Daily Kos :: Comments Goldman Sachs Expects Oil Prices To Hit $200

Algerian President of OPEC already said this... (3+ / 0-)

Recommended by:
New Deal democrat, borkitekt, Lujane

Mon April 28, 2008 Yahoo! News reported...

"Questioned about a possible rise which would go to $200, the minister did not rule out this eventuality, explaining that this rise is indexed from now on to the fall in the dollar or to the rise in the dollar,"

And the slide of the dollar is a direct result of the Bush administration, Republican lead congress and federal reserve monetary policies.

John McCain likes Lobbyists

by Enterik on Wed May 07, 2008 at 07:45:33 AM PDT
- so, there is a big $ devaluation in the works (1+ / 0-)
  
  Recommended by:
  Lujane
  
  or Euro climb in the works? I wonder how much the $ would have to fall to see that figure?
  
  Listen to Noam Chomsky's Necessary Illusions. (mp3!)
  
  by borkitekt on Wed May 07, 2008 at 07:47:40 AM PDT
  
  [ Parent ]
  - OPEC has give a rough formula... (2+ / 0-)
    
    Recommended by:
    borkitekt, Lujane
    
    in the article I cited, roughly a $4 increase per barrel for each 1% reduction in the value of the dollar. Currently, oil is priced near $120 per barrel, so divide $80 difference by $4 per percentage value lost and you would need a further 20% reduction in the value of the dollar to get $200 per barrel.
    
    John McCain likes Lobbyists
    
    by Enterik on Wed May 07, 2008 at 08:37:00 AM PDT
    
    [ Parent ]
    - thanks, (0+ / 0-)
      
      I'd seen the figure a week before but forgot where.
      
      Listen to Noam Chomsky's Necessary Illusions. (mp3!)
      
      by borkitekt on Wed May 07, 2008 at 09:07:48 AM PDT
      
      [ Parent ]

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Algerian President of OPEC already said this... (3+ / 0-)

so, there is a big $ devaluation in the works (1+ / 0-)

OPEC has give a rough formula... (2+ / 0-)

thanks, (0+ / 0-)

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