oil expected to hit $70 a barrel this month....get wood stoves now

[ElsewheresDaughter]

http://www.cbsnews.com/stories/2005/08/12/ap/business/mainD8BU7HPO0.shtml

(AP) Crude-oil prices again soared to new highs before retreating a bit Friday, climbing past $66 a barrel as reports of new U.S. refinery outages rekindled fears that gasoline supplies in the world's biggest consumer would struggle to meet rising demand.

A spate of refinery glitches, an unusually active hurricane season in the U.S. and concerns over Iran's decision to resume uranium conversion activities weighed heavily on people's minds, pushing prices upward, analysts said.

With bullish sentiment unabated and crude prices hitting five consecutive highs in just as many days this week, analysts expect front-month crude contracts to test the $70 a barrel threshold.

[XNASA]

1. Actually, I'm planning on buying a scooter, very soon.

[merbex]

2. And learn how to knit and dress in layers

now is the time to order cords of wood too

[T Roosevelt]

3. Even better - $75

From one of my regular peak oil websites - Land of Black Gold

T Boone Pickens predicted $75 oil within a year yesterday to Melissa Francis on CNBC. (ed: yesterday would be August 9)

His successful predictions so far:

- In 2003, he predicted $28-32 over the next 2 years.
- On May 16th, 2004 he predicted $45 'pretty quick', which it hit in 3 months.
- In July 2004, he predicted $50 before $30.
- On September 29th, 2004, he predicted $60 before $40, and said he didn't think we'd ever go back to $35 again.

Can the streak last?

[jojo54]

4. Someone had recently posted a thread about a bet on oil $$

being $3.00 a gallon by the end of the year. Did a quick search, but I can't find it.

The point is, it looks like this could become a reality. It's time to go to the store and stock up on wool sweaters, 'cause my thermostat is going to be set on 60 for the winter (gas heat)!!!!

[kestrel91316]

5. Better to insulate the hell out of your house ...................

Buy a bike and USE IT rather than the car when possible.
Buy as much locally produced food as possible (farmers' markets).

[Chipper Chat]

6. Sorta gives Shrub's "Need some wood?" debate question

an all new meaning doesn't it?

[ElsewheresDaughter]

8. indeed

[skids]

7. Insulate, Insulate, Insulate.

Best bang for the buck.

And a solar concentrator/batch water heater system doesn't hurt.