• musclemecca does not sell or endorse any bodybuilding gear or products.
    Musclemecca has no affiliation with advertisers; they simply purchase advertising space here. If you have questions go to their site and ask them directly.
    Advertisers are responsible for the content in their forums.

Goldman Sachs raises possibility of $200 a barrel oil

F

Flash

Well-known member
Member
Joined
Jan 4, 2007
Messages
77
Points
6
Goldman Sachs raises possibility of $200 a barrel oil

Steve Gelsi
MarketWatch
Saturday, March 8, 2008

Flashback: $200 Dollar a Barrel Oil Is Bilderberg Plan To Destroy Middle Class

With $100-a-barrel here for now, Goldman Sachs says $200 a barrel could be a reality in the not-too-distant future in the case of a "major disruption."

Goldman on Friday also boosted by $10 the low end of its 2008-2012 projected range for crude to $60 a barrel -- significantly lower than current prices, to be sure, but a possible mark for oil if "normalized" trends return to the marketplace.

With the dollar's fall continuing and financial markets roiled by the credit crunch, commodities like oil have been drawing the fancy of increasing numbers of investors. Accordingly, Wall Street firms have been eager to adjust forecasts to incorporate fresh data on the global economy and energy supplies.

Goldman analysts Arjun Murti, Kevin Koh and Michele della Vigna said prices have advanced more quickly than Goldman had forecast back in 2005, when it predicted a range of $50 to $105 a barrel as part of its "super-spike" oil theory.

"We characterized the upper end of the band as more likely to be driven by geopolitical turmoil and that recession was a key risk to our view," the analysts said. "In fact, oil prices have reached $100 a barrel without extraordinary turmoil, and the U.S. currently appears to be in recession."

Tacking on $15 a barrel to all of its oil estimates, Goldman now sees average selling prices of $95 a barrel for 2008, $105 a barrel for 2009 and $110 a barrel for 2010. The high end of its range is now $135 a barrel -- but Goldman hinted that prices could be headed even higher.

"As the lack of supply growth and price-insulated non-OECD demand suggest a future rebound in U.S. gross domestic product growth or a major oil supply disruption could lead to $150-$200 a barrel oil prices," Goldman said.

While saying it has a bullish long-term outlook, Goldman acknowledged that oil prices could correct from recent highs.
 
lifterdead

lifterdead

Mecca V.I.P.
VIP
Joined
Sep 23, 2006
Messages
1,701
Points
38
Goldman Sachs says $200 a barrel could be a reality in the not-too-distant future

Not "could be a reality" but a "you bet your ass" oil will reach $200 a barrel in the next 5-6 years.


Not many people understand the current state of oil production. Check out the ASPO, http://www.peakoil.net/ a group run by geologists, many of whom used to work for oil companies. The price of oil has only one way to go: UP.
 
Robcardu

Robcardu

Mecca V.I.P.
VIP
Joined
Jul 11, 2006
Messages
11,013
Points
38
it could be true these days, if things dont change that price will keep going up.
 
T

Tonka

Mecca V.I.P.
VIP
Joined
Sep 21, 2006
Messages
1,026
Points
36
And the World powers will never give up oil till its used to the last drop for money. We already have the technology for water fueled vehicles.
 
lifterdead

lifterdead

Mecca V.I.P.
VIP
Joined
Sep 23, 2006
Messages
1,701
Points
38
We already have the technology for water fueled vehicles.

Not to be picky (I'm not slamming you or anything) but water, although it technically can be used as a fuel, isn't a fuel. Before it can be used it requires massive inputs of energy, which means that water isn't actually a source of energy, just a medium to hold it in.


http://en.wikipedia.org/wiki/Water-fuelled_car
 
Top