Thursday, January 3, 2008

And the rest. I reckon it will double in two-three yrs.

German institute DIW sees oil prices doubling within 10 years

FRANKFURT (Thomson Financial) - German research institute DIW sees oil prices doubling to 200 usd per barrel within the coming 10 years, DIW's head of department for energy, transport and environment Claudia Kemfert told Berliner Zeitung. 'Oil reserves are becoming scarce, and that will drive up prices further,' Kemfert told the newspaper. Within five years, oil prices will likely reach 150 usd per barrel, she said.

Posted by planning4acrash @ 04:47 PM (446 views)
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2 thoughts on “And the rest. I reckon it will double in two-three yrs.

  • If anyone can predict oil prices in 5 years time they must be God. The old CEGB always had predictions that electricity demand would outstrip supply by some fantastic amount which came in very usefiul during the miners strike. If people are umemployed they won’t be using so much oil and it seems that China is closing a lot of its industry on the quiet so where will the demand be coming from? Incidentally has anyone else seen the news that tanker rates from the Middle East to China are falling because of too much tanker capacity?

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  • $200 oil is possible within ten years. That’s a bit too far off to be of much use to us though.

    In the short term, $100 oil today and the falling pound mean we can expect to soon be paying 115p per litre for petrol (up from 103.3p today) and 120p for diesel. That will mean more pressure on household finances, less discretionary spending, etc etc. HPC here we come.

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