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pipspeak said:
The folks who forecast $150-$200 oil last year are now forecasting average $45 oil for 2009. Made me happier!

http://www.guardian.co.uk/business/2008/dec/12/oil-prices-goldman-sachs

But then what happens when we run out of affordable oil? Obviously it will never run out, since as it becomes more scarce, it will be so expensive that only the elite will be able to afford it. But what about when the average public can no longer afford it? Do they have plans for alternate energy coming through yet?
 
I don't think it will last. I'm skeptical that it'll stay this low for a full year.

I'm going guess it probably has room to fall some more, maybe even to pre-Gulf War range, since we're not at the bottom yet (economy wise). But it'll probably be about $50 mid year.

OPEC has a fine line to walk, cut enough production to keep the price sustainable for their member nations. But if it's too high, the push for alternative energy gets stronger and they'll end up being screwed, since it's their primary source of income.

As long as it stays this low, get out and enjoy driving the 4Runner!

It's totally hard to predict the market now. Good news or bad news can tank or rally the market. It doesn't really follow traditional trends.
 
I know we're screwed in the long term (and even the medium term) but at least its nice to think we might enjoy relatively low gas prices in the short term.
 
As long as it lasts till May when i graduate and get a job. Other wise it might be draining my pockets fast if it rises too much
 

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