:598,430 Joined:Oct 2009	Message Posted: Feb 6, 2012 11:10:50 AM Ignore TripleHs Report Abuse go lower
BobBG Veteran Author Albany Posts:447 Points:581,400 Joined:Nov 2005	Message Posted: Feb 6, 2012 10:53:03 AM Ignore BobBG Report Abuse Reading the different articles today I see that oil prices are going to go up, down, and sideways. We will see.
Edpap Champion Author Pennsylvania Posts:1,573 Points:152,025 Joined:Oct 2011	Message Posted: Feb 6, 2012 10:49:22 AM Ignore Edpap Report Abuse Somehow big oil has managed to export more than we import during the periods of high prices...in other words, they will produce oil, but only when they can sell at the price they want. We don't need imports...they do to keep prices high...it's all a game and we are the losers. Get rid of the oil monopolies!