Saturday, September 17, 2005

Uncertain Oil prices.

http://www.theglobeandmail.com/servlet/story/RTGAM.20050916.woil0916/BNStory/Business/

This article talks about the oil prices dropping recently to $63 dollars a barrel because of the consumers moving away from petroleum products since there were high prices. The average price for gasoline in the US. was 2.89 on Friday, down 3 cents from 2.92 on Thursday. The interesting thing I found in this article was that one OPEC member said that prices could rise to $100 a barrel because of the members already pumping at near capacity. My question is, do you think prices will ever get that high? If so, what do you think will happen to the economy? If not, how high do you think the prices will get?

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