USA, Canada, UK, etc......... got a disease. I mean the intent started as something really really good. Things we all should be behind.
Then it turned.
Then it turned.
You’ll never see $70 oil again.
- Thread starter Snagglefoot
- Start date
slo town
$200 Site Donor 2026
Many, many reasons but the biggest one IMO is that people got lazy and blamed others for their stagnation.
Scott
Sounds good, but oil prices are massively influenced by politics. No denying that.
Here is some good news, for most folks outside of the die hard anti-fossil fuel Greenland is hot crowd.....Oil is within spitting distance of $70 right now.
I think it will slowly either stabilize or get even better. Here is my take on it all......The Gulf countries are going to find a way to bypass the Strait of Hormuz. They don´t want to get strangled again. OPEC is effectively destroyed, thanks to Venezuela pulling out of it and high production from the US and others. Gulf countries will be pumping away HARD once they can move it. They have been starved of revenue, so they have ground to make up and they don´t care about the price of oil....only the revenue they BADLY need. They´ve been pumping like wild and filling up their storage. So all that is going to be released ASAP, along with max production, which will increase as they repair infrastructure.
So here´s my prediction, which is worth about 2 cents. I think oil is going to plunge. I´m saying $50, but I would not be surprised if it goes lower. I don´t know when....that´s the big question. But it will happen.
Btw, the US will come up with a way to deal with the cheap drones. You can bet that is a very very high priority for the Pentagon. And those cool little drone boats in our drone fleet....they will deal with the mine-planting speed boats. Iran won´t be able to continue the threat for long.
BLAME! Yes. You are given advantage and you still blame others. Ugg humans, all humans....ugg I like dogs.
GON
$175 Site Donor 2026
Your entire premise for starting this thread was political at its root. I am dumb, but I didn't just fall off the banana boat yesterday.
Now your insulting dogs?
Dogs do not eat there own
Dogs have no malice.
Dogs are 100% loyal.
Dogs are superior to humans in every way except apposable thumbs.
No problem. AI will take care of pesky humans.
Predictions without a timeline are worthless. Its like the premise of this thread.
Those that live long enough might see oil at $200 or $30. Just can't say when.
In the current regime there was never a shortage of oil, just a shortage of ways to transport and refine it.
Almost back to $70 now...
Haha. It ain't over 'till its over.
As it has been to me as well. There are two types of people-those who have lived in California-and enjoyed it's benefits, good wages, massive property appreciation, and the fantastic weather. And those that are jealous. And because of the later these threads are always locked at some point.
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If its so awesome why the net negative domestic migration then, including the very wealthy?
I love to visit California, its a beautiful place. The COL vs income for most professions don't make sense to me. It did if you wrote code years ago, but those people have been replaced by H1B holders. I don't see any professions in California anymore that pay enough more compared to other states. Home prices are crazy as are property taxes unless you have lived in the same house for a long time and are capped.
It may come along soon enough, I said $70.00 not 70's.
I’m 4 hours NW of you….so…Different set of problems - not globally traded commodities. I agree with you on those things but around here I would line up for a decent $12 burger and $4 loaf of bread. Clearly life is cheaper where your at.
I didn't mean in 10 years. More like within a year.
There, it's back to it's 2 cent worth.
Predicting the future is hard.I didn't mean in 10 years. More like within a year.
There, it's back to it's 2 cent worth.
$50 is possible in one of two ways. Global recession (doubtful) or a surplus in crude due to oil refinery capacity constraints due to refinery damage in the middle east.
Otherwise I am guessing we hang around $70 +/- for the next year. If it gets in the low $60 I am pretty sure you will see the varios countries that have been letting out there strategic reserves start buying again - ie USA, China, Japan, Australia etc. ie buyers of last resort will keep it propped up. IMHO.
My guess is not worth anywhere near $0.02 however.
slo town
$200 Site Donor 2026
First, I agree with you.
But let's not forget the stock market. On a whim 20 to 25 years ago Sue and I opened a separate 401K with just $4.000 in it. We invested "recklessly" in high risk tech stocks. It was our "mad money" to gamble with. That original $4,000 has turned into $80,000 plus last time I looked, which I seldom even do anymore.
My point is even those with very few financial resources, but having at least a whiff of financial self control, could have done very well for themselves. Imagine a low wage earner doing the same thing, even with just $1,000, and having the discipline to leave the money invested.
My point is, there are many opportunities in inflationary economies.
Scott
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