Oil nears $123 on $200 oil prediction, supply concerns$200/bbl oil might just make wind and solar economically viable - with or without tax breaks!
By JOHN WILEN, AP Business Writer
Tue May 6, 2008
NEW YORK - Oil futures blasted to a new record near $123 a barrel Tuesday, gaining momentum as investors bought on a forecast of much higher prices and on any news hinting at supply shortages.
A new Goldman Sachs prediction that oil prices could rise to $150 to $200 within two years seemed to motivate much of Tuesday's buying, although a falling dollar and increasing concerns about declining crude production in Mexico and Russia contributed, analysts say.
I'm thinking about a bicycle.