- Larry Edelson of MoneyAndMarkets.com asks, "Where’s oil headed next?" ... "I think it’s going to at least $100 a barrel by the end of this year. And unleaded gas could hit $4.00 a gallon. In my view, the combination of strong economic growth around the globe plus the most recent plunge in the value of the U.S. dollar - virtually guarantees it. In 2007, I expect even more upside for oil and gas: $120 a barrel for crude (perhaps even higher), and $5 a gallon at the pump." And that sounds right to me, too. Maybe higher.I know someone who works as a consultant to the Oil Industry (He does lots of traveling to really cool places) and he is convinced that we will be seeing $100 a barrel very soon. And he also believes it will stay above $100.
At the very least this will put a serious crimp in SUV sales. As reported in todays Colorado Springs Gazette, local sales of motorcycles are up 30% over the same period last year.
developing...