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Oil: the party is over *LINK*

Oil: the party is over
Gwynne Dyer

Welcome to the world of US$70-per-barrel oil. That's if there is no crisis in the Gulf over Iran's nuclear ambitions. If there is, then get ready for US$140 a barrel. Oil briefly breached the US$70 barrier eight months ago, but this time it is going up for good.

Exactly one year ago the investment bank Goldman Sachs put out a paper suggesting that the "new range'' within which oil prices will fluctuate is US$50-US$105 per barrel. (The old range, still used by most of the oil industry when deciding if a given investment will be profitable, was US$20-US$30.) The price could surge well past the upper end of the Goldman Sachs range if the United States actually does launch military strikes against Iran, but it's going up permanently anyway.

Messages In This Thread

Oil: the party is over *LINK*
Gas Hits $4.50 Per Gallon In NYC... *LINK*
Drivers Turn To Pawn Shops For Gas Money *LINK*
At $3 a gallon, the Americans are squealing . . . *LINK*
. . . as Britons are facing 1 a litre *LINK*
Chevron Earnings Soar 49 Percent to $4B *LINK*
most corrupt period in human history?? *NM*
most corrupt period in human history?!?!?...when?
Re: most corrupt period in human history?!?!?...wh
Ummm...try the Trans-Atlantic Holocaust
Re: Ummm...try the Trans-Atlantic Holocaust
jews a distant third, the indigenous #2 *NM*
hotep for the correction!!! *NM*
Re: Oil: the party is over
blame it on Chavez *LINK*
Re: blame it on Chavez
Re: blame it on Chavez
true iya, rass out bully liars! *NM*
As gas prices rise, Exxon posts $8.4B profit *LINK*
Re: Oil: the party is over *NM* *LINK*
Republican Rhetoric; Democratic Cluelessness *LINK*


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