Close Topic Options

Oil - $50 A Barrel?!

OIL PRICES MAY REACH $50 PER BARREL BY END OF YEAR

Oil prices could rise as high as $50 per barrel before the year is up, analysts say, as the world's growing thirst for crude stretches supplies thin and uncertainty abounds in petroleum-producing nations.
Ref. https://deseretnews.com/dn/view/1%2C1249%2C...81914%2C00.html

Some analysts claim that inflation will become very apparent because of the increase in oil prices over the last two terms. Once great concern is the fact that countries that do not have their own oil supply have to import it at these higher prices thus limiting their ability to purchase other merchandise. this leads to an increase of prices to compensate thus throwing the cost on to the consumer ultimately. Are you worried?

Barrel Oil

I dont think there is a need to worry about the oil prices going up to $50 a barrel. If demand were to become so high to warrant further spikes, there would no doubt be plenty of opportunity to extract oil from reserves that until now have been untapped. It is estimated that the US itself has many unexplored oil reserves, and there are numerous exploitations going on around the world; enough to control the oil demand and price hikes. My main concern is our dependance on oil; I believe we should begin looking at oil alternatives so that 200 years from now when we will face a real problem of an oil shortage, we will have the choice to use oil alternatives.