Friday, Dec 28, 2007
Demand increase, supply falls and the U.S increases it's strategic stock
Market Oracle: Crude Oil Forecast 2008 to Hit $150 a Barrel
With demand high, supply falling and the U.S. increasing it's stock the price of oil is only expected to rise. Why is the U.S stockpiling oil when it is so expensive asks the author?
Posted by who stole my pension? @ 05:05 AM (344 views) Add Comment
2 Comments
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1. alan said...
$150 may seem a bit extreme, but with a diminishing supply of oil, the prices are sure to go up. Witness my very recent post about Gold and Platinum hitting market peaks.
In the inflationary spiral that would follow higher oil prices and lower IRs (with lower purchasing power for the pound), house prices may not fall as much as expected - however that option leads towards worthless savings.
Perhaps I should invest my cash in a wind farm?
2. Jimmy_joe said...
"Why is the U.S stockpiling oil when it is so expensive asks the author?"
Perhaps the White House knows something about the future of the dollar or Iran.