Oil has gone from $78 per barrel last August to $50 a few weeks ago, and now it is at $62.
Where will it go next? Is ethanol going to push oil prices down, or is conflict with Iran going to push them up??
Give me your prediction!
2007-03-01 05:44:48 · 9 answers · asked by D. V 2 in Business & Finance ➔ Investing
Up.
2007-03-01 05:47:41 · answer #1 · answered by Anonymous · 1⤊ 0⤋
If China is truly putting the reigns on runaway growth there will be a lower demand from them for oil (and they use a lot of it). If the demand decreases than supplies will increase. If the supplies increase than what "should" happen to prices?
Correct! Prices will decrease. I would watch the activities in China over the next week or two.
Now that being said we are heading into our summer driving season so it would behove greedy oil companies and their stock holders to artificially keep prices as high as they can.
So to sum it up will the price go up..or down. And the answer is yes. (But keep an eye on China)
2007-03-01 18:41:03 · answer #2 · answered by Anonymous · 0⤊ 0⤋
1) $100
2) Ethanol cannot push oil prices down if the demand for oil is still rising.
3) There are is no conflict with Iran and they DON'T SELL OIL to the United States of America.
If you want to reduce Oil Demand then buy a 2007 Honda Civic GX (IT DOES NOT USE GASOLINE)
2007-03-01 14:31:52 · answer #3 · answered by Anonymous · 0⤊ 1⤋
Energy commodities are very volatile and risky.
Even some top hedge-funds managers have lost money with them.
Ethanol will take at leat a decade to make a significant competition.
Iran, war will begin the next year, so if a democrat government takes over, they can't get out of it, leaving nuclear plants unattended.
2007-03-01 16:05:44 · answer #4 · answered by Carlos G 3 · 0⤊ 0⤋
Down. In the 50's by the summer You watch too much tv
2007-03-01 13:50:32 · answer #5 · answered by mark c 2 · 0⤊ 0⤋
$63
2007-03-01 13:47:06 · answer #6 · answered by Elle R 1 · 1⤊ 0⤋
Well... once i get this new energy source idea of mine up and running.. oil will be worth about as much as pocket lint
2007-03-01 13:54:11 · answer #7 · answered by USMC Recon 2 · 0⤊ 0⤋
i see it at 70 dallors a barrel by june
2007-03-01 13:47:36 · answer #8 · answered by Dr Universe 7 · 0⤊ 0⤋
I'll go with Elle's answer.
2007-03-01 13:47:45 · answer #9 · answered by fraunkensteen 2 · 0⤊ 0⤋