Tuesday, January 31, 2006

Are You Ready to Pay $10 a Gallon for Gas?

AP: Iran Sanctions Could Drive Oil Past $100
A surge in oil prices last week to almost $70 a barrel on concerns about the restart of Iran's nuclear program only hints at what may lie ahead. Prices could soar past $100 a barrel, experts say, if the U.N. Security Council authorizes trade sanctions against the Middle Eastern nation, which the West accuses of trying to make nuclear bombs, and Iran curbs oil exports in retaliation. A sharp global economic slowdown could follow

Ready for $262/barrel oil?
Two of the world's most successful investors say oil will be in short supply in the coming months.

CNN Money/Fortune magazine goes through 6 different hypotheticals with the 2 of the world's most succesful investors.
I'm not ready to pay half that much, but I am ready for the rioting that will ensue if it does happen. Bring your own guillotine.


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