Jun 11 2008
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Oil $200 per Barrel, Gas $5.75 per Gallon - Forecast
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I just read a prediction by a respected Goldman Sachs energy analyst for oil to top off at $200 a barrel and gas to rise to $5.75 a gallon before consumption cools enough to lower prices.
This top analyst was quoted as saying: “Energy is in the later stages of a worldwide “super spike,” with the possibility of $150 to $200 a barrel oil likely over the next six to 24 months.”
The problem? Worldwide oil demand is growing regularly and supply is only growing moderately.
After oil prices jumped to $138/barrel over the weekend, they are expected to hit $150 by July. Crude oil on world future’s exchanges has more than doubled over the last year.
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