Quote:
Originally Posted by GatorB
Some gems of wisdom from some dude
Why $120 oil is good
The problem, he says, is new discoveries of crude in non-OPEC areas like the United States, the North Sea, and Russia have not kept pace with the oil being removed from those places. OPEC, which holds two thirds of the world's crude oil reserves, has seen no drop in global demand despite $120 oil and has little incentive to increase output.
It's this supply problem that prompted analysts at Goldman Sachs to reaffirm their prediction of a so-called "super spike" in oil prices - which could usher in $200-a-barrel crude in the next 6 to 24 months.
"I've long said maybe the best thing that could happen to this country is to have $6 gasoline," he said
http://money.cnn.com/2008/05/07/news...ion=2008050812 |
I am buying electric car.
gas will never ever again go under 3.50 a gallon. ever.