Islandman what's your take on oil hitting $88 a barrell

[Scaly Spurs]

I saw a man on tv the other day say the US economy could withstand $100 a barrell oil ( wonder if Jamaica could as well) I think oil will hit $100 a barrell because there is no end in sight with all the middle east problems and demand is still high as hell.

Could oil have been under priced for all these years ?

[Gamma]

UNDERPRICED? spoken like a man who tek di subway!

[Jawge]

The Us can force the price down
if they want. They can do the same for bauxite too. Dem man haff dem tings tight memba mi tell yuh.

PNP left office with JA paying less than one USD a gallon, let's see how that will hold. Prento ah run di ting now.

[Islandman]

I tend to fall in the camp who feels that while the long-term trend is for it to go even higher (due to China, Indias economic development) right now it seems a bit speculative and very volotile to anything happening in the hotspots of the world.

I definately think $100 a barrel is inevitable. Demand will only increase and even if they find new oil supplies there s no capacity to refine it to keep up with the demand

[Lazie]

wonder if Jamaica could as well

Scaly, the buget for our oil bill was either 72 or 75 per barrel. According to an analyst on Real Business this morning, the current price is going to push our oil bill to about 2 billion.

Heard the Governor of the BOJ a few weeks back indicating that for every $ the price goes up, our inflation rates goes uo by a certain %age.

I think its time for some conservation. Man like Mosiah affi park the 'Scalade' and tek JUTC. All the politicians travelling in SUVs need to get a camry.

[Jawge]

Well sound diplomatic skill can
keep the price down, but unnuh want di driva so mek wi see nuh.

[Scaly Spurs]

UNDERPRICED? spoken like a man who tek di subway!

hahaha ! so true gamma but there are people out there who actually think so.....some of their reasoning is that OPEC has become less and less effective and the free market has spoken.

[Gamma]

jawge..is a long time wi agree on anything but i too think that bruce's venezuela talk was injudicious and unnecessary

[Scaly Spurs]

I tend to fall in the camp who feels that while the long-term trend is for it to go even higher (due to China, Indias economic development) right now it seems a bit speculative and very volotile to anything happening in the hotspots of the world.

I definately think $100 a barrel is inevitable. Demand will only increase and even if they find new oil supplies there s no capacity to refine it to keep up with the demand

Yes China and India does make a big difference compared to 20 years ago when oil was $18 a barrell. I think though that if the US does pull out of Iraq and the Iran situation cools down then it will go down but not by that much.

[Scaly Spurs]

Scaly, the buget for our oil bill was either 72 or 75 per barrel. According to an analyst on Real Business this morning, the current price is going to push our oil bill to about 2 billion.

Heard the Governor of the BOJ a few weeks back indicating that for every $ the price goes up, our inflation rates goes uo by a certain %age.

I think its time for some conservation. Man like Mosiah affi park the 'Scalade' and tek JUTC. All the politicians travelling in SUVs need to get a camry.

U mean the new budget or the former Govt's one ?

[Jawge]

Whew finally. there
is a God fi true He will pay though trust me.

[Lazie]

U mean the new budget or the former Govt's one ?

The budget that was tabled in April.

[Jawge]

The US has something called
strategic reserves. In times back Bill Clinton used it to avoid an oil crisis.
It was used against Joshua in 70s when Joshua tried to used bauxite as a levearge. Empire game tight nuh play wid dem.

[Scaly Spurs]

The budget that was tabled in April.

OH that was very smart thinking by Omar

[Lazie]

OH that was very smart think by Omar

Am I missing something? Smart how?