Monday, February 25, 2008

Oil projected at $137 per barrel

From Rigzone, an oil industry newsletter:

Barclays Capital, a division of Barclays Bank PLC located in the U.K., has upped its projected oil cost for the year 2015 from $93 a barrel to $137 a barrel after record high prices in oil futures this week.

In 2006 after oil reached a "record-high" $75 a barrel, Barclays had made the 2015 projection of $93 a barrel.

In a Barclays research note forecasting the spike in price, analysts noted that "the remorseless move up in long-run prices has not yet fully played out."

Hey WisDOT, you listening?

1 comment:

Anonymous said...

The DOT, Doyle, Bushalackey, and Walker are all auto, roadbuilding, and oil/carbon ADDICTS. The addict is irrational and goes after the activity or substance regardless of cost. --steve3@mail.com