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Crude Oil Not Likely to Explode Higher

SeekingAlpha.com -- By Wayne A. Corbitt

There is an intense debate raging surrounding the future direction of crude oil prices. The bulls say the upcoming driving season will spur demand once again to give crude a push higher. They also argue that demand from China and other countries with healthier economies than our own will continue to soak up supply.

The bears argue that China is in the process of draining excess liquidity to dampen speculation and apply the brakes on an overheating economy. The bears also contend that with our "mirage" economy is so weak (just watch the employment numbers) that demand in this country will tail off.

In cases such as these, the proper thing to do is to not get caught up in these fundamental debates but to look at what the market tells us.

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Submitted Mar 13, 2010 By: UncleCurt

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SeerLV Champion Author Las Vegas Posts:3,488 Points:715,735 Joined:Jun 2008	Message Posted: Mar 13, 2010 5:16:27 PM Ignore SeerLV Report Abuse The oil companies will find a way to spike the prices to line their pockets.
RocketmanC99 Champion Author Missouri Posts:1,263 Points:440,930 Joined:Jan 2007	Message Posted: Mar 13, 2010 5:15:52 PM Ignore RocketmanC99 Report Abuse How high is too high? We'll, for starters, it's too high now!
playtimeCLE Champion Author Cleveland Posts:3,190 Points:592,735 Joined:Nov 2008	Message Posted: Mar 13, 2010 5:14:08 PM Ignore playtimeCLE Report Abuse I've got a bad feeling about this summer's gas prices.
CPGas1815 Champion Author Michigan Posts:1,676 Points:245,970 Joined:Apr 2008	Message Posted: Mar 13, 2010 5:13:57 PM Ignore CPGas1815 Report Abuse This article is filled with so much bull $hit I wouldn't no where to begin. Gas prices will be increasing. There is no doubt. The contemptable oil industry as they have always done will manipulate market prices and manipulate supply to gain a decided advantage of consumers. When are these monopolistic bastards going to be effectively regulated. They are profitting Billions of dolars!! It would be nice if our elected representatives in Washington would stand up and actually do something that benefits their constituants. Unfortunately, the pockets of those whom we elected into office are stained with oil.
Plebe2001 Champion Author Philadelphia Posts:2,261 Points:407,975 Joined:Jul 2008	Message Posted: Mar 13, 2010 5:05:45 PM Ignore Plebe2001 Report Abuse Good article. I hope he is right and the price of crude oil does not go up much further.
jjw0608 Champion Author Milwaukee Posts:3,372 Points:1,000,320 Joined:Nov 2005	Message Posted: Mar 13, 2010 5:04:26 PM Ignore jjw0608 Report Abuse Do you really believe that?
netman044 Champion Author Texas Posts:3,844 Points:646,060 Joined:Sep 2005	Message Posted: Mar 13, 2010 5:02:28 PM Ignore netman044 Report Abuse Higher fuel prices will destroy any recovery that has occurred in our economy.
Long_gone Champion Author Chicago Posts:1,060 Points:165,935 Joined:Jan 2010	Message Posted: Mar 13, 2010 4:56:51 PM Ignore Long_gone Report Abuse BS
aarrrt Champion Author San Diego Posts:2,995 Points:715,300 Joined:May 2008	Message Posted: Mar 13, 2010 4:54:15 PM Ignore aarrrt Report Abuse Nor is it likely to go significantly lower.
BrucePen Champion Author Ontario Posts:2,783 Points:592,770 Joined:Sep 2008	Message Posted: Mar 13, 2010 4:49:47 PM Ignore BrucePen Report Abuse Demand is dropping, supply is increasing, yet pump prices are rising. Someone is manipulating the system. Follow the money. Hint: (Big Oil)
nimpy Champion Author Indianapolis Posts:4,122 Points:892,945 Joined:Oct 2007	Message Posted: Mar 13, 2010 4:49:14 PM Ignore nimpy Report Abuse The speculators will determine the price
badbonita Champion Author Syracuse Posts:1,198 Points:374,520 Joined:Jul 2008	Message Posted: Mar 13, 2010 4:30:23 PM Ignore badbonita Report Abuse Expecting the price of gas to go down is like expecting to win the lottery - it's possible but not likely.
regasaz Champion Author Phoenix Posts:1,160 Points:347,595 Joined:Dec 2006	Message Posted: Mar 13, 2010 4:15:45 PM Ignore regasaz Report Abuse Speculation ? Surprise, Surprise
Wolfwings Champion Author Delaware Posts:3,916 Points:816,605 Joined:May 2004	Message Posted: Mar 13, 2010 4:15:36 PM Ignore Wolfwings Report Abuse For me, this summer has been planned. Since the GUMMINT did not raise my social security, I will decide HOW MUCH I WILL SPEND on fuel NOW. I will follow that with a computation of what I need to buy food etc., and add 15%for expansion. I will then BOOST that amount by 10%, just to be sure. The rest of my fuel money will be spent on silly things like taking my grandkids on trips. If this concept bothers big oil, I say LET THEM LOWER THEIR PROFITS.
paulydel Champion Author Delaware Posts:4,218 Points:466,505 Joined:Jan 2008	Message Posted: Mar 13, 2010 4:14:47 PM Ignore paulydel Report Abuse The US and the dollar are in big trouble. If the dollar continues to be devalued we will become a third world country. Prices are also climbing in this area and will be up to three dollars a gallon soon. [Edited by: paulydel at 3/13/2010 5:16:54 PM EST]
katiejayWV Champion Author West Virginia Posts:1,255 Points:380,385 Joined:Nov 2008	Message Posted: Mar 13, 2010 4:05:28 PM Ignore katiejayWV Report Abuse I agree.
bbreff Champion Author Atlanta Posts:5,164 Points:1,637,170 Joined:Jun 2005	Message Posted: Mar 13, 2010 3:57:48 PM Ignore bbreff Report Abuse It need to implode and be lower.
georgeo Champion Author California Posts:2,501 Points:101,935 Joined:May 2009	Message Posted: Mar 13, 2010 3:55:18 PM Ignore georgeo Report Abuse Another story planted to justify the price of oil now.
dbatw Champion Author St. Louis Posts:1,686 Points:341,165 Joined:Apr 2009	Message Posted: Mar 13, 2010 3:52:06 PM Ignore dbatw Report Abuse mindless speculation.....
letmathe Champion Author Chicago Posts:10,012 Points:2,284,640 Joined:May 2001	Message Posted: Mar 13, 2010 3:51:36 PM Ignore letmathe Report Abuse Sharply higher prices will cause other explosions!
POLELANE Champion Author Ohio Posts:6,312 Points:718,345 Joined:Mar 2008	Message Posted: Mar 13, 2010 3:49:29 PM Ignore POLELANE Report Abuse yeah it will EXPLODE HIGHER; when more markets demand it and less is pumped.
Ken2OD Champion Author Grand Rapids Posts:4,088 Points:998,310 Joined:Dec 2005	Message Posted: Mar 13, 2010 3:49:05 PM Ignore Ken2OD Report Abuse China's infrastructure is worse than the U.S. At least our new high rise buildings don't tip over and fall. China has absolutely no Quality Control. I would not even trust buying a paper chinese lantern from there.
paulydel Champion Author Delaware Posts:4,218 Points:466,505 Joined:Jan 2008	Message Posted: Mar 13, 2010 3:48:03 PM Ignore paulydel Report Abuse The US and the dollar are in big trouble. If the dollar continues to be devalued we will become a third world country.
johnrb Champion Author Michigan Posts:3,826 Points:1,104,025 Joined:Oct 2006	Message Posted: Mar 13, 2010 3:47:37 PM Ignore johnrb Report Abuse whatever happens we'll all end up paying more for it!
Kamakani Champion Author Hawaii Posts:1,865 Points:574,360 Joined:Oct 2008	Message Posted: Mar 13, 2010 3:46:14 PM Ignore Kamakani Report Abuse Let's hope not.
Romey08 Champion Author Virginia Posts:1,934 Points:569,375 Joined:Apr 2008	Message Posted: Mar 13, 2010 3:43:39 PM Ignore Romey08 Report Abuse China is in trouble like the US. China has over built and now has many buildings and homes sitting empty.
farmersboy All-Star Author Madison Posts:835 Points:180,205 Joined:Oct 2008	Message Posted: Mar 13, 2010 3:43:34 PM Ignore farmersboy Report Abuse just keep buying it a nd it will keep going UP
LanguageMan1 Champion Author Tampa Posts:5,963 Points:690,445 Joined:Apr 2008	Message Posted: Mar 13, 2010 3:39:20 PM Ignore LanguageMan1 Report Abuse Yeah, I didn't really expect crude to explode this year; but probably within the next two to four years. I'm expecting around $170 a barrel and more! Gas should be headed for $5 to $8 a gallon minimum and don't be surprised to see $220 a barrel and $10 to $20 a gallon respectively at some point!
judgemobile Champion Author Ohio Posts:2,751 Points:1,487,060 Joined:Nov 2005	Message Posted: Mar 13, 2010 3:30:16 PM Ignore judgemobile Report Abuse predictions are wrong more than they are right. Anyone who disagrees has naver played the lottery...or has played and WON BIG.
PissedCanuck Champion Author Toronto Posts:3,818 Points:817,930 Joined:Nov 2006	Message Posted: Mar 13, 2010 3:28:18 PM Ignore PissedCanuck Report Abuse That is until June when Hurricane season starts, then its pump up the prices, pump, pump, pump.....
Zuman Champion Author New York Posts:1,494 Points:962,115 Joined:May 2005	Message Posted: Mar 13, 2010 3:22:54 PM Ignore Zuman Report Abuse Gee what crystal ball did they look at??????????????????????????????
no_monkey2002 Champion Author Tallahassee Posts:3,778 Points:1,122,215 Joined:Mar 2006	Message Posted: Mar 13, 2010 3:22:29 PM Ignore no_monkey2002 Report Abuse keep the employment full ahead more jobs
ladyaglow Veteran Author Atlanta Posts:296 Points:157,015 Joined:Jun 2009	Message Posted: Mar 13, 2010 3:15:07 PM Ignore ladyaglow Report Abuse Want robet? Yes, drill baby drill.
Z51Corvette Champion Author Austin Posts:4,134 Points:803,095 Joined:Jan 2008	Message Posted: Mar 13, 2010 3:12:17 PM Ignore Z51Corvette Report Abuse Tough call, but overall the economy won't be able to TOLERATE a jump in prices, as it will cause the American economy to TANK. Most folks are still hurting and the Summer Driving Season, will be sluggish at best. For what's it's worth! Another opinion.
PathfinderSC Champion Author South Carolina Posts:4,559 Points:857,785 Joined:Mar 2008	Message Posted: Mar 13, 2010 3:11:46 PM Ignore PathfinderSC Report Abuse It is a wait and see game. I don't think it will stay down.
suzyq2007 Champion Author Dallas Posts:2,799 Points:777,275 Joined:Oct 2007	Message Posted: Mar 13, 2010 3:09:43 PM Ignore suzyq2007 Report Abuse there is a huge surplus, so there is no huge demand
mateo718 Veteran Author Columbus Posts:485 Points:130,660 Joined:Apr 2005	Message Posted: Mar 13, 2010 3:08:54 PM Ignore mateo718 Report Abuse what demand there hasnt been any demand to speak of in almost 2 years CONGRESS HAS FAILD US.
ILANGE9 Champion Author Illinois Posts:2,524 Points:621,555 Joined:Sep 2008	Message Posted: Mar 13, 2010 3:06:07 PM Ignore ILANGE9 Report Abuse One opinion; it will go up. Just watch.
janctx Champion Author Lubbock Posts:2,639 Points:855,635 Joined:Nov 2007	Message Posted: Mar 13, 2010 2:56:43 PM Ignore janctx Report Abuse then drop it, fuel is to dang high
jmg144 Champion Author Maryland Posts:6,740 Points:2,005,980 Joined:Jul 2004	Message Posted: Mar 13, 2010 2:52:34 PM Ignore jmg144 Report Abuse Commodities are just as cyclical as the ecoonomy
afghaned Champion Author Hamilton Posts:4,346 Points:309,850 Joined:May 2004	Message Posted: Mar 13, 2010 2:45:20 PM Ignore afghaned Report Abuse Supply & demand, conserving & not driving for enjoyment haven't helped the pricing so ...
Wizrd03 Champion Author Illinois Posts:3,208 Points:658,605 Joined:Oct 2008	Message Posted: Mar 13, 2010 2:44:20 PM Ignore Wizrd03 Report Abuse Hope & change has created the "mirage economy" You voters get what you deserve FIX IT IN 2010!
mstearno Champion Author Dayton Posts:3,581 Points:795,390 Joined:Jan 2008	Message Posted: Mar 13, 2010 2:38:31 PM Ignore mstearno Report Abuse just as much as possible
DarthDadJr Champion Author Virginia Posts:3,328 Points:643,685 Joined:Jul 2008	Message Posted: Mar 13, 2010 2:35:37 PM Ignore DarthDadJr Report Abuse But speculation can only do so much...if they drive the price up too high, demand will definitely drop causing the price to fall and they will lose money. The Hunt brothers tried to control the silver market in the 70's and failed and lost their shirts!
ljmatney Champion Author Wichita Posts:4,024 Points:565,120 Joined:Jul 2008	Message Posted: Mar 13, 2010 2:35:12 PM Ignore ljmatney Report Abuse Don't worry about what "they" are going to do. Keep conserving and do what you can do.
fullauto All-Star Author Reading Posts:966 Points:603,155 Joined:Apr 2008	Message Posted: Mar 13, 2010 2:34:46 PM Ignore fullauto Report Abuse whatever will be will be...
bluebird1 Champion Author Toronto Posts:10,716 Points:2,144,345 Joined:May 2004	Message Posted: Mar 13, 2010 2:33:32 PM Ignore bluebird1 Report Abuse Finally some sanity, with logical explanation - however other view is that since Dec. 2009 speculators have been keeping the price up & how long can they continue to do that??? All this is also mute, because we know speculators will have gas prices soaring for the spring (May long weekend if not before), despite market conditions & that gas prices don't follow oil even remotely, not even on a delayed basis. Just use the price charts on this site & click 'show crude' to see....Oil is relatively flat past yr but our gas has climbed the entire time - try it for your area & state/prov. avg to see.
jpd683 All-Star Author Scranton Posts:985 Points:911,855 Joined:Jul 2005	Message Posted: Mar 13, 2010 2:31:34 PM Ignore jpd683 Report Abuse I beleive that the oil prices will go up over 85.00 per barrel.
spunky4443 Champion Author Washington Posts:4,009 Points:1,050,245 Joined:May 2005	Message Posted: Mar 13, 2010 2:31:10 PM Ignore spunky4443 Report Abuse More People will stay home, with higher fuel prices.
diatzikis All-Star Author Raleigh Posts:718 Points:195,805 Joined:Jul 2008	Message Posted: Mar 13, 2010 2:30:14 PM Ignore diatzikis Report Abuse Want to bet?
saleboss All-Star Author Phoenix Posts:745 Points:546,770 Joined:Feb 2006	Message Posted: Mar 13, 2010 2:29:54 PM Ignore saleboss Report Abuse I hope they are right, and crude oil doesn't give stations a reason to raise prices at the pump!
Jeff1944 All-Star Author South Dakota Posts:834 Points:211,405 Joined:Jan 2010	Message Posted: Mar 13, 2010 2:28:44 PM Ignore Jeff1944 Report Abuse I thought China was growing and the US was stagnant?