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May 17, 2010

$100 Barrel Oil Must Be On Its Way

 

Plenty of chatter today about $100/barrel oil:

The richest man in Asia says the world should prepare for it.

“By most analyst accounts, crude oil prices will likely be above the $70 mark, and in the foreseeable future, in the worst case, we have to be prepared to again see a three digit oil price,” Ambani said at the Asia Petrochemical Industry Conference 2010 in Mumbai on Friday.

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In the other hand, President Ahmadinejad, Iran, is saying the high price for oil is fake and deliberate.

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Obama sees an increased pressure on the price of oil due to increased auto purchases in India and China.

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Filed under:Fuel cost,Fuel Price Trends,Gas price | by Pump Girl @ 1:40 pm |