Will Oil hit 90.00 a barrel in the next 12 months?

I think yes, consider the Chinese and Indian economies. The Hurricane season coming soon and impending terrorist attacks. Add to the fact all the hedge fund companies are pouring money into oil big giants like Exxon etc.
What are your views, thank you

Answer:
Most defineatly. $100 per barrel by 2010. Currently the world's oil production is at its peak (peak oil) at around 85mbd, demand is at 86mbd. By 2010 we will need 95mbd and production would have already begun to decline (around 82mbd in 2010). So yes, $90 per barrel in 2008-2009, and $90-$350 between 2010 and 2011.

Sorry, but i dont reallly care about the price of petrol. I drive a toyota corola 1.8l so it save me petrol i dont mind the price. Petrol here in australia is about $1US dollar per litre. i pay $40 a week on petrol. So even if it hit $100 im not gana really suffer. But i think cars should be more efficient if oil is pricier and running out. electric and gas cars should help.

I think it all depends on the world 'VALUE' of the U. S. dollar. If the value of the dollar goes way down it takes more of them to buy oil from the oil producers,,,,,and us previously rich Americans,,,,but currently getting poorer,,,,are going to end up paying more dollars at the pump for gas, and paying higher amounts for every item that depends on fuel in the USA.

Is there a way out of this economic mess?

Yes, elect Ron Paul as the next President & he will try his best to get the U.S. back on the Gold standard which enjoyed about 130 inflation FREE years, before most of us were born.
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I think Oil might hit $100 by the end of this year if things get really bad.

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Will Oil hit 90.00 a barrel in the next 12 months?

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