Goldman Sachs believes that the globe is suffering through an oil price ‘super spike’. Oil prices May Top $200 A Barrel In Two Years, Goldman Sachs PredictsBy Cliff Montgomery – May 6th, 2008A Goldman Sachs forecast that oil prices may rise to $200 a barrel within the next two years drove oil futures to a record level of $123 a barrel today.Retail gas prices crept a bit lower as investors fret over possible supply shortages. But many already predict that retail prices will explode to record highs of their own as the U.S. slides into summer.The Goldman Sachs prediction apparently influenced much of Tuesday’s heavy buying, although heightened worries over the declining crude production of Russia and Mexico and the free-fall of the U.S. dollar also were influences, say analysts.The Energy Department elevated its price forecasts for oil and gasoline, but also stated a belief that increased prices will further slash demand.The price of light, sweet crude pegged for a June delivery spiked to a record $122.73 per barrel, before edging down to $121.84 on the New York Mercantile Exchange.Because oil prices have almost doubled since last year, Goldman Sachs believes that the globe is suffering through an oil price “super spike”.Like what you’re reading so far? Then why not order a full year (52 issues) of thee-newsletter for only $15? A major article covering an story not being told in the Corporate Press will be delivered to your email every Monday morning for a full year, for less than 30 cents an issue. Order Now!
How Necessary Laws Are Killed These Days
Lawmakers generally only fight to protect the things they care about – and all too often, that just doesn’t include the lives of most of their constituents.
