Crude May Rise to $120 in Six Months, Taqa CEO Says

[C. Little]

March 4 (Bloomberg) -- Crude oil may rise to $120 a barrel within six months due to the dollar weakness and global political tensions, the chief executive officer of Abu Dhabi National Energy Co. said.

``I think a trading range between $80 and $120 a barrel this year is about right,'' Peter Barker-Homek, the head of the United Arab Emirates state-controlled company, which is also known as Taqa, said in an interview in Dubai today. ``But with the softness of the dollar, and the occasional interruptions that you have because of politics, I think we could see $120 oil.''

In October, Barker-Homek said that crude would rise to $100 from $80 before the end of the first quarter because of unfettered Asian demand growth and possible supply shocks. Oil prices continued to rise today after the Taqa CEO made his latest forecast.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=autFGntuNqZY

[chel0524]

I think I could see myself getting a horse and buggy.

[SummerSailing81]

I think I see myself staying home a lot in the future. Thank the Lord Walmart is within walking distance of our house. Of course, I'll need all of your prayers to get in good enough shape to walk that far...right now I get winded just walking to the neighborhood trash bin and it's just a few yards from my front door! I'm pitiful, I know. :hehee

[Roland]

http://www.kion46.com/news/local/story.aspx?content_id=df1239b4-5366-4489-86eb-77e6dc9249bc

Gas Prices up, Production Down

GORDA, Calif.- If you're going to be heading down the Big Sur Coastline anytime soon, you'll probably going to want to have a full tank before you leave with the price of crude oil skyrocketing. With gasoline following the same direction, the Americo gas station in Gorda, just south of Big Sur is selling premium unleaded gas for $5.39 a gallon. If you can do without premium regular's a relative bargain at $5.19.


I am afraid this is just the beginning.