My charts show around 100 should be near top this cycle. I predicted topping first week of September (this week) when I did this chart 8 weeks ago. But it dot delayed a bit. So much for the end of the summer driving season and lower prices. However, I am paying about $1 more now per gallon than I did at the height of 140 barrel in 2008. Which would mean if we got to 140 again, it would be near 8-9 gallon. Agenda 2030 at work.. will people really keep working when 20-30% of their income after taxes goes to fill the tank? Choosing between feeding a bloated SUV and their kids??
Yes people will pay whatever it takes to get to work even if they are going backwards. As Doug Casey states the bulk of the US citizens are bovinely stupid. Private households are exactly just the this government spend more that you take in. A total disaster is in the works!
That is strange since the Forbes article says $300 per barrel. 2008 @ $140 was fairly manageable. This time I am sure they want the wheels to fall off globally and I doubt $140 would get them there.
Also keep in mind that in 2008, we didn't have the debt loads we do today. Homes were half the price and the credit card debt was 1/2 what it is now. Incomes are just 25% more (median household income) yet median home is now closing in on 500K and living costs now are triple what they were in 2008.. that was before QE ever started and the mass debasement of the currency from 2009-2023. Thus, people were not spending 2K a month on food in 2008. 25% wage increase since 2007 yet 200-300% higher prices.
I will get to $300 at some point..but I do not believe we are in that cycle this Fall. Next cycle. $140 would be enough to bring economy to a standstill this time. Again, most of us are paying over $4-5 low grade at just $82-85 barrel so going up another 75% to $140 would get us to $8 very easily. That means surcharges on every bill-utilities would go up 35% overnight, and to fill even a Honda Accord would be $150. Just once a week that is $600. Most couples have 2 cars.. and most people drive bloated SUVs with one person in them and 30% have a pickup truck getting under 13 miles to the gallon
I definitely have both the pickup and the bloated SUV but I only drive about 30-50 miles per week….so….you are probably correct but there is their whole ‘war party’ they have to throw…so, idk. It’s only $3.60-3.80 for premium here in TN
And this is in spite of the dollar gaining which implies the oil market might be decoupling from the Petrodollar system, especially considering how Saudi Arabia just joined BRICS. Scary times ahead for the West.
Wow! Up here in Canada last year a 3.7 liter can of cedar oil for my deck cost me $50 bucks including taxes, I bought one can yesterday and it is $76 bucks.....Wow!
no revolt, just more crime over all and let certain groups of people get away with it, until the unforgiving fed up people start the REAL revolt IF it ever happens !
I have said it before and I will say it again. We need to drill our own oil~! Biden is the problem. The people are the solution. No one in office knows how important oil is to the economy. Oil touches EVERYTHING! So prices/inflation will continue to rise. I can only blame one group.. The democrats.
i was just listening to Nick Santiago and he is saying that Crude has probably reached a peak for now and probably taking a pullback...........IMHO.....i think he could be right......
as we all know...nothing ever goes straight up or down.......lol.......
Should get to $100 just before cycle top
Brent crude was near $130 in 2012. History does rhyme.
My charts show around 100 should be near top this cycle. I predicted topping first week of September (this week) when I did this chart 8 weeks ago. But it dot delayed a bit. So much for the end of the summer driving season and lower prices. However, I am paying about $1 more now per gallon than I did at the height of 140 barrel in 2008. Which would mean if we got to 140 again, it would be near 8-9 gallon. Agenda 2030 at work.. will people really keep working when 20-30% of their income after taxes goes to fill the tank? Choosing between feeding a bloated SUV and their kids??
Yes people will pay whatever it takes to get to work even if they are going backwards. As Doug Casey states the bulk of the US citizens are bovinely stupid. Private households are exactly just the this government spend more that you take in. A total disaster is in the works!
That is strange since the Forbes article says $300 per barrel. 2008 @ $140 was fairly manageable. This time I am sure they want the wheels to fall off globally and I doubt $140 would get them there.
Also keep in mind that in 2008, we didn't have the debt loads we do today. Homes were half the price and the credit card debt was 1/2 what it is now. Incomes are just 25% more (median household income) yet median home is now closing in on 500K and living costs now are triple what they were in 2008.. that was before QE ever started and the mass debasement of the currency from 2009-2023. Thus, people were not spending 2K a month on food in 2008. 25% wage increase since 2007 yet 200-300% higher prices.
I will get to $300 at some point..but I do not believe we are in that cycle this Fall. Next cycle. $140 would be enough to bring economy to a standstill this time. Again, most of us are paying over $4-5 low grade at just $82-85 barrel so going up another 75% to $140 would get us to $8 very easily. That means surcharges on every bill-utilities would go up 35% overnight, and to fill even a Honda Accord would be $150. Just once a week that is $600. Most couples have 2 cars.. and most people drive bloated SUVs with one person in them and 30% have a pickup truck getting under 13 miles to the gallon
I definitely have both the pickup and the bloated SUV but I only drive about 30-50 miles per week….so….you are probably correct but there is their whole ‘war party’ they have to throw…so, idk. It’s only $3.60-3.80 for premium here in TN
And this is in spite of the dollar gaining which implies the oil market might be decoupling from the Petrodollar system, especially considering how Saudi Arabia just joined BRICS. Scary times ahead for the West.
Wow! Up here in Canada last year a 3.7 liter can of cedar oil for my deck cost me $50 bucks including taxes, I bought one can yesterday and it is $76 bucks.....Wow!
fire the government
I started my personal revolution years ago ... un bank and keep stackin’
no revolt, just more crime over all and let certain groups of people get away with it, until the unforgiving fed up people start the REAL revolt IF it ever happens !
I have said it before and I will say it again. We need to drill our own oil~! Biden is the problem. The people are the solution. No one in office knows how important oil is to the economy. Oil touches EVERYTHING! So prices/inflation will continue to rise. I can only blame one group.. The democrats.
Yay! Now my neighbors will stop driving like mad men and drive the 25 mph speed limit.
i was just listening to Nick Santiago and he is saying that Crude has probably reached a peak for now and probably taking a pullback...........IMHO.....i think he could be right......
as we all know...nothing ever goes straight up or down.......lol.......
Hope so