CEO of Europe's largest energy company sees oil at $250 by 2009
 

http://www.telegraph.co.uk/money/mai.../bcngaz127.xml

Mr Miller expects increasing competition for the world's gas and other energy resources to drive oil to $250 a barrel next year.

http://en.wikipedia.org/wiki/Gazprom

Wow, that would really impact the global economy.

damn, it means cost of living gonna rise by 150% .. and I'll need to work even more to keep these standards?

Not surprised at all. Everything I have read tends to show how little ability there is right now to actually increase production at a pace that can keep up with rising demand from the developing world. It's good though, in the end, bring on the innovation and the electric car!

Considering speculation is driving this market - glad to see energy leaders jumping on board to keep that price going up up up!

Every market is driven by speculation, helloooooooooooooooooo. :)

Maybe you should write Bush and tell him to do something about those speculators.

Like that'll happen.

Congress has been holding hearings about reinstating regulation of the commodities market that had be derequlated in 2000.

$250 will be only the beginning.

Of course he does, he'd love to reap profits like that.