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Oil at $60 a Barrel this Winter?

Posted by: Michael Dudley
Thanks to: Michael Dudley
19 October 2004 - 5:00am

With oil hitting $55.00 per barrel, analysts are expecting prices to top $60.00 by the end of the year -- in the middle of northern winter.

Analysts fear that, with surplus supplies at only 1% of daily demand, the war in Iraq, unrest in Saudi Arabia and the threat of rebel attacks on oil production in Nigeria -- as well as slowdowns in production in the Gulf of Mexico -- all point to continuing increases in the price of oil.

Full Story: Oil Prices 'Heading for 60 Dollars A Barrel'
Source: The Scotsman, October 18, 2004
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Maybe we should blame Thomas Jefferson. He was the godfather of the urban sprawl racket in America.
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