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Commentary on the present and future of culture, politics, economics, and social values................... "At any given instant/All solids dissolve, no wheels revolve,/And facts have no endurance." W.H. Auden.

Friday, April 01, 2005

Oil Price Spike

So, Goldman Sachs has predicted that the price of oil will reach $105 a barrel. That report was enough to bring a spike in oil prices yesterday, over $56 a barrel.

Actually, some time ago we forecast that the price of oil will rise to to $100 a barrel in the short term! Good to see Goldman Sachs tagging along after us.

In the longer term look for oil to rise to $200 a barrel. As this rise will come gradually, the world economy will be able to absorb it without major disruption.

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