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Oil to jump to $US105
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| malek |
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... |
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| 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| |
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| malek |
| 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| |
hippie :tongue2 |
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| biznology |
| quote: | Originally posted by malek
hippie :tongue2 |
yeah i live in boulder ing 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)| |
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| Shakka |
| Henry Blodget anyone? |
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| colonelcrisp |
| 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......... |
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| Lateralus |
| I see capturing those oil feilds in Iraq did a whole lot of good... :rolleyes: |
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| ZeroVII |
It's just ridiculous.
I can't believe it's that expensive! |
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| trance85 |
| quote: | yeah i live in boulder ing 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)| |
Ha I got into CU but decided to go to CSU. Stupid hippy tree-hugging fags up at CU :haha: :stongue:
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 :nervous: |
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| ogvh5150 |
| quote: | Originally posted by Lateralus
I see capturing those oil feilds in Iraq did a whole lot of good... :rolleyes: |
That oil was not meant for us. |
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| biznology |
| quote: | Originally posted by trance85
Ha I got into CU but decided to go to CSU. Stupid hippy tree-hugging fags up at CU :haha: :stongue:
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 :nervous: |
which do you prefer? the stupid in staters or hippie-wannabe out of staters! lol, not really.
i didnt go to CU and grew up in Boulder...you see thru most of the bull after this long. too bad boulder is a better city with the bull than the Fort. haha| |
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| St_Andrew |
| funny thing is that its still like 2 times as expensive in europe! |
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