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GasBuddy News Article

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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 ...


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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
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remay
Champion Author Houston

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Message Posted: Dec 19, 2012 12:38:32 PM

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...
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BEGTWO
Champion Author Maryland

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Message Posted: Dec 19, 2012 8:02:30 AM

Invest in Gold!
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1006
Champion Author Birmingham

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Message Posted: Dec 19, 2012 7:02:21 AM

we will stay tuned
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Zonk
Champion Author Michigan

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Message Posted: Dec 19, 2012 12:30:02 AM

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

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Message Posted: Dec 19, 2012 12:27:29 AM

wait and see
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RevDrCBJ
Veteran Author Ann Arbor

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Message Posted: Dec 19, 2012 12:27:04 AM

Hmmm. . .
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wshokie12
Champion Author Winston-Salem

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Message Posted: Dec 19, 2012 12:24:36 AM

We will see...
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boatfloyd
Champion Author Jacksonville

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Message Posted: Dec 19, 2012 12:13:02 AM

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

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Message Posted: Dec 19, 2012 12:12:02 AM

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

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Message Posted: Dec 19, 2012 12:09:12 AM

Seeing is believing.
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Rooster922
Champion Author Wilmington

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Message Posted: Dec 19, 2012 12:08:27 AM

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

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Message Posted: Dec 19, 2012 12:08:17 AM

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

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Message Posted: Dec 19, 2012 12:07:01 AM

Maybe if obummer destroys the economy.
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pilotmass
Champion Author Boston

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Message Posted: Dec 19, 2012 12:06:26 AM

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

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Message Posted: Dec 19, 2012 12:06:01 AM

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

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Message Posted: Dec 19, 2012 12:05:26 AM

Another crystal ball.
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rahcat
Champion Author Grand Rapids

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Message Posted: Dec 19, 2012 12:05:13 AM

We can only hope.
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bridgerunner
Champion Author Virginia

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Message Posted: Dec 19, 2012 12:03:41 AM

Time will tell.
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Tsunamiron
Champion Author Jacksonville

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Message Posted: Dec 19, 2012 12:03:04 AM

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

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Message Posted: Dec 19, 2012 12:02:46 AM

We'll see
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cheaper0ON
Champion Author Ontario

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Message Posted: Dec 19, 2012 12:02:07 AM

Interesting.
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planoiceman
Champion Author Dallas

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Message Posted: Dec 19, 2012 12:01:47 AM

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

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Message Posted: Dec 18, 2012 11:59:51 PM

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

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Message Posted: Dec 18, 2012 11:59:49 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?
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Alanj44
Sophomore Author Birmingham

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Message Posted: Dec 18, 2012 11:55:11 PM

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

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Message Posted: Dec 18, 2012 11:54:01 PM

Bring it on
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exilion
Champion Author Missouri

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Message Posted: Dec 18, 2012 11:53:33 PM

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

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Message Posted: Dec 18, 2012 11:52:53 PM

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

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Message Posted: Dec 18, 2012 11:51:26 PM

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

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Message Posted: Dec 18, 2012 11:44:21 PM

Interesting.
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GigHarborHound
Champion Author Tacoma

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Message Posted: Dec 18, 2012 11:42:40 PM

That will be the day!!
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jrsva
Champion Author Virginia

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Message Posted: Dec 18, 2012 11:37:17 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.
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bvrbill
Champion Author Eugene

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Message Posted: Dec 18, 2012 11:36:19 PM

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

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Message Posted: Dec 18, 2012 11:35:45 PM

speculation
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tidalwave3
Champion Author Tallahassee

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Message Posted: Dec 18, 2012 11:34:03 PM

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

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Message Posted: Dec 18, 2012 11:33:26 PM

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

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Message Posted: Dec 18, 2012 11:31:53 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.
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truckguy115
Champion Author Orange County

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Message Posted: Dec 18, 2012 11:27:44 PM

yeah good luck with this one.
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shea33
Champion Author Pensacola

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Message Posted: Dec 18, 2012 11:27:36 PM

Is it what the economy really needs? Too much stuff dropping isn't always good
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TheSnowstorm
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Message Posted: Dec 18, 2012 11:24:54 PM

txkrb: Nice post.
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mcmonsta
Champion Author Honolulu

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Message Posted: Dec 18, 2012 11:19:42 PM

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

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Message Posted: Dec 18, 2012 11:19:37 PM

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

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Message Posted: Dec 18, 2012 11:19:13 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
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mstearno
Champion Author Dayton

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Message Posted: Dec 18, 2012 11:17:47 PM

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

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Message Posted: Dec 18, 2012 11:16:37 PM

ok.
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abcdMA
Champion Author Worcester

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Message Posted: Dec 18, 2012 11:15:00 PM

if on this were true
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WIPACKERFAN
Champion Author Chicago

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Message Posted: Dec 18, 2012 11:14:50 PM

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

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Message Posted: Dec 18, 2012 11:14:13 PM

yup
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PoohMcGoo
Champion Author Alabama

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Message Posted: Dec 18, 2012 11:14:01 PM

Gold will drop too
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savannahoaks
Champion Author Rockford

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Message Posted: Dec 18, 2012 11:13:48 PM

And 10% unemployment.
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