Saturday, April 26, 2008 8:21:23 PM
OIL ==> re: Gasoline could hit $7 a gallon in four years: CIBC
Those who like to jump on hype bandwagon.... loves crowds.
Just finished watching, "The End Times (2002)", Tim LaHaye
~~~
Gasoline could hit $7 a gallon in four years: CIBC
Crude predicted to top $200 by 2012 on tight supplies, pushing gas higher
By Moming Zhou, MarketWatch
Last update: 5:15 p.m. EDT April 24, 2008
SAN FRANCISCO (MarketWatch) -- Surging crude prices, which could surpass $200 a barrel in four years on tight supplies, could push gasoline prices to as high as $7 a gallon, CIBC World Markets analysts said Thursday.
Crude supplies are actually lower than some official estimates indicate, while demand is unlikely to fall anytime soon, according to a statement by analysts led by Jeff Rubin at CIBC, an investment bank. They forecast that these tighter supplies and continued strong demand will drive oil and gasoline prices to roughly double their current levels by 2012.
"It is increasingly clear that the outlook for oil supply signals a period of unprecedented scarcity," said Rubin. "Despite the recent record jump in oil prices, oil prices will continue to rise steadily over the next five years."
Those who like to jump on hype bandwagon.... loves crowds.
Just finished watching, "The End Times (2002)", Tim LaHaye
~~~
Gasoline could hit $7 a gallon in four years: CIBC
Crude predicted to top $200 by 2012 on tight supplies, pushing gas higher
By Moming Zhou, MarketWatch
Last update: 5:15 p.m. EDT April 24, 2008
SAN FRANCISCO (MarketWatch) -- Surging crude prices, which could surpass $200 a barrel in four years on tight supplies, could push gasoline prices to as high as $7 a gallon, CIBC World Markets analysts said Thursday.
Crude supplies are actually lower than some official estimates indicate, while demand is unlikely to fall anytime soon, according to a statement by analysts led by Jeff Rubin at CIBC, an investment bank. They forecast that these tighter supplies and continued strong demand will drive oil and gasoline prices to roughly double their current levels by 2012.
"It is increasingly clear that the outlook for oil supply signals a period of unprecedented scarcity," said Rubin. "Despite the recent record jump in oil prices, oil prices will continue to rise steadily over the next five years."
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