What are your predictions for the price of oil for 2007 and for 2008

[Bandit]

I predict oil going to $110 per barrel by the end of '07 and reaching $150. by end of 2008. I may be low on both counts. Some of my reasoning is the Canadian dollar has gained ten percent on the American dollar in just the last month. That means that anything we buy from Canada is going to cost at least ten percent more and we buy a quite large portion of our oil from Canada. When our dollar is worth less it buys less. Next Venezuela is beginning to switch where it is selling it's oil. The USA used to be it's largest buyer of oil. It is planning to change that and begin selling oil to China and India, both of which are becoming large players in the oil purchasing dept. China is threatening to liquidate American dollars because they are losing too much money trying to prop them up. When the doller is worth less it buys less which means the price effectivly goes up. IMO this will create a perfect storm against those in Government which have created this through policy decisions. Everything we purchase in America and I mean EVERYTHING is dependent upon transportation costs. We are in for a world of hurt while the Bush* Billionaires laugh themselves all the way to the bank....

[soothsayer]

1. One reason oil prices are going up now is because the dollar isn't worth as much,

so it takes more dollars to buy it. So...as long as the dollar continues to fall, and the petrodollar is still the currency of choice, the price of oil is gonna' keep soaring!

[Mika]

2. Trying to predict how much damage BushCheneyCrimeInc can do is a tall order.

[MNDemNY]

3. $120 by the end of December.Mark it.

[AndyA]

4. I think if the price of oil continues to escalate, Bushco will have to do something about it.

If the price of oil keeps going up, so will everything else that depends on oil in any way. This will slow the economy dramatically, and with the housing industry already in a slump, which is dragging down the financial industry, Bushco won't want the retail sector to be hit hard, and he will have to do something to stop the drop in the stock market, which is also fueled by the high cost of oil.

If he doesn't want a full-fledged recession on his hands (shades of dear Daddy!), and upset his peers because their stocks are falling, he'll have to do something.

*WHAT* this is, who knows. Perhaps divert attention from this problem to a war in Iran? :shrug:

[liberal N proud]

5. They will never do anything to provide comfort from the cost of oil

Not unless business says something has to be done because no one is spending money.

[Javaman]

6. Higher and Higher, baby! it's a living thing...nt

[Neshanic]

7. Gas wise, not by the barrel, but 4.25 before Memorial Day and 5.00 all summer 08.

[ladjf]

8. The skyrocketing oil prices will ultimately serve to accelerate

that development of alternate energy technologies. The oil companies will literally price themselves out of business.

Fire away oil company flamers. I'm insulated from your crap.

[Fire Walk With Me]

9. I don't know about oil, but the economy looks to keep going down.

And then further down.

[ThomWV]

10. $75~$80 Range