Oil prices continue to defy gravity, somebody said US$200?

Pin It

May 07 2008
Linked In

Whoa! Oil prices soared nearing the $123 a barrel, just 7 bucks away from my prediction that the black-gold should find little obstacles to reach the $130 a barrel. For punters who wish to see the oil prices go up, they can surely rely on Nigeria – Africa’s largest oil producer and a major U.S. supplier. Every now and then you can hear reports of militant group creating havoc by disrupting the supply which bring me to wonder if there’re invincible hands that somehow control these bunch of people, hoping to profit from the rise of oil prices.

Don’t tell me there’s no way to terminate these groups of military gangster once and for all, unless they’re useful to perform some guerilla-warfare-type of disruption for obvious reason. But wait, there’re even crazier people – Goldman Sachs & Co. predicted that oil prices could rise to US$150 to US$200 within two years, beating my prediction of $130 a barrel *Damn*. The U.S. Energy Information Administration’s report on fuel inventories Wednesday would either push the oil prices to another new record or send it down temporarily.

So, the state-controlled Petronas is celebrating because their profit and thus fortune has just increased. How they wish they don’t have to subsidize the local usage. But then it would give them every reason to send the profit into the black-hole.

Other Articles That May Interest You …

Pin It

FinanceTwitter SignOff
If you enjoyed this post, what shall you do next? Consider:

Like FinanceTwitter Tweet FinanceTwitter Subscribe Newsletter   Leave Comment Share With Others


Add your comment now.

Leave a Reply


(required)(will not be published)