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Saturday, January 31, 2009

Global Recession Triggers Oil's Last Decline In Price?

Posted by AccGURU

If, and when, the world economy begins to recover, no later than 2012, the new supply will not be there to sustain it. Coupled with ongoing depletion, this lack of oil investment will lead to fresh highs for oil - as high as $300 USD per barrel. One can also imagine steeper decline rates (Bakhtiari T3?) by this stage too.

Anyone care to comment on the validity of this viewpoint? My feeling is
that anything much about $200 would see lights out for industrial civilisation,

I agree. Once upon a time, I thought the economy could handle $200
oil, but now that $147 broke the camel's back, I doubt it will ever
rise to those levels very very much.

In fact, with the economy completely screwed now, I think it would
probably go into another tailspin at $100.....

Anyone else noticed how petrol is creeping up to $1.20/L again...?
Very odd. It's on par with diesel for the first time ever.



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