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

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Post by Adit Mon Sep 24, 2012 6:07 pm

what do you think? will it go down or is the time arrived for us to find another source of energy ? discuss.
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Post by Yuri Yukuv Mon Sep 24, 2012 6:25 pm

read this

http://belfercenter.ksg.harvard.edu/files/Oil-%20The%20Next%20Revolution.pdf
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Post by Adit Mon Sep 24, 2012 6:26 pm

Thanx dude.. sick of the oil prices rising daily in my country.
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Post by VivaStPauli Mon Sep 24, 2012 8:30 pm

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.
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Post by Yuri Yukuv Mon Sep 24, 2012 9:06 pm

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.

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

If Iraq becomes stable all bets are off
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Post by RealGunner Mon Sep 24, 2012 10:51 pm

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.
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Post by Sushi Master Mon Sep 24, 2012 11:30 pm

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

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.
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Post by zizzle Tue Sep 25, 2012 12:31 am

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.
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Post by VivaStPauli Tue Sep 25, 2012 10:54 am

Zizzle knowing his oil :bow:

What he said, exactly.

We're pretty much forced to find alternate sources of fuel within the next 20 years or end the industrialization.
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Post by Jack Daniels Tue Sep 25, 2012 12:15 pm

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

I already lost hope. Well atleast in my lifetime.
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Post by Potential Tue Sep 25, 2012 12:24 pm

Time to achieve cold fusion!
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