It's now around $66 a barrel down from $78. Still going down or back up?
2006-09-09 07:25:18 · 10 answers · asked by zidag123 1 in Business & Finance ➔ Investing
deep water finds in the gulf of Mexico is Estimated from 5- 15 billion barrels, some experts say up to 35 billion barrels. it is predicted to boost the us reserves By an additional 50%. to 65% also they found new reserves in Colorado Boosting Us reserves even more. so much for Bio fuels . the price will go down , and stay down at least till After the election in November!
2006-09-09 07:35:54 · answer #1 · answered by Anonymous · 2⤊ 0⤋
It's going to go back down because of the oil find in the Gulf of Mexico. They say that 'Team Chevron' has found approximately 4 billion barrels of oil which could possibly be about 50% (or more) of the United States gasoline supply. MORE GLOBAL WARMING!!!. This is actually a good thing, so by the time our children have kids, there will probably be enough oil to last a few generations.
2006-09-09 14:28:40 · answer #2 · answered by Anonymous · 0⤊ 0⤋
I wish I knew the answer to this question. If you are a chart person, the price is either very close to the 200 day moving average or below it right now. This would infer the price would likely move lower. But if you look at geopolitical concerns and the apparently insatiable demand from the Chinese and Indian economies, you might think the price would stablize or even move higher. I tend to think it could go lower from here, but not a lot lower.
2006-09-10 12:06:00 · answer #3 · answered by perdidobums 5 · 0⤊ 0⤋
oil will stay down till after 9/11 week. check the weather because the sooner it gets chilly the sooner demand will go up for natural gas & heating oil.
2006-09-09 14:28:11 · answer #4 · answered by kla 2 · 0⤊ 0⤋
in the short-term, it will go down to about 55-58$ area. in long term, it will go back up
2006-09-10 02:40:05 · answer #5 · answered by Hoa N 6 · 0⤊ 0⤋
still going down and expect a big drop
2006-09-09 14:31:46 · answer #6 · answered by native 6 · 0⤊ 0⤋
Down right now. Until someone invents another disaster for it to up again.
2006-09-09 19:54:44 · answer #7 · answered by William E 3 · 0⤊ 1⤋
its going back and forth because the industry is crooked
2006-09-09 14:27:02 · answer #8 · answered by NNY 6 · 0⤊ 0⤋
yes
2006-09-09 14:26:36 · answer #9 · answered by Anonymous · 0⤊ 0⤋
it will remain fluctuating .
2006-09-09 14:35:25 · answer #10 · answered by sheema3 2 · 0⤊ 0⤋