One year ago today the oil price was $147 per barrel. Oh, what a different world it was then pre-Lehman bankruptcy and the meltdown of September to October.Today the price of oil hovers around $62, a huge discount to last year, but nonetheless 100% up since the lows earlier in the year of $31 dollars.
These are indeed the ups and downs of the Assyrian Empire.
So in an extra special competition I want you to guess predict the price of Oil a year from today.
Anyone who gets it right (rounded down to the nearest whole dollar) wins that amount of Money from me this time next year.
So what do you think, deflation, hyperinflation or more of the same?
(Answers in the comments, competition entry closes midnight 8/7/09)
20 bucks
ReplyDelete102 dollars
ReplyDelete$108
ReplyDelete$2 more than whatever Nick says.
ReplyDeleteAlthough if he's not allowed to play, I'll plumb for $92.
$89 this time next year, $120 by the end of 2010.
ReplyDeleteIn "real" terms, $30
ReplyDeleteIn "nominal" terms, $62
I know I'm being a pedant, but my database shows CL peak just shy of 147 bucks on the 11th july 2008.
ReplyDelete$137
ReplyDelete55 dollars
ReplyDelete$48
ReplyDeleteIt won't be priced in dollars.
ReplyDelete$117 - a complete stab in the dark but £117 is about the minimum I'd bother coming over to London to collect from you.
ReplyDelete$99
ReplyDeletewith a flake in it.
Off topic - this made me laugh:
ReplyDeletehttp://tinyurl.com/lcl2va
Edindie - thanks for your vote of confidence, but ...
ReplyDelete$ 46
$200. there is trouble brewing in the Middle East
ReplyDelete$69
ReplyDelete4,000rmb
ReplyDeleteIf it drops below 38, Russia is in trouble.
ReplyDeleteThe price of oil will surely be whatever Gordon Brown (and his new best friend, Sarkozy) tells us it should be. He's going to abolish boom and bust in the commodity markets now.
ReplyDeleteThansk one and all...will have to remember to look this up in a years time!
ReplyDelete