Goldman ups top of 'super OIL spike' range est to $105/bbl (Peak Oil) [View All]

[cthrumatrix]

Goldman ups top of 'super spike' range est to $105/bbl

NEW YORK (MarketWatch) -- Goldman Sachs believes the oil markets have entered the early stages of a "super spike" period, which Analyst Arjun Murti defines as a band of oil prices that could be high enough to reduce energy consumption substantially and create a spare capacity cushion that could reduce energy prices return. Murti increased his super spike range to $50 to $105 per barrel from $50 to $80 per barrel. He also increased his 2005 forecast for West Texas Intermediate oil to $50 per barrel from $41 and his 2006 estimate to $55 per barrel from $40. Murti recommends adding to positions in the oil sector "at current prices, on a pullback, or even after rallies," and raised 2005 and 2006 earnings estimates across the board.

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http://cbs.marketwatch.com/news/newsfinder/pulseone.asp?dateid=38442.3828862616-833716017&siteID=mktw&scid=0&doctype=806&

Get ready for OUR "culture of life" to do down the shitter because OUR GOVT leaders have ingored this oil issue for the past 30 years.

The US citizens are like a "frog in hot water"...ready to boil.