How HIGH the price of OIL?

The only thing I could see having an impact on the oil price trend is significant growth and implementation in alternative fuels, (or a change in oil dependency/lifestyle of oid dependency). Feel free to insert: "We're doomed" here. There is plenty that could be done even in terms of oil harnessing, but that won't happen due to environmental (well more political concerns than environmental... gotta love those empty flapping head shills). Beyond this, oil demands for world supply will increase due to population and accelerant lifestyle(its tough doing this while under the weather). How will it effect my life? Just paying higher at the pump. There will be a time when I'll simply say to work, let me do some of this at home... as plenty of work revolves around a computer. In terms of other citizens, I know they'll feel the hurt... but so many of them live in a way that is fully dependent on gasoline and the automobile. It would take something staggering to even evoke a voice or mindset of change overall. The cost would be enormous... but so would the constant paying of high gasoline (and I'm reminded of politicians and their half-thought plans to raise gas taxes by $0.50-1.00+ per gallon...) Side event: for those that don't know, other energy prices are rising too. Coal being the most notable one... Electricity bills will shoot up in the coming months for plenty of households (but the only positive side is that stateside is approaching this with summer and not winter heating). Hmm... maybe not. Power grids were strained in previous summers (blackouts from a couple of years before). I hope there isn't too much of a mess for this either.

I think the high oil prices affect everyone, because it costs more to ship everything, everything that has to be shipped will go up. Because it costs more to run buses and airplanes, those tickets will go up. Etc., etc.,.... I know it affecting my family when it takes 1/5 of our income just to drive to work and pick up the kids from school.

Hello Red, This oil situation is a full-fledged crisis, from my point of view. The global economy runs on oil. As such, I find it preposterous that oil is still a betting medium on the commodities marketeers. Although I'm not a fan of government intervention, I have long been clammoring for Congress to legislate oil out of the commodities market. Oil is a necessity, on pretty much every level. As such, it is a national security issue, and cannot be equated to orange juice and coffee. Because oil is traded on the futures market, it is being subject to the wild & wooly antics of day traders, and the nervous ninny reactionary practices of people who are betting on calamity. Geesh, I've known futures traders who were such maniacal gamblers that they would bet on the color trunks that a boxer would wear to a boxing match. Without question, I believe it's terribly foolish to subject our national economy, and the global economy to the whims of gamblers! As it is now, the day traders ratchet up the price of a barrel of oil for a profit. When they do, the oil companies profits soar, as does the federal governments profit -- by way of increased tax revenue. So, while our Rep's in Congress claim to 'feel' for the little guy, they seem oblivious to the fact that regulating oil, without regulating the business practices of the oil companies, is not only possible, it is a necessity. Remove oil from the commodities markets. Level it with any other for-profit venture, without giving gamblers the power to destroy the economy. Geesh, silicone chips aren't traded on the commodities market. NFL jerseys aren't traded on the commodities market. Why the heck is oil traded on the commodities market? Extracting oil from the future's arena will return the oil business to the arena of true supply & demand. As it is now, supply & demand have little to do with the price of oil. Will I be surprised if the oil bubble bursts? No, I won't. I hold a bit of MRO -- it's one of my favorite stocks right now. So, I pay close attention to the market, and particularly how MRO relates to the big dogs. In the 1950s the largest deposit of sand oil to ever be discovered in the USA, was found in the Dakota's. This is in addition to the shale oil found in Wyoming, Colorado, and Utah. MRO invested big bucks last year into Dakota drilling rights and the acquisition of oil fracturing equipment -- based on the hydrofracture drilling technique. They, as well as others, are poised to take advantage of the Dakota oil reserve. A pipeline project is in its early stages through the Dakotas, and a refinery is on the project block for the area. What's interesting is that MRO has projected that they will be able to extract that sand oil for about $3/barrel. Mind you, this is just the extraction estimate. Though, if a refinery and pipeline are all going to be in the region, then I'd say that we will see the per barrel price stabilize, then drop. My guess is that the price will settle at around $2.25 per unleaded gallon (just a guess based on the cumulative costs of extraction, refining, and transport), though that's a far cry better than 3.50/gallon. All of us 'little people' need to be hammering Congress to extract oil from the commodities market. It is the only way to stabilize the industry, and the economy.