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3/31/2005

$105 a barrel

I just logged on to the internet when somthing caught my eye, I saw a little link that said oil could soar to as high as $105 a barrel if this really happens we are all in for a world of hurt. Not only will gas prices soar at the pump but everything we consume will increase as well, lets hope this doesn't happen.
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2 comments:

  1. Dr. Tufte8:36 PM

    I think Goldman Sachs has to be taken seriously on this issue. However, they site a price range running from $50-105 per barrel. So, it isn't really fair to say that they are predicting $105 - picking the top of their range is just hyperbole.

    One other thing to consider is that the linked article is awfully short on specifics. There isn't much there other than a claim that oil might go that high.

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  2. Dr. Tufte8:39 PM

    -1 on Mack's comment for spelling errors.

    Also, I'd like to emphasize that oil prices did not get to "record" highs because the oil companies had a successful cartel. The oil companies have never had a cartel. The oil producing countries have had a cartel, and one that hasn't been very effective for over 20 years.

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