'Oil prices may rise as high as $105./barrel'

[Bluebear]

http://abcnews.go.com/Business/wireStory?id=629593

Mar 31, 2005 — 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....

Goldman Sachs bank <GS.N> said in a research report on Thursday that oil markets have entered a "super-spike" period that could see prices rising as high as $105 a barrel.

"We believe oil markets may have entered the early stages of what we have referred to as a "super spike" period — a multi-year trading band of oil prices high enough to meaningfully reduce energy consumption and recreate a spare capacity cushion only after which will lower energy prices return," Goldman's analysts wrote.
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Everyone is thrilled at the news!

[fob]

1. buhs*? Oh now I remember, the repukes who stole the 2004 election,

buhs*/cnehey 2040!

[Bluebear]

3. They would love to see the dynasty go to 2040!

Go, Jenna, go!

[fob]

7. It didn't translate well but that's supposed to be MY joke of them

"misspelling" the year 2004. I regret in any way bringing forth the notion of ANY bush* being in power for 1 nanosecond longer than is possible.

[Bluebear]

8. It translated fine :)

[frank frankly]

2. LOL!

YAY!

:party:

[doublethink]

4. So?

most of Europe pays like 5 maybe 6 bucks a gallon for gas. This otta piss off some SUV'ers .... I am sorry but I just have to laugh at those who put GWB back in office ... the Oil Companys Rule !!!! Un f ing real. Maybe it will drive us to look for alternitive fuel sources finally? Naw .... greed has prevailed once again. Can you say Peak Oil?
geesh .... LOVE THE PICTURES !!!!

[lastliberalintexas]

5. Europe

and the rest of the civilized world also has very good, inexpensive public transportation. This will hurt the poor and working class a great deal, and the ripple effect in our economy will be *tremendous*. Hyperinflation, anyone? It won't be just the SUV drivers who get f'ed at the drivethru.

[doublethink]

6. Ya think?

Yea I know .... this shit stinks. We're F ...ked. :argh: Keep the faith.

[Bluebear]

9. Record high today, $57.+...Wheeeee!