Crude oil $50 USD a barrel by end 2006?

Bill M · 17-06-2006, 07:54 PM

I heard this on ABC radio last night so it is not all doom and gloom on oil prices.

http://www.abc.net.au/pm/content/2006/s1665120.htm

Cheers
Bill.

jabba · 17-06-2006, 08:05 PM

You think that's is good. I had a work mate send me a Email this morning.. He has just landed in Dubai.... Petrol is 10c per ltr...... Just imagine only paying 10c ltr....

MO · 17-06-2006, 08:20 PM

Lets hope it drops even more in 2007.

Although I believe it was also said on Aunty that the price would halve in 5yrs.

**Professor Farnsworth** · 17-06-2006, 08:27 PM

Quote:

Originally Posted by jabba

You think that's is good. I had a work mate send me a Email this morning.. He has just landed in Dubai.... Petrol is 10c per ltr...... Just imagine only paying 10c ltr....

wow that is good - was 12c a few weeks ago

(seriously)

makes you understand why they hurtle across the desert in 450sl's etc

stevz · 17-06-2006, 08:36 PM

This is all speculation...I'll believe it when I see it.

mik · 17-06-2006, 08:38 PM

good too hear it might come back too a dollar a litre.

MO · 17-06-2006, 08:39 PM

Quote:

Originally Posted by stevz

This is all speculation...I'll believe it when I see it.

Maybe....but lets hope!

Lukeyson · 17-06-2006, 09:10 PM

wonder what excuse the NSW govt will have for still expecting $1.30+ per litre if that does happen

JPFS1 · 17-06-2006, 11:44 PM

very simplistic article that hardly touches on the reality of world commodity prices. Wouldn't be expecting to see those projected figures for quite some time.

NA XR6 · 17-06-2006, 11:50 PM

Never go down under 1.20 ever again

Paull · 18-06-2006, 12:40 AM

I think you are all living in dream land fellas. Have a look at any graph from the 1970's onwards and there is only one real trend direction - up.

Yes, it may dip but it always continues to rise. Also, when do you see the price of homes in the major cities drop off continually - like never.

I think now that people have gotten use to the current price (as best as I could put it), prices will not dramatically drop off. Don't forget, both the US and China are heading into their winters so oil prices will go up again.

If anything, I think we will see the more wide spread usage of alternative fuels but fuel as we know it wont become cheap mainly because the alternatives will then have lesser an attraction. Don't forget that the greenies want to see triple the price of fuel so as to ensure more bio-fuels are used as well as more public transport and also more 'green' methods of power generation.

Paul

ltd · 18-06-2006, 01:07 AM

Definately a balancing act.

On one hand OPEC are enjoying the immense profits made campared to when it was around 12 dollars a barrel in 1999; however a 600% price increase in the past 6 years has only served to hasten the requirement for newer, alternative fuels. If high oil prices continue and investments aimed at lowering the price do not come to fruition soon then the world will move on without oil.
If we had a fuel that would replace petrol and end the worlds reliance upon crude oil, the middle eastern countries would have nothing to trade with. This would be disastrous for them. OPEC would only have a very limited customer base who would soon opt for the cheaper, greener fuel.

Plastics prices would probably go through the roof as oil marches towards US$500/barrel but we would all have cheaper fuel.

Tickford Kid · 18-06-2006, 08:58 AM

Paid $1.54 a litre yesterday for BP Utimate.

GT-E · 18-06-2006, 09:48 AM

I doubt you will ever see petrol under $1 p/l as the arabs like the prices where they are.
The will continue to fund the terrorists to blow up oil pipelines (not theirs) and cause disruption in oil producing countries to ensure there is a high demand and that prices keep going up.
We should just nuke the middle east and do some horozontal drilling into their supplies.
It really makes me angry the way our economies are dependent on rich ragheads

Matty4 · 18-06-2006, 10:30 AM

Got my first ever fill over $100 yesterday. 72.5 litres @ 141.9cpl = $102.something.
Thank God for fuel cards!!!!!

Scott · 18-06-2006, 10:49 AM

Quote:

Originally Posted by jabba

You think that's is good. I had a work mate send me a Email this morning.. He has just landed in Dubai.... Petrol is 10c per ltr...... Just imagine only paying 10c ltr....

You'd need it with the average wage over there!

AnthonyQLD · 18-06-2006, 10:54 AM

Quote:

Originally Posted by Matty4

Thank God for fuel cards!!!!!

You can say that again.

:

Jason[98.EL] · 18-06-2006, 11:33 AM

i think we all just have to wait and see if it does what they are saying will come true

but the way i look at the concumption of cars is buy what you can afford to run

i personally think that its the peoples own problem or mistake if they purchased a V8 and cant afford to run it

i drive a 4.0 ltr falcon and im looking at a V8 to purchase soon as a second car

jason

jabba · 18-06-2006, 11:39 AM

How about the use of water for fuel..... Have a look at this??????

Water Fuel

The G6ET Spot · 18-06-2006, 11:49 AM

Quote:

Originally Posted by jabba

How about the use of water for fuel..... Have a look at this??????

Water Fuel

So when do we start paying a dollar a litre for water. Oh hang on we already do in shops.

**Kingsley** · 18-06-2006, 12:00 PM

The price per barrel may fall, but it's up to the various bodies who set the price on fuel, how far they're willing to go down. With exception of the service station proprieters, a number of those interests are making good money, they're not going to be overly keen to pass any savings on to us. Watch how long it takes and how many excuses they'll use to keep it the prices up there.

red_hotxr6 · 18-06-2006, 01:01 PM

Before the queen,s birthday weekend the govt warned the oil companies not to raise the price of petrol for the holiday period. It went to $ 1.35. On the tuesday it went down to $1.24. Absolutely nothing was said or done about it .Toothless.

Disco1986 · 18-06-2006, 01:27 PM

i think you will find the news pappers and radio people make these claims and again and again they turn out to be untrue, all it does is less new papers and fill in a little space on a page

T3ts50 · 18-06-2006, 02:38 PM

Quote:

Originally Posted by ZapXR6T

I doubt you will ever see petrol under $1 p/l as the arabs like the prices where they are.
The will continue to fund the terrorists to blow up oil pipelines (not theirs) and cause disruption in oil producing countries to ensure there is a high demand and that prices keep going up.
We should just nuke the middle east and do some horozontal drilling into their supplies.
It really makes me angry the way our economies are dependent on rich ragheads

This has got to be the dumbest response I have read on this forum.

mcflux · 18-06-2006, 07:09 PM

Quote:

Originally Posted by T3ts50

This has got to be the dumbest response I have read on this forum.

That's a pretty big call!

:

jabba · 18-06-2006, 08:25 PM

Quote:

Originally Posted by ZapXR6T

I doubt you will ever see petrol under $1 p/l as the arabs like the prices where they are.
The will continue to fund the terrorists to blow up oil pipelines (not theirs) and cause disruption in oil producing countries to ensure there is a high demand and that prices keep going up.
We should just nuke the middle east and do some horozontal drilling into their supplies.
It really makes me angry the way our economies are dependent on rich ragheads

I read in the Australian news paper that Arabs are not making as much money now, as they were when the oil was under $50 a barrel... Reason being tha more oil was consumed.....

I do't know if that is true or propaganda, but for myself I know I have cut down the amount of driving that I do... I now even car pool when I am working in Brisbane, and because of that my fuel cost is well under what it use to be....

TZENU · 18-06-2006, 08:29 PM

The question from the oil producing country's is:
Why should we lower our price on a world wide commodity that brings in the $$$$?

EBII Fairmont · 18-06-2006, 08:36 PM

It is also the petrol company's who play a major role with regards to the price of petrol.

But with all these petrol discount vouchers, i hope it doesn't knock out all the competitors, since a lot of people fill up with shell or safeway.

Also, is it just me, but it feels like Mobil have closed down quite a few servo's in the last year or so.

Sourbastard · 18-06-2006, 08:41 PM

Quote:

Originally Posted by TZENU

The question from the oil producing country's is:
Why should we lower our price on a world wide commodity that brings in the $$$$?

They can milk for as long and for as much as they can. I wonder what will happen though when a viable alternative is eventually created. I can see the middle east returning to the dark ages when the money and political clout dries up.

Sourbastard · 18-06-2006, 08:42 PM

Quote:

Originally Posted by EBII Fairmont

It is also the petrol company's who play a major role with regards to the price of petrol.

But with all these petrol discount vouchers, i hope it doesn't knock out all the competitors, since a lot of people fill up with shell or safeway.

Also, is it just me, but it feels like Mobil have closed down quite a few servo's in the last year or so.

Mobil are leaving the australian retail market I believe.