Not Logged In Log In   Sign Up   Points Leaders
Follow Us    6:09 PM

GasBuddy News Article

32
votes
2013: Year of $50 Oil and $1,200 Gold?

CNBC via Yahoo! Finance -- Drastic falls in the price of oil and gold, doubling of the yield in 30-year Treasurys and mass nationalizations in Japan's struggling electronics industry may be on the agenda next year.

These outlier forecasts are some of Saxo Bank's "Outrageous Predictions" for 2013.

Steen Jakobsen, chief economist at Saxo Bank, argued that the "revolution" in shale gas in the U.S. could push down to $50.

Sabine Schels, senior director and global commodity strategist at BofA Merrill Lynch Global Research,has also argued that the cost of oil could hit these lows.

"We have a unique situation in that the U.S. is producing way more oil than anyone thought they would. That will be a downward pressure along with slowing global growth," he told CNBC.

"The political danger here is that the Saudis need ...


Read the Full Article

Submitted Dec 18, 2012 By: brbaritone
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: 2013: Year of $50 Oil and $1,200 Gold? Back to Topics
REPLIES (newest first) Post a Reply
Profile Pic
remay
Champion Author Houston

Posts:9,098
Points:2,612,240
Joined:May 2006
Message Posted: Dec 19, 2012 10:38:32 AM

Well... let's see how well the media does at brainwashing everyone with THIS topic ($50 oil). It pretty much worked when the price was skyrocketing...
Profile Pic
BEGTWO
Champion Author Maryland

Posts:3,916
Points:1,192,005
Joined:Sep 2010
Message Posted: Dec 19, 2012 6:02:30 AM

Invest in Gold!
Profile Pic
1006
Champion Author Birmingham

Posts:1,138
Points:1,717,425
Joined:Apr 2008
Message Posted: Dec 19, 2012 5:02:21 AM

we will stay tuned
Profile Pic
Zonk
Champion Author Michigan

Posts:8,764
Points:2,597,950
Joined:Oct 2005
Message Posted: Dec 18, 2012 10:30:02 PM

Well...The end of the World did not take place.
Profile Pic
crreed1
Champion Author West Virginia

Posts:4,137
Points:2,987,865
Joined:May 2005
Message Posted: Dec 18, 2012 10:27:29 PM

wait and see
Profile Pic
RevDrCBJ
Veteran Author Ann Arbor

Posts:440
Points:298,230
Joined:Jul 2011
Message Posted: Dec 18, 2012 10:27:04 PM

Hmmm. . .
Profile Pic
wshokie12
Champion Author Winston-Salem

Posts:2,895
Points:661,140
Joined:Aug 2012
Message Posted: Dec 18, 2012 10:24:36 PM

We will see...
Profile Pic
boatfloyd
Champion Author Jacksonville

Posts:4,077
Points:890,840
Joined:Mar 2012
Message Posted: Dec 18, 2012 10:13:02 PM

The Saudis will still contol the price.
Profile Pic
Aviator_Rob
Champion Author New York

Posts:6,516
Points:905,030
Joined:Mar 2012
Message Posted: Dec 18, 2012 10:12:02 PM

So tell me, @Number43, are you rooting for the economy to fail just so you can be proven right?
Profile Pic
gocatgo
Champion Author South Carolina

Posts:18,712
Points:3,032,785
Joined:Apr 2006
Message Posted: Dec 18, 2012 10:09:12 PM

Seeing is believing.
Profile Pic
Rooster922
Champion Author Wilmington

Posts:4,129
Points:990,100
Joined:Jan 2009
Message Posted: Dec 18, 2012 10:08:27 PM

First we must have a strategies how to help OPEC from collapsing. Will electric car succeed? Will the Hummer type of truck return?
Profile Pic
naspa
Champion Author Cleveland

Posts:3,685
Points:855,075
Joined:Jan 2012
Message Posted: Dec 18, 2012 10:08:17 PM

I can predict gloom and doom just like everyone else. But who buys into it is more dumb then I.
Profile Pic
Number43
Champion Author Lexington

Posts:11,111
Points:2,141,365
Joined:Oct 2008
Message Posted: Dec 18, 2012 10:07:01 PM

Maybe if obummer destroys the economy.
Profile Pic
pilotmass
Champion Author Boston

Posts:4,348
Points:1,003,990
Joined:Jul 2011
Message Posted: Dec 18, 2012 10:06:26 PM

End of year= analyst looking for new job.
Profile Pic
Bubba44612
Champion Author Ohio

Posts:9,641
Points:2,374,325
Joined:Aug 2005
Message Posted: Dec 18, 2012 10:06:01 PM

Time will tell for sure, but over speculation will be the real tell.
Profile Pic
zippy452
Champion Author Cincinnati

Posts:11,946
Points:2,310,100
Joined:Oct 2006
Message Posted: Dec 18, 2012 10:05:26 PM

Another crystal ball.
Profile Pic
rahcat
Champion Author Grand Rapids

Posts:5,020
Points:1,166,200
Joined:Jan 2010
Message Posted: Dec 18, 2012 10:05:13 PM

We can only hope.
Profile Pic
bridgerunner
Champion Author Virginia

Posts:8,936
Points:1,508,135
Joined:Jul 2009
Message Posted: Dec 18, 2012 10:03:41 PM

Time will tell.
Profile Pic
Tsunamiron
Champion Author Jacksonville

Posts:3,621
Points:1,050,625
Joined:Mar 2011
Message Posted: Dec 18, 2012 10:03:04 PM

I guess I need to sell my gold.
Profile Pic
Dodge_Me
Champion Author Atlanta

Posts:2,222
Points:936,940
Joined:Mar 2006
Message Posted: Dec 18, 2012 10:02:46 PM

We'll see
Profile Pic
cheaper0ON
Champion Author Ontario

Posts:3,273
Points:899,580
Joined:Jan 2012
Message Posted: Dec 18, 2012 10:02:07 PM

Interesting.
Profile Pic
planoiceman
Champion Author Dallas

Posts:3,860
Points:798,490
Joined:May 2011
Message Posted: Dec 18, 2012 10:01:47 PM

$50 a barrel. Would be nice.
Profile Pic
Kawibiker
Champion Author Illinois

Posts:1,909
Points:360,160
Joined:May 2012
Message Posted: Dec 18, 2012 9:59:51 PM

keep wishin -- doubt it will happen
Profile Pic
Aviator_Rob
Champion Author New York

Posts:6,516
Points:905,030
Joined:Mar 2012
Message Posted: Dec 18, 2012 9:59:49 PM

Too bad they didn't explain the prediction of the price of gold falling. What happened to everyone complaining about the devaluing of the dollar? Wouldn't that keep the price of gold at an all-time high?
Profile Pic
Alanj44
Sophomore Author Birmingham

Posts:100
Points:167,425
Joined:Oct 2012
Message Posted: Dec 18, 2012 9:55:11 PM

They are getting twice that, then why>?
Profile Pic
TheHermit
Champion Author Maine

Posts:3,452
Points:225,715
Joined:May 2012
Message Posted: Dec 18, 2012 9:54:01 PM

Bring it on
Profile Pic
exilion
Champion Author Missouri

Posts:12,050
Points:2,509,340
Joined:Aug 2003
Message Posted: Dec 18, 2012 9:53:33 PM

Maybe? I would like to be paid what these economists make for theorizing or otherwise pulling numbers out of nowhere.
Profile Pic
gd83goldwinger
Champion Author South Bend

Posts:2,584
Points:794,580
Joined:May 2011
Message Posted: Dec 18, 2012 9:52:53 PM

Both of something I dont have, but could use.
Profile Pic
J4romeo
All-Star Author Gary

Posts:510
Points:1,235,530
Joined:Jan 2006
Message Posted: Dec 18, 2012 9:51:26 PM

As always time will tell!
Profile Pic
Shakleelady31
All-Star Author Fort Wayne

Posts:660
Points:800,635
Joined:Jan 2012
Message Posted: Dec 18, 2012 9:44:21 PM

Interesting.
Profile Pic
GigHarborHound
Champion Author Tacoma

Posts:4,033
Points:785,610
Joined:Sep 2011
Message Posted: Dec 18, 2012 9:42:40 PM

That will be the day!!
Profile Pic
jrsva
Champion Author Virginia

Posts:12,381
Points:2,116,250
Joined:Jan 2006
Message Posted: Dec 18, 2012 9:37:17 PM

$50 oil? I shudder in ecstasy to think of $1.50 gas!”

Be careful what you ask for. I don’t think that most people are ecstatic about a depression, which is what it would take to get $1.50 gas.
Profile Pic
bvrbill
Champion Author Eugene

Posts:6,778
Points:1,021,200
Joined:Jul 2011
Message Posted: Dec 18, 2012 9:36:19 PM

This can't be true. The world ends on Dec. 21!!!
Profile Pic
frostyWV
Champion Author West Virginia

Posts:2,340
Points:521,130
Joined:May 2011
Message Posted: Dec 18, 2012 9:35:45 PM

speculation
Profile Pic
tidalwave3
Champion Author Tallahassee

Posts:2,415
Points:1,931,820
Joined:Jun 2008
Message Posted: Dec 18, 2012 9:34:03 PM

QE4 and EPA will stop that idea :(
Profile Pic
joeschmo12
Champion Author New York

Posts:1,387
Points:382,380
Joined:Mar 2012
Message Posted: Dec 18, 2012 9:33:26 PM

prediction is a prediction. only time will tell.
Profile Pic
02SilverStroke
Champion Author Dallas

Posts:2,100
Points:1,519,240
Joined:Aug 2005
Message Posted: Dec 18, 2012 9:31:53 PM

I'll believe it when I see it. Gold prices are driven by the economy and I don't see the economy improving enough to lower the price of gold. The "experts" say that on a bad economy, gold prices increase.
Profile Pic
truckguy115
Champion Author Orange County

Posts:1,649
Points:224,915
Joined:Apr 2008
Message Posted: Dec 18, 2012 9:27:44 PM

yeah good luck with this one.
Profile Pic
shea33
Champion Author Pensacola

Posts:4,685
Points:1,045,965
Joined:Oct 2011
Message Posted: Dec 18, 2012 9:27:36 PM

Is it what the economy really needs? Too much stuff dropping isn't always good
Profile Pic
TheSnowstorm
Champion Author Montreal

Posts:9,664
Points:2,334,125
Joined:June 2005
Message Posted: Dec 18, 2012 9:24:54 PM

txkrb: Nice post.
Profile Pic
mcmonsta
Champion Author Honolulu

Posts:5,331
Points:1,311,565
Joined:Sep 2009
Message Posted: Dec 18, 2012 9:19:42 PM

just don't mix up which one is which!
Profile Pic
SavALot
Champion Author Virginia Beach

Posts:10,547
Points:2,202,535
Joined:Apr 2005
Message Posted: Dec 18, 2012 9:19:37 PM

Probably a year of a lot of surprises
Profile Pic
txkrb
Champion Author Texas

Posts:2,517
Points:1,078,320
Joined:May 2011
Message Posted: Dec 18, 2012 9:19:13 PM

$50 oil may sound good but it will mean very bad economic conditions, with rising unemployment, reduction in gas consumption and then cut back in exploration and production by oil companies. Then as the economy improves gas consumption will out pace production resulting in a shortage and oil prices rising to over $120 and gasoline over $4 again

Just face it gas in the $3 range is the new normal
Factoring inflation over the last 40 years $3 gas is on par with most goods
a car that cost $4,000 in 1979 is now $19,000, bread is $now over 1.50 and milk over $3.00
Profile Pic
mstearno
Champion Author Dayton

Posts:9,428
Points:2,147,785
Joined:Jan 2008
Message Posted: Dec 18, 2012 9:17:47 PM

how about $150 oil next year and 1800 gold
Profile Pic
pacecar68
Champion Author Oakland

Posts:5,375
Points:1,118,835
Joined:Jan 2007
Message Posted: Dec 18, 2012 9:16:37 PM

ok.
Profile Pic
abcdMA
Champion Author Worcester

Posts:10,202
Points:2,066,890
Joined:Nov 2008
Message Posted: Dec 18, 2012 9:15:00 PM

if on this were true
Profile Pic
WIPACKERFAN
Champion Author Chicago

Posts:11,114
Points:2,343,930
Joined:Aug 2005
Message Posted: Dec 18, 2012 9:14:50 PM

toadNY, I believe a depression. Its about time for another good one.
Profile Pic
BREW9
Champion Author Tampa

Posts:3,189
Points:3,412,900
Joined:Jun 2004
Message Posted: Dec 18, 2012 9:14:13 PM

yup
Profile Pic
PoohMcGoo
Champion Author Alabama

Posts:3,677
Points:1,209,085
Joined:Dec 2010
Message Posted: Dec 18, 2012 9:14:01 PM

Gold will drop too
Profile Pic
savannahoaks
Champion Author Rockford

Posts:4,906
Points:1,131,420
Joined:Mar 2011
Message Posted: Dec 18, 2012 9:13:48 PM

And 10% unemployment.
Post a reply Back to Topics