$90
I guess its not hard for oil to hit $90 when the dollar itself is worth much less than it was only a month ago. Interesting times ahead, I am surprised that it hasnt been raised in the election campaign. But I guess the level of our dollar is insulating the effect of the higher oil price. Certainly pump prices havent moved a whole heap despite a significant raise in the per barrell price. How much of it is just speculation and the effect of a tanking US dollar, and how much of it is genuine fear of supply levels?
Certainly cant see it getting any cheaper any time soon.
I can’t see any other way than for the world to go through a massive oil shock in the near future, 2008 is the year everyone seems to have marked down as a major point where demand will outstrip supply. It may finally be the wakeup call that governments need, heck it might finally be the wake up call for individuals to stop being so irresponsible.
For those people who drive their petrol car and dont wish to make use of bio-diesel alternatives or perhaps one of those new fangled “bicycles” I say this…
Suffer in ya jocks.
