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Oil: the party is over *LINK*

Posted By: kristine
Date: Wednesday, 19 April 2006, at 12:21 a.m.

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.

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Messages In This Thread

Oil: the party is over *LINK*
kristine -- Wednesday, 19 April 2006, at 12:21 a.m.

Gas Hits $4.50 Per Gallon In NYC... *LINK*
kristine -- Wednesday, 19 April 2006, at 3:26 p.m.

Drivers Turn To Pawn Shops For Gas Money *LINK*
kristine -- Saturday, 22 April 2006, at 2:31 p.m.

At $3 a gallon, the Americans are squealing . . . *LINK*
kristine -- Sunday, 23 April 2006, at 6:28 p.m.

. . . as Britons are facing £1 a litre *LINK*
kristine -- Sunday, 23 April 2006, at 6:31 p.m.

Chevron Earnings Soar 49 Percent to $4B *LINK*
Ayinde -- Saturday, 29 April 2006, at 3:55 p.m.

most corrupt period in human history?? *NM*
three_sixty -- Sunday, 30 April 2006, at 7:05 p.m.

most corrupt period in human history?!?!?...when?
discipleofthenile -- Sunday, 30 April 2006, at 10:44 p.m.

Re: most corrupt period in human history?!?!?...wh
three_sixty -- Sunday, 30 April 2006, at 11:15 p.m.

Ummm...try the Trans-Atlantic Holocaust
discipleofthenile -- Monday, 1 May 2006, at 1:10 p.m.

Re: Ummm...try the Trans-Atlantic Holocaust
three_sixty -- Monday, 1 May 2006, at 4:20 p.m.

jews a distant third, the indigenous #2 *NM*
jahreal -- Monday, 1 May 2006, at 4:31 p.m.

hotep for the correction!!! *NM*
discipleofthenile -- Monday, 1 May 2006, at 11:03 p.m.

Re: Oil: the party is over
discipleofthenile -- Saturday, 29 April 2006, at 6:16 p.m.

blame it on Chavez *LINK*
three_sixty -- Sunday, 30 April 2006, at 7:03 p.m.

Re: blame it on Chavez
jahreal -- Sunday, 30 April 2006, at 7:37 p.m.

Re: blame it on Chavez
three_sixty -- Sunday, 30 April 2006, at 11:20 p.m.

true iya, rass out bully liars! *NM*
jahreal -- Monday, 1 May 2006, at 10:21 a.m.

As gas prices rise, Exxon posts $8.4B profit *LINK*
Ayinde -- Sunday, 30 April 2006, at 8:41 p.m.

Re: Oil: the party is over *NM* *LINK*
seshatasefekht -- Sunday, 30 April 2006, at 9:26 p.m.

Republican Rhetoric; Democratic Cluelessness *LINK*
kristine -- Monday, 1 May 2006, at 2:18 p.m.