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mastermariner Champion Author Texas Posts:4,236 Points:491,060 Joined:Jun 2011	Message Posted: Jun 12, 2012 12:00:08 AM Ignore mastermariner Report Abuse Since I first started writing about energy in 2005, I have said many times that my view on oil prices is long-term, and that if I projected five years into the future, I foresaw oil prices being higher than they were in the present. The chart below — using spot prices from the Energy Information Administration (EIA) for both Brent and West Texas Intermediate (WTI) crudes — shows that this has held true since 2001. The annual average price of crude (source is again EIA) rose every year from 2001 ($25.98 for WTI) through 2008 ($99.67), fell back to $61.95 in 2009 (which was still above the price of five years earlier), and then climbed again in 2010 and 2011. Starting from 2001, the average annual five-year increment on price through 2011 was $38.66. In other words, that’s how much WTI Visit OIL Price for full article

mastermariner

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Texas

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Message Posted: Jun 12, 2012 12:00:08 AM

Ignore mastermariner Report Abuse

Since I first started writing about energy in 2005, I have said many times that my view on oil prices is long-term, and that if I projected five years into the future, I foresaw oil prices being higher than they were in the present.

The chart below — using spot prices from the Energy Information Administration (EIA) for both Brent and West Texas Intermediate (WTI) crudes — shows that this has held true since 2001.
The annual average price of crude (source is again EIA) rose every year from 2001 ($25.98 for WTI) through 2008 ($99.67), fell back to $61.95 in 2009 (which was still above the price of five years earlier), and then climbed again in 2010 and 2011.

Starting from 2001, the average annual five-year increment on price through 2011 was $38.66. In other words, that’s how much WTI
Visit OIL Price for full article

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jrs4125 Champion Author Indiana Posts:2,738 Points:587,745 Joined:Sep 2011	Message Posted: Jun 12, 2012 1:12:19 PM Ignore jrs4125 Report Abuse The only way prices will go down and stay down is to reduce demand.
bigmoo63 Champion Author Kalamazoo Posts:1,275 Points:83,105 Joined:Nov 2009	Message Posted: Jun 12, 2012 12:33:12 PM Ignore bigmoo63 Report Abuse More speculation and double speak. Whos pocket is this one in?
crep1291 Champion Author Ottawa Posts:2,576 Points:480,635 Joined:Dec 2010	Message Posted: Jun 12, 2012 10:25:07 AM Ignore crep1291 Report Abuse Oil prices are one thing. Gas prices are another one. Oil is much lower than it was in 2008, yet gas prices are still trading near that level of 2008. BTW, refining margins today are at 18.8c/L (0.71$/gal) for WTI, 10.9c/L (0.41$/gal) for Brent and since mid-west refineries have access to Canadian crude at a substantial discount, their margins are also substantially higher...
Night Owl Champion Author Toronto Posts:7,535 Points:1,783,575 Joined:Jul 2004	Message Posted: Jun 12, 2012 9:41:57 AM Ignore Night Owl Report Abuse Get greedy oil speculators out of the oil market. Let the laws of supply and demand dictate oil prices.
BurntOrange Champion Author Austin Posts:8,702 Points:1,578,855 Joined:Nov 2007	Message Posted: Jun 12, 2012 9:05:25 AM Ignore BurntOrange Report Abuse Then again, they could just stay the same.
JamesCalvin Champion Author Lancaster Posts:3,171 Points:515,780 Joined:Nov 2011	Message Posted: Jun 12, 2012 6:46:32 AM Ignore JamesCalvin Report Abuse Long term is up, Up and away! Mark my words!
kenji554 Champion Author Charlotte Posts:1,216 Points:510,125 Joined:Jun 2011	Message Posted: Jun 12, 2012 6:32:05 AM Ignore kenji554 Report Abuse ok
WalRus49 Champion Author Boston Posts:4,055 Points:864,865 Joined:Nov 2010	Message Posted: Jun 12, 2012 4:26:37 AM Ignore WalRus49 Report Abuse Just more organized mayhem and pillage..............
Rich1430 All-Star Author Indiana Posts:760 Points:254,920 Joined:Mar 2012	Message Posted: Jun 12, 2012 3:07:07 AM Ignore Rich1430 Report Abuse I am not going hold my breath waitng for prices to go down any time soon. They are on a wild rollercoaster ride up the down up then down here. It's sickening.
greywolves Champion Author Las Vegas Posts:8,650 Points:2,424,225 Joined:Dec 2004	Message Posted: Jun 12, 2012 2:04:41 AM Ignore greywolves Report Abuse i seem to have misplaced my ouija board. honey, where are my darts?
comprof Champion Author Houston Posts:6,839 Points:1,352,750 Joined:Jul 2009	Message Posted: Jun 12, 2012 2:04:34 AM Ignore comprof Report Abuse And we have a new speculator speculating about the effect of speculators on gas and oil prices. What is new?
kd5kpd Champion Author Texas Posts:3,716 Points:1,412,725 Joined:Apr 2006	Message Posted: Jun 12, 2012 1:53:44 AM Ignore kd5kpd Report Abuse Another best guess prognostication; aka they dont have a fricking clue what it will do. If you cant dazzle them with brilliance, baffle them with BS!!!
Liefhebber Champion Author Chicago Posts:2,327 Points:363,000 Joined:May 2012	Message Posted: Jun 12, 2012 1:51:21 AM Ignore Liefhebber Report Abuse Sounds like gas could get back to $2/gal. or close.
Jeff4U Champion Author Atlanta Posts:8,728 Points:1,848,370 Joined:Nov 2004	Message Posted: Jun 12, 2012 1:49:02 AM Ignore Jeff4U Report Abuse What else is new? Just hope the major shift is to our advantage for a change.
UseLessGasFolks Champion Author Iowa Posts:5,426 Points:1,291,850 Joined:Jul 2007	Message Posted: Jun 12, 2012 1:47:56 AM Ignore UseLessGasFolks Report Abuse Right - Maybe higher - Maybe lower
LostToo Champion Author Illinois Posts:4,392 Points:975,315 Joined:May 2009	Message Posted: Jun 12, 2012 1:47:41 AM Ignore LostToo Report Abuse There are many things that can happen to a five year forecast. Either people are going to forget what you said right or wrong. You could die and no one would have a chance to call you on your error or Like now nobody cares about five years from now. We care about the here and now. So shut up and keep your opinions to your self if you aren't going to do us some good.
TigerRose Champion Author Illinois Posts:14,886 Points:2,825,400 Joined:Mar 2004	Message Posted: Jun 12, 2012 1:47:26 AM Ignore TigerRose Report Abuse Yet another speculators report
Dodge_Me Champion Author Atlanta Posts:2,214 Points:553,230 Joined:Mar 2006	Message Posted: Jun 12, 2012 1:45:32 AM Ignore Dodge_Me Report Abuse Hmm
themaninthehat Champion Author New Orleans Posts:1,824 Points:472,265 Joined:Feb 2011	Message Posted: Jun 12, 2012 1:41:07 AM Ignore themaninthehat Report Abuse Tonight's weather forecast: DARK! Continued mostly dark tonight followed by widely scattered light in the morning. (George Carlin
JoeKR Champion Author New Jersey Posts:9,453 Points:1,741,970 Joined:Feb 2006	Message Posted: Jun 12, 2012 1:39:49 AM Ignore JoeKR Report Abuse It requires no genius to make such a forecast!
Saunch2012 Veteran Author Pennsylvania Posts:451 Points:110,355 Joined:May 2012	Message Posted: Jun 12, 2012 1:38:52 AM Ignore Saunch2012 Report Abuse ok
Bruno44 Champion Author Texas Posts:7,054 Points:1,764,195 Joined:Sep 2007	Message Posted: Jun 12, 2012 1:37:38 AM Ignore Bruno44 Report Abuse Huhhh?
jferrara41 All-Star Author Pennsylvania Posts:598 Points:110,665 Joined:Apr 2012	Message Posted: Jun 12, 2012 1:31:33 AM Ignore jferrara41 Report Abuse sure
Tigercat88 Champion Author North Carolina Posts:3,177 Points:612,865 Joined:Jul 2011	Message Posted: Jun 12, 2012 1:30:15 AM Ignore Tigercat88 Report Abuse Not worth a comment.
Dragnet Champion Author Arizona Posts:15,390 Points:2,905,735 Joined:Jul 2004	Message Posted: Jun 12, 2012 1:27:02 AM Ignore Dragnet Report Abuse Is this a stupid story or what
pumaMN Champion Author Minnesota Posts:1,543 Points:334,215 Joined:Aug 2011	Message Posted: Jun 12, 2012 1:26:13 AM Ignore pumaMN Report Abuse good
Mustache_33 All-Star Author Toronto Posts:900 Points:181,455 Joined:May 2012	Message Posted: Jun 12, 2012 1:22:23 AM Ignore Mustache_33 Report Abuse k
TRYWI All-Star Author Appleton Posts:898 Points:282,150 Joined:Jan 2012	Message Posted: Jun 12, 2012 1:20:46 AM Ignore TRYWI Report Abuse okay
TBONE3 Champion Author Pennsylvania Posts:8,726 Points:1,972,650 Joined:Mar 2005	Message Posted: Jun 12, 2012 1:19:31 AM Ignore TBONE3 Report Abuse Guess we will just have to wait and see which way the price goes. One thing for sure, the oil companies will not be the looser.
OilOnTheCheap Champion Author Ventura Posts:2,075 Points:446,160 Joined:Jan 2012	Message Posted: Jun 12, 2012 1:19:29 AM Ignore OilOnTheCheap Report Abuse Any relief from high gas prices is temporary.
no8c Champion Author Ohio Posts:2,789 Points:701,075 Joined:Jul 2008	Message Posted: Jun 12, 2012 1:19:06 AM Ignore no8c Report Abuse Thanks for posting!
VetteFan Champion Author Indiana Posts:9,719 Points:2,024,480 Joined:Aug 2005	Message Posted: Jun 12, 2012 1:18:58 AM Ignore VetteFan Report Abuse A continued downward shift would be nice.
willsaveNY Champion Author Albany Posts:1,586 Points:773,990 Joined:Oct 2008	Message Posted: Jun 12, 2012 1:15:10 AM Ignore willsaveNY Report Abuse back to $25 a barrel and all economies will rebound.
Agarre Champion Author Richmond Posts:1,335 Points:263,785 Joined:Feb 2012	Message Posted: Jun 12, 2012 1:11:15 AM Ignore Agarre Report Abuse hopefully
Road-Runner Champion Author Denver Posts:7,041 Points:1,904,090 Joined:May 2004	Message Posted: Jun 12, 2012 1:10:43 AM Ignore Road-Runner Report Abuse The oil industry has had a price bubble ready to burst for years. One of these days the bubble will burst.
roadrunnerMO Champion Author Kansas Posts:8,386 Points:1,695,465 Joined:Jul 2008	Message Posted: Jun 12, 2012 1:10:06 AM Ignore roadrunnerMO Report Abuse Remember that obama wants those higher prices. Time for change. Vote obama out in November.
OWENALOTT Champion Author Appleton Posts:2,182 Points:500,095 Joined:Apr 2011	Message Posted: Jun 12, 2012 1:08:15 AM Ignore OWENALOTT Report Abuse My neighbor lost her job of 16 years making $18hr about 3 months ago. Last week the same company was hiring for that same position for $8hr, no benifits AND they are making record profits. Think about it. CORPORATE GREED!
probedude2 Champion Author Akron Posts:12,533 Points:2,376,205 Joined:Jun 2003	Message Posted: Jun 12, 2012 1:05:14 AM Ignore probedude2 Report Abuse or maybe not
bobdec Champion Author Miami Posts:8,949 Points:1,766,795 Joined:May 2008	Message Posted: Jun 12, 2012 1:04:55 AM Ignore bobdec Report Abuse Gas prices will go much higher within a year
jtfftj Champion Author New Hampshire Posts:2,167 Points:1,244,400 Joined:Sep 2005	Message Posted: Jun 12, 2012 1:04:19 AM Ignore jtfftj Report Abuse Good ole EIA. Shut it down.
Zonk Champion Author Michigan Posts:6,461 Points:2,098,765 Joined:Oct 2005	Message Posted: Jun 12, 2012 1:02:59 AM Ignore Zonk Report Abuse I don't project any big downturn in gas prices.
TIGERPAW46 Champion Author Florida Posts:7,114 Points:1,352,710 Joined:Mar 2004	Message Posted: Jun 12, 2012 1:02:13 AM Ignore TIGERPAW46 Report Abuse I'm sure oil prices will increase again. They always do eventually. When is another story. What I do know is if they go up, gasoline etc will follow & the economy will go down in response. Energy cost rise then cost of everything increases.
gus8441 Champion Author Baltimore Posts:2,094 Points:438,825 Joined:Feb 2012	Message Posted: Jun 12, 2012 1:00:49 AM Ignore gus8441 Report Abuse shocking lol
chuckwthompson Champion Author Charlotte Posts:3,735 Points:573,185 Joined:Sep 2011	Message Posted: Jun 12, 2012 12:59:49 AM Ignore chuckwthompson Report Abuse Is anyone really surprised by this?
Bussman Champion Author Dallas Posts:5,497 Points:1,355,960 Joined:Nov 2008	Message Posted: Jun 12, 2012 12:59:35 AM Ignore Bussman Report Abuse Not newsworthy.
frostyWV Champion Author West Virginia Posts:2,339 Points:519,235 Joined:May 2011	Message Posted: Jun 12, 2012 12:57:09 AM Ignore frostyWV Report Abuse more bad news.
Matt G Champion Author Boston Posts:4,513 Points:2,769,040 Joined:Jun 2004	Message Posted: Jun 12, 2012 12:55:44 AM Ignore Matt G Report Abuse Ok
tsa3333 Rookie Author Michigan Posts:30 Points:110,700 Joined:Apr 2012	Message Posted: Jun 12, 2012 12:55:00 AM Ignore tsa3333 Report Abuse shocker
defiancegasman Champion Author Ohio Posts:7,069 Points:1,321,210 Joined:May 2006	Message Posted: Jun 12, 2012 12:54:42 AM Ignore defiancegasman Report Abuse Too bad they figure a way to keep GAS PRICES HIGH, even when OIL PRICES FALLS!
asog75 All-Star Author Indiana Posts:836 Points:277,980 Joined:Aug 2011	Message Posted: Jun 12, 2012 12:54:34 AM Ignore asog75 Report Abuse well lets see,im ready