Apparently there is an educated suggestions from academics that within 3 years a barrel of oil will cost $350. Just now it's about $110.

Reason - Demand from China and India.

How much do you think it will be in three years?

If Tescos have anything to do with it, it will be the price of a small car.

Bloody Monopolisers........

it might as well go up. Oil is a non renewable (well, unless you count billions of years worth of compression by the earth as renewable) resource. The supply's not going to go up anytime soon.

if economics proves to be half of what it's made out to be, demand will push prices through the roof. Developing countries will eat oil because it is a driving force in those places, much like it was during the industrial revolution in UK and the States.

I'm not much of a number cruncher but oil prices will shoot up unchecked unless there is an increase of production or more supplies found.

p.s - this thread should be shifted to the world affairs section. it seems out of place here

No superpowers here

the funny thing about the price of oil is this... they charge an absolute fortune for oil in it's refined state... i.e petrol or diesel... but... they then charge you for using it too... 'carbon foot print' thing..

what i don't understand is this.. various car companies, have succesfully built hydrogen powered cars... america already has them on the streets, hydrogen is a renewable source, yet we still dont have it available here, meaning that our little island aka the UK - where we have no oil wells still have to pay america or the middle east to ship in their oil..

now comes the fun part ( i think )

Global warming - they say that the polar ice caps are going to melt and the sea level is going to rise by x amount - well guess what water's made of.. Hydrogen and oxygen..anyone else see the logic here? not only is it a clean fuel, it's readily available and it'll be doing us a favour at the same time..

Someone needs to send our current prime minister a cup of coffee because he obviously needs to wake up a bit...


rant over - for now
_________________

mulder83 :

oil is thought to stabalize around the 110.00 sterling price but will spike to 180.0 come november because of us elections and may go to 220.0 in jan due to us iraqi pullout plans,