Quote:
Originally Posted by Pooka
By the way...
Spot price is currently $97 a bbl. That is if you need oil today.
The future price of oil is right at $85 a bbl and it drops off quite a bit after that.
This is because in the future Brazil will come on-line with a new field at the mouth of the Amazon that some folks think will crash the price of oil.
Trick stuff, but it all points to a great outlook for anyone who loves to drive!
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Back during the last run up in price (3 years ago?) I recall reading an interview with a Saudi prince or king and he said oil should currently (then) be, as you say, $85 per barrel. At the time, iirc, it was around $105 maybe?
