Tuesday, December 28, 2010

We are getting hosed...

9 Signs That The Price Of Oil In 2011 Will Soar Well Beyond 100 Dollars A Barrel

The following are 9 signs that the price of oil in 2011 will soar well beyond 100 dollars a barrel....

#1 Over the last couple of months, a clear trend of rising oil prices has been established. Crude oil futures for January hit a two-year high of $91.51 a barrel at the end of last week. This represents a 13 percent increase in just the last month.

#2 Usually it is the summer months when we see higher prices for gasoline, but right now gas prices are rising aggressively as we start the winter. The average price of a gallon of gasoline in the United States recently crossed the 3 dollar mark for the first time in more than two years according to AAA's Daily Fuel Gauge Report. The last time that gas was more than 3 dollars a gallon during the third week of December was in 2007 just months before "the greatest financial crisis since the Great Depression" struck.

#3 The worldwide demand for oil just continues to increase. But unlike previous times, now much of the increase in demand is coming from emerging markets. Did you know that America is not the number one consumer of energy in the world anymore? For about a hundred years the United States used more energy than anyone else, but now the biggest consumer of energy on the globe is China.

#4 Much of what we are seeing the price of oil do now is simply the continuation of a major upward trend that was interrupted by the financial crash of 2008. Just check out the chart posted below. Clearly the long-term trend for oil is moving up....

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