Oil price could hit $150 within five years, says Guinness (heh. ya think?)

[phantom power]

Is this all it takes to make the big bucks? I wasted my time with all that tedious and expensive education.

Experienced commodity investor Tim Guinness expects the oil price will hit $150 a barrel in the next five to 10 years before a demand shock reverses the current trend of increasing prices.

Guinness, lead manager on the recently launched Guinness Asset Management Global Energy fund as well as a raft of other propositions, said the price of the 'black gold' would continue to grow in the long term, with OPEC managing it up steadily until it reached a level where demand was curbed by steep prices.

He said: ‘The oil price is currently at around $106 a barrel, but energy demand from emerging economies is a near irresistible force, and we are unlikely to see a curbing of demand without a $150-$200 spike.’

Mapping out the investment case for his latest venture, Guinness noted that OPEC had managed to build in an average increase in price of roughly $10 a year without causing demand to fall, a factor which supported investment into oil producers.

http://www.citywire.co.uk/professional/-/news/fund-news/content.aspx?ID=300587

[kestrel91316]

1. I give it a year. But then, I am assuming Bush is going to poison the well

by attacking Iran either right before the election, or right before the inauguration.

[phantom power]

2. I'll be shocked if it takes 5 years...

and I don't think it will require an attack on anybody. Just the increasing competition, the export collapses, and the devaluing dollar will get us there plenty fast.

[Zachstar]

9. China is growing at such a rapid rate I give it around 1.5 years till we get past 150 USD

I am glad that I am not planning on a gas car as my next car. Looking forward to a CityZENN!

Cheap oil is a thing of the past now.

[jpak]

3. $150 for a barrel of Guiness???

Bring it...

:beer:

[phantom power]

4. The thought of Peak Beer saps my will to live...

Eat, drink and be merry, for tomorrow we'll be dry.

:beer:
:beer:
:beer:

[jpak]

5. I myself am an unbashed Peak Beer Cornicopian

although I've been told there is none in heaven....

:evilgrin:

[phantom power]

6. Well, there is Thomas Gold's lesser-known Abiogenic Beer theory...

where beer wells up from the earth's mantel, produced by primitive extremophile yeast.

Hey, it could be real.

[jpak]

7. (((((running to garage to get shovel))))))

dig

dig

dig

:evilgrin:

[Nihil]

8. Heretic!

Beer comes from the Heavens not from the Nether Regions (unless you like lager).

You are also forgetting the PanBeeria theory of how the nectar fell from
the sky after travelling across the galaxy ...