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March 16, 2010

Will Oil Hit $200 a Barrel After All?

Jim Jubak, MSN Money

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Those 2008 predictions of sky-high prices may not have been as wrong as they were premature. Plus: Investing ideas for crude's comeback.

What ever happened to $200-a-barrel oil?

Maybe it's just been delayed in transit. A recession in the world's developed economies can do that.

Remember Arjun Murti's time in the sun when, in May 2008, the analyst at Goldman Sachs predicted that oil would soon hit $200 a barrel? A number of other prognosticators weren't far behind. T. Boone Pickens predicted in 2008 that oil would hit $150 before the year was out. Some guy named Jim Jubak in April 2008 called for $180 a barrel within two years.

In case you haven't noticed, all of us were wrong. Oil peaked at $147 a barrel in summer 2008 and then plunged to $35 a barrel by June...

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TAGGED: Jim Jubak, Oil

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