Saturday, June 14, 2008

Oil to rise $20/bbl in next 22 years

By Donald Sensing

Earlier this month, raw petroleum hit an all-time high of more than $139 per barrel. It seems kind of, well, quaint now to read that way back in November, Wired.com cited a report by the International Energy Agency:

... the IEA, in the World Energy Outlook, says we could see it hit $159 a barrel
by 2030.

So relax! The good news is that oil will go up only $2o in the next 22 years. (The same month that Wired's column appeared, oil topped at $99.29.)

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