Oil companies say price 'could soon reach $100' again

There's no "money" (in the broadest sense) out there to drive it up! And with the price falling like this who would risk their butt holding onto anything too long in this market!

As of today, it fell below $56/Barrel of light sweet crude.

C'mon America- it's time to decrease our dependence on foreign oil. Increase drilling at home, while promoting hybrid and electric cars. Try to find a more common, pure fuel, such as grass clippings (which are being used in some cases) or vegetable oil (fast food companies have tons)!!

ABOVE ALL, OIL PRICES ARE CONTROLLED BY SPECULATORS. and then by oil-extraction cartels, and then by these companies themselves, and then by the gas station owners themselves.

a lot of oil is already extracted sitting above ground, and then the price magically goes up and down. it has nothing to do with labor being contributed to it and everything to do with speculation... and arbitrary greed.

Bring protection to the pumps folks, were gonna get raped again...

If destructive oil companies can raise the prices, then that could only mean that more green companies will arise to those can not afford the gas prices...the green revolution come, and defeat the oil companies once and for all...Obama can surely participate in such a battle over the energy crisis....

They've bent us over the oil barrel before and done their thing. Shitty, very shitty, but not new.

The list of items that have some fraction of oil in them is vast. The very keyboard I using now probably has some oil in it's DNA. I am still a drill here, drill now type of person. I don't want to see the automakers fail not because of the cars but b/c of the workers. Cars of the future will have less parts and thus easier to make. Reducing the need for so many car plants. On the other hand. I want a car that gets 100 miles to the gallon. I don't care if you plug it in or go to a station of some sort. Just make it happen. Oil companies have lost their minds. When your making a billion dollars a quarter oil should be 50 bucks a barrell and they know it.

Oil my ass
Listen we need another Bubble to take us out this recession
The green bubble can do what the dot com, oil, housing, etc have done. Create instant wealth for individual investors and pension funds. This is the quickest way I see out of this global economic disaster.

I mean Opec won't like it. But do we really care. Other than oil these are some corrupt, backwards, pointless nations.

We need a green bubble. Sure it has to burst eventually. But it'll lift us up in the near term. Punk OPEC and start a global trend

Even after we fell flat on our face for nearly a decade. The united states still runs the world. We are still the model. If we start, china will follow. They can't come up with anything on their own. But they can perfect anything.

While Obama has been handed a long list of crises to diffuse, I hope a shift to renewable fuels will be his top priority. Less influence from foreign cartels means more control over our own social, political, and economic development. More resources from home means increased job growth and a chance at sustainability. Seems simple enough.

Obama needs to Move towards more green energy and create policies that will force Automakers around the globe to move away from the need of fossil fuels. Obama should look into hiring Al Gore as an Energy Advisor, and implement such policies immediately to resolve this energy crisis.

How many of you have read the Pickens Plan, check this out,
http://current.com/items/89523903/pickens_plan_yes_or_no_tell_us_why.htm

The Oil Cabal needs to be stopped. How? Curious Engineers will have to independently invent another type of engine.

We cannot trust the the advertisements of these oil companies and automakers making us believe that they are working on something. BS. The only thing they came up with that's workable is the hybrid engine and this still isn't enough.

Toughest part is the uphill battle against these giants who will do everything in their power to protect their interests.

They'd sure love to say their product is going up in value. Get that speculation bubble pumping again.

Electric Cars are an answer, getting electricity totally green is another step. Check out Phoenix Motors. They have a battery system that goes over 100 miles per charge and an expensive option ($100,000) recharge device that recharges a car in 10 minutes! The idea is to get fleets the device and of course a fleet of cars. Great for the post office!

They're blaming this on lack of investments? How bout using a little bit of that 11 billion dollars in profits they've made in the last 3 months...

the recent decline in prices is only because they fear that if they continued with the $4 a gallon gas that people would actually start acting on their alternative energy ideas. the lowered the price because demand was down, Americans cut back on their driving, and there became real interest in alternative energy. every time the price goes back down, the talk about alternative energy seems to lose steam, and before you know it the price is higher than ever.

Many of the oil producing nations like Venuzuela need to get around $90/barrel to support all the things their government pay for. Not sure but I think Saudi Arabia needs at least $70/barrel. So the $100/barrel prediction seems real to me. They will simply cut the supply until the price begins to rise. The days of cheap oil are gone no matter what is happening to the economy. All the more reason to push very hard for renewable energy. Luckily we will soon be gettting some sane leadership from Washington.

I dont believe enough people are actually educated on what oil really is---- fossil fuel, that means NON-renewable energy! I feel guilty that i have to even buy a quart or get my oil changed. I despise this shit but i have to have it to make it to work and get around, just like 99% of the world.

When oil was first discovered and mined, people back then drank it for stomach aches, put it on saddle sores and dumped it on their heads cuz they thought it cured dandruff!! Instead of molasses, burly women with 11 kids were probably making them all eat a spoonful of it a day "itll make ur coat shiny Jethro!!!!!"

Isn't it about time to leave this old discovery behind and evolve witht he world before it gets us in so much trouble that we destroy eachother? If anybody finds info on how to convert a regular car to something else, CONTACT ME PLEASE!!!!

Gotta love the energy industry,
"We are also privy to phone conversations between Enron's traders as they gloat about bilking Californians to the tune of billions during the state's energy crisis, which was, ironically, the result of deregulation. In one exchange, we listen as a trader tells a plant manager to find a pretext for shutting down his power station in order to reduce artificially the state's energy supply, resulting in skyrocketing costs for consumers. Giddy at the prospects of cashing their ill-gotten bonuses, the traders evince no sympathy for customers enduring hardships, particularly those who are sick, elderly, and poor."

This is shit! If they can afford to keep those prices down for election, shouldn't they be able to all the time? It's unnerving how greedy these people are...

This is a concerted effort by the oil companies to offset the losses they will sustain by Obamas promise of oil independence. This is a calculated move.

And we call anti-war supporters anti-American...

I say we move ahead with oil independence, the faster the better, and put this scum out of business as soon as possible.

The price of oil is dictated by demand. The middle East is hurting economically due to the sharp decline in demand for oil. If we would stop guzzling gas like we do water, then we can stave off this rise in cost.

Funny that AlJazeera is giving good news about oil to the Middle East.

Propaganda at its best!

Oil is controlled by a cartel. The only way to deal with a cartel is to remove dependence on it. Get another oil/energy source.

There is NO good reason for oil to go up at this point. Tired of the quotas that need to be upheld after a
Q1 jump in profits. There is no loss in profits if you had a surplus the Q before.

Time to tell them where to go, shed the car and buy into renewal resources.

My wife & I are fortunate in that we truly don't need a car anymore, but we now depend on a transit system that did not have the insight to assume metropolitan growth, it's as if the whole transportation industry is accidentally cajouling.

this recession is simply a short period to catch our breaths. if we don't do anything about our energy consumption, we've got major problems coming. I'm in the search for a new car, but I'm holding out and waiting for alternative fuels. I'll drive my car until that time.

BTW, f--- the oil companies and their crooked ways. I'm surprised we're so strict about monopolies and having fair pricing and what-not, yet we allow these f-kers to "set" prices? How is this not price fixing? Oh... it's supply fixing... BS! I guess our government folks haven't taken basic economics.

The thing with these lower gas prices is that more people have been driving as a result, and more often. Maybe a rise in gas prices will remind people to invest in clean, green, and more price-stable technology.

I hope in the near future oil company's don't ask for a bail out too because of better green cars.

Surprised? should not be.Oil prices are played with all the time. Don't even get me started on this subject. It's all a game. There should not ever be a reason to raise prices to start with. When is the heads of government going to get the idea we can depend on ourselves. You will see the prices soar because the holidays are coming on and the rich want to get richer and they want to take any extra money we have , if there is extra money to be had. Oh well, it's just a game to them and we are the game pecies.

Of course it's going to go up again, the elections are over!