Opec chief warns of $200 a barrel oil price

[katty]

more: http://business.timesonline.co.uk/tol/business/industry_sectors/industrials/article3830383.ece

April 28, 2008

Opec chief warns of $200 a barrel oil price
David Robertson

The president of Opec, the cartel of oil-producing countries, has given warning that the price of crude could hit $200 a barrel, sparking fears that rising fuel costs will force more businesses into bankruptcy.

Chakib Khelil, the Algerian Energy Minister and president of Opec, said that the falling value of the US dollar would continue to drive up oil prices as investors sought to store their wealth in other assets.

Lehman Brothers, the bank, has said that high prices are being sustained by an influx of money into the oil market from investment funds.

[leftofcool]

1. I figure by summer

[katty]

2. yep, my guesstimate, middle summer

[Clear Blue Sky]

3. Doesn't bode well for the Repuke party come election time this fall...

[Jim__]

4. If people are scared enough of *TERROR*, they won't worry about the price of oil!

We'll see what the pukes can do to do to scare people!

[atjrpsych]

8. I am more afraid of the price of energy than terror!

Honestly at this point it is prices that are scaring me. I lose more sleep about how I am going to pay my electric bill than of another republican claiming "terrorist."

[rdenney]

9. I am afraid of the terrorists in Washington. DC. nt

[madrchsod]

5. opec chief says you will pay 200 a barrel....

the usa should say--let the world eat your oil--we are going down a different road....

[LazyBones]

6. if only

Too bad we can't tell them to eat their oil. If only we could. Doubt anyone's coming out with new means of transportation soon. Electric or Biofuel isn't going to cut it. Besides when grow more crops for fuel and less for consumption what will it matter how much money it costs if there's nothing to buy?

[Razorblade01]

7. What does that break down to in dollars for a gallon?

It doesn't look pretty.