2006-09-08 16:40:55 · 8 answers · asked by Sham 1 in Business & Finance ➔ Corporations
Well Sham, it is not impossible but possible only when America decides to explore its oil resources and reduce its import as well as consumption of oil as a source of energy!
Further, all those countries that are capable should be allowed and encouraged to develop and use nuclear energy so that pressure on oil for energy can be minimized. The economics of nuclear energy and politics should not be mixed, as is apparent in the case of Iran!
The present critical political situation in the Middle East should be resolved as soon as possible so that the flow of oil can be maintained steadily and that will have a positive reflection on the price.
More off-shore explorations should be launched so that this hidden black gold can be brought out to benefit humanity and human progress!
Considering all the foregoing factors, there is no reason why the price of oil should not revert to that prevalent in 1950s or 1960s!
Hope for the best Sham!
Cheers!
2006-09-08 18:46:04 · answer #1 · answered by Sami V 7 · 0⤊ 0⤋
oil prices are primarily set by supply and demand and geopolitical events. the weather is a factor Iran north Korea Nigeria venezuela etc. they may and they may not. we don't have a crystal ball..
2006-09-08 23:50:24 · answer #2 · answered by moonwalker 3 · 0⤊ 0⤋
I heard that gas was suppose to go down to $2.00 a gallon by Thanksgiving
2006-09-08 23:48:59 · answer #3 · answered by pomsquad2003 2 · 0⤊ 0⤋
Most likely when a Texas oilman is not running the country.
2006-09-09 00:10:26 · answer #4 · answered by knowledgeisgood 3 · 0⤊ 0⤋
Yes when we demand a change in technology to ethanol or energy that does't pollute our environment bad choice oil.
2006-09-08 23:46:33 · answer #5 · answered by knowitall 1 · 0⤊ 2⤋
I doubt it..even though it's been dropping lately i don't think we'll ever see prices below 2.00 again
2006-09-08 23:42:57 · answer #6 · answered by Anonymous · 0⤊ 1⤋
Yes, may be in the dream.
2006-09-09 00:00:39 · answer #7 · answered by Govinda 4 · 0⤊ 0⤋
No
2006-09-08 23:41:39 · answer #8 · answered by Big D 1 · 1⤊ 0⤋