Oi'll be damned!
Tuesday, June 10, 2008 at 3:27PM Came across a lovely forecast this morning, written back in the mists of time, on 28 December 2007, on the website Garry Writes:
"Oil Price Predictions: Tight Markets Will Remain
Around 54% of respondents in a Barclays' survey of 150 commodity investors said they expected the average price of oil over the next five years to top $100 a barrel, with 27% responding that it would be $80-$100 a barrel and 16% expected $60-$80 a barrel. In its latest outlook statement, the US Energy Information Administration (EIA) said that global oil markets were likely to remain tight. It said that expectations that tight market conditions would persist into 2008 were keeping oil prices high."
I guess it's best to be careful. Most businesses we speak to haven't connected security with the prospect of a $200 a barrel scenario. Makes sense to talk it through over a coffee. At least
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