How high will oil prices go?

In the next year....in the next 5 years...10 years...25 years....100 years?

Although there's a lot of oil left in the world, and we agree that there's roughly 900 to 1,000 gigabarrels of oil left in the world, you need to put that in context. Up until the Carter years, every decade, we used as much oil as had been used in all of previous history. Now, with exponential growth, if you're at about a 7 percent growth rate, and we were using oil at about 7 percent more per year, the world was, that explains how we got on that curve. Now, the fact that we have about half of all the oil that was ever in the world still there, doesn't mean that the next 50 years, 100 years are going to be like the last 50 years, 100 years, because the world is now demanding a whole lot more oil. Last year, China increased their use probably 25 percent. In less than three years, that doubles their use of oil. They probably won't continue on that growth path, but India's increasing. China's now the No. 2 importer in the world. What are the consequences of this? Boy, economic and geopolitical. When the world recognizes that there's only so much oil that can be produced, and we need more oil -- by the way, if our economy doesn't grow at least 2 percent a year, we can't service our debt. And if we don't think the economy's growing at 2 percent a year, the stock market starts tanking. You know, we have to get used to the fact that there is not going to be oil in the quantities there have been in the past available in the future, and we should have started a long time ago, 'cause we knew -- the world knew -- by at least 1980, that M. King Hubbert was right about our country. If he's right about the United States, why shouldn't he be right about the world? And we should have been doing some things that we've now blown 25 years, that we could have been doing some very meaningful things to prepare for this time when the world reaches its peak ability to produce oil. We didn't do those things then. We really need to start doing them now.

It will go as high as the amount nations are willing to pay. If countries would band together, they have the power to force the oil producing nations into lowering prices, but this isn't going to happen, because there is too much dissension and animosity between nations.

I suggest you to buy a used Volkswagen with a Diesel Engine if you want to Oil Prices to go down.

Having all the oil consuming nations band together and try to get the price lowered won't work. The only way the price will go down would be for everyone to agree to not buy oil. Without oil all the consumer nations would go into recession and then you have a real mess.

We need to cut back on our oil consumption, use more renewable sources and build a LOT of nuclear power plants. France essentially generates all of it electric power with nuclear power plants.

Considering that we have just crossed the half way point in the middle east supply meaning that we have used have of the oil ot of those fields already

If u think regular fuel is expensive how much do u think jet fuel has gone up or will go up for the fighter planes to operate...

100 years from now oil will be VERY VERY expensive as the world will have moved on from the fossil fuels into more scientific types of energy so less demand equals highr prices in this scenario

$25 million MUHAHAHAHA!

I win because my birthday is today

they said this summer we're going to pay an estimate of 4 to 5 dollars a gal. no lies!

We'll be paying like 10 bucks in 10 yrs I am sure. That'll mostly just be the economy rising though. But minimum wage will be like 10 bucks too

Get out your crystal ball and invest in futures

How ever high the GOVERMENT will let them go.

Your question is ridiculous. What a waste of time, not only to read your question, but to answer it.!!

Please, you should utilize your privilege of asking question with a little of common sense.

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