This is going to hurt a lot of people in the U.S. and may begin a reversal of urban sprawl and an increase in the number of high gas mileage cars.
Goldman's Murti Says Oil `Likely' to Reach $150-$200 (Update4)
By Nesa Subrahmaniyan
May 6 (Bloomberg) -- Crude oil may rise to between $150 and $200 a barrel within two years as growth in supply fails to keep pace with increased demand from developing nations, Goldman Sachs Group Inc. analysts led by Arjun N. Murti said in a report.
``The possibility of $150-$200 per barrel seems increasingly likely over the next six-24 months, though predicting the ultimate peak in oil prices as well as the remaining duration of the upcycle remains a major uncertainty,'' the Goldman analysts wrote in the report dated May 5.
Tuesday, May 06, 2008
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