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Oil to jump to $US105
Oil to jump to $US105: analyst
April 01, 2005
From: Reuters
A LEADING investment bank has warned oil could hit $US105 per barrel, which would spread ruin through the US stock market, analysts said overnight.
Since the start of the year, oil has risen more than 25 per cent to near $US56 a barrel. Overnight, Goldman Sachs issued research saying oil markets have entered a "super-spike" period that could see prices go as high as $US105.
Goldman also raised its 2005 and 2006 New York Mercantile Exchange crude price forecasts to $US50 and $US55, respectively, from $US41 and $US40. A Reuters poll showed that analysts on average expected a mean price for 2005 of $US45.49 a barrel.
The analysts revised their super-spike range to $US50-$US105 per barrel from $US50-$US80 previously, noting demand and economic growth in the United States and China especially.
While oil companies benefit from rising crude prices, airlines have warned of fuel costs.
Airline industry analyst Robert Mann said the consequences of oil reaching $US105 would be so disastrous to the US economy that it is difficult to isolate the airline industry within that scenario.
"It's bigger than that," he said. "I think it would ruin the economy. It would be catastrophic."
However, Tom Bentz, an analyst at BNP Paribas Commodity Futures Inc., said $US100 oil "is possible, but anything is possible.
I hope its not a 1st of April joke...
speculation...quite a whore.
the 80 buck price point is more likely, but as they said itd take some sort of major event.
personally, it would suck. but i dont really care. i think its necessary - even if to just push new tech.
plus i ride my bike to work. makes me feel a bit Mark Wahlberg from I <3 Huckabees...
tho i cant believe i actually whipped out the heart icon. how lame|
| quote: |
| Originally posted by biznology speculation...quite a whore. the 80 buck price point is more likely, but as they said itd take some sort of major event. personally, it would suck. but i dont really care. i think its necessary - even if to just push new tech. plus i ride my bike to work. makes me feel a bit Mark Wahlberg from I <3 Huckabees... tho i cant believe i actually whipped out the heart icon. how lame| |
| quote: |
| Originally posted by malek hippie |
Henry Blodget anyone?
if gas hits that price, it will just make it more fun for me to cruize around in my gas guzzling american muscle car someday and flash my wealth by being able to afford to fill up a nice big 80 litre tank once a day.........
I see capturing those oil feilds in Iraq did a whole lot of good... 
It's just ridiculous.
I can't believe it's that expensive!
| quote: |
| yeah i live in boulder fucking colorado. even if i burned down trees and threw all my trash on the ground id still be labeled a hippie... until youve seen *real* hippies...(they smell btw)| |
| quote: |
| Originally posted by Lateralus I see capturing those oil feilds in Iraq did a whole lot of good... |
| quote: |
| Originally posted by trance85 Ha I got into CU but decided to go to CSU. Stupid hippy tree-hugging fags up at CU But seriously this sucks if its real. I take the bus to school since there's never anywhere to park here, but I'm gonna be moving to Denver over the summer and will have to drive more |
funny thing is that its still like 2 times as expensive in europe!
http://www.tranceaddict.com/forums/showthread.php?s=&threadid=252426
| quote: |
| THE END OF SUBURBIA: Oil Depletion and the Collapse of The American Dream The Oil Shock is here and way of life in the West is about to be radically transformed: �Since World War II North Americans have invested much of their newfound wealth in suburbia. It has promised a sense of space, affordability, family life and upward mobility. As the population of suburban sprawl has exploded in the past 50 years, so too the suburban way of life has become embedded in the American consciousness. Suburbia, and all it promises, has become the American Dream. But as we enter the 21st century, serious questions are beginning to emerge about the sustainability of this way of life. With brutal honesty and a touch of irony, The End of Suburbia explores the American Way of Life and its prospects as the planet approaches a critical era, as global demand for fossil fuels begins to outstrip supply. World Oil Peak and the inevitable decline of fossil fuels are upon us now, some scientists and policy makers argue in this documentary. The consequences of inaction in the face of this global crisis are enormous. What does Oil Peak mean for North America? As energy prices skyrocket in the coming years, how will the populations of suburbia react to the collapse of their dream? Are today's suburbs destined to become the slums of tomorrow? And what can be done NOW, individually and collectively, to avoid The End of Suburbia ? Duration: 78 minutes� |
I just paid $31.31 to fill up my tank. Most expensive fill up ever. Granted, I put in the good stuff in, but still; regular unleaded was $2.18/gal. Thank goodness the wife just got a new job that lets her work from home!
| quote: |
| Originally posted by St_Andrew funny thing is that its still like 2 times as expensive in europe! |
| quote: |
| Originally posted by ogvh5150 Wasn't there a gas strike in europe a few years ago? |
Or maybe it was going to happen but never came to fruition.
Too bad no one will ever gas strike here.
my fill up costs me 48.60$ US!!!
| quote: |
| Originally posted by ogvh5150 Or maybe it was going to happen but never came to fruition. Too bad no one will ever gas strike here. |
http://www.snopes.com/politics/business/nogas.asp
The Gas Mafia.
| quote: |
| Originally posted by ogvh5150 Wasn't there a gas strike in europe a few years ago? Oh yeah Wolfowitz is head of the World Bank. As if that was timed perfect. |
^just what I was gonna say
UK Average (super unleaded) 86.9(litre) 395.1(gal)
and thats uk money so say 7.42267 USD per gal!
You whinging bitches! lol
>>>Know how we love our sources here<<<
(I don't own a car so I don't care, just affects basicly everything I buy though.... 
)
EDIT:
And on the plus side since most of our cost is in tax the actual price of fuel doesn't affect us so much.... 
| quote: |
| Originally posted by Dervish ^just what I was gonna say UK Average (super unleaded) 86.9(litre) 395.1(gal) and thats uk money so say 7.42267 USD per gal! You whinging bitches! lol >>>Know how we love our sources here<<< (I don't own a car so I don't care, just affects basicly everything I buy though.... )EDIT: And on the plus side since most of our cost is in tax the actual price of fuel doesn't affect us so much.... |
| quote: |
| Originally posted by occrider http://www.snopes.com/politics/business/nogas.asp |
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