Oil

[italkcash]

Oil has once again been hitting a new height of 120$ per barrel this week. Once again the black gold is set to rise through the skies because of multiple factors. The instability in Nigeria is causing production output to sink, Hedge Funds buying up oil and China consuming more and more oil by the day.

Will oil reach 150$ a barrel soon? If so how can this impact the daily lives of many people?

[italkcash]

Funny to see how the oil in just a short time (since my last post) has risen a huge leap! Today as I write this it has hit 141$ per barrel, an investment worth it since the last post. It seems more and more that oil will reach 150$ a barrel in the coming next weeks, if not this week even! Stay tuned.

[buaya]

Originally Posted by italkcash

Funny to see how the oil in just a short time (since my last post) has risen a huge leap! Today as I write this it has hit 141$ per barrel, an investment worth it since the last post. It seems more and more that oil will reach 150$ a barrel in the coming next weeks, if not this week even! Stay tuned.

It will continue to rise for the fact that

1. production of oil has hit a wall as production has come to a point of diminishing returns

2. the supply of oil can't really be increased like what the oil cartel claimed as there have never been any new oilfields set up since , 1980's?

3. The demand for oil is inelastic as there are few substitues for oil.

[italkcash]

And last friday, new record once again, 147$
When will this stop? Then again, this is a huge potential to invest in with the current trend that doesnt seem to be going down anytime soon.

[leozone]

Will oil reach 150$ a barrel soon? If so how can this impact the daily lives of many people?

The current oil price really give the big impact especially to developing country. Due to this matter, people will also facing other's problem like increasing of food and others services price. This will certainly cause loss of purchasing power among poor and average people (inflation).

[john.baem]

I think, oil price will keep on increasing and currently they are on retracement level which i think later, if many speculation coming in like Iranian being attack by Israeli and US will surely lead to again a new price in oil! gosh!

[leozone]

Yes! absolutely!..attacking Iran will lead to the hike of oil price. US and Israel should act properly due to this matter. Iraq attacked should remain as the big lesson for them.

[john.baem]

Many of us are aware about this but when it goes to political, speculation and dirts in it, in any way they will try to attack Iran to proof them wrong at the end of the day and its only their plan to control massive oil sector in Iran. Current news, Saudi Arabia the US alliance is planning to buy many stuff from Russia for only asking Russia to stop defense Iran in many ways.. Bullshit!

[leozone]

All of us should be aware of this. Increasing of oil price is the global problem. Involving political matter will make it worst. Serious action must be taken for the sake of people life.

[buaya]

Common people do not have the marco view of the situation. They think mirco-ly