Oil Price thread

[hoon]

Oil prices have rebounded as investors begin to consider that a fuel price rise in China may actually increase demand there.

US sweet, light crude rose as much as $4 to $136 a barrel, while London Brent rose $3.52 to $135.52.

http://news.bbc.co.uk/1/hi/business/7464992.stm

[hoon]

With the cost of crude oil surging to record highs, a heated battle of blame is in full swing. Meanwhile, predictions that we've reached a peak in oil production or will very soon — dismissed only a few years ago as being alarmist and without merit — are receiving more serious consideration.

Why Oil Prices Skyrocketed | LiveScience

[addict]

Peak Oil is an observation that individual oil fields reach maximum production then rapidly deplete. Countries and regions also peak (the U.S. peaked in 1971, Mexico, our largest supplier, peaked last year). Logic says that a finite world must also have peak production. Three years of flat worldwide oil production would lend credence to the world being at peak.

[anony_mus]

Since oil is going up and we are all getting hammered, why not hedge your positions by trading financial instruments that increase with the price of oil. Like the ETF's USO and UNG. A conservative buying the ETF's works or an aggressive approach buy ETF options for those with a greater appetite for risk. It's working or me.

[Rog]

Gordon Brown will call for a "new deal" on energy when he flies into Saudi Arabia to attend a conference.

BBC NEWS | Politics | Brown urging 'new deal' on energy

Attend a conference, whilst asking them to switch the pumps back on.

[sparky]

Hasn't done much in the short-term.

BBC NEWS | Business | Oil price up despite Saudi pledge

Oil prices have risen after emergency talks among the world's top oil powers and leading consuming nations over the weekend ended with no real resolution.

[spot1234]

Up to $140 now. exciting

This bubble just won't pop. Unless its not a bubble?

[seven]

The price of crude oil has surged to a record, almost breaking through $142 a barrel, amid concerns about the ability of producer nations to meet demand.

In London, Brent crude jumped to $141.98 a barrel, while New York light crude climbed as high as $141.71.

BBC NEWS | Business | Oil jumps to record close to $142

[LMagic007]

Report: OPEC president sees oil at $170 this year

Khelil blames Fed, falling dollar, increased demand for surging crude prices

OPEC president reportedly sees oil at $170 this year, blames Fed - MarketWatch

Bring on the electric car ! with more fast charging stations ! We have the technology. Given China's and India's economic growth forecasts, somehow I doubt it's a bubble, yet.

[include]

If electric cars aren't feasible now they never will be!