OIL - $200 A BARREL
Many analysts are already speculating that it is not a case of IF oil will reach $200 a barrel, moreover when, and when it does, what political and economic pressures will push it through the $200 barrier.
So when will it likely happen?
How high could it go?
What will it mean to the average person?
In real terms, Oil is already more expensive than it was during the 1973 crisis. At that point, oil rose from $3 to $12 per barrel. However in 2008 terms that is only around $45-$50. The current price is hovering at the $125-135 mark. Those within the industry believe $135 is undercutting the market and that the true price is nearer to $180.
We spoke to Frank Davies, a 35 year veteran of the Oil industry and he told us the following…be warned, it makes for scary reading.
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