Libya's Ghanem says no surprise if oil hits $100

[SpikeTss]

Source: Reuters

LONDON (Reuters) - Oil prices, trading near a record high of $90 a barrel, could hit $100 because of political tension and speculation, the top oil official of OPEC member Libya said on Monday.

Oil touched an all-time high at $90.07 a barrel last week, supported by violence between Turkish soldiers and Kurdish guerrillas and a record low U.S. dollar. The price eased on Monday to $87.

"If this speculation and geopolitics continues, I won't be surprised if it reaches $100," National Oil Corporation chairman Shokri Ghanem told Reuters by telephone

...

Ghanem said that OPEC oil ministers would meet during the summit and that they were in touch about developments in the market. But he said he did not expect prices to remain at their current levels.

Read more: http://africa.reuters.com/business/news/usnBAN251110.html

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So, finally Libya has found a new way to damage us all. It's a new and more effective method of terrorism. Only now it's acceptable, because certain rich Western capitalists get a share of the overpriced oil prices the OPEC defines.

[Javaman]

1. Honestly, would anyone be surprised if it hit $100?

I wouldn't be surprised if it hit $110 or $120 by the end of the year.

[SpikeTss]

2. No one would

Because in our times greed knows no limits. Not in Libya and not among the CEOs of US corporations:

http://blogs.zmag.org/node/2954

[soothsayer]

3. The oil companies and terrorist-spawning saudis need more record

profits before their excellent little pawn leaves the WH.

[Orsino]

4. WHEN oil hits $100/bbl, not IF.

Come on, MSM. Think just a few years ahead.

[AndyTiedye]

6. We're Talking Days, Not Years

…as soon as Turkish troops cross into Iraq, oil will cross $100.

If Bush** invades Iran, you can double that.

[Orsino]

7. Uh-huh. And within a few years, it will never come back down.

Never.

[ClintonTyree]

5. "Political tension"........

created by......whom? Mr. "Big Oil" himself, George W. Bush.

Remember, he was going to "jawbone" the Saudis into "opening up the taps" because oil prices were just too darn high during the Clinton years. :eyes: There's never been a bigger liar and crook to disgrace the White House. Bush makes Nixon look like a freaking Boy Scout. :grr: