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GasBuddy News Article

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Why we’ll never see a $20 barrel of oil again

The Globe and Mail -- The commodity super-cycle – in which commodity prices reach ever-higher highs, and fall only to higher lows – isn’t over. Despite the euphoria around shale gas – indeed, despite weak global growth – commodity prices have risen by as much as 150 per cent in the aftermath of the financial crisis. In the medium term, this trend will continue to pose an inflation risk and undermine living standards worldwide.

For starters, there’s the convergence argument. As China grows, its increasing wealth and urbanization will continue to stoke demand for energy, grains, minerals and other resources. The U.S., for example, consumes more than nine times as much oil as China on a per capita basis. As more of China’s population converges to Western standards of consumption, demand for commodities – and thus


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Submitted Mar 18, 2013 By: Nicoalbum
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Author Topic: Why we’ll never see a $20 barrel of oil again Back to Topics
REPLIES (newest first) Post a Reply
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goldseeker
Champion Author West Virginia

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Message Posted: Mar 19, 2013 2:47:38 AM

You will not likely see $40 per barrel either.
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tomok
Champion Author Portland

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Message Posted: Mar 19, 2013 2:43:45 AM

Why we’ll never see a $20 barrel of oil again? It all depends on how much money Big Oil is allowed to keep by the government in power. Big Oil has overhead and expenses but other countries and/or governments do not allow Big Oil to rape the consumers like the US does! Big Oil can set the prices at the pump by producing less fuel from the refineries and manipulate the fuel prices any which way but loose. For this country, we will never see $20 dollars a barrel again and will be much more likely at eighty dollars a barrel and up.
Drive vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money.
The price of fuel at the pump is too high!
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rwsb30
All-Star Author Dayton

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Message Posted: Mar 19, 2013 1:26:41 AM

And I can remember when you could buy a new Chevrolet for $1600...I couldnt afford it I only made $1.25 per hour...

A new Jaguar only cost 3 grand but beer was 25 cents any place in town...Just goes to show ya.
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billy44bo
Champion Author Mobile

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Message Posted: Mar 19, 2013 1:18:33 AM

Have you seen pictures from China? In twenty years or so most of them will be down with lung cancer. Bottom line is that GREED runs the oil market.
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Bruno44
Champion Author Texas

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Message Posted: Mar 19, 2013 1:17:17 AM

Good point by granitestater.
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wshokie12
Champion Author Winston-Salem

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Message Posted: Mar 19, 2013 1:14:41 AM

Of course.
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ILVET
Champion Author Illinois

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Message Posted: Mar 19, 2013 1:13:43 AM

A politician is a fellow who will lay down your life for his country. ~ Texas Guinan
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RENEGADEGAS
Champion Author Missouri

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Message Posted: Mar 19, 2013 1:12:41 AM

granitestater ... very well said! I couldnt agree more.
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musicreporter
All-Star Author San Antonio

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Message Posted: Mar 19, 2013 1:10:13 AM

ok
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TBONE3
Champion Author Pennsylvania

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Message Posted: Mar 19, 2013 1:10:00 AM

The statement is right on BUT many other products will do the same.
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musicreporter
All-Star Author San Antonio

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Message Posted: Mar 19, 2013 1:08:45 AM

ok
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Pmgr
All-Star Author San Antonio

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Message Posted: Mar 19, 2013 1:05:19 AM

ok
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Pmgr
All-Star Author San Antonio

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Message Posted: Mar 19, 2013 1:04:56 AM

yes
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BigBearHug
Champion Author Amarillo

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Message Posted: Mar 19, 2013 1:04:19 AM

greed by any other color
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greshams
Champion Author Cincinnati

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Message Posted: Mar 19, 2013 1:02:40 AM

greed will destroy the oil business, then a barrel of will worthless.

[Edited by: greshams at 3/19/2013 1:03:16 AM EST]
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Z51Corvette
Champion Author Austin

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Message Posted: Mar 19, 2013 1:00:18 AM

It's all due to GREED!!! lol!
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mcbrownie220
Sophomore Author Toledo

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Message Posted: Mar 19, 2013 12:59:42 AM

ok
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Z51Corvette
Champion Author Austin

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Message Posted: Mar 19, 2013 12:59:32 AM

so positive
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sjhman
Veteran Author Atlanta

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Message Posted: Mar 19, 2013 12:59:15 AM

yikes
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unicornpmb
Champion Author Buffalo

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Message Posted: Mar 19, 2013 12:58:36 AM

Pipe dream.
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DrGasPain
All-Star Author Dallas

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Message Posted: Mar 19, 2013 12:56:37 AM

Duh!
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Doomsday64
All-Star Author Austin

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Message Posted: Mar 19, 2013 12:55:53 AM

ok
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Cableman66
Champion Author North Carolina

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Message Posted: Mar 19, 2013 12:55:52 AM

Old news.
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Buddy2264
Champion Author Tampa

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Message Posted: Mar 19, 2013 12:52:12 AM

Not as long as oil is the primary fuel for gasoline.
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F34RL3SSNIT3
Veteran Author Austin

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Message Posted: Mar 19, 2013 12:52:01 AM

ok
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quasar502
Champion Author Lansing

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Message Posted: Mar 19, 2013 12:49:20 AM

There's a large world population playing catch up right now. Fuel IS in demand.
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boatfloyd
Champion Author Jacksonville

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Message Posted: Mar 19, 2013 12:48:56 AM

Very True. Inflation.
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granitestater
Champion Author New Hampshire

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Message Posted: Mar 19, 2013 12:46:20 AM

Oil is the cheapest fuel. Along with coal, natgas and any other fossil fuel. Alternative or "green" fuels are way more expensive than any fossil fuel.
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rosyLI
Champion Author Long Island

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Message Posted: Mar 19, 2013 12:46:12 AM

I agree, $20 a barrel is history.
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granitestater
Champion Author New Hampshire

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Message Posted: Mar 19, 2013 12:43:52 AM

Four times our population at our rate of consumption will drain the planet of oil...

[Edited by: granitestater at 3/19/2013 12:44:40 AM EST]
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Packman3231
All-Star Author Oregon

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Message Posted: Mar 19, 2013 12:43:30 AM

one can only hope for cheaper fuel to be developed which will solve the problems of oil usage.
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sehonda
Champion Author Honolulu

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Message Posted: Mar 19, 2013 12:41:09 AM

alternative energy will lessen demand in the future
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danreino
Champion Author Twin Cities

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Message Posted: Mar 19, 2013 12:36:43 AM

I know a famous Kenyan that promised: "under My Leadership, your energy costs will skyrocket".....At least he wasn't lying huh...
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10k
Champion Author North Carolina

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Message Posted: Mar 19, 2013 12:34:36 AM

when i stopped being a weekend pizzadude in the summer of 2004, it cost $17-$18 to fill the 15.5 gallon tank on my grand prix..now my car laughs at $17-$18 worth of gas..
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madison8359
Champion Author Cleveland

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Message Posted: Mar 19, 2013 12:34:02 AM

We don't care just give us the oil.
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RussianAnya
All-Star Author Dallas

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Message Posted: Mar 19, 2013 12:33:27 AM

Ok
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sjambok
Champion Author Nashville

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Message Posted: Mar 19, 2013 12:33:14 AM

...one day later... "a Barrel of Oil might hit $20 again". No one in this economy knows which way is up or down. The reason it might hit that low again is when this country ends up in another Depression.
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RussianAnya
All-Star Author Dallas

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Message Posted: Mar 19, 2013 12:33:13 AM

Ok
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RussianAnya
All-Star Author Dallas

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Joined:Jan 2013
Message Posted: Mar 19, 2013 12:33:02 AM

Ok
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RussianAnya
All-Star Author Dallas

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Message Posted: Mar 19, 2013 12:32:46 AM

Ok
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RussianAnya
All-Star Author Dallas

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Message Posted: Mar 19, 2013 12:32:31 AM

Ok
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DanMtz
Champion Author Oakland

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Message Posted: Mar 19, 2013 12:32:23 AM

Worldwide demand will never be as low as it used to be.
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NoGas714
All-Star Author Indiana

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Message Posted: Mar 19, 2013 12:32:21 AM

Well duh!
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Packman3231
All-Star Author Oregon

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Message Posted: Mar 19, 2013 12:32:00 AM

Nice to think about, but with the reasons mentioned in the artical it will not probably happen. In addition to the economic disruption, world pollution is going to be a problem with the increased use of petroleum.
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HEBster
Champion Author Kentucky

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Message Posted: Mar 19, 2013 12:30:34 AM

Not gonna happen1
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vulcan96
Champion Author Ohio

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Message Posted: Mar 19, 2013 12:28:35 AM

hang the manipulators out to dry.
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bridgerunner
Champion Author Virginia

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Message Posted: Mar 19, 2013 12:28:20 AM

We may not see it, but not for the reasons the article states.
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gsayeg1
Champion Author Milwaukee

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Message Posted: Mar 19, 2013 12:27:35 AM

I remember the ole days .19 a gallon in NJ
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JasTheAce
Champion Author Raleigh

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Message Posted: Mar 19, 2013 12:27:10 AM

yes we will
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FlyNFool
Champion Author South Carolina

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Message Posted: Mar 19, 2013 12:26:58 AM

Barry Sotero?
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