posted on September 24, 2002 08:46:49 PM new
This guy is full of it. We all know that prices may spike once ina while, but they have to be kept low enough to prevent alternative energy resources and methods from being developed to replace fossil fuels. It's just a scare tactic for unwary oil consumers.
posted on September 24, 2002 08:56:13 PM new
The $100 a barrel scenario is if Sadam hits Saudi and Kuwait with chem and bio weapons. This would be a situation that would have an effect on world supplies. It would probably go over $100 a barrel if he could contaminate the region and displace the populations.
posted on September 24, 2002 10:41:32 PM new
It would spike the prices, but other non-affected nation would keep the oil glut going, just to keep prices from getting too high. Some will make a lot of money on the spike, most will be economically devastated. I think that long before oil goes up half that high, contingency plans will come into play and the prices will bounce back to $18 a barrel.
