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See the original image at marketwatch.com —

GOLDMAN SACHS: Oil May Reach $200 a Barrell -- SOON!!!

marketwatch.com — In yet another dramatic sign of just how truly ***** this economy is, leading market strategists contend that the fundamentals are there for a 'super spike' to push oil prices higher, much higher. NEW YORK (MarketWatch) -- With $100-a-barrel here for now, Goldman Sachs says $200 a barrel could be a reality in the not-too-distant future

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  • ricepicker4000, on 03/08/2008, -13/+4WTF?
    • MikeSD34, on 03/08/2008, -1/+9With the falling US dollar this shouldn't be any surprise at all. Our dollar is worth less in other countries then it was before so of course foreign products are going to cost more, regardless of any other outside factors.
      • unreg, on 03/08/2008, -2/+18True. But the drop in the dollar versus the rise in oil prices is not balanced. Oil prices are galloping higher and higher based on market speculation. Oil has become the new Beanie Baby.
        • Nougat, on 03/08/2008, -0/+3Actually more like the new tulip. You can buy a beanie baby, play with it, and still have it. Oil, like the tulip, is expendable.
        • popfrogs, on 03/08/2008, -0/+5You are 100% correct. This ***** is all Goldman Sach's fault for creating an energy index that allows speculation on the price of oil. Spiegel did a great story on it not too long ago. http://www.spiegel.de/international/business/0,151 ...

          Here's a teaser: "Wall Street banks were only too happy to service this demand, and Goldman Sachs was at the head of the pack. "They invented a new commodities index that also included oil," says Jaeggi. The new index was wildly successful, and the more major investors put money into it, the more oil contracts Goldman bought and the higher the prices went. An enormous market force had been created."

          It's a 2 page article but if you're really lazy, skip to the second page, last 4 paragraphs. This is cutting to the core of this whole oil prices issue and finally, it's some truth.
        • shank2001, on 03/09/2008, -0/+1Actually I dont think the falling dollar has anything to do with it. The rise is WAY higher than just a less powerful dollar could explain. The numbers just do not add up. No, the reason prices are soaring is becuase of PEAK OIL. Everyone on here should read up on it. The dropping value of the dollar is actually tied directly to peak oil and the housing market fiasco. It almost seems like we are entering a "perfect storm" kind of scenario here. I have a feeling things are going to get interesting. Peak oil.... it is a key to humanities future, read about it.
      • mrsteveman1, on 03/08/2008, -1/+10Doesn't really matter, once oil becomes so expensive it will be cheaper to do other things like electric vehicles, hydrogen cars etc. So if this is what it takes to move away from oil, so be it.
    • sanman, on 03/08/2008, -2/+2Speculators are only boosting oil prices as a hedge against inflation. In other words, it's all driven by the falling dollar, and the confidence that it will continue to fall.

      But look on the bright side - that lower dollar will make US goods and services much more competitive against foreign competition. Not just in the US domestic market, but everywhere of course.

      You wanna talk about a bubble? How about the bubble that is the US dollar?
      A lower dollar will put more Americans back to work, and stem the loss of US jobs.

      And furthermore, the relatively higher cost of oil, coal, etc will then compel the US economy and its workers to make the economy more energy-efficient, and to economize on that cost of the oil. coal, and other stuff we dig out of the ground. This will be a big boon to the environment, which is suffering from our excess consumption.
  • neiltc13, on 03/08/2008, -24/+56I guess the Americans will just have to suck it up when their petrol is $8 per gallon like it is here in the United Kingdom.
    • robocop1, on 03/08/2008, -25/+7But down there you have ***** little cars with high gas mileage so it evens out.
      • tcpip4lyfe, on 03/08/2008, -1/+14down there?
        • BarleyWind, on 03/08/2008, -5/+2England is down there sort of like Brazil should be a canal not have one.
          • neiltc13, on 03/08/2008, -5/+2Who said anything about England?
          • capiCrimm, on 03/08/2008, -0/+5Thank you for participating in this Epic Fail.
          • sanman, on 03/08/2008, -3/+1No, he meant 'down there', like on your knees, crawling in your cesspools
      • domokunt, on 03/08/2008, -0/+5Uh, and the US has such a great reputation for its auto engineering excellence? Still at least many of you guys have the sense to buy Japanese.
        • Amazetbm, on 03/09/2008, -0/+1I didn't have any sense...I bought German. LOL
      • novenator, on 03/08/2008, -0/+2The UK taxes petrol (formerly to fund public transportation, though much of that has since been privatised). In the US, the money goes straight to the greedy oil corporations, who are making record profits and still getting subsidies and tax breaks from Bush and the conservatives
      • Amazetbm, on 03/09/2008, -0/+2Down there? Man, can you even find the UK on the map? They have plenty of diesel cars that are far from *****. Hell, Ford makes better cars for the European market than they do for domestic.
        • popfrogs, on 03/09/2008, -0/+1Yep, in Europe they say the best Fords of all time wear the Merkur badge.
    • outkaster, on 03/08/2008, -6/+22I drive 65miles a day just to get to work and back. How many miles a day do you drive?
      • Kev585, on 03/08/2008, -2/+9Commuter culture FTW / L
      • TheSabre, on 03/08/2008, -3/+8I ride the train 4 miles to work. I haven't had to drive in over a year. DC Metro FTW.
        • elipabst, on 03/08/2008, -1/+6Very few cities in the US have public transportation systems that would be realistic for the majority of people to get to work that way.
          • schul155, on 03/09/2008, -1/+4whose fault is that?, I hate to say it but its ours

            I've been voting for mass transit since I could vote .... this is only going to get worse
          • elipabst, on 03/09/2008, -0/+2@schul155

            I agree with you 100%. If anything there has been *less* investment in infrastructure for public transportation over the last 10 years. Unfortunately as gas prices go up, more and more people are going to be trying to use it to get around and the kind of projects needed to add capacity and extend coverage are going to take 5-10 years to complete. So it's likely to get worse before it gets better, but I think there is going to be a lot of that going around until we figure out a solution to our dependence on fossil fuels.
      • maley, on 03/08/2008, -1/+8So either pay up on gas or move closer to work.
      • toast24, on 03/08/2008, -0/+11I live four blocks from where I work (downtown Austin) so I just walk. Foot power FTW.
        • KyleGoetz, on 03/09/2008, -0/+2Austin mass transit also is superior. (well, compared to 99% of the rest of US cities, which have no mass transit). Austin FTW.
      • mm78, on 03/08/2008, -1/+6I driver zero miles a day. I just changed my job and moved into a new flat as well, for no other reason that I can now walk to the office. If you insist on living 32.5 miles away from your work that's your choice, but it'll cost you.
        • tcpip4lyfe, on 03/08/2008, -0/+2My apartment is about 2 blocks away from work and it's connected to the skywalk system. My day is extremely convenient.
        • popfrogs, on 03/09/2008, -0/+2Not everyone enjoys that convenience. Many jobs are located in downtown office complexes and 'urban renewal' has pushed the yuppies back into the core of the cities. Old manufacturing buildings and warehouses are being turned into trendy lofts and rents are skyrocketing as the developers seek a return on their investment. Therefore, many people just can't afford to live near their work, and commuters that live too far away can barely afford to not live near their work. It's a lose/lose and underscores the pathetic public transportation system in the US.
      • quadvods, on 03/08/2008, -0/+4I drive 95 miles to get there and back. It costs around £15 in petrol. If I get the train it costs £16.50. Rip-off Britain?
    • brstilson, on 03/08/2008, -1/+50That $8 a gallon funds your socialist government services that Americans don't get. If your government didn't tax gas, it'd cost the same as ours.
      • neiltc13, on 03/08/2008, -8/+2This is irrelevant. No political party in the United Kingdom stands for reducing the tax we currently pay on fuel. Short of starting our own political party and gaining a majority in the house of commons (646 members!) there is absolutely nothing we can do about it.

        So yeah, we pay a LOT more than you guys and the money may go to a different place but there is damn well nothing we can do about it. There is however something you guys can do about it - buy cars with better fuel efficiency.
        • Ineedanap, on 03/08/2008, -2/+17no,. you pay the SAME for gas, its just heavily taxed- We got out from under the oppressive taxing strategies of mother england sometime back in the late 1700's....
          • mgrest, on 03/08/2008, -0/+2So in the USA you refer to petroleum as 'gas', but what do you actually call LPG?
          • pak314, on 03/09/2008, -0/+2mgrest, it is usually called propane in the US
          • brstilson, on 03/09/2008, -0/+1Or LP Gas
          • popfrogs, on 03/09/2008, -0/+1mgrest, petroleum is wrong anyway. Petrol, short for petroleum, isn't the highly refined distillate we refer to as gasoline. It's actually a generic word that refers to 'sweet crude' or unrefined oil fresh from the earth.
        • SpykerSpeed, on 03/08/2008, -2/+7Keep in mind that England is pretty small compared to the continental US, also. There's a reason Americans drive more, and it's because we are more spread out.
          • neiltc13, on 03/08/2008, -0/+2I don't live in England.
          • waydee, on 03/08/2008, -0/+2I always thought it was more to do with the piss-poor state of public transport in the US and the fact that most retailing is done out of town, out of walking distance. I remember being shocked to find stores with literally no access by foot. Couple that with cheap fuel and cars and nobody cares - everyone drives.
        • mrsteveman1, on 03/08/2008, -3/+3It is relevant and you're a moron. Gas is so high in the UK because your government loads it down with taxes.

          Gas is going up HERE in the US for other reasons. In other words, a market issue, not the government stealing taxes that amount to double or triple the cost of the product itself. Thats right, only a small percentage of the cost of gas in the UK is made up of the ACTUAL cost, the majority is taxes, as in 2/3rds.

          You guys pay $4.84 in taxes on one gallon of gas. Heres my source: http://en.wikipedia.org/wiki/Fuel_tax#United_Kingd ...
        • hoovcluck, on 03/08/2008, -1/+2How about we just pass laws that charge people to drive their cars in the cities like you guys do? Tax people until they are so broke or pissed off that is actually impacts industry! Thanks for the great ideas but I think we will stick with high gas prices.
        • brstilson, on 03/09/2008, -0/+1No it is not irrelevant. You get services in exchange for those taxes. In America, we have to pay for our own health care. We don't have the luxury of the universal $15 prescription. Stop acting like you're more burdened with it, you get a trade off for the price hike, that's all.
      • 1randomguy08, on 03/09/2008, -0/+1Well the Australia government spend billions on "government services" and our prices aren't too bad its just Europe purposely decided to tax its citizens to the maximum.
        • popfrogs, on 03/09/2008, -0/+1Keep in mind this heavy taxation only applies to gasoline, not diesel. Sure, diesel is taxed as well, but not nearly as heavily as gasoline. That's why Europe loves diesel. Plus, since diesel is a distillate in the production of gasoline, it's technically cheaper to make. European processing plants actually end up with a surplus of gasoline which they then export to the US and other countries.
    • zeiben, on 03/08/2008, -7/+12Besides, petrol is for wussies. We use gas.
      • digga, on 03/08/2008, -0/+1What kind of gas... oxygen?
        • solinent, on 03/08/2008, -0/+6You do realize that without oxygen your car wouldn't work, dont you?
      • iFrikkenR, on 03/08/2008, -1/+3In the rest of the world, Gas means Gas: as in a substance in a gaseous state. Petrol is liquid, not gas.

        I realise it's short for gasoline and has nothing to do with gas. Petrol is also shorter than gasoline.
        • zeiben, on 03/09/2008, -0/+1"Gaz" is also for wussies. In America, we've moved beyond our dependence on phonetic spelling.
        • popfrogs, on 03/09/2008, -0/+1Petrol = crude oil, check a dictionary. Gasoline is more accurate. But whatever, it's a regional difference and the English language is full of slang.
    • allan17, on 03/08/2008, -1/+14Remember that the UK is much smaller geographically.
      • jsebrech, on 03/08/2008, -1/+4I am so tired of the density argument. Whenever it's about telecom, or public transportation, or some other seemingly density related subject, it's always "but the US is more spread out". I don't buy it. The UK has vast empty stretches as well, and the US has "dense" states. Cities are cities are cities. They have the same basic density and make-up all over the world. I think it's more the unwillingness of people to compromise in either their job or their living arrangements.
        • brstilson, on 03/09/2008, -0/+1Ok, how about all those lovely government services you get for that extra in taxes you pay for fuel? Here in the US, we don't have the government providing us council housing just because we're too lazy to work. We don't have government-provided health care, we have to pay for insurance ourselves. It's a trade-off, you pay more for petrol but get all those lovely socialist services like council housing and "free" health care while we Americans pay less for gas but end up having to make decisions like which finger we can budget to save when we go to the hospital.
    • kfed2, on 03/08/2008, -3/+6Your petrol is not $8/gallon, you forgot to subtract the tax you pay.
      • novenator, on 03/08/2008, -0/+3i actually like how europeans and most countries of the world include the taxes to the total, that way, you always know what something costs (out of your pocket). i wish the US would take away the silly .9 cents per gallon thing though, and just round it up to the neares penny
        • shank2001, on 03/09/2008, -0/+1No way, one of the reasons taxing doesnt spiral out of contol in the US is that it is painfully obvious when you are paying sales tax. Being AWARE of the tax is important, otherwise you end up thinking like this IDIOT neiltc13 who think Americans are getting some kind of deal on our gas, when he actually pays the same amount for the "petrol" itself, but pays 2/3rds of the total cost in taxes. That said, here in the USA the taxes ARE actually rolled into the cost of our gas. Lucky for us the taxes are a small fraction of what most of the world's governments are charging in taxes for the gasoline.
    • dddavid, on 03/08/2008, -2/+19What you forget is that if we go to $8 a gallon gas you will be at $14 a gallon gas. Have fun with that.
      • spectre_25gt, on 03/08/2008, -1/+3Yeah, there's this thing called currency exchange rate. Our prices are getting higher because or dollar is going down the crapper.
        • shank2001, on 03/09/2008, -0/+1Actually I dont think the falling dollar has anything to do with it. The rise is WAY higher than just a less powerful dollar could explain. The numbers just do not add up. No, the reason prices are soaring is becuase of PEAK OIL. Everyone on here should read up on it.
      • popfrogs, on 03/09/2008, -0/+3Not true, it's market speculation that's assraping us here in the US. The UK doesn't have shady hedge fund managers exploiting the public and giving Exxon all-time record profits. 2007, Exxon clocked 40 billion in profit, that's the largest haul from any company in a single year, in history.
    • DogofFire, on 03/09/2008, -1/+2$200 a barrel oil is not a "SIGN" that the economy is in trouble. It is THE REASON the economy is in trouble. The corporate media are doing a great job confusing people about this, pretending that things like inflation are driving oil price increases. What transparent nonsense!! By the way, it will be up to $500 a barrel by 2020. Global oil extraction peaked in 2006.
      • RationalXubrnce, on 03/09/2008, -0/+1 It's A reason not THE reason. The Federal Reserve system, the money we spend on wars and foreign bases, our hugely wasteful and bloated government, these are also reasons. $30 oil would not magically fix things, we are beyond that.
    • fromonesource, on 03/09/2008, -1/+1If you want answers, watch this: http://video.google.com/videoplay?docid=3340274697 ...
    • bemenaker, on 03/10/2008, -0/+2If we shoot the first futures trader in the head who buys oil at $120 a barrel, it will never get any higher.
    • TypeEE, on 03/11/2008, -0/+1Why didn't anyone comment about using this trend as a money making opportunity. My OIL ETFs has very high return on my Roth IRA account. over 15% a month.
  • Alix7, on 03/08/2008, -5/+2http://www.cic.gc.ca/english/index.asp
  • Celeron, on 03/08/2008, -6/+9I'm already hurting with having to pay $3.50 a gallon here in California.
    • neiltc13, on 03/08/2008, -20/+4Yeah? Try $8 per gallon. That's what the rest of the world pays.
      • unreg, on 03/08/2008, -1/+19Thank you taxation structure for that.
    • ralphthemagi, on 03/08/2008, -0/+6For regular. It's already over $4 for premium in San Francisco. I paid $3.98 the other day, and I live on the peninsula.
    • malman4, on 03/08/2008, -2/+2Gotta luv San Francisco........
    • kilroy1190, on 03/09/2008, -1/+0Same here. San Diego gas prices suck. I had to pay $3.50 a gallon last week.
  • badqat, on 03/08/2008, -3/+51Wow, your description has NOTHING to do with the story you linked. Did you even bother to read it before you wrote your blathering load of crap?
    • studdenfadden, on 03/08/2008, -1/+6Are you new here?
    • Iconoclast25, on 03/09/2008, -1/+2Gotta be some flavor of lefty . . . they seem to thrive on misrepresenting things of this nature.
  • aphexcoil, on 03/08/2008, -1/+24Looks like Goldman Sachs is long on some oil futures and doesn't want to risk getting its nuts slammed in a revolving door.
    • bilgates, on 03/08/2008, -6/+1You fool, You have no idea why its so high.
      The dollar is going down massively. So we have spend more to buy less or the same.
      • DavidtheDuke, on 03/08/2008, -0/+1Just because a man has 100 apples for 200 people instead of a optimal 100 for 100, doesn't mean he can buttrape them for each apple. 'Course you get the govt. involved and you have a whole other paradigm of waste to contend with.
    • charmaniac, on 03/08/2008, -1/+13Don't believe anything the investment banks tell the general public. They are market manipulators.
  • stutimandal, on 03/08/2008, -2/+5The cost of insurance, accidents, cost of a car every 5 years, cost of car maintenance, time spent while driving, driving fatigue/stress, etc. were never counted in the transportation cost. Gas price is just one of them. Do your calculation right.
    • PhantomZmoove, on 03/08/2008, -0/+2I enjoy the time I spend driving. I guess I am like a smoker who knows its bad for him, but still likes it.
      • 1randomguy08, on 03/09/2008, -0/+1Well you are about a 1 in 700million people world wide.
  • FFLord, on 03/08/2008, -14/+7Maybe America will finally go green and start using electric and/or air powered cars....

    /sarcasm
  • mcduck, on 03/08/2008, -3/+12Here in Norway, we pay $9.30 usd pr gallon, if that doubles, i will concider hanging myself.
    • waspbr, on 03/08/2008, -0/+4I pay 5.40 euros per gallon (about 8.1 USD) and I am already considering scrapping my car... damn...the compressed air car can't come quick enough
    • kesam, on 03/08/2008, -1/+3A better option might be to buy a bicycle? Probably easier on the family.
    • Kral, on 03/08/2008, -0/+4The bad news: the USD cost will double.
      The good news: your currency will be worth twice as much in USD.
  • NathanMahdavi, on 03/08/2008, -1/+16good thing i can fly
    • pearlygate, on 03/08/2008, -0/+1yeah like 5 mph flying skill
    • Mr8lack, on 03/09/2008, -0/+2you can fly??? Post a video and teach the rest of us already!!!
    • TypeEE, on 03/11/2008, -0/+1He can fly a kite, that's about it.
  • Ell3, on 03/08/2008, -26/+12To bad you Americans didn't listen when Bush #1 proposed going in to drill in ANWR. There is a price to pay for environmental extremism, and you're paying it now.
    • waspbr, on 03/08/2008, -3/+11and the war in the middle-easr has nothing to do with this eh?
    • fredrated, on 03/08/2008, -3/+16All of ANWR has about 4 months of oil at present usage rates, and you expect that to solve the world oil crisis? Good luck with that. The real problem has been that Bush's energy policy since the day Cheney took office was 'use more oil, it's good for the profits of our supporters'.
    • Nougat, on 03/08/2008, -1/+7That oil wouldn't even be in the market yet, and even if it was, it wouldn't be enough to bring the worldwide price down. It would just be a(nother) windfall for oil companies.
    • precip, on 03/08/2008, -2/+5In 2004, the US Energy Information Administration said that oil from ANWR would lower oil costs by about 50 cents per barrel.

  • mediaspree, on 03/08/2008, -2/+10I Am Legend had it right with $6 /gallon gas.
    • warlax27, on 03/08/2008, -0/+22I Am Legend also said that a cancer cure turned people into sicky gnar monsters...
    • Zaneris, on 03/08/2008, -0/+3Just give it time warlax.
    • xOKxWhy, on 03/08/2008, -1/+4I Am Legend also had the Giants beating the Patriots in the Superbowl >_>
      • Chainheart, on 03/08/2008, -1/+3It was a regular season game, and it listed the wrong score
  • disillusioned, on 03/08/2008, -2/+15You know, it's long been said that a massive spike in oil prices is the only way true conservation efforts will be taken. People will simply no longer be able to AFFORD oil. The issue is that they may instead have to sacrifice their disposable income/discretionary spending, which betters the economy as a whole.

    This is why the government could step in with price caps/ceilings and windfall profit taxes, as they did during Nixon/Reagan. It's a dangerous place to go, as any economist will tell you--letting the market set the price is typically the way to go. But when it so royally ***** your economy because people can't spend their money anywhere BUT oil, it's an issue.

    Some changes are a'coming, but things need to improve and we need to move far, far off oil.
    • cheeseysynapse, on 03/08/2008, -0/+1Price ceilings were a disaster. And Reagan didn't impose any price freezes at all. Ask your parents how they liked waiting in line for oil for 3 hours.
    • 1randomguy08, on 03/09/2008, -0/+1Yeah and all that oil is going to the middle east.
    • KyleGoetz, on 03/09/2008, -0/+1Your premise is not correct. The demand for oil in the US is inelastic relative to consumer products. People will stop buying big TVs and iPods and new cars, and instead will put that money towards the gas they HAVE to spend because it's the only way to get from their home to work (almost no city in the US has mass transit).
      My hometown just got public transportation about 3-4 years ago, and it's only like one bus running through the city right now. It almost got scrapped a couple years ago due to lack of interest.
  • yellowcakewalk, on 03/08/2008, -18/+62LMAO at all the Bush voters in their douche bag SUV's.
    • pell, on 03/08/2008, -2/+6Agreed
    • charmaniac, on 03/08/2008, -2/+11I remember arguing with my Republican friends about their SUV's. They would proclaim that they "needed" the SUV because their toting their children and all the belongings which that entailed took up a good deal of space.

      Now, most of them are Republicans who are voting for a Democrat in 2008. Turns out, spending $100 to fill up your vehicle using your credit card so you could commute 25 miles to work from the suburbs wasn't such a good idea. Instead of blaming themselves, they blame Bush.
      • nycmac247, on 03/08/2008, -0/+10all the ***** they collected - including the kids -- were OPTIONAL
    • ColonelJessup, on 03/08/2008, -8/+1Wrong. Try again.
    • cheeseysynapse, on 03/08/2008, -4/+4and yet, you say nothing about the V8 engines in the chrysler 300 or the dodge charger, or about pick-up trucks............do you get all your information from MTV?
      • rossisdead, on 03/08/2008, -2/+2There are atleast legitimate business uses for trucks. Not so much with SUVs.
    • michaelz92, on 03/08/2008, -7/+2A car somebody drives can not make them a douchebag.
      • wootup, on 03/08/2008, -0/+8You've clearly never looked at the people who drive Hummer H3s
    • hoovcluck, on 03/08/2008, -6/+5Yeah go ahead and laugh your ass off at the people who build your houses, fix your *****, and deliver the goods you you buy at the store because they are going to pass the cost right on to you the consumer. The people that drive h3 hummers are already rich and will still be driving them when gas is 10 dollars a gallon. Maybe you should do us all a favor and think before you open your ***** mouth you ***** immature boob.
      • intense321, on 03/10/2008, -0/+1Yup. I'm one of them. And I can honestly say that $8 a gallon wouldn't phase my bank account even a small fraction. Bring it on! And I'll keep driving my gas guzzler(s).
  • PolishLogic, on 03/08/2008, -2/+16Bush "hadn't heard this" either, I'm guessing.
    • charmaniac, on 03/08/2008, -1/+7Bush said the U.S. is not in a recession. That means we are most certainly in a recession. With Bush, you take what he says and believe the opposite. Isn't that great? The most powerful man in the world has the credibility of Hugo Chavez. 1/20/09 can't come soon enough.
      • Ineedanap, on 03/08/2008, -0/+4This guy sounds more like good ole Bagdab Bob every day..
        The US is NOT in Bagdhad.
        The US is Not in recession.. yet same thing to me..
  • forgiste, on 03/08/2008, -1/+6Jesus... I'm getting rid of my car.
    • Nougat, on 03/08/2008, -1/+15I'll give you $800 for it.
      --Jesus
    • hoovcluck, on 03/08/2008, -0/+1you better stop shopping too
      • overkillingness, on 03/08/2008, -0/+2Or you could live in an actual community where all the essentials are in walking distance....
        • hoovcluck, on 03/09/2008, -0/+1essentials whose merchandise is delivered by trucks that use gas and pass on that cost to the consumer
  • skyz, on 03/08/2008, -0/+18i wonder if there is a way to invest in bicycle futures ?
    • waspbr, on 03/08/2008, -0/+1you could try investing the the compressed air powered car
    • pell, on 03/08/2008, -0/+1No but my local Vespa dealer mentioned business is hugely improving (we are looking to buy one ourselves)
    • cheeseysynapse, on 03/08/2008, -0/+3why not go long oil? then give your profits to the sierra club. you can do that.
      • TypeEE, on 03/11/2008, -0/+1that's exactly what everyone should do. People keep complaining but never view this as an investing opportunity.
    • johnpaul191, on 03/08/2008, -0/+2After the Katrina gasoline price surge, it was amazing how many bicycles you saw around. The busses and trains were packed too. I'm guessing the occasional spike like that makes people give the driving alternatives a try.
      As for your question, a lot of bike companies are on the NYSE.
  • Quackonomics, on 03/08/2008, -3/+6No worry folks, we've got oilmen in the whitehouse, if anyone knows what to do they will.
    • funkywood, on 03/09/2008, -0/+2Ever thought they might have a conflict of interest and actually quite like higher oil prices for their Saudi friends?
      Then they could push them up by, say, needlessly threatening and invading other countries with oil.
      • muckemuck, on 03/11/2008, -0/+1look at the profits in the past few years from the oil companies for the answer to this question.
  • nastronomical, on 03/08/2008, -14/+8Here's food for thought.... If the Dems in Congress want to reduce Gas prices why havent they cut the taxes collected from Gas in half? You see the oil company makes a profit and so does the state and federal Govt. Why havent you heard the usual outcry as to why some states have collected billions from their their citizens? Oh and please cut the nonesnse about its going for good. They collected the same amount percentage wise in 1999, 2000, 2001, 20002, 2003, 2004 and so on. So why not reduce it since they are going to collect the same amount of money as prior years? And to top it off the idiots want to raise taxes on Gas even more to pay for "free healthcare" and to punish companies for making a profit. Oh and no BS about the money raised going to fix roads, I live in NYC and the same pothole over on the eastside by the FDR exit close to 10st? street is still ***** there after 7 years! Where has the extra taxes gone to fix the roads and highways? Dont by into the BS people, Just remember these are the same people that want to give you "Free Healthcare".
    • ColonelJessup, on 03/08/2008, -1/+1I don't know why you are being dugg down, but you touched on a very good point. Why does the government make more on a gallon of gas than the oil companies do? And people want to blame "big oil" for high prices....................
      • nastronomical, on 03/08/2008, -1/+2Because people here are ignorant and well lets be real are anti-capitalist. They are ok with companies getting taxed to death because in their mind its "redistributing" the wealth.
      • PhantomZmoove, on 03/08/2008, -0/+2I think its because right now, government and big oil happen to be the same thing with this administration.
    • kfed2, on 03/08/2008, -1/+1Very well said. You will never get your monies worth from taxes paid. If you did, they would not be taxes because people would willingly pay for what they get. Only with government is the deal so bad that you have to choose between buying the service or going to jail.
      Wait til we get Govt/ Health insurance.
    • kh99, on 03/08/2008, -1/+1Sorry, but your point is stupid. Even if you have a problem with the amount of tax charged on gasoline, it isn;t the tax that's doubled over the past few years, so blaming higher prices on the tax is just really stupid. The price is going to keep going up because of the price of oil, so cutting the tax won't make any real difference.
  • ralphthemagi, on 03/08/2008, -1/+16It's a speculators market. It has been for some time. We could see it reach $200, but we could also see it collapse down to $50. Yes, a rise in demand had caused prices to increase, and yes the war in Iraq hasn't done anything good for the region's stability; but even together they still do not [statistically] explain $100+ a barrel oil.

    Today, oil is being traded like you might trade stocks, bonds or any other kinds of securities. It's become a speculators market, and right now that's a bubble market. Now, it's possible that it will settle at $100/barrel. We don't know. But it is also possible, and equally likely, that the bubble will burst violently and prices will fall back down to what they were a few years ago.

    It is precisely because of articles like this that investors are saying, "The price of oil is going to double? Maybe I should invest in oil instead of Google." And rightly so.
    • dacris, on 03/08/2008, -2/+4How about the fact that the dollar has fallen from 1.25 Euros to 0.65 Euros since 2000? If it hadn't, we'd have $52/barrel oil today.
      • BaronSamedi242, on 03/08/2008, -0/+2Such things happen when you run the printing presses nonstop to try and compensate for handing blank cheques to Halliburton for eternal war
      • Starman97, on 03/09/2008, -0/+0That's exactly it. The Dollar is backed in oil. $100 2008 dollars buys you 1 Barrel of crude.
        Back in 2005 it was 50 Dollars to the Barrel.
        As the Fed devalues the Dollar by printing more of them, the price of oil will rise in proportion to
        devaluation of the Dollar. Such is the way of fiat currencies.
    • andy314159pi, on 03/08/2008, -0/+1Right. Oil has always been traded like stocks on the futures market. Same thing with any commodity... and this is just a bubble in the price. It has been forced by the failure of the stock market to provide an adequately high value/price ratio which has left a great deal of capital with no where to go (except to inflate the price of oil.)
      • RationalXubrnce, on 03/09/2008, -1/+3 Sometimes I question the wisdom of a system that allows speculation to change the price in a commodity that could cripple the nation.
    • Math, on 03/10/2008, -0/+1Well OPEC has recently refused to raise supply ( http://news.xinhuanet.com/english/2008-02/04/conte ... ) and demand looks like it's going to keep increasing, so logic dictates that the price is going to keep increasing.
  • trapilales, on 03/08/2008, -1/+29FTA:
    "....Goldman now sees average selling prices of $95 a barrel for 2008, $105 a barrel for 2009 and $110 a barrel for 2010. The high end of its range is now $135 a barrel -- but Goldman hinted that prices could be headed even higher...."
    "...a major oil supply disruption could lead to $150-$200 a barrel oil prices,..."
    "...Goldman also reiterated its view that oil prices could fall as normal market conditions return over the next four years...."

    Ok so uhmmm...the prices could rise anywhere between $90-$200 or they could fall a lot. Wow what a great prediction. Quick somebody ask him the lotto numbers. Money in the bank i tell ya!!
    • norcalscan, on 03/08/2008, -2/+3Apple's upgrading the iPod in the next few years!
      • TypeEE, on 03/11/2008, -0/+1and if there is a decline in demand, apple will make less iPods.
    • 1randomguy08, on 03/09/2008, -0/+1alot of numbers between 20-40 may come up but I am also forseeing a few numbers between 1-19 Good luck!
  • ericisroot, on 03/08/2008, -2/+3***** my mustang. I am getting a smart car.
    • OniLynx, on 03/09/2008, -3/+0Pfft.. ***** that, I'm keeping MY Mustang. Best ride ever. I wouldn't trade it for anything, except maybe a higher spec model like a GT500. Mustangs ftw.
    • lovedunks, on 03/09/2008, -1/+2Smart Cars are stupid if you live in America. A Toyota Yaris is much better, gets about the same gas mileage, and it is much more functional.
  • PSUstoekl, on 03/08/2008, -2/+14I just heard an interview on NPR where Adam Davidson stated that all of this has nothing to do with demand, but is instead simply investors the world over banking on the rising price of oil. He sees that in six months the price of oil could reasonably be between $30 and $150 a barrel, depending on what happened.

    What this means for gas prices is really still up in the air.

    http://www.npr.org/templates/story/story.php?story ...
    • ColonelJessup, on 03/08/2008, -0/+0Precisely.
    • ScottMitchell, on 03/08/2008, -0/+2In a similar vein, I heard on the radio that the cost for Saudi Arabia to suck the oil out of the ground is $1.50/barrel. That doesn't include shipping and refining, but, still, it shows that there is a lot of difference between the raw cost of oil and the cost on the secondary market.
    • MrRadar, on 03/08/2008, -0/+2Could we be seeing an "oil bubble" analogous to the housing bubble?
    • popfrogs, on 03/09/2008, -0/+1That fits perfectly with my earlier comment from a Spiegel article.
  • pell, on 03/08/2008, -0/+6Gas prices do suck no doubt and EVERYTHING will go up because of it. Food prices are where I noticed it the most. Plus now "fuel surcharge" for shipping items. The consumer gets the cost no matter what, corporation wont lose money. It is truly sad.
  • Homerr, on 03/08/2008, -2/+27Mission Accomplished?
  • NightVortez, on 03/08/2008, -1/+2How much would that be in gold? Just technically speaking.

    Oh and looks like I have to sell my car for a Prius, just wish they weren't so ugly.
    • pell, on 03/08/2008, -0/+3Yea, and even a prius will cost 100$ to fill.
  • yellowcakewalk, on 03/08/2008, -12/+14Bush voters in their douche bag SUV's thought their Oil War would give them cheap gas. Exxon reports record profits every single quarter now. News for war supporters: the oil theft was for the oil companies, not YOU. I wonder if Bush voters in their douche bag SUV's wonder why they see "stupid" when they look in their douche bag SUV's rear-view mirror.
    • jhandfield, on 03/08/2008, -4/+5We heard you the first time, kiddo.
    • ColonelJessup, on 03/08/2008, -5/+4You fail.
    • Sethbacca, on 03/08/2008, -2/+6Sorry, couldn't hear you,my radio was blaring while I was joyriding in my full size truck by myself with an empty full size truck bed.

      Could you repeat it just 1 more time for those of us that missed the first 30 times you've copy and pasted this comment ?
    • malman4, on 03/08/2008, -1/+5Can you realistically point out where any "stolen" oil went. You spew hatred, but how about facts?
    • chubbybunny, on 03/08/2008, -2/+4LOL. What amazes me is this guy gets dugg up spewing nonsense like that.
    • LastVisibleDog, on 03/09/2008, -0/+1Facts just confuse the blind leftest moonbats
  • phogasmic, on 03/08/2008, -0/+15its going to hurt in the short term... but expensive oil is going to save us. If oil prices had stayed high after the last oil spike in the late 70's and early 80's then we would be driving electric cars now, would not be in Iraq, and the Middle East would have diversified they're economy.
    • wiggles, on 03/08/2008, -1/+2Would have diversified they are economy? Huh?
    • doctorgrim, on 03/09/2008, -0/+1I totally agree. If that is what it's gonna take for alternatives to become priority. Then so be it!
  • nullcodes, on 03/08/2008, -1/+5Ok whoever is afraid of this or touting this (diggers, Goldman Sachs?), why don't you buy up oil at $100? Not enough capital, take out a loan, mortgage the house, sell the farm etc.

    Then, when oil hits $200 you can decide to sell. Too many people bitch about the economy and predict doom and gloom without taking precautions.

    Failing all that, you do have the chance to invest in the oil companies.
    • overkillingness, on 03/08/2008, -0/+1oil isn't just another commodity... sure you can make a few bucks on it, but in the long term all of society fails... it's energy plain and simple, it's what keeps everything going
    • Math, on 03/10/2008, -0/+1Doesn't oil degrade in quality if you store it for too long?
  • charmaniac, on 03/08/2008, -1/+7Don't believe the hype. Oil will go down in price very soon because demand is already diminishing due to a deep U.S. recession. While globalization has increased demand worldwide, the United States is still 25-40 % of the world economy. Demand WILL go down and either OPEC will reduce production at their own peril (thereby keeping the price high), or the price of oil will decline to to meet a larger supply. We went through this in the early 80's when everyone thought the price of oil would stay up, but it didn't. I hope that oil stays high because it will motivate the US to seriously effort other sources of energy, but I suspect that the price will decline in the near future.
    • popfrogs, on 03/09/2008, -1/+1The price won't go anywhere but up as long as the hedge fund managers and captains of the NYMEX have the oil futures prices by the balls. "Oh, did someone fart in Venezuela? +$2 per barrel" and "I heard Darfur is getting crazy again, +$3 per barrel". This is the market at its worst, directly controlling our economy.
      It's a double edged sword as others have mentioned, because consumers are still shouldering this crippled US economy. The more money they take out of our pockets, the less we can spend on things like homes and food, and the less we spend as we see prices on everything rising due to inflation. Energy costs go way up, Fed keeps slashing rates to no avail practically giving away money for free now, and the economy is still headed straight down. GDP was also way below expectations in the last 6 months.
      A depression is just around the corner. As long as these scumbag international bankers and hedge fund managers bet on oil prices, they're only going to get higher. This is all thanks to Goldman Sachs who started it all a few years ago.
    • LastVisibleDog, on 03/09/2008, -0/+1Hint: the US is currently NOT in recession (the "deep" comment is just silly) (recession requires two quarters of decline - so far there has been GDP growth every month)

      The current prime interest rate is 6% (far from giving money for free - it was at 6% in the early Clinton years and in 2001 - 5 years ago it was near two points lower that this). Facts and these rants about the economy are really seen together in the same room.

      We are still a ways away from a recession and some nob says "depression is just around the corner" - geeze!
    • muckemuck, on 03/11/2008, -0/+1the price of oil isn't impacted by the supply/demand as much as the falling dollar. Check the price of oil in gold rather than US dollars and you'll see. As long as the US dollar continues to fall (and it will as long as the Fed continues cutting interest rates by dumping dollars on the market) the price of oil and other imported goods will continue to climb in cost.
  • ColonelJessup, on 03/08/2008, -2/+18They were discussing this on C-Span this morning. The problem here is not a supply vs. demand scenario, there is actually plenty of oil. In fact, the U.S. is sitting on top of a supply that can satisfy domestic demand for 30-50 years.

    The reason oil prices are going higher are because the speculators in the market, who are bidding up the price of oil. It is greed, pure and simple. These crooks on Wall Street know nothing but greed. All they care about is squeezing every last red cent they can from the American people. It really makes me sick.

    Same thing with the tax on a gallon of gas. 60 ***** cents the government makes off of every gallon. Why? What hand does the government have in oil exploration, drilling, producing, and bringing it to the market? ZERO. Yet they make almost 7 times as much off a gallon of gas than the oil companies do.

    *****. They are pricing honest people out of energy. Just like always, the poor/working poor are going to be hit hardest. It really pisses me off that we have these crooks running for office, spewing their populist ***** about "I care about the poor", when these same people are actively working to price them out of energy. How are we going to get to work, to school, to the hospital? How are we going to heat our homes?

    Why is it that the poor always wind up paying for everyone elses greed?
    • allan17, on 03/08/2008, -1/+2Well said. I know many people here in Canada are doing without heat some days because of the high prices. The poor can't afford heat. The middle class are spending more on oil and less money in other areas of the economy, which is going to hurt everyone. The rich are making large amounts of money from their oil stocks.
    • ScottMitchell, on 03/08/2008, -1/+3Let's not forget that the government supplies the infrastructure used by drivers (roads, licensing, law enforcement on the roadways, etc.), so I can see the purpose of the tax. Better to tax those using these resources than by shifting it onto income tax or general sales tax (which would require non-drivers to pony up and pay for these facilities).
      But I agree that the speculators are annoying. But how is this any different than the housing bubble? Greedy flippers and lenders drove up prices in my neighborhood more than 200% over the last six years or so. And now the bubble has burst (thankfully), but people are feeling the brunt of their greed - increased REOs and foreclosures, maxed out credit. And while prices have dropped back down to levels from 3 years ago, they're still sitting at ridiculously high levels, historically-speaking. Still too expensive for that nurse or policeman or teacher to buy a home (unless they take out a loan that will self-implode in two years).
    • Spektr4, on 03/08/2008, -1/+2Like Scott said, the gas tax goes toward maintaining the driving infrastructure that you get to use for "free" (and probably take for granted). But also, if you consider the military cost of securing our oil supply as a subsidy on gasoline, you're actually getting it cheap!
    • mlavergn, on 03/08/2008, -1/+1"The U.S. is sitting on top of a supply that can satisfy domestic demand for 30-50 years."

      ... are you referring to oil shale??? Oil shale extraction is incredibly inefficient and polluting. The reality is that alternative fuels are going to (eventually) be the answer. Hydrogen fuel cells in particular show a lot of promise. The problem is that this would cut the oil companies out of the equation and I'm sure they're not too crazy about that idea.
    • funkywood, on 03/09/2008, -0/+1You are forgetting that speculators have to sell everything they buy so all they are doing is pushing up prices now before bringing prices down later. In the meantime it makes more economic sense to invest in alternative energy because of this.
      • popfrogs, on 03/09/2008, -0/+1When do you expect them to 'bring down prices later'? What benefit does it have for them? As long as the value of something keeps increasing with no end in sight, nobody wants to sell. The futures market isn't like other markets; you're hedging your bet against oil that's still in the ground and may not be extracted for years.
        Take a look at the graphs here http://www.wtrg.com/daily/crudeoilprice.html, it shows the price per barrel due to the futures market has nearly doubled in a single year. If you were in on it a year ago, you would have 100% profit on the futures you purchased if you were to sell them today.
        • ckedge, on 03/09/2008, -1/+1What's that? You have to sell what you bought in order to make a profit?

          Didn't you just claim that they would never sell?

          Sorry, I'm marking you as just another nutjob crybaby who couldn't fight his way out of a wet paper bag.

          > "These crooks on Wall Street know nothing but greed."

          What have they done that is outright criminal? What is stopping you and the other 20,000,000 people like you in the USA from putting $2000 each together and forming a major oil company?

          Oh, right. You're too busy bitching and whining about things you can't possibly hold in your tiny ***** brain all at once.
    • Starman97, on 03/09/2008, -0/+0The government isn't doing anything for the tax on gasoline?
      WTF? umm.. Iraq war maybe?
      Surely you don't believe any of that crap about WMD or some sort of 'bring democracy to the poor downtrodden Iraqi people'
      The war is about gaining control of the Iraqi oilfields by western corporations. Before China made deals with Iraq for the oil.
    • Math, on 03/10/2008, -0/+1Well supply is staying at the same levels, and demand is clearly increasing, so at least some of the price rise is attributable to this.

      Also, who is going to pay for the costs of roads, freeways, traffic lights, etc...?
      It's got to be a tax on oil, cars or licences.
    • muckemuck, on 03/11/2008, -0/+1and on CNN they were saying the price of oil rising was due to to the falling US dollar. .. CNN is right.
  • gdagreat, on 03/08/2008, -0/+5Damn it! public transportation here i come...
    • Ydnar723, on 03/08/2008, -0/+0Sam here it is now sad in my case the nearest gas station is 3.35 a gallon jumping about 10 cents a week now. I am only under 10 miles from work, with the crappy roads they can't repair and high gas a bus actually stops just pass my house, board the bus there connect at the depot and get to work for a buck, costing me $2 a day, less if I buy a pass for the month. Pretty sad but I guess the upside is I don't have to get my car fixed all the time.
  • dtfinch, on 03/08/2008, -1/+9The dollar will reach 0.005 barrels of oil really soon.
  • RomanThommassen, on 03/08/2008, -1/+5IF it get's 200 a barrel it means the dollar is worth half. And that will happen o_0
    • gak001, on 03/08/2008, -4/+1You're making a lot of unfounded assumptions. I can't post graphs in digg comments, so I'll suffice to say - you're wrong.
  • bilgates, on 03/08/2008, -10/+3ITS NOT BECAUSE OF THE ***** BUSH ADMIN.
    ITS BECAUSE THE DOLLAR IS GOING DOWN HEAVILY
    this is driving the oil costs higher and higher!
    We have to pay more to get less because of the dollar.
    Its the banks fault crashing the dollar and giving money to deabeat, white trash people that are not paying them back.
    • cjsedwards, on 03/08/2008, -3/+4You don't think that the dollar is crashing because of Bush???????????????
    • nex9, on 03/08/2008, -1/+4Here's a clue: supposeI can get 5% for putting my money (euros) in england, and 5% for putting my dollars in a bank in the US. Then, the US lowers it's rate to 3%. Now, would you rather have euros or dollars? Would the dollar go up or DOWN? Also, if I print several million new dollars (IE: create money), that makes the existing dollars in circulation worth less. Both of these are happening now, and these are largely controlled by the US government (Bush, among others). So yes, it's because of the Bush administration.
    • Ineedanap, on 03/08/2008, -4/+4umm.. the Dollar is crumblimg BECAUSE of the Bush administration, and its continual addition to loans for paying for a war we cannot afford.
      End the War, stop the hemmoraging of money, RAISE or STOP lowering interest rates and oil will stabilize.
    • kfed2, on 03/08/2008, -0/+1Ron Paul was right.
  • Singulariter, on 03/08/2008, -0/+3*Gets on his bike*
  • agiraffe, on 03/08/2008, -0/+1I will definitely be resurrecting my motorized scooter this spring.
  • jdass, on 03/08/2008, -1/+0This is a great market to short things. First it was the financials (SFK) then the nasdaq (QID), and
    now it's time for oil (DUG).


  • cowboy86, on 03/08/2008, -0/+3Why do I have a feeling in a couple of years there will be a class action suit against various fuel companies resembling that of the Dabeers diamond suit?
  • bfoot, on 03/08/2008, -0/+5I guess GOLDMAN SACHS wants to get out of oil completely and predicts that oil will go $200 so that they can sell theirs now and make a killing. Go with the opposite of those analyst tell you -- will make you lots of money.
    • kfed2, on 03/08/2008, -0/+2Good point, Analyst is trying to manipulate the market? Besides, if he is so good at finances, why does he need a job anyway?
    • bxblox, on 03/08/2008, -0/+1Seems to be that way. They'll claim oil will double so everyone buys in and drives up the price so they can sell.
    • RationalXubrnce, on 03/08/2008, -0/+2Actually it's the exact opposite. They are probably in oil heavy right now and so they forecast huge gains to get investors more excited and drive up the price on their positions. Self fulfilling prophecy.
      • popfrogs, on 03/09/2008, -0/+1According to Spiegel, you're right.
  • gak001, on 03/08/2008, -1/+5Hype... buried.
  • Ineedanap, on 03/08/2008, -2/+1that new Diesel Jetta looks more appealing every day... Goodbye Wrangler- we had some great topless rides, great times- but you are just too expensive.... so sad to see you go..

  • elig, on 03/08/2008, -4/+9I'm so glad I live in Holland. Forgive me for not giving a sh*t as I ride my bicycle to the train station where I will board an electrified railway car, and then board an electric tram.
    • nycmac247, on 03/08/2008, -2/+6please god tell me they are powered by beer farts - that would be so green!
    • hoovcluck, on 03/08/2008, -1/+2Where the hell does the electricity come from?
      • towny, on 03/08/2008, -0/+4Wind Turbines, hydroelectricity dams, solar.
        • Lazydriver, on 03/09/2008, -0/+2As well as Nuclear power courtesy of France :(.
          • hoovcluck, on 03/09/2008, -1/+112%, Wow they are so advanced! Please! oil, gas and coal make up 80% of their energy! Quit assuming that Europe is a earth-friendly paradise. They are just so arrogant and stupid that they have the rest of the world thinking they are not as guilty as the US/China/India when it comes to using oil and contributing to global warming. Please stop talking out of your ass and bring some facts to the table so people will wake the ***** up.
            http://www.eia.doe.gov/kids/infocardnew.html
      • hoovcluck, on 03/09/2008, -2/+1Please, give me a freaking break. That ***** makes up a tiny percent of the energy the netherlands uses. So quit blaming the US when the rest of you are just as dependent on oil as we are.
        http://ec.europa.eu/energy/energy_policy/doc/facts ...
  • digitalagent, on 03/08/2008, -0/+1Don't think my comment posted. Simply put, if the price of gas increases and we continue to use it as we have always used it, why don't we see a lower tax on gas? The revenue stream in taxes on gas must have spiked with the price of gas. If you look closely at a pump you will see that probably more than half the price you are paying for gas is tax. Much like Exxon's record profits shouldn't our county/state see record tax windfalls? If that is the case why don't they pass some of that money along to the consumer with a lower tax at the pump?
    • RationalXubrnce, on 03/08/2008, -0/+1 The tax is per gallon not a percentage of the price. The only way the revenue goes up is with higher usage.
  • nastronomical, on 03/08/2008, -3/+5Repost because its the truth!!!



    Here's food for thought.... If the Dems in Congress want to reduce Gas prices why havent they cut the taxes collected from Gas in half? You see the oil company makes a profit and so does the state and federal Govt. Why havent you heard the usual outcry as to why some states have collected billions from their their citizens? Oh and please cut the nonesnse about its going for good. They collected the same amount percentage wise in 1999, 2000, 2001, 20002, 2003, 2004 and so on. So why not reduce it since they are going to collect the same amount of money as prior years? And to top it off the idiots want to raise taxes on Gas even more to pay for "free healthcare" and to punish companies for making a profit. Oh and no BS about the money raised going to fix roads, I live in NYC and the same pothole over on the eastside by the FDR exit close to 10st? street is still ***** there after 7 years! Where has the extra taxes gone to fix the roads and highways? Dont by into the BS people, Just remember these are the same people that want to give you "Free Healthcare".
    • RationalXubrnce, on 03/08/2008, -0/+1They can't cut that taxes too much. The bloated government machine is large and needs to be fed. I'll bet we could fire half the government workers in the country and people would scratch their heads wondering what it was they even did anyway.
    • Starman97, on 03/09/2008, -0/+0Umm , maybe because the Government is $3 trillion in debt, debt that has a interest payment that must be paid.
      The day that stops getting paid is the day the US economy comes to a complete halt as every bank fails and the Dollar ceases to be
      a currency worth anything. If anything the gas tax should increase proportionally with the price of oil to pay for the Iraq war.
      The 'true' price of oil as it were.
  • judicar, on 03/08/2008, -2/+2"... a future rebound in U.S. gross domestic product growth or a major oil supply disruption could lead to $150-$200 a barrel oil prices"

    Buried, inaccurate.
  • ridium, on 03/08/2008, -0/+1Here's the key paragraph:
    "The core of our 'super-spike' view is that oil prices will keep rising until demand declines globally on a multiyear basis, resulting in the return of excess capacity and a lower cost structure," Goldman's analysts said. "Given this view, once excess capacity returns, we think prices can move sharply lower."

    Demand for oil is not price sensitive. That means for a given change in price, demand will not change much. Goldman is saying demand for oil is relatively flat until the price gets close $200 and then demand will drop sharply. So, to maximize their profits, oil producers will sell at $200.

    Once the price of oil gets high enough, companies and countries will increase exploration. *Assuming* they find more reserves, there will be more capacity which will push down the price. If the reserves that are found are not substantial the price drop will be much less.
    • kfed2, on 03/08/2008, -0/+1You are ignoring the falling value of the dollar relative to everything.
    • popfrogs, on 03/09/2008, -0/+1Both of you have left Goldman Sachs and other firms manipulating the price of oil futures on the NYMEX. The producers (OPEC) haven't charged us double yet oil cost per barrel has nearly doubled in a year's time. This is the market's fault, specifically Wall Street's, not suppliers.
  • mangosinslo, on 03/08/2008, -0/+3***** that. im gonna get me a sweet motorcycle :)
    although, i'd probably end up paying what i do now to fill up my car -_-
    • airburst, on 03/08/2008, -0/+3It's actually cheaper to keep driving the car. Girls love motorcycles and you know how expensive they are.
  • wuxia, on 03/08/2008, -0/+4Why havent we read about commodity traders and speculators being brutally killed for destroying the American way of life?
    • RationalXubrnce, on 03/08/2008, -0/+2 Because those same speculators and their frinds and families own the media companies that form American public opinion.
  • Ricemanstm, on 03/08/2008, -0/+1Too bad that oil prices aren't market driven. Speculators and investors are the ones driving up prices. Anyway, the faster we drain the middle east of their life's blood, the better off the world will be anyway.
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