Mathman Prophecy

Forget $100 a Barrel - Oil Will Plummet to $30

While Jason was more or less correct on calling $30 oil, his reasoning was still off base. As cited in my above posting, only 40% of oil is converted into gasoline. The rest is used for Jetfuel, Instustrial energy needs, and Petro-Chemicals - plastics, tar, rubber, pharmaceuticals, make-up. A slow down in economy/industry is leading reason behind oil price collapse -- Not less driving paired with increase in fuel efficienct cars.

Forget $100 a Barrel - Oil Will Plummet to $30

But seriously, $30?! The cheaper it gets, the more it will be used regardless of alternative fuels.

You keep mentioning hybrids and new fuels, but Gasoline consumption accounts for about 40% of a barrel of oil. The rest is used for Jetfuel, Instustrial energy needs, and Petro-Chemicals - plastics, tar, rubber, pharmaceuticals, make-up.

The only way oil will go to $30 is if they create a very cheap way to manufacture hydro-carbons. Until then, the world will need Oil and the demand will most certainly be strong enough to keep prices of Oil at twice above your estimate.

Forget $100 a Barrel - Oil Will Plummet to $30

The underlining ends</b> here.