Think $100 A Barrel Oil Is Bad? Well $200 A Barrel May Be Around The Corner?

Think $100 A Barrel Oil Is Bad? Well $200 A Barrel May Be Around The Corner?
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.



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EnnNorakEnnNorak - 3/10/2008 12:00:15 PM
+2 Boost
$200 oil at current value of the dollar cannot be sustained for longer than a few years. It would then be much cheaper to make gasoline from coal and implement other energy strategies like lining the Nevada desert areas with solar cells.


w209w114w209w114 - 3/10/2008 12:18:54 PM
0 Boost
$200.00 a barrel is probably whats necessary for the U.S. government to take some REAL action against this situation. I hope it happens, it would be soooo interesting to see which heads will be rolling.


toolatetoracetoolatetorace - 3/10/2008 11:14:39 PM
+1 Boost
I'll raise you to 300.00


mini22mini22 - 3/10/2008 2:08:14 PM
+1 Boost
Assuming we have a democratic president and congress perhaps now some real clout and money will be put into alternative energy sources and the necessary infrastructure to make alternative energy sources viable. Also corn based Ethanol has got to change.


stonestone - 3/10/2008 3:10:32 PM
0 Boost
Or we could just drill in Alaska **ducks**


no1listensanywayno1listensanyway - 3/10/2008 6:00:58 PM
+4 Boost
That should be a LAST resort, lets take from everyone else first. *ducks* Dont forget, once Iraq gets stable, they have to pay us back somehow..


toolatetoracetoolatetorace - 3/10/2008 11:13:56 PM
+2 Boost
Yah ,your right , how about the poor kids just getting out of high school and are trying to put 25.00/ gal. gas in thier car in order to make 25.00


AMiodynskiAMiodynski - 3/10/2008 5:51:57 PM
+2 Boost
$200.00 a barrel.... Sounds like the Bush's are making more and more money !! 8 years ago, a barrel cost $25.00, now it's over a hundred....


mini22mini22 - 3/10/2008 6:33:51 PM
+3 Boost
First off drilling in Alaska would not potentially yield any results for about 10 yrs. Money could be better spent on alternative forms of energy and better ways to produce Ethenol other then corn based.There needs to lots of R & D money spent on other forms of commercial transport.Solar probably needs to come back in big way. But even alternative forms of energy will not necessarily be cheap. The point is to make a concerted effort to reduce our dependency on foreign oil.It's not just about cars and commercial vehicles it's also about basic energy to heat our homes that has to change. The govenment needs to encourage this NOW.However what would happen if eveyone decided to change the type of car they drive.no more big trucks and SUV's.Only small economical cars that got great gas mileage with a good mixture of hybrid and diesel cars.How would that change the landscape?


izfuneyizfuney - 3/10/2008 7:54:02 PM
+3 Boost
People tend to blame cars as the major consumers as car companies are easier to pressure, but its homes / electricity generation that chews oil/propane and other petroleum products. As long as we love our McMansions in burbia with its subdivisions we need an SUV/truck/van to haul junk to and fro.
Conservation will start when the govt unwinds the cold war strategic imperative to subsidize urban sprawl and subdivisions and focus around city centers that can support high density public transport.
But hey, thats a discussion for a different forum.



fuelfoolfuelfool - 3/10/2008 9:56:46 PM
+4 Boost
huu76 is absolutely correct. Iran is praying to Allah that Obama wins the election. Once Obama fulfills his promise to retreat from Iraq, Iran will be more than happy to fill the void, become the preemenent power in the Middle Eastl and form an unholy union with energy starving China, who will be happy to arm Iran in exchange for oil. Meanwhile, Russia will continue to hold Europe hostage to their need for Russian fuel and socialist madmen like Hugo Chavez will make even more oil money and wield even greater influence in South America. If you think gas is expensive now, think again. Unless Obama and the environmentalists agree to massively expand nuclear power in the US to a level seen in France or have figured out a way to harness the power of rainbows, they ought to rethink the whole Iraq retreat strategy. Then again, perhaps Obama knows something we don't. He did spend a whole year in the senate before he began running for president.


toolatetoracetoolatetorace - 3/10/2008 11:10:34 PM
+1 Boost
100-200-300-400-500 /// 10.00/ gal --20.00/ gal there Maybe before then JC will come and reclaim the earth and our problems will be over


Chaos29Chaos29 - 3/11/2008 1:49:01 AM
-2 Boost
The gov should add $2 a gallon tax now before the oil price actually goes up $2. Instead of waiting, make the money funnel back into our economy instead of the oil cartel. People will adjust to the higher tax. The tax collected goes back to building solar/wind energy and create jobs at finding alternative fuel.


truckmentruckmen - 3/11/2008 5:56:51 AM
+1 Boost
I love alternative energy! Bio fuels are not the way of the future! They just increase produce costs. Alternative energy for vehicles or homes should be 100% tax deductable! Alternative energy has been done already!


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