$200 oil could happen this year!

[thewiseguy]

But nothing to worry about. McCain and Hillary's holiday gas tax relief will save us all! :sarcasm:

Analyst predicts $200 oil could happen this year
Tuesday May 6, 10:28 am ET
By Samantha Bomkamp, AP Business Writer
Goldman analyst predicts $150 to $200 oil could soon be reality, but peak price still unclear

NEW YORK (AP) -- A Goldman Sachs analyst predicts that oil prices could reach $150 to $200 a barrel over the next 6 months to two years, but said that how far prices could climb still "remains a major uncertainty."

http://biz.yahoo.com/ap/080506/oil_200.html?.v=3

[whistle]

1. George W. Bush's response was "I don't know of any $200 per barrel oil"

[thewiseguy]

2. lol. I dont think he cares.

[DJ13]

3. So can soup kitchens, famine, and a revolution

Its all up to the greed of the financial sector at this point.

[pbca]

6. None of that will change gas prices though n/t

[uponit7771]

4. The per barrel price will be 200$ for JUST AMERICA because of our dollar falling....

...falling due to stupid president borrowing more money than all other presidents COMBINED and Saudis reducing output despite Bush admin hand jo....hand holding.

[pbca]

5. As I just said elsewhere

Most drivers are still in denial. It is not going to change, gas prices aren't coming down ever - ethanol/biofuel is not really a solution and in light of the world food crisis should be banned. Cutting gas taxes isn't a solution: it might reduce prices by a few cents for a few days - at a cost of billions to government, but within a few weekes you wouldn't be able to tell that anything had been done.

It should also be said that people don't even have a real right to be angry. Anyone who was paying attention has known this was coming for 30 years now and no one did anything, because it wasn't something voters were interested in.

The reality is people have to stop commuting, get on busses and trains and get ready to give up their cars (unless they are very rich). People can rail against this all they like, they can remain in denial but it isn't going to change a thing - and any politician who tells you differently is lying.

The gas tax holiday won't change a thing - if oil companies are forced to pay the tax, they will raise prices

[thewiseguy]

7. I am not sure the current infrastructure could accomodate the switch

Trains, buses, and light rail services need to be be on the priority list for rebuilding and repair.

[pbca]

8. I don't think the current infrastructure can

but it's the best/only real option. Demand for oil is going up all over the world and supplies are running out. Even the oil companies can't really be blamed too much. They are making alot of money, but if you break it down they are only making a few cents on the gallon - they are just selling more gallons than ever before.

[Hugabear]

9. Could just as easily fall to $40 to $50

So says some idiot.

One contrarian analyst called that figure "laughable."

That analyst, Citi Investment Research's Tim Evans, asserted in a client note Tuesday that oil prices have the same potential to fall by $40 to $50 per barrel over the next 6 months to two years as to rise like Murti predicts.

[pbca]

10. RBC's analyst

(that's the Royal Bank of Canada) predicted $225 by the end of summer

[uponit7771]

11. Thanks to Bush spending spree our dollar isn't worth crap anymore, I don't see that happening

[WA98296]

12. Would that put the gallon at apx. $10?

[thewiseguy]

13. Maybe in Hawaii?

I would be surprised if the prices went above 7 for a gallon.

[uponit7771]

14. yeap, for about 3 months

[pbca]

15. kicking n/t