Oil prices...will it ever go down in the near future?

what do you think? will it go down or is the time arrived for us to find another source of energy ? discuss.

read this

http://belfercenter.ksg.harvard.edu/files/Oil-%20The%20Next%20Revolution.pdf

Thanx dude.. sick of the oil prices rising daily in my country.

Since oil is finite, and demand is steadily increasing: no. They'll never really go down again. They might go down a bit in the short term, but long term the price is only going up.

VivaStPauli wrote:Since oil is finite, and demand is steadily increasing: no. They'll never really go down again. They might go down a bit in the short term, but long term the price is only going up.

You are leaving out technology, as the rate of technological progress accelerates supply "growth" will outstrip demand which for OECD countries is flat for all intents and purposes.



If Iraq becomes stable all bets are off

Adit wrote:Thanx dude.. sick of the oil prices rising daily in my country.

Not just yours mate, We have experienced an amazing rise in the oil prices over here in just 7 years.

Back home, I fill out the car with a buck.

And no, prices will not drop in any foreseeable future, unless some magical new energy source is discovered from day to night.

We're pretty much stuck with oil for a few decades, IMO.

I remember in 1994 gas was selling at about 10 cents a leter in lebanon and now the price increased a whole doller. Hell in the US a gallon of gas that was selling for a dollar 10 years ago is now worth 4 bucks. This increase does not mean that gas is overpriced, it just means that it was undervalued before and imo it's still undervalued now. If gas is gonna be priced in the market, without political interference and what not, the price would easily double. Remember, a few years ago oil was selling at $140 when there was no bans on the Irani oil. Imagine where the price would be today of the Saudi's were not "floading" he market.

Zizzle knowing his oil

What he said, exactly.

We're pretty much forced to find alternate sources of fuel within the next 20 years or end the industrialization.

15 years ago Gasoline was only 15 pesos per liter.. now 66..

I already lost hope. Well atleast in my lifetime.

Time to achieve cold fusion!