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Friday, January 27, 2006

Oil at $262 a barrel?

Two leading investors say that we are headed for a shit-load of trouble when it comes to oil prices in the coming months. They listed several scenarios that range from the most likely - Iran imposing an oil embargo - to the somewhat ridiculous - like the House of Saud being dissolved - which could result in sky rocketing oil prices. The Iran thing seems really likely to me, which they estimate could bring oil prices up to $131/barrel. Pretty scary shit. Hell, gas is already almost $3 a gallon now with the price of a barrel being about half of that estimated price.