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Daradon · 10-03-2008, 09:14 AM

I don't really see oil going down to 50 dollars per barrel either. The world demand is far too high. Even if north america cuts it's usage (which is unlikely) you have to remember that China is growing like crazy in their industrial sector and will continue increasing their demand for quite a while.

I believe we'll see a new high next summer. Not increases as big as we've seen over the past few years, but I doubt the price is going to level off or drop (on a yearly basis) any time in near future.

For the sake of the argument, if oil DID drop that much that quickly I'm sure you'd see a HUGE slowdown in the oil and gas sector, layoffs in nearly every oil and gas company big and small, and a slowdown in the Albertan and Canadian economies as well.

10-03-2008, 09:14 AM	#7
Daradon Has lived the dream! Join Date: Apr 2004 Location: Where I lay my head is home... Exp:	I don't really see oil going down to 50 dollars per barrel either. The world demand is far too high. Even if north america cuts it's usage (which is unlikely) you have to remember that China is growing like crazy in their industrial sector and will continue increasing their demand for quite a while. I believe we'll see a new high next summer. Not increases as big as we've seen over the past few years, but I doubt the price is going to level off or drop (on a yearly basis) any time in near future. For the sake of the argument, if oil DID drop that much that quickly I'm sure you'd see a HUGE slowdown in the oil and gas sector, layoffs in nearly every oil and gas company big and small, and a slowdown in the Albertan and Canadian economies as well.