$200 Barrel of Oil?
OIL briefly reached another record on Tuesday May 6th as West Texas Intermediate traded at over $122 a barrel for the first time. Ten years ago a barrel fetched around $15. The feeble dollar, soaring demand and supply constraints have all helped to push up prices by 25% in the past four months alone. And there is little sign of respite for worried governments and consumers. This week Goldman Sachs, a bank, predicted that oil could reach $200 a barrel before the end of the year.
OIL briefly reached another record on Tuesday May 6th as West Texas Intermediate traded at over $122 a barrel for the first time. Ten years ago a barrel fetched around $15. The feeble dollar, soaring demand and supply constraints have all helped to push up prices by 25% in the past four months alone. And there is little sign of respite for worried governments and consumers. This week Goldman Sachs, a bank, predicted that oil could reach $200 a barrel before the end of the year.
3 responses:
RESOURCE WARS!
they're coming.
Like no, srsly. I know we talked about this before, but can we actually buy barrels of this shit crude?
It'd be a great investment for our econstimpacks.
If not, then I recommend we go with your idea of food futures. that shit is about to skyrocket.
that post is coming. joint post, holmes.
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