From Dealbreaker.com's Opening Bell:
So we're officialy on $100 watch. We've been talking about this for a couple days, but now that we've crossed, er, breached the $90 mark, it's really time to start talking about the triple digits. Time to play a game. Enter the date in the comments that you think oil will cross $100. Can't guarantee that there's a prize, but if there were, closest answer would win it.
Never mind that the commentariat talks about $100 oil every time the barrel price crosses a round-number threshold: whether $60, $70, $80, or now $90, can $100 a barrel be far off?
On the one hand, I'm primarily in favor of high oil. The more oil costs, the greater the impetus for investment in both exploration and alternative energy sources. Also, unlike smoking (which is a real addiction) high oil correlates with reduced consumption, as we saw last year.
On the other, is $100 oil really that big a bogeyman when the move in the barrel price is based mostly on a declining US$? As a metric, it's not particularly objective, no?
Sphere: Related Content
No comments:
Post a Comment