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Author Topic: [Poll: 2010.19]: Crude oil is now selling for around $85 per barrel. What do y... Back to Topics
JT

Moderator
Message Posted: May 2, 2010 12:01:01 AM

Crude oil is now selling for around $85 per barrel. What do you think is a fair price for a barrel of oil?
$20 or less
$40
$60
$80
$100
$120
$140 or more
No opinion

Post your thoughts about this poll below.
REPLIES (newest first) Post a Reply
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achung53
Veteran Author Orange County

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Message Posted: Dec 2, 2012 10:59:52 AM

$60
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googlee
Champion Author Montreal

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Message Posted: Nov 6, 2011 6:38:26 AM

$20 or less
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HFAJR0034
Champion Author New Mexico

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Message Posted: Oct 2, 2011 9:44:29 PM

it was $78.00 last friday
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tjc09f
All-Star Author Tallahassee

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Message Posted: Oct 2, 2011 6:36:07 PM

$60
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estroh
Champion Author Indiana

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Message Posted: Jul 2, 2011 12:31:30 AM

Sad that this is not the area where this will even be read by many but for our domestic production to work we need 80 dollars per barrel oil. Gone are the old 1970's days when I myself remember buying a gallon for 25 to 30 cents. Why 80 dollars you ask. The total cost of removing a barrel from the ground in the shale areas comes up roughly to 60 dollars per barrel. That leaves 20 dollars per barrel profit for the company extracting it. If they can not get 80 or more they will discontinue drilling new wells and we continue to be dependent on foreign oil.
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HardeepWA
Champion Author Tacoma

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Message Posted: Jun 15, 2011 3:18:55 AM

$40.
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John021109
Rookie Author South Carolina

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Message Posted: Feb 6, 2011 2:16:43 PM

yes
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wrunner
Champion Author Virginia

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Message Posted: Jan 31, 2011 11:41:07 PM

$60 is a good price, as long as both the supply is stable.
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RATONRIPOFF
Rookie Author New Mexico

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Message Posted: Jan 7, 2011 1:03:11 AM

ABOUT $40 A BARREL. We showed most of those country's how to get the oil out of the ground! We send them medicines, food, arms and troops to protect their country and oil, AND what do we get? the finger!
Also we need to look at the oil speculators and buyers at the NY Stock Exchange. These crooks are also a big part of why we are paying more at the pump and they are going to be a big reason why in the next year or so we are going to be looking at $5.00 a gallon for gas!
Solution, food and medicines for oil, put a price cap on the stock traders!
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monty28
Rookie Author Kalamazoo

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Message Posted: Dec 18, 2010 4:45:52 PM

there is no fair price
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GasMiserAZ
Champion Author Phoenix

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Message Posted: Nov 11, 2010 5:47:02 PM

$60
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pkhdonovan
Champion Author Maine

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Message Posted: Nov 11, 2010 4:47:59 PM

don't know
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xxrockitxx
Champion Author Hartford

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Message Posted: Nov 11, 2010 3:56:39 PM

More government hogwash. I believe $40 is proper.
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bja0030
Champion Author New Mexico

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Message Posted: Nov 11, 2010 12:05:37 PM

IT WAS $89.00 YESTERDAY
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bja0030
Champion Author New Mexico

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Message Posted: Oct 12, 2010 11:20:01 AM

$20.00
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thinkaboutit
Champion Author Colorado

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Message Posted: Sep 24, 2010 10:46:52 PM

Isn't this "what you think" price question nothing but wishful thinking? Are prices not determined by collective behavior. Isn't the market price (today, 9/24/10, over $76/barrel for the November contract) a price that is determined collectively? A lot of people have grudges against high prices, but to bring prices down, 10s of millions of US customers (100 millions world-wide customers) would have to buy less, which is considered more painful than paying the asking price.
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HFAJR0034
Champion Author New Mexico

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Message Posted: Sep 21, 2010 10:42:34 PM

$40.00 IT WAS $73.42 AT 6:00 P.M. TONIGHT. 9/21/10
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xxrockitxx
Champion Author Hartford

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Message Posted: Sep 20, 2010 2:30:57 PM

I agree with $25/barrel. Take away the taxes and other ripoffs and $25 is what it would cost.
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alberttimme
Rookie Author Houston

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Message Posted: Aug 29, 2010 9:21:36 PM

A Barrel should be worth 1 oz of Gold.
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Coolrunning
Veteran Author El Paso

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Message Posted: Aug 18, 2010 2:47:44 PM

Think about it. Oil is laying in vast pools underground. It is free to whoever can drill down to it and bring it to the surface. Add up drilling costs, operation of the wells, transportation of the crude product to refiners, and a "fair" profit. It shouldn't cost more than $25/bbl. Oil companies are making as high as 1500% profit on every barrel they sell.
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HFAJR0034
Champion Author New Mexico

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Message Posted: Aug 13, 2010 5:04:08 PM

$10.00
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SAVEITIL
Champion Author Chicago

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Message Posted: Aug 5, 2010 3:15:26 AM

No opinion
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williedexter
Rookie Author Fort Worth

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Message Posted: Jul 15, 2010 3:47:09 AM

Even if you would quote a price it will always become greater,because that's how money hungry this world is. A fair price isn't a discussion or would it be a right and affordable price set?,Does opinions matter anymore?
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fuel1971
Rookie Author San Antonio

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Message Posted: Jul 2, 2010 2:19:14 AM

$40
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clancykid
Rookie Author Montana

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Message Posted: Jun 22, 2010 8:27:11 AM

It looks like we are going to be in the high 70's to mid 80's for the summer. I wonder if that moratorium for the next six months will effect the price at the pump? According to the various news organizations, it is putting anywhere from 50,000 to 100,000 people out of work. That is just plain not good!
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Jdanek630
Champion Author Massachusetts

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Message Posted: Jun 10, 2010 2:43:18 PM

jaguar: Great post. I think it's a very emotional and reactionary response that people have. I also believe we were temporarily "spoiled" when oil reached its trough during this recession at roughly $35/barrel. Now, with oil more than twice that selling price, we feel as though it is not priced fairly. This is because the reason we've been given for the hike in commodity prices is the global "economic recovery". So if it's not based on supply & demand economics and simply on speculative macroeconomic data, then people have a right to believe that $75-80/barrel crude oil is vastly overpriced. This would suggest that economies across the globe are in >2X better shape than they were less than two years ago. This is certainly not the case. The very Euro-zone currency's demise is now considered a real possibility. The U.S. continues to trot forward in a very mediocre fashion. Any excitement over China & India's expansion is hampered by unnerving activity in N & S. Korea, Iran, Venezuela, & the entire continent of S. America (poor economic activity). $40/barrel oil would be far too generous, but $75/barrel oil is a bit ludicrous. A price in the 50s or 60s would be much more reasonable, so long as it remained in that trading range for the remainder of the 2nd & 3rd quarters of this year.
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jaguar01
Rookie Author Austin

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Message Posted: Jun 10, 2010 2:20:12 PM

I am surprised at how many people believe a fair price is under $40. Although I too would like to be paying under $1 for gasoline, I would be interested in learning the logic used to arrive at $40 or less for a barrel of oil. A barrel of oil is 42 gallons, anyone who buys bottled water knows that you can hardly buy 42 gallons of water for much under $40 and it is much more expensive to drill for oil than to bottle water.

This is simple economics. A "fair price" would be a price that covers the cost of all aspects of production and provides a reasonable profit considering the level of risk involved. Oil exploration is a very high risk investment (many wells cost millions to drill and are dry wells). The level of profit in crude oil needs to be high enough to make up for the high level of risk that is taken by investors.

In basic terms, if you were going to invest $100 for a possible $120 return in 1 year on an investment that has almost no risk, you would probably do it. However, if you were going to invest $100 in an investment that has a possible $150 return in 1 year but with only a 50% chance of success, this return would not be enough for a reasonable person (outside of Las Vegas).

So while I would personally love for oil to be under $40 a barrel, there is no possible way anyone could consider that to be a "fair price". However, if the question were "Ignoring all aspects of economic reality, what would you like the price of oil to be?" I would also be part of the 40% saying under $40 a barrel.

[Edited by: jaguar01 at 6/10/2010 2:26:19 PM EST]
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barbiebusdriver
Rookie Author Montgomery

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Message Posted: May 30, 2010 4:41:35 PM

65
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Tundralimited2009
Champion Author Dallas

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Message Posted: May 30, 2010 9:13:25 AM

whatever the market level is....
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dunebuggy1
All-Star Author British Columbia

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Message Posted: May 24, 2010 5:01:51 AM

And some of you guys think 60///70///evn 100 dollars a barrel is fair.....get an education outside the ASD.
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dunebuggy1
All-Star Author British Columbia

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Message Posted: May 24, 2010 5:00:13 AM

"""An oil price of $65 per barrel is still reasonable for all producers, but a price below that level will be a "disadvantage," the chief executive of Saudi Basic Industries Corporationy"""............ Hey Fellow Posters, get a load of this article posted to the GasBuddy.....if some sheck(sic) is saying $65.oo is fair then you better believe somebody is lying( his lips were moving, even in Arabic). Those aren't American Camels drilling for oil, it's American Technology. In Kuwait there is a saying the Kuwaiti's use to justify keeping Camels, " for the day when the Oil runs out". When it does the Country will fall apart as the Kuwaiti's don't, as a rule WORK. Currently the fields are being pressurized to flow the oil and most flare gas is being wasted. So much, the flares have an engineering limit on the size, they are currently getting ready to start running specially engineered power plants to run the flare gas to generate electricity. They have no conscience when it comes to dealing with non_arabs and the price is ridiculous. After all we even had to stop the wells Saddam Hussien blew up......
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jeffrey561
Rookie Author Baltimore

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Message Posted: May 22, 2010 11:22:29 AM

less than 30/barrel
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FocusGuy
Champion Author Seattle

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Message Posted: May 21, 2010 7:38:25 AM

going down since this poll
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jeffrey561
Rookie Author Baltimore

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Message Posted: May 16, 2010 10:55:26 PM

I think oil should be less than $30/barrel.
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talon2010
Rookie Author Hamilton

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Message Posted: May 15, 2010 10:22:19 AM

at the present it is trading at 71 dollars under no condition should it be able to fluctuate at the rate that it does . this is only the oil monopoly manipulating prices and profit taking
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Pede
Champion Author New Jersey

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Message Posted: May 14, 2010 12:41:28 PM

We should be demanding lower oil prices.
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mnorthwood13
Champion Author Michigan

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Message Posted: May 13, 2010 1:08:09 PM

It's amazing that OPEC's "Goal" is for oil to be $27/barrel. I think they're pulling our leg...oh wait, they've been doing that since they formed.
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Carnage
All-Star Author New Brunswick

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Message Posted: May 13, 2010 9:28:50 AM

Anything over $60.00 is just a scam
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curvycurvinia
Rookie Author Cincinnati

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Message Posted: May 11, 2010 2:25:28 PM

I think $60.00 is a fair price to pay for a barrel of oil.
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drwho48
Rookie Author Illinois

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Message Posted: May 10, 2010 11:56:13 PM

$40.00 is fair
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RossyBandit
Rookie Author Portland

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Message Posted: May 10, 2010 9:54:54 PM

I have flown for a Saudia Arabia prince and have over heard him talking about how much oil needs to sell for $32.25 a barrel and they RAKE in the camel bucks so no more than $35.00 for sure..No more GOLD merecedes for crying out loud..I saw it with my eyes NOT JOKING
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thecapt911
Rookie Author Ontario

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Message Posted: May 10, 2010 12:39:20 PM

$40.00 per barrel
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charmer1212
Rookie Author Memphis

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Joined:Oct 2005
Message Posted: May 10, 2010 11:22:55 AM

$60.00

[Edited by: charmer1212 at 5/10/2010 11:23:25 AM EST]
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YMW2010
Rookie Author Saskatoon

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Message Posted: May 9, 2010 1:31:21 PM

$40
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CrackedLCD
Champion Author Alabama

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Message Posted: May 9, 2010 5:21:17 AM

Again I submit, there is no such thing as a 'fair' price.
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dunebuggy1
All-Star Author British Columbia

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Message Posted: May 9, 2010 2:05:27 AM

Guys, did you go to school at Carol Commo District Hi? Think about it, pricing is a premium percent over cost. If you produce a barrel for 10.00 sell it for 80.00 there is a hell of a mark up and the demand has to be up there too. Some oil squirts out the ground right? Some of the older wells need pumps? Some older wells didn't cost as much as todays (spills) and some countries had some really smart guys come in and drill for them invent the uses for it refine it ship and feed half the world with it and even put some men on the moon with it. Ever hear of mineral rights, well none of the oil sheecks give a rats tass either, its not in the koran, but think about it, if some steam roller company found oil under your house how much money do you think you'd get? Texans not included. Who found the oil in Sand Vile(sic)? Anglo's... Who invented all the ways to use it? Anglo's...Who feeds half the world with it?... Who put's the saddam insane fire's out for the camel racers and then pays through the nose to keep the dasha/agals from killing one another? Now what premium percent over production costs do you really think AMERICA should half to pay for their own oil so we can have a tree shaped hotel covered sand spit? I'm thinking maybe less than ya'll and a two digit price on the signs at gas stations. Go figure....its your money...
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pennygasON
Champion Author Ottawa

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Message Posted: May 9, 2010 12:07:12 AM

$65 Today
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must87searcher
Champion Author Maryland

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Message Posted: May 8, 2010 11:57:39 PM

Every buyer would want the price of oil to be done.
It doesn't even matter if the market was down or up.
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Lou08
Champion Author California

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Message Posted: May 8, 2010 11:26:36 PM

Market forces determine the price! When the price is so high and can't afford to buy that's the price of a barrel of crude oil. Economics 101 a willing buyer and willing seller.
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chui
Champion Author Dallas

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Message Posted: May 8, 2010 11:20:21 PM

$ 100.00
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