Oil to jump to $US105: analyst

[NVMojo]

Jeez, I missed this when it first came out ...WTF!!!!

April 4, 2005

A LEADING investment bank has warned oil could hit $US105 per barrel, which would spread ruin through the US stock market, analysts said overnight.

Since the start of the year, oil has risen more than 25 per cent to near $US56 a barrel. Overnight, Goldman Sachs issued research saying oil markets have entered a "super-spike" period that could see prices go as high as $US105.
Goldman also raised its 2005 and 2006 New York Mercantile Exchange crude price forecasts to $US50 and $US55, respectively, from $US41 and $US40. A Reuters poll showed that analysts on average expected a mean price for 2005 of $US45.49 a barrel.

The analysts revised their super-spike range to $US50-$US105 per barrel from $US50-$US80 previously, noting demand and economic growth in the United States and China especially.

more...

http://finance.news.com.au/story/print/0,10119,12720321,00.html

[OneTwentyoNine]

1. Welcome to The Great Depression II,brought to you by another Repuke...

Only this time around there will be some safety nets or a "floor" as FDR called it,all brought to you by Democrats and fought tooth and nail by Republicans.

[shoelace414]

2. if we could only afford it, with the debt and all.

[Frederik]

3. Oil prices rise further following Goldman Sachs forecasts

as oil companies double their margins.

[NVMojo]

4. That's just peachy!!!

I laugh hysterically when I see a humvee these days, just trying to picture it in some garage with cobwebs on it.