Andy Rowell - "Oil Price 'May Hit $200 A Barrel'"

"Do you remember the days when oil was only $100? Although there has been speculation in recent days concerning the oil price, one of the most authoritative predictions so far has the price of crude oil at $200 within as little as six months.

The prediction by Goldman Sachs was made as benchmark US light crude passed the $123 mark for the first time. Surging demand was increasingly likely to create a “super-spike” past $200 in six months-to-two years’ time, said Goldman Sachs.

Oil prices have now risen by 25% in the last four months and 400% since 2001. Soaring global demand for oil is being led by China’s continuing economic boom and, to a lesser extent, by India’s rapid economic expansion.

Both are now increasingly competing with the US, the European Union and Japan for the lion’s share of global oil production."

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Toban Black
(http://tobanblack.net/blog/?p=194)