Oil prices headed toward $125/barrel: Pickens

[Resol]

WASHINGTON (Reuters) - Crude oil prices are still headed upward and could top $125 a barrel in the near-term, legendary oil investor T. Boone Pickens said on Thursday.

"It will go up," said Pickens, who heads the BP Capital hedge fund with over $4 billion under management. "Oil is moving to a substantially higher level -- say above $125 a barrel."


http://www.reuters.com/article/ousiv/idUSN1742688120080417

[penbrat]

I guessing $200 a barrel within a year and I hope I am wrong

[farmgirl]

Ahh for the good ol' days when people scoffed at $100 a barrel oil....like a year ago.

[windtalker]

Think fuel prices are high now just wait another 6 or 12 months......
were talking prices going up to and above 5.00.....6.00......7.50.....10.00.......a gallon.

Check this guy out Lindsey Williams "Energy the Non Crisis" his story sounds kind of crazy but at the same time believable.

If anyone can prove to me that this mans story is a lie, please do but I have a feeling his story is on the up and up. And we should not have to wait very long to see if he is right or not, do any of us see any possible way the upward trend of fuel costs is going to go down?

What he is basically saying is were pretty much doomed as a country and yes he is saying its all by design.:shocked

http://video.aol.com/video-detail/patriot-radio-news-hour-pt-1lindsey-williams-4-to-11-gas/1611238490

[robinhoooood]

You don't need word from the "elite" all you have to understand is that we do not have enough oil to feed future demand... starting now... The IEA has already said between 2009-2012 we are going to be entering into a severe energy crunch... A lot of the worlds biggest fields including Cantarell (2nd largest) , Burgen I believe the 3rd largest in Kuwait... the 4th largest in China... they have all entered into terminal decline... Russia is admitting they have probably hit their peak... and it is only a matter of time until it is obvious Saudi hit their peak as well... energy has no choice but to cost more due to a dwindling supply....

[RememberTheName]

I suppose it's time to buy a bicycle then.

[HisAlways]

You don't need word from the "elite" all you have to understand is that we do not have enough oil to feed future demand... starting now... Oil reserves are plentiful, right in our own country. This is all about making the rich, richer. Period. the 4th largest in China... they have all entered into terminal decline... Russia is admitting they have probably hit their peak... and it is only a matter of time until it is obvious Saudi hit their peak as well... energy has no choice but to cost more due to a dwindling supply.... And.....you believe these countries? China, Russia, Saudi Arabia? Are you kidding me?:hehee

http://www.eia.doe.gov/emeu/international/reserves.html

[Sharon]

Hoping for the 100 mpg vehicle to appear soon - there is a contest that whoever does this will get $25 Million. Carpool under share rides of craiglist may help many.

[Tammy]

All I know is gas went from 3.39 to 3.49 overnight.

[KBKMNN]

Our gas went from $3.17 to $3.35 in just a few days! I topped off my tank today and am going to have to conserve fuel.