As I had said in early January , the price of oil will continue to rise simply because the law of supply (Which has stagnated at 84 million barrels per day) and demand, which explodes because of the uncontrolled growth of China and India.
Well here it is: a barrel of oil has exceeded U.S. $ 110.94 a barrel yesterday in New York,
early 2004 there was $ 30 a barrel. In early 2008 we're at 110. If you remain linear, it climbs at a rate of 20 dollars a year. It should reach $ 200 in 5 years, in 2013. In fact, look above the curve. It is not linear at all. It should go through the roof of the $ 200 much faster than that ...
You have something against the horse manure ?
For more information:
1. Record oil : 110.94 dollars a barrel reached in New York (AFP)
2. Light Crude Oil (CL, NYMEX) (TFC Commodity Charts)
3. barrel of oil exceeds $ 100 (Gaia)
Credit graphic: TFC Commodity Charts
