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Oil Prices, Energy Trends & What Comes Next

Price of oil might drop another 50%

Speaking with Canadian business publication Financial Post, Edwards said, "Prices could spike down to $30, $40. It got down to $35 in 2008, for a very short period of time."

Edwards told Financial Post's Claudia Cattaneo that, "On a given day you can have market fluctuations where prices fluctuate far more than the underlying economic value of the unit," adding that if oil falls to $30 or $40 a barrel he doesn't expect it would stay that low.

"The better question is where does it stabilize, and that $70-$75 area is probably not a bad place to stabilize for a period of time until you get more balance in term of growth in demand and some supply response," Edwards said.

A relevant chart from Wikipedia explains why:

http://upload.wikimedia.org/wikipedia/commons/7/79/US_Crude_Oil_Production_versus_Hubbert_Curve.png

 
Makes me wonder what $40 barrels of oil will do to the development of Williston? Also, Stanley was very smelly as we drove through.
 
Makes me wonder what $40 barrels of oil will do to the development of Williston? Also, Stanley was very smelly as we drove through.
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It would slow production to a halt. The only reason we boomed was because oil was at a all time high. At those prices per barrel they would just cap the wells and everyone would head back down to Texas until the prices rose again. The towns would turn into ghost towns.
 
I really think next year is going to be a changer around here. If you were looking to sell, I think you may had missed the big prices. I think the bubble has popped here.
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Not yet, it's when prices fall dramatically which hasn't happened yet. That's why I'm seriously looking at selling as soon as possible. And will look at other options for real estate for my own place again after.

 
Not yet, it's when prices fall dramatically which hasn't happened yet. That's why I'm seriously looking at selling as soon as possible. And will look at other options for real estate for my own place again after.
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I'm just scared we missed the bus. I mean this last summer you couldn't find a place to purchase in our town. Now with winter among us no one buys right now. But come spring it will be go time and if you are gonna do it you better do it, any later and from everything I keep reading you may miss out on that large profit.
 
I'm just scared we missed the bus. I mean this last summer you couldn't find a place to purchase in our town. Now with winter among us no one buys right now. But come spring it will be go time and if you are gonna do it you better do it, any later and from everything I keep reading you may miss out on that large profit.
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That would be optimal for me if it could wait out until this Spring, but I'm afraid a lot of "scare" will go out before then and people will be very cautious on buying. I don't mind making less than peak, but still would want to come out with a good target sell price on my house.

 
T Boone Pickens was on Mad Money the other night and predicted oil would be back to 100/barrel in 12-18 months.
 
Isn't this his job though? Hype up investors and profit from it?
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You could say that, or you could say that his 50+ years in the oil industry gives him some idea on what will happen. Does anyone here seriously doubt that it won't run up again soon?

 
You could say that, or you could say that his 50+ years in the oil industry gives him some idea on what will happen. Does anyone here seriously doubt that it won't run up again soon?
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Soon no. Maybe by next summer? Maybe. I'm just going by all the reports lately and all the talk. It's like a coming storm, when there are alot of people talking about it, then it usually hits.
 
looks like prices here are ranging from $2.23 - $2.49. Most appear in the $2.3x range. The cheapest prices would require a Costco or Sam's Club membership.
 
It's $2.64 here today and I just filled up which means it will be $2.54 tomorrow. Seems every time I fill up it drops. If I hold out it goes up.
 
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