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.