Not Good Oil $250/barrel

Predictions of $250 a barrel on fears for oil reserves, hopes of economic recovery and hedging against weak dollar

At $250 per barrel I doubt if many people will be buying fuel and another hit on the economy.

At $250 a barrel, oil producers only need to sell half as much oil to make twice as much profit with todays current production and costs. Producers are getting about $60.00 a barrel wholesale today, the middleman is making $10.00 so you do the math at $250 a barrel. I am sure even a poor economy will still support enough consumption to keep the oil producers going and profitable. Those little tiny fuel efficient Fiat cars will look mighty fine to many people................

Looks like a government conspiracy/plot to keep Chrysler viable......

mtntopper said:

Looks like a government conspiracy/plot to keep Chrysler viable......

Click to expand...

They are only shooting themselves in their foot.

if they don't open up areas feasable for drilling, 250 a barrel will be cheap.we have some leases that are promising up here but unable to do much with them.we also have resources a lot closer to the existing pipeline.i say drill it now...work on wind and solar for later use.....my 2 cents