Is $100 oil around the corner

I hope so... This is really a mess.

I would love to see lower gas prices - I agree that this will help with public perception (and disposable income), and should help us begin to turn around.

The gas prices will likely lower soon, so that companies can sell all the SUVs they cannot give away right now :)

Tracey

Right!  Get your SUV quick!  Just the threat of off shore drilling caused the speculators to bail.  Maybe these speculators should be brough before congress for losing a lot of money this week.

Mike,  I have heard experts suggest that a fair price for oil should be around $70 per barrel.  That gives a lot of room for it go lower.  I only hope people don't forget about $4.00 gas once the rices drop to an affordable rate.  I like the idea of 85% of vehicles being none petroleum based.

Mike, my opinion is the speculators have made their money and are gone. In addition, to the producing countries, they release once America put their minds to something we will make it happen. So the talk of alternative fuel will come to the forefront and hopefully be develop. I would like to run everything on Water; some thing those people don't have like food could and should be our major export. Now lets pay play.  I agree with the comment as well that it will bring confidence back into this market.

That would ease pressure on people a little.  Hope it happens.

Prices at the pump have been steadily falling, which is Great news for all of us out there that use our cars for a living.  We all knew that prices would fall as the summer passed on, and they have.  I guess nobody is gonna give any credit to the government for reigining in the prces...but thats ok as long as the prices continue to fall. 

Oil should be trading around $65 /barrel and probably as we near election day we will see it get near that level again. Makes you wonder if politics has more to do eith it than any other factor.

It is very good news!.  Who would have thought we would be excited to be this much for gas?  Hopefully it will have a good impact on grocery prices.

Hey, Mike. We can only hope that everything else follows suit. Thanks, Jim

I don't care if it hits $50 a barrel - we still need to drill and have our own supply and alternatives so we are not at the mercy of loony speculators, crazy dictators and maniacal terrorist's states!

Mike - That is really good news.  I hope that we start drilling our own oil and drive it down even further.  Thanks for the update!  :)

Mike - I think we need to drill and of course we need to look at the rest. One of the biggest things we could do would be to power the nation with nuclear and use the oil for transportation.

Congress is out by the pool for 5 weeks!

They complained about the Alaskan pipeline back in the day.  They said the disruption and construction would disrupt the wildlife.  When all was said and done the animals huddled around the pipe for warmth!  LOL   DRILL!

Mike - that would be great. I see it stabilizing in that range maybe a little higher - $95-$105, $100 - $110.

Saw an interview with the CEO of NAT (an oil tanker/transportation company) and he is certainly not expecting an decrease in demand but perhaps a slowing. While the U.S. consumption is down, world consumption is still growing, especially in China and India, albeit at a slower rate than recently.