Oil Surges $2 on 'Super-Spike' Prediction - Goldman Sachs says $100 bbl.

[cthrumatrix]

Oil Surges $2 on 'Super-Spike' Prediction

41 minutes ago Business - Reuters



LONDON (Reuters) - Oil hurtled back up to $56 a barrel on Thursday as Goldman Sachs bank, the biggest trader of energy derivatives, said prices could ultimately surge all the way above $100.




The Goldman Sachs report strengthened gains driven by a fall in U.S. gasoline stocks and fresh buying from investment funds as the dollar weakened.


U.S. light crude jumped $2.11, or 3.9 percent, to a high of $56.10 a barrel, within $1.50 of a $57.60 record high struck on March 17.

http://news.yahoo.com/news?tmpl=story&u=/nm/20050331/bs_nm/markets_oil_dc_16

now we can all go back to "working the land"...becuase not many people can afford $4 - $5 gasoline.

[MissB]

1. Oh this will be fun.

Eeks.

[KlatooBNikto]

2. I am looking forward to a new fuel mortgage plan by Goldman Sachs,

In this plan, you get a free car if you sign a $100,000 mortgage for fuel payable in 7-8 years. At a nominal interest of 18% of course.

[K-W]

3. The republicans must be pissing themselves.

They need an oil crisis going into '06 like they need pro-life groups handling thier public relations.

[charlie]

5. Part of me

always wondered why they didn't throw this election and let a Democrat take the rap. Any fool could see this shit was coming.

[12345]

7. might not be able to invade Iran then...

[Done]

4. It's a good thing for * that oil price stayed down until after election

Only a coincidence.

[beyurslf]

6. Fill up today. Gas will spike tomorrow!

[Nickster]

9. It spiked for me last night actually, everything went up to 2.29 for

regular on the way home from work. On the way in to work it was 2.13. Of course, this news will make it spike again. YAY! Time to start looking for a bicycle I guess.

[beyurslf]

10. They have actually gotten consistent here. It spikes every Thurs night or

Fri morning. And pretty much falls from Sun through sometime on Thurs. I fill up every Thurs morning before I go to class no matter how much I have in the tank. Last Fri we jumped 14 cents. We're at 2.13-2.15 now. Last Fri was 2.21 I think. I figure tomorrow will go to 2.25 or more.

[cthrumatrix]

8. funny how Goldman does not say "peak oil"...which does not end

[dubyaD40web]

11. Have you noticed how fast it goes up....

and how it takes forever to go back down regardless of the price per barrel?

I love giving the repukes shit by saying "It's a good thing we've got a former oil-man in the White House, right?"

They're completely speechless.

[cthrumatrix]

12. for the past 30 years...they knew peak oil was coming

[madrchsod]

13. gee -could they be running up the prices ?

the sky is falling!! the sky is falling!! give us more money!
there is still alot of oil left but it`s just going to cost alot to get to.