$200 oil prediction

  • Will take place on June 21, 2010
  • Quoted on May 06, 2008
  • Countdown 1 Year 7 Months Left
  • Votes 78
  • Chance 89.7 %
  • Influence 312

NEW YORK (AP) -- Oil futures blasted to a new record near $123 a barrel Tuesday, gaining momentum as investors bought on a forecast of much higher prices and on any news hinting at supply shortages. Retail gas prices edged lower, but appear poised to rise to new records of their own in coming weeks.

A new Goldman Sachs prediction that oil prices could rise to $150 to $200 within two years seemed to motivate much of Tuesday's buying, although a falling dollar and increasing concerns about declining crude production in Mexico and Russia contributed, analysts say.

By

Goldman Sachs

Source

http://biz.yahoo.com/ap/080506/oil_prices.html

Semantic Analysis

goldman sachs

Comments

Im afraid this might happen sooner than we think

Tom K6/5/2008 3:47:33 PM

$4 a gallon here in phoenix this is insane! guess ill have to cancel my summer vacation.

Ryan6/9/2008 7:51:15 PM

$4 - $5 gas prices will be the norm in coming years.

Elsie Mcglothlin6/15/2008 8:59:46 PM

$50-$100 fillups twice a week are no joke. But change is coming.

Bernard6/16/2008 3:44:45 PM

Bush's "energy policy" was as sound as the declining U.S. Dollar. He made sure all his buddies in the Oil Business made fantastic profits and salaries. He did his job well, the GOP should be proud. As for we mortal Americans, we got the Royal Bush Shaft, and deservingly so, we voted for this idiot, twice no less.

Daniel Walker6/16/2008 5:54:49 PM

So, for the sake of the Al Gore and the democrats, Oil producers are the enemy. Therefore, the demoncrats vote "no" on ANWR, "no" on coal to gasoline, "no" to new refinery capacity, "no" to new production on the continental shelfs and "no" on oil shale production. The only thing they have advocated thus far is more ethanol production as that helps their constituencies. However, ethanol is just as dirty as oil and has created havoc with our food prices. So much for forward looking thinking from the democrats. And, these are the nuts you are going to vote in????

Therefore, when we have less production and the price spikes, the clowns then spin the problem onto Bush-Cheney and claim that Iraq is the source of our energy problems or that somehow they want the price to up even the US is 70%dependent on imported oil. For the record, today's Iraqi oil production is slightly higher than it was prewar. When it comes to Oil price spikes, the democrats have only themselves to blame.

Ruth Harter6/16/2008 6:15:08 PM

The reason gas prices are up is because of speculative trading, NOT because of energy policies or global warming. It's premised upon the fact that there is a LIMITED SUPPLY of oil in the earth; oil is a FINITE resource, and NOT an INFINITE resource.

The other day, I was talking with some friends and they said they are planning on trading in their SUV for a car, NOT because of global warming or oil being a limited resource, but BECAUSE they were tired of sending their money off to hostile, foreign countries.

Frodo6/16/2008 6:37:29 PM

I don't care who is president. I just wanna be able to afford gas. this is getting rediculous

Kari Hambright6/16/2008 8:40:22 PM

Finally congress is doing something

http://money.cnn.com/2008/06/17/news/economy/oil_trading/index.htm?cnn=yes

Frodo6/17/2008 2:09:09 PM

what happened to this site? it disappear for days

Charles Williams6/28/2008 9:03:22 PM

Looks like oil prices are going down, don't know if it will last.

Ryan8/1/2008 9:15:36 PM

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  • Duration2 Years 1 Month
  • Hits2434
  • Total Connections2
  • Total Comments11
  • Rating0.0
  • Submitted byFrodo