Goldman Forecasts $141 Oil For Second Half of Year

Saturday, May 17, 2008

Despite trying to convince the American people to the contrary, when it comes to oil prices, George W. Bush is just a Saudi appeaser.

Goldman Sachs, the most active investment bank in energy markets, on Friday sharply raised its forecast for oil prices in the second half of this year, citing tight supply.

The bank expects U.S. crude to average $141 a barrel in the second half of 2008, up from a previous projection of $107, it said.

Goldman, one of the first to point to triple-digit oil more than two years ago, a once unthinkable level, said oil could shoot up to $200 within the next two years.

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9 Responses to Goldman Forecasts $141 Oil For Second Half of Year

  1. feminazi says:

    I can’t afford these prices. I’m retired, living on a small pension and Social Security. I have a small, 4 cylinder car I bought in 2002. These prices are not reasonable and I can only shift things around so much with the income I have to work with.

  2. RainBro says:

    I’d buy a horse – if only grain prices were stable.
    (pun intended). But seriously…
    It used to be “Blood For Oil” now it’s:
    “Food For Oil” …
    I think that proves they’re vampires…

  3. TOM339 says:

    $200 a barrel oil could result in one of two things:

    1. a protract, global recession with the U.S. at the center. Social fabric breaks down as goods and services like the delivery of food and medicine become so costly that we see rioting in the streets and a collapse of the government, or:

    2. the U.S. military invading oil producing nations and basically turning them into American controlled republics.

    Either way, the future is looking increasingly grim for this country.

  4. Woodcliffe says:

    I think the USA would drop an atomic bomb on the Middle East before allowing oil to reach $200 a barrel.

    If it comes down to the argument between letting OPEC rape us or destroying OPEC, trust me, corporate America and the globalists will return the region to the 5th century.

  5. our addiction to this stuff is gonna be our downfall — not that bush cares — he has he millions.

    after oil the next big “liquid” crisis — potable water — that is coming soon

  6. Larry says:

    We will be in a Depression before Obama gets a chance to fix this mess.

  7. libhomo says:

    Why aren’t politicians in both parties doing more to promote public transportation?

  8. Jenna Bush Stole My ID says:

    I like public transportation. I would ride it to work if we had it where I live. But, the morons in this region keep voting it down.

    The reason? They’re duped into thinking public transportation is a communist plot to take away their SUVs. Bright, huh?

  9. libhomo says:

    That reminds me of how the peninsula area south of SF originally rejected the BART rail system. They regretted it after the system was built and had to pay much more to build it later.

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